Currenncy conversion

    • Cakara
      Cakara
      Black
      Joined: 10.11.2007 Posts: 139
      Today I withdrew 600$ from Stars and they convert it to 395.26e to my moneybookers acc. According to Reuters exchange rates it should be 401.64e. thats 6e difference. And its not a first time, they steal from me during deposit too.
      Here what they said at website

      How does conversion from USD to local currency work?

      PokerStars uses Reuters exchange rates to convert players' funds from USD to local currency. PokerStars does not charge a conversion fee!

      How does the exchange rate conversion work?

      If your Moneybookers account is in one of the following currencies, AUD, CAD, DKK, EUR, GBP, NOK, SKK and USD, PokerStars will automatically convert your Moneybookers deposits to USD at no additional cost. PokerStars uses Reuters exchange rates to covert players' funds from local currency to USD.

      I dont like being ripped off. Anyone else notice this?
  • 4 replies
    • ManniXXX
      ManniXXX
      Bronze
      Joined: 05.09.2007 Posts: 707
      It's not Pokerstars that is charging, it is moneybookers charging a % for the conversion from USD to Euro.

      For transactions involving a currency conversion, we use the daily reference rates as published by the European Central Bank. However, 1.75% will be added to the interbank rate wherever there is an exchange of currency. This is not a hidden charge but a protection against the volatility and risk associated with FX markets.
    • tomzyb
      tomzyb
      Bronze
      Joined: 02.08.2007 Posts: 623
      Jup, rather have your moneybookers acc in USD too, if you play at PokerStars. And value of USD is raising again anyway, so no need to change to euros.
    • Cakara
      Cakara
      Black
      Joined: 10.11.2007 Posts: 139
      Originally posted by tomzyb
      Jup, rather have your moneybookers acc in USD too, if you play at PokerStars. And value of USD is raising again anyway, so no need to change to euros.
      True, but then I'll pay a currency change fee when I withdraw from MB to my bank account
    • ManniXXX
      ManniXXX
      Bronze
      Joined: 05.09.2007 Posts: 707
      Originally posted by Cakara
      Originally posted by tomzyb
      Jup, rather have your moneybookers acc in USD too, if you play at PokerStars. And value of USD is raising again anyway, so no need to change to euros.
      True, but then I'll pay a currency change fee when I withdraw from MB to my bank account
      Yes, the fee cannot be avoided if we use Moneybookers, however an account in USD means no tax for moving the BR around different poker rooms. If you withdraw and deposit from your bank account often then there would be no advantage, I would use a debit card instead.