Neteller rip-off

    • Berzerger
      Berzerger
      Bronze
      Joined: 24.03.2008 Posts: 910
      No, they're not a scam if that's what you expected to read. What I'm really pissed off about is how much they charge for deposits that are not in the same currency as my account (euro in this case). 2.5% plus additional conversion fee, their TaC say.

      To give you an example, I withdrew $630 a few days ago, and they credited me with 484 euro which barely equals $600. So that's more than a $30 fee for a normal sized withdrawal, a regular person has to work for like 3 hours just to get that money. A bit overpriced, no? And apparently that mystery rate they don't explicitly mention is also 2.5%, so all said and done they just take 5% of every deposit in a different currency.

      Since my Full Tilt account is in $ and I don't even know if it's possible to set it in euro, I'm kind of forced to play on sites where my account is in euro as well. Just a heads up for everyone using or planning to use Neteller, they don't mention this kind of stuff when you sign up.
  • 9 replies
    • malosanmaka
      malosanmaka
      Bronze
      Joined: 18.12.2009 Posts: 508
      I'm pretty sure thats its same with all other e-wallets (monebookers etc)
    • degre
      degre
      Bronze
      Joined: 30.04.2009 Posts: 413
      Personally I think you should use this kind of service only in 3 specific occasions:

      - You have no other choice.
      - You're paranoid about your card's details.
      - You're bonus whoring in a value which is not yours.

      Otherwise, if you have a VISA card and that is a withdrawal option I'll go for that all the way, quick and with lower fees.
    • rorrlsh
      rorrlsh
      Bronze
      Joined: 31.10.2009 Posts: 119
      I have a questions for you guys.
      If I have my bankroll on moneybookers/netteller in $, do they charge if I put money to/from a poker room from/to that moneybookers/netteller account?
      I don't plan on cashing it out to my € currency account, just for example when I want to move my bankroll between poker rooms?
    • Berzerger
      Berzerger
      Bronze
      Joined: 24.03.2008 Posts: 910
      Originally posted by malosanmaka
      I'm pretty sure thats its same with all other e-wallets (monebookers etc)
      Never used Moneybookers so I wouldn't know. But I still find the amounts of money they take off me ridiculously high and there's no way of knowing how much until they actually take it.

      Originally posted by degre
      Personally I think you should use this kind of service only in 3 specific occasions:

      - You have no other choice.
      - You're paranoid about your card's details.
      - You're bonus whoring in a value which is not yours.

      Otherwise, if you have a VISA card and that is a withdrawal option I'll go for that all the way, quick and with lower fees.
      The reason I went with Neteller is because they have their own cards that don't leave a paper trail. None that can be linked to me, anyways, as taxes on poker winnings in Belgium are slightly beyond insane. Otherwise I'd withdraw directly to my bank account. Can VISA guarantee the same level of anonymity?
    • Berzerger
      Berzerger
      Bronze
      Joined: 24.03.2008 Posts: 910
      Originally posted by rorrlsh
      I have a questions for you guys.
      If I have my bankroll on moneybookers/netteller in $, do they charge if I put money to/from a poker room from/to that moneybookers/netteller account?
      I don't plan on cashing it out to my € currency account, just for example when I want to move my bankroll between poker rooms?
      Normally, they don't charge a conversion fee for outgoing funds.
    • degre
      degre
      Bronze
      Joined: 30.04.2009 Posts: 413
      Originally posted by Berzerger
      The reason I went with Neteller is because they have their own cards that don't leave a paper trail. None that can be linked to me, anyways, as taxes on poker winnings in Belgium are slightly beyond insane. Otherwise I'd withdraw directly to my bank account. Can VISA guarantee the same level of anonymity?
      If that's the case I'll stick with it.

      VISA's figure as a cashback from the retailer on your bank account, and obviously cashback from certain retailers must only be poker winnings.

      I'll double check anyway once I get home how it figures on my account and let you know. Can't now as I don't have with me the user ID to access my online banking.
    • JackxxRatt
      JackxxRatt
      Bronze
      Joined: 18.07.2007 Posts: 116
      I cant say I have a problem with their fees to be honest. I might lose a bit when making a transfer to Neteller in a different currency but then I see it as being offset when transferring in the same currency as there's zero fees. Like others, I also get to enjoy the anonymity. As for making a deposit from Neteller, I think it's also free or the poker sites pick up the tab?, that's usually the site's excuse when they're making deductions from rakeback etc anyhow.
    • Atoks
      Atoks
      Bronze
      Joined: 01.06.2008 Posts: 1,354
      About Moneybookers, they charge me 1.8€ every time I make a withdrawal. I'm not a VIP (yet). My principle currency is € but I have my BR in $ on stars. I convert my $ to € on stars, who seem to have a rather fair conversion rate and a seemingly reasonable fee for currency conversion. I feel all of this combined makes for a rather good solution.
    • nathanrenard
      nathanrenard
      Bronze
      Joined: 09.02.2009 Posts: 816
      You could start playing on PokerStars maybe?