Consolidating and depositing

    • Jimanyjerk
      Jimanyjerk
      Bronze
      Joined: 29.12.2010 Posts: 366
      Hey everybody!

      I've got a couple of questions and 45 minutes of reading old posts hasn't quite clarified it all.

      I want to preserve as much of my bankroll as possible so avoiding % fees from currency exchanges would be a high priority. I've read about a couple of people on here watching 30$ at a time dissappear simply due to currency exchanges.

      I'm not certain, but I think my bankroll on PartyPoker is in Canadian, I think my bankroll on 888 is in US. I'm not certain how to tell :( . I want to keep my funds in whatever is going to be the best currency for playing poker- USD I'm assuming would be the case here.

      With Moneybookers as an example, I would withdraw all of my funds to it from PartyPoker and 888 and then deposit it elsewhere for a bonus. Is the withdrawal and deposit going to be free from fees?

      Are there any Canadians on here that have used Moneybookers with success? the newest thread I could find is almost 1 year old and not very conclusive.

      I've also heard good things about instadebit, though I really would like those strategy points and that bonus :( .

      I guess the other option is to keep all of the funds in CAD if there are any poker-rooms that accept it.

      I'm currently talking with the two poker rooms about what currency my funds are in and how I could coordinate this, but any input or advice would be much appreciated.

      Thanks a million,

      G.
  • 4 replies
    • VorpalF2F
      VorpalF2F
      Super Moderator
      Super Moderator
      Joined: 02.09.2010 Posts: 10,337
      I am also Canadian.
      Check to see if your poker room allows you to connect a bank account directly.

      Party Poker, for example can do this.

      The way it works, is that you create a separate account.
      Then you provide the poker room with the transit number, the bank number and the account number.

      They go through a validation procedure, and after it has been validated, you can transfer money in and out of the room without any charges at all.

      This appears to be done through a payment processor called pay pro.
      You might want to try to contact them here: info@pay-pro.com

      The big problem for Canadians is that there is some law here which prohibits moving funds to offshore gaming accounts with a credit card.

      Skrill (Moneybookers) charges fees both ways transferring money between you and them. It does not (apparently) charge when going to or from the poker room. I opened an account with them intending to deposit on iPoker, but when I found out what it would cost, I decided against it.

      It might be worth it for higher stakes players, but the fees alone amount to several buy-ins at NL 2

      When I contacted the room's customer service dept, they suggested I use wire transfer, but then my BANK charges fees that are even more outrageous.

      so to sum up, worth with your poker room to figure out the best way for you.

      Good Luck,
      --VS
    • Jimanyjerk
      Jimanyjerk
      Bronze
      Joined: 29.12.2010 Posts: 366
      Haha thanks for the quick reply! I guess it's because you are in Canada, most of the Euro players are asleep by now.

      I'll contact the websites and coordinate that. I'm still holding out for a 3rd party net wallet to tumble from the sky and perfectly fit my needs, but it's looking less likely that that will be the case. I will look into pay-pro though.

      Have a good evening and thanks for the suggestion! It'll probably be easier to deal with CIBC than any international group anyway :rolleyes:

      G.
    • VorpalF2F
      VorpalF2F
      Super Moderator
      Super Moderator
      Joined: 02.09.2010 Posts: 10,337
      Originally posted by Jimanyjerk
      Have a good evening and thanks for the suggestion! It'll probably be easier to deal with CIBC than any international group anyway
      Almost certainly.
      CIBC may even have some ideas I don't know about.

      I just wish I could use a credit card.
      I have four of the darned things, and not one of them will work.

      I've spoken to all 4 banks, and there is nothing they can do apparently.

      --VS
    • ThatGuyMatt
      ThatGuyMatt
      Bronze
      Joined: 03.12.2010 Posts: 3,765
      Hey Jimanyjerk.

      Have you contacted the Poker Rooms for the best advice, I'm interested to see their responses :) This may also help some of our other players!