Manipulation with money

    • THESHade
      THESHade
      Bronze
      Joined: 25.03.2010 Posts: 5,418
      Hello,
      I would like to know what is the best options to move ur bankroll from site to site. I am from Slovakia and we have Euro
      I hate losing too much money because of exchange payment (It is around 1BI for every transaction, sometimes even more)
      so my Q is, what is better, Moneybookers in Euro and having asmany sites as possible in Euro or having moneybookers in Dollars or having moneybookers in euro and Netteler in dollars or jsut using bankaccount (I have no idea how big are the payments in Slovak banks)

      is there any way that I would lose the less amount of money?

      I am a student so I could have student bank account so at least I will save some cash in that matter

      TYin advance for any response
  • 9 replies
    • opal99
      opal99
      Black
      Joined: 05.02.2008 Posts: 8,270
      in this order:

      1. MB in € and as many sites in € as possible; getting VIP status on MB
      2. the same as above w/o vip thing
      3. good bank account with VISA with high limits for transactions (mBank is OK, SLSP is the best in SVK imo) and € poker accounts

      I wouldnt use TatraBanka for online withdrawals after I paid a f*** lot last time.. All the other major banks should be pretty cheap with that, but SLSP is the best by far - but you have to ask for every detail personally.. Otherwise you just end up pissed a bit
    • THESHade
      THESHade
      Bronze
      Joined: 25.03.2010 Posts: 5,418
      ty

      and if it is possible to have some poker accounts only in dollars then I will lose no matter what?
    • opal99
      opal99
      Black
      Joined: 05.02.2008 Posts: 8,270
      well; there's a bit tricky way to lose the least but you have to be active on Stars:

      1. open Neteller or any other similar payment system in USD
      2. add € account to your default $ Stars account
      3. transfer winnings from random USD site to Neteller and then to Stars
      4. exchange those $ into € there
      5. withdraw € to your bank account

      Banks usually have 1.9% spread on usd/eur rate and it gets even higher if there expected some fundamental impacts. PokerStars uses reuters ex-rate if I'm correct and even though there might be some extra little spread (it's not imo - but limited experience), it's always +EV.

      disclaimer: i dont advise to use it if you're not active PokerStars player - you can get your money locked unless you earn some amount of fpp! If trying, do it with small amount first ofc - it's been a while since i used it last time
    • THESHade
      THESHade
      Bronze
      Joined: 25.03.2010 Posts: 5,418
      Thats clever :) will surely try to use it when I will play there but it might take some timebut I will remember this :)
      TY, u helped me a lot, now I will just read about few banks

      oh, Last Q: I guess there is no way that bank will reject depositing to a poker site or Moneybookers which is dedicated for poker right?
    • opal99
      opal99
      Black
      Joined: 05.02.2008 Posts: 8,270
      no if you use VISA / Visa electron... dont use Maestro/MasterCard and you're fine :)
    • oblitron
      oblitron
      Bronze
      Joined: 22.01.2010 Posts: 238
      Great info from Opal99 there.

      Neteller has a 2.5% markup on the interbank rate. See here for more. Right now it's EUR-->USD @ 1.2576
    • THESHade
      THESHade
      Bronze
      Joined: 25.03.2010 Posts: 5,418
      ACtually, I forgot about smth (again:D )

      Another Q, isnt it better to have some account or even poker site account in dollars cause I ve read a thread where two or three experts where discussing current situation in Europe and that Euro and whole European economy could crash in like two-three years unless polititians will admit their mistake
      (but they are slowly admiting it so there may be hope)

      and then earn some extra euros by that or move out somewhere else and use dollars, but I am prob. jsut paranoid
    • oblitron
      oblitron
      Bronze
      Joined: 22.01.2010 Posts: 238
      This is PokerStrategy, not ForexStrategy. ;)

      Anyway, I suspect your poker bankroll isn't greater than 300 euros right now, so really the euros you could be making this way aren't even worth much.

      Now, if we were to talk about your general bankroll ("in real life"), then yes, you could simply open a USD account in any bank that offers this option in your country. You could, for instance, have half of your money in euros and the remaining half of your money in a USD fixed-time deposit where you could earn some interest and stop worrying about the euro crashing overnight etc. :)
    • THESHade
      THESHade
      Bronze
      Joined: 25.03.2010 Posts: 5,418
      My roll is greater than 300e

      I may create 2nd bank account in USD and use it to deposit on USD netteler but I am not sure

      well ty