Neteller EFT was declined

[DavidC]

Hey guys.

I went to w/d 6k from Neteller the other day: due to the currency risk of $USD for Canadians..

It didn't work, saying that it was over my limit or whatever, so I called up Neteller to ask them what my limit was. They said $5k, but that you can make as many individual w/d's in a day as you want: (i.e. no daily limit, but only a per-transaction limit). The $1k transaction went through, but not the $5k.

Alright, so I make two w/d's, the first for $5k and the second for $1k.

That appears to work.

In the morming, I wake up, and it hasn't gone through: it's been declined. I call them again.

The representative tells me that $5000 sometimes works and sometimes doesn't, but that $4900 should work...

Oy!

Alright, so I did $4999, and we'll see what happens.

I THINK what may be happening here is that when it converted the USD to CDN it came to over 5k and declined as a result. /images/graemlins/frown.gif

We'll see what happens on this one.

Has anyone else had their EFT withdrawls declined? What's been the reason?

I'm a little weired out by the whole situation. I'm only 24 years old and this represents like A LOT of my net worth, so I'm a little nervous...

[RollaJ]

[ QUOTE ]
Alright, so I did $4999

[/ QUOTE ]

Why in the world wouldnt you do $3,000 and $3,000

[DavidC]

I don't know... I could have done 10x $500 too, but I didn't.

They told me the limit, and that's what I did.

/images/graemlins/smile.gif

--Dave.

I'm more interested here in hearing about anyone else's experience with declined eft w/d's and the reasons behind them.

[Punker]

Yes, I have had exactly the same thing happen. I changed it to two cashouts of 3000 and it worked fine.

[prayformojo]

I've been out of the loop for a bit. May I ask what the "currency risk" for Canadians is?

[Piiop]

[ QUOTE ]
The representative tells me that $5000 sometimes works and sometimes doesn't, but that $4900 should work...

[/ QUOTE ]

Wow....high quality service right there.

[DavidC]

[ QUOTE ]
[ QUOTE ]
The representative tells me that $5000 sometimes works and sometimes doesn't, but that $4900 should work...

[/ QUOTE ]

Wow....high quality service right there.

[/ QUOTE ]

Well, checking my in-box...

[ QUOTE ]
Dear Client,

Due to some recent NETeller site up-grades, your eft was declined as it was over the CDN limit of $5,000.00.
Since your NETeller account is in USD, but it will be converted to CDN, your request needs to be $3,750.00 or less, but keep in mind, you can make more than one eft withdrawal request.
Thanks again for your time, and patience,
CHEERS!


[/ QUOTE ]

[DavidC]

[ QUOTE ]
I've been out of the loop for a bit. May I ask what the "currency risk" for Canadians is?

[/ QUOTE ]

Well, recently the cdn has been rising relative to the usd.

I'm not sure why, because I'm not much of an economist. /images/graemlins/smile.gif

However, it appears that the trend has reversed a little as the Bank of Canada increased its lending rate.

So...

I'm not sure what the hell's going on.

What I DO know, is that I want to buy a car in the near future (max 4 months) and I don't want to expose myself personally to currency fluctuation risk.

[afk]

You know you could save neteller's 1.9% fee by depositing to the Party skins and withdrawing to your bank account from there. That's a hefty chunk of change at $6000.

[Smackdab]

[ QUOTE ]
You know you could save neteller's 1.9% fee by depositing to the Party skins and withdrawing to your bank account from there. That's a hefty chunk of change at $6000.

[/ QUOTE ]

Since when is there a 1.9% charge to w/d????
I haven't done an EFT for deposit in quite sometime but don't recall a charge for that either unless it was instacash.

[randomstumbl]

[ QUOTE ]
[ QUOTE ]
You know you could save neteller's 1.9% fee by depositing to the Party skins and withdrawing to your bank account from there. That's a hefty chunk of change at $6000.

[/ QUOTE ]

Since when is there a 1.9% charge to w/d????
I haven't done an EFT for deposit in quite sometime but don't recall a charge for that either unless it was instacash.

[/ QUOTE ]

The 1.9% charge is a currency conversion fee (well, they claim it's not a fee, but you're paying it). So, it only applies when you're switching currencies.

[DavidC]

[ QUOTE ]
You know you could save neteller's 1.9% fee by depositing to the Party skins and withdrawing to your bank account from there. That's a hefty chunk of change at $6000.

[/ QUOTE ]

Now there's an interesting idea... /images/graemlins/smile.gif

Do they do this for Canadians? (I guess they do or you wouldn't have said it...)

Next time I guess. /images/graemlins/smile.gif

[DavidC]

[ QUOTE ]
[ QUOTE ]
You know you could save neteller's 1.9% fee by depositing to the Party skins and withdrawing to your bank account from there. That's a hefty chunk of change at $6000.

[/ QUOTE ]

Since when is there a 1.9% charge to w/d????
I haven't done an EFT for deposit in quite sometime but don't recall a charge for that either unless it was instacash.

[/ QUOTE ]

Hi SmackAddict,

Uh, I mentioned that it was for the currency conversion fee, not an eft charge, I think.

/images/graemlins/cool.gif

[afk]

[ QUOTE ]
[ QUOTE ]
You know you could save neteller's 1.9% fee by depositing to the Party skins and withdrawing to your bank account from there. That's a hefty chunk of change at $6000.

[/ QUOTE ]

Now there's an interesting idea... /images/graemlins/smile.gif

Do they do this for Canadians? (I guess they do or you wouldn't have said it...)

Next time I guess. /images/graemlins/smile.gif

[/ QUOTE ]

Yes PayPro has an electronic transfer option to withdraw to Canadian bank accounts (it's the first option on the list). I've been using it for withdrawing money for a while and I barely play at the party skins. However the largest amount I've taken out is $2500 USD. Generally if I'm going to make a large withdraw I play on Party a bit - I'm not sure if they'll decline me because I haven't been playing there consistently. Just think of it this way. Neteller is charging you 1.9% of $6000 to withdraw that money when the Party skins don't charge anything. Do the math, it's ugly.

[Smackdab]

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
You know you could save neteller's 1.9% fee by depositing to the Party skins and withdrawing to your bank account from there. That's a hefty chunk of change at $6000.

[/ QUOTE ]


Since when is there a 1.9% charge to w/d????
I haven't done an EFT for deposit in quite sometime but don't recall a charge for that either unless it was instacash.

[/ QUOTE ]

Hi SmackAddict,

Uh, I mentioned that it was for the currency conversion fee, not an eft charge, I think.

/images/graemlins/cool.gif

[/ QUOTE ]

OK, misunderstood. Just a spoiled American who doesn't have to deal with these matters.

[Guthrie]

[ QUOTE ]
[ QUOTE ]
Alright, so I did $4999

[/ QUOTE ]

Why in the world wouldnt you do $3,000 and $3,000

[/ QUOTE ]
Because poker players are all about pushing limits.

[jman220]

[ QUOTE ]
I've been out of the loop for a bit. May I ask what the "currency risk" for Canadians is?

[/ QUOTE ]

US Dollar = Suck, right now.