A question for fellow Canadians

    • jonnyquest
      jonnyquest
      Bronze
      Joined: 21.09.2009 Posts: 285
      Hi

      I am looking for the best way to regularly withdraw from my account as well as tranfer money between poker rooms. I've looked into moneybookers because it's got the lowest fees but gets mixed reviews. Please let me know which methods you guys use and what kind of experiences you've had. If you have any idea of the fees involved and if it effects rakeback include this info too.

      Cheers
  • 6 replies
    • NickParkes
      NickParkes
      Bronze
      Joined: 07.07.2008 Posts: 1,526
      I use moneybookers and they are OK... the only real downer I have is that if you MB account is in C$ and your poker account is in US$ they do not give you a very good exchange rate at all... Both my FT and Stars accounts are US$ and moving funds from one site to another gets expensive through MB which is C$, so my advice is keep everything in the same currency... as for other routes, I have no real help there...
    • thepowerplay
      thepowerplay
      Bronze
      Joined: 24.10.2009 Posts: 81
      I've been using Instadebit since Neteller pulled out. Not all online poker sites use Instadebit, but I'm pretty sure all the heavyweights like Stars, Tilt, UB, and Doyle's do, as well as some ipoker sites.

      There's no fees, and I've never had problems getting my money in and out using them. I recommend them!

      BTW... I'm in Vancouver!

      :)
    • jonnyquest
      jonnyquest
      Bronze
      Joined: 21.09.2009 Posts: 285
      @NickParkes- how do transfers work? Can you transfer directly from one site to another to avoid exchange rate gouges? What if I open a USD account? Did you have problems confirming address and bank info?

      @thepowereplay- Netteller is no longer? Instadebit has no fees!? How do they make money? I'll have to look into this. I'm in New West.

      Thank you both.
    • thepowerplay
      thepowerplay
      Bronze
      Joined: 24.10.2009 Posts: 81
      Neteller is still in business... just not with US poker rooms. I used them a few years back, but when all the boom came down in the US, Neteller sent a message to Canadian customers that they were not conducting any more transactions to online poker sites.

      That's when I switched to Instadebit... and I chose them because they were available at all the rooms I played at. They charge their fees directly to the poker sites, so that's how they make the money. I guess for a poker site having a player's money generating rake on a site for a period of time outweighs the fees they pay for transactions... particularly for larger stakes players or those who don't move their money a whole lot.

      Again I've used Instadebit lots... most recently last week. No problems whatsoever.
    • NickParkes
      NickParkes
      Bronze
      Joined: 07.07.2008 Posts: 1,526
      Originally posted by jonnyquest
      @NickParkes- how do transfers work? Can you transfer directly from one site to another to avoid exchange rate gouges? What if I open a USD account? Did you have problems confirming address and bank info?
      I withdraw to MB and then deposit into the poker room... I think the best way to do this is to keep all currencies the same. I don't think there will be too much bother having a canadian address and US$ currency in the account, cos you can pick what currency you want, although I am not 100% on this, but should be evident during the registration process...

      Confirming details took me a bit of time but I got it sorted out... if you are prepared with everything they need, Photo ID, proof of address, bank statements etc it can be a lot less frustrating... I was new to Canada when I did this, so POA was a bit tougher at the time, but it has since been sorted and I am happy enough... I really just use MB for moving money around when I have to, I keep the bulk of my bankroll in an account that earns interest and that is separate from other accounts as I think that is more + EV for me :f_biggrin:
    • jonnyquest
      jonnyquest
      Bronze
      Joined: 21.09.2009 Posts: 285
      Hey thanks guys. I'm glad I have at least 2 viable options. They both say no fees to the customer but when you cash out they'll charge the poker room which will then deduct that amount from your rakeback. In the end we still end up paying for it. How much are the fees? I see moneybookers is very cheap but I can't get numbers of instadebit.

      Thanks again