Exchange rate €/$

    • pinnryder
      pinnryder
      Bronze
      Joined: 10.11.2009 Posts: 597
      Can anyone tell me if FTP has it's own exchange rate or do they use the standard exchange rate the normal banks are using too?
      I want to deposit through Neteller but my account is set in €..

      Any information would be much appreciated..
  • 12 replies
    • PocketAcesJohn
      PocketAcesJohn
      Bronze
      Joined: 19.06.2008 Posts: 1,116
      Just deposit if you want to deposit =)

      Exchanges rates will be the same...If they wern't that would kind of beat the point of having diffrent currencys. People who run a business (in this case a poker room) Dont have the power to decided that say the euro is worth something diffrent from what it actually is worth.

      Just whack your money on and start grinding =)
    • tokyoaces
      tokyoaces
      Bronze
      Joined: 01.04.2009 Posts: 1,883
      Originally posted by PocketAcesJohn
      Just deposit if you want to deposit =)
      This is very bad advice.

      Neteller handles the exchange rate and they offer very bad rates unless you are a VIP customer. You would be better served opening up a MoneyBookers account in USD.
    • pinnryder
      pinnryder
      Bronze
      Joined: 10.11.2009 Posts: 597
      Originally posted by tokyoaces
      Originally posted by PocketAcesJohn
      Just deposit if you want to deposit =)
      This is very bad advice.

      Neteller handles the exchange rate and they offer very bad rates unless you are a VIP customer. You would be better served opening up a MoneyBookers account in USD.
      I was asking because when I take money from my partypoker account it is less than it should be according to the normal exchange rate, so they obviously use one in their favour.

      But what about the exchange rate from neteller? Would I get a notice from that cause the transaction is always handled through the poker site and not trough the neteller website. Maybe you can give me more information? Did you have some experience with neteller?

      EDIT: I just found the answer they have an echange fee of 1.9%...
      Is there a fee for moneybookers?
    • tokyoaces
      tokyoaces
      Bronze
      Joined: 01.04.2009 Posts: 1,883
      Here's the fee schedule for MoneyBookers:
      http://www.moneybookers.com/app/help.pl?s=fees

      I have a Netller account and a MoneyBookers account. One in USD and one in Euros. I paid the fees to deposit money and then just keep my bankrolls separate between USD/EUR.
    • pinnryder
      pinnryder
      Bronze
      Joined: 10.11.2009 Posts: 597
      Do I get it right, that you don't have to pay with moneybookers when you withdraw some money from your poker account (with neteller you would have to pay 1.9% exchange fee if your account is in €) but you have to pay 1% fee if you deposit some money in your poker account?
    • tokyoaces
      tokyoaces
      Bronze
      Joined: 01.04.2009 Posts: 1,883
      I don't use Euros or Dollars. So I have my Neteller account in Dollars and my Money Bookers account in Euros. I deposited one time to each account and have never withdrawn.

      I paid the exchange rate fees on my deposits and will also have to pay exchange rate fees if I withdrawal someday.

      However when transferring on and off poker sites I don't pay any fees since I only use my Neteller account for Dollar transfer and my Money Bookers account for Euro transfers.
    • Anssi
      Anssi
      Black
      Joined: 03.07.2008 Posts: 2,173
      You pay Moneybookers a fee only when you withdraw back to your account. There are "hidden fees" in exchange rates, though. They offer pretty bad rates and you have to use them.
    • AugustusCaesar
      AugustusCaesar
      Bronze
      Joined: 24.05.2008 Posts: 377
      Hi,

      You should take some time with this, becase my $600 actually somehow shrinked to $575 on their way

      PokerStars Account -> MoneyBookers -> Full Tilt Account

      and in between they were changed into Euros .. I did not care about investigating this, but you might take the time ..

      As much as I know I trust PokerStars, as my withdraw of the bigger part of the BR went straight to the bank account and had a very good rate (I was expecting less money), so I would say that the bad deed has been done by MoneyBookers (and NO, it were not the official fees), but that is just my assumption
    • drachdudek
      drachdudek
      Bronze
      Joined: 06.11.2007 Posts: 656
      Originally posted by Anssi
      There are "hidden fees" in exchange rates, though. They offer pretty bad rates and you have to use them.
      yes, it is sadly so true?! ;( :( i withdraw yesterday 1600$, but not from FT, but nevertheless, i got exactly 1144€...acording current exchange rate they robbed me for arround 30 - 40€...i dont understand that, and i never will...anybody got anytime some explanation about this issue?
    • pinnryder
      pinnryder
      Bronze
      Joined: 10.11.2009 Posts: 597
      Originally posted by drachdudek
      Originally posted by Anssi
      There are "hidden fees" in exchange rates, though. They offer pretty bad rates and you have to use them.
      yes, it is sadly so true?! ;( :( i withdraw yesterday 1600$, but not from FT, but nevertheless, i got exactly 1144€...acording current exchange rate they robbed me for arround 30 - 40€...i dont understand that, and i never will...anybody got anytime some explanation about this issue?
      It's such a shame but I don't think there is a lot anyone can do about this. But after a few withdrawals it really adds up to quite some money.
      I read on other sites thatthe best option is to deposit from your bank account directly and withdraw to it directly too, but I haven't really looked into it.
      I might take the loss of 20-30$ at the moment but for future transactions I really want to find the best solution for this cause I don't want to pay hundreds of dollars just because they are changing currencies...
    • tokyoaces
      tokyoaces
      Bronze
      Joined: 01.04.2009 Posts: 1,883
      Originally posted by drachdudek
      yes, it is sadly so true?! ;( :( i withdraw yesterday 1600$, but not from FT, but nevertheless, i got exactly 1144€...acording current exchange rate they robbed me for arround 30 - 40€...i dont understand that, and i never will...anybody got anytime some explanation about this issue?
      According to whose current exchange rate? The ask, call, bid? Did you check at the exact instant your money was transferred? (Which of course you cannot possibly know.)

      Forex is very complicated and all you can know for sure is that MoneyBookers charged you 1.99% of whatever rate they were getting at that time.
    • StaticMoth
      StaticMoth
      Silver
      Joined: 22.05.2009 Posts: 2,642
      Couple of days ago I had about $503 @ MoneyBookers but in Euros ...
      Deposited to FullTilt ... $495 :)

      $8 "lost in translation" - so yeah, they rob a lot

      The bigger your roll gets, the more you start wanting to cry cause of these fees :f_biggrin: