Withdrawing Canadian Funds from Neteller (conversion rates?)
 

Obviously if you withdraw your funds from Neteller straight to a bank your probably not getting the best conversion rate. Normally I wouldn't care about this but when withdrawing large sums of money it might be better to find a different source to convert US funds into Canadian. Anyone have any experience with this?

Re: Withdrawing Canadian Funds from Neteller (conversion rates?)
 

Why not open an account in a US bank, withdraw the money in cash and then convert it at a B&M casino - they often offer a good rate if you shop around.

Re: Withdrawing Canadian Funds from Neteller (conversion rates?)
 

Thanks for the advice. I had actually just today opened a US bank account thinking something along similar lines. Although i've done no checking around to see rates.

Re: Withdrawing Canadian Funds from Neteller (conversion rates?)
 

What really sucks is that you can't connect your neteller account with a US funds bank account if you live in Canada. What you can do is get neteller to send you a check and then deposit it into a US savings account.

Re: Withdrawing Canadian Funds from Neteller (conversion rates?)
 

If possible use Party Poker's EFT for CDN accounts. They will deposit your cash directly into your CDN bank account with NO service charge.
In addition, they usually offer an exchange rate that is slightly better than the posted rate.

Re: Withdrawing Canadian Funds from Neteller (conversion rates?)
 

Really? Neteller told me they would charge 1.9% in fees to go from USD to CAD, though with a reasonable spot rate. Perhaps we're talking about different transfers. I opened a USD account with my Canadian bank. Neteller goes to that, and then that goes to my chequing. Best way I could find.

Re: Withdrawing Canadian Funds from Neteller (conversion rates?)
 

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Really? Neteller told me they would charge 1.9% in fees to go from USD to CAD, though with a reasonable spot rate. Perhaps we're talking about different transfers. I opened a USD account with my Canadian bank. Neteller goes to that, and then that goes to my chequing. Best way I could find.

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Yep. Really. Party (and Empire) will do the transfer and will not ding you with the 1.9% fee. I withdraw US funds from my Party account and they deposit this money directly into my CDN bank account without any service charge.

There is no need to transfer Neteller ==> US money account ==> CDN account.

You can simply go from Party ==> CDN account.

Re: Withdrawing Canadian Funds from Neteller (conversion rates?)
 

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You can simply go from Ultimate Bet ==> CDN account.


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Re: Withdrawing Canadian Funds from Neteller (conversion rates?)
 

Good call; I totally misread your post, but you're right, going through a poker site could be much better than going right from Neteller to the bank. I guess I'll have to compare spot rates since I already have this USD account.

Re: Withdrawing Canadian Funds from Neteller (conversion rates?)
 

Wyvers I think its your bank though that will actually do the conversion when party EFTs money to you. I know my bank gives sucky exchange rates compared to others and thats what im looking to avoid.