Change Neteller from $ to £ or € ?

[Potless]

I've always kept my Neteller account in dollars but I'm tempted to get the ATM card to get cash here in Spain. If I change to euros what sort of charges do I get when transferring in and out of poker sites? I've looked on the Neteller site but cant find anything useful - anyone have any experience with using their account in non-dollar currencies?

[pzhon]

According to Neteller support, Neteller charges 1.9% every time they change currencies. That includes depositing to a poker site, withdrawing money from a poker site, and changing the currency of your account.

You are only allowed to change the currency of your account once. If your poker accounts are in dollars, I think you will regret it if you change your Neteller account to euros.

[AwesomeAli]

Hi Potty

My neteller account is in USD (and always has been). When I got my Debit Card I thought that paying the occassional fee of $2 for ATM use was not bad.

I did, however, recently make a $1k withdrawal from my account to my debit card and made a note of the amount on my card before and after I made the withdrawal. I was a little shocked at what I saw.

Basically, they transfer $998 of the $1k to your debit card and take $2 as a transfer fee (which again, I was ok with).

So when I checked out my balance after I transfered the $998 to my card, they had taken $20 instead of the $2.

So I rang them up and was told that because I am in Europe, my Neteller debit card was issued in Canada and, therefore, all balances on my card were in Canadian dollars /images/graemlins/confused.gif.

So I lose the other $18 in exchange rates from USD (when it leaves my account) to Canadian dollars as soon as it reaches the card.

Pretty un-impressed I can tell you /images/graemlins/mad.gif

The woman from Neteller said that the only way I could get around this was to change my account from USD to Canadian Dollars. I told her NO TY!!

So I suggest that if you go ahead and get the card that you leave your account set up as USD and only make $1k transfers to your card ($1k is the max).

Hope this is of some use. Speak to you soon /images/graemlins/wink.gif

Ali

[6471849653]

That $20 is just half of the total costs per $1000 as there are additionally some fees for cashing it out from the machine.

[Sheriff Fatman]

Yes, the multiple Neteller exchanges are a pain in the arse, which is why I try to avoid using it unless necessary (its the only instant cash option though, so its handy to have available).

I've had one transaction where the rate was over $2/£1 after taking all the fees into account. I cashed out $1,000 and got less than $500 back in return, which is shocking.

If you can afford to wait for 3 days or so for the money to land in your account then the Party Switch option is the best I've found for a UK player.

Sheriff

[Potless]

Ok thanks for that folks looks like I stay with $ at Neteller. I like the switch option at Party but it is not my regular site so two follow up questions:

1 - What exchange rates do Party use and how can I access them. When I go to cash out it shows GB£ as cashout currency but my acount is in US$.

2 - If I buy in with Neteller can I cash out to Switch without crediting back my buy-in to Neteller?

[TylerD]

[ QUOTE ]
Ok thanks for that folks looks like I stay with $ at Neteller. I like the switch option at Party but it is not my regular site so two follow up questions:

1 - What exchange rates do Party use and how can I access them. When I go to cash out it shows GB£ as cashout currency but my acount is in US$.

[/ QUOTE ]

Very good, above market rate last time I tried. If you type the amount you wish to cashout in the cashout box and then put the cursor in the Switch box you'll get a price in £s below.

[ QUOTE ]

2 - If I buy in with Neteller can I cash out to Switch without crediting back my buy-in to Neteller?

[/ QUOTE ]

Yes.

[AwesomeAli]

[ QUOTE ]
If you can afford to wait for 3 days or so for the money to land in your account then the Party Switch option is the best I've found for a UK player

[/ QUOTE ]

Funily enough I recommended this to a friend at Luton Casino on Wednesday night. He went ahead and did a "test cashout" to see if it worked and how quick it would be to reach his bank account.

He emailed me this morning and informed me that he cashed out from Party on Saturday night and the funds were in his bank account on Monday morning.

For the $50 he cashed out, he received £27.52

Unfortunately, I don't have a switch card /images/graemlins/frown.gif so cannot go down this route of cashing out.

Ali