Is Currency Conversion free?

    • excelgeo
      excelgeo
      Silver
      Joined: 17.10.2008 Posts: 1,107
      Hi

      Do i pay pokerstars to convert my currency? Any tips on that? I tend to deposit in ££ but then I convert to whatever it is I want, sometimes even back and forth depending on tournaments entered

      Do I lose money? What do you recommend here?

      Thanks
  • 5 replies
    • Silicernium
      Silicernium
      Bronze
      Joined: 22.12.2009 Posts: 3,203
      Hallo!

      You will not pay any money for conversion between currency. If you have a $ acc and you play at a € table it is always free.

      You only pay something, if you change your money too often to make winnings.
    • BustoTinker
      BustoTinker
      Bronze
      Joined: 21.07.2011 Posts: 815
      I am not sure about this. I 20 times change currency on $ to € and back to $ and in the end there was 20c missing, but I sended now some email to be sure about this
    • ThatGuyMatt
      ThatGuyMatt
      Bronze
      Joined: 03.12.2010 Posts: 3,758
      The difference is most probably from the Global Exchange Rates, which are often going up/down by small amounts :)
    • fruktpuff
      fruktpuff
      Bronze
      Joined: 24.09.2010 Posts: 3,982
      It may also be a rounding issue, occasionally, depending on the amounts being converted.

      There's no actual "fee" being charged for using the cashier to exchange between currencies, but it is using current exchange rates and you may not always get the same result.
    • BustoTinker
      BustoTinker
      Bronze
      Joined: 21.07.2011 Posts: 815
      PokerStars' exchange rates are calculated by adding 1% to the mid-market rate, provided by Reuters:

      http://www.reuters.com/finance/currencies

      PokerStars waives the 1% margin when the currency conversion is used for playing the games, meaning that our exchange rate is effectively the same as the Reuters mid-market rate. PokerStars also waives the margin for deposits and cashouts made in US Dollars, Euro, British Pounds or Canadian Dollars.

      For deposits and cashouts made in other currencies, PokerStars waives 0.5% of the margin, meaning that the exchange rate is effectively equal to the Reuters mid-market rate, plus 0.5%.

      Note that PokerStars provides multi-currency features for game play. We reserve the right to apply the full 1% margin retroactively where the features are not used for this purpose.

      All exchange rates are updated on a regular basis throughout the day.