cryptos take money in exchange?

[absou1ut]

I was playing on Ukbetting today so I had to deposit and convert to GBP so I entered 55 GBP to be taken out. I then sat down at a USD table and I saw the max I could sit down with at a limit table as $100.24, so no problem and I wrote it down into my stats stuff. Later on I checked neteller to see if one of my cashouts came through and I noticed that Ukbetting really took out $102.19, so do they use two difference values for the currency exchange or what? I would assume they use the same for the day and it changes at the beginning of each day?

[sfwusc]

does that work out to 1.9%?

if so, then you paid the tranfer fee or a fee for exchanging the currency.

-SFWUSC

[absou1ut]

It is close to it but it was not stated anywhere during the exchange. Shouldn't they let you know that they will charge you a 1.9% fee for the exchange? Also, Totalbet and the other crypto's didn't charge me the fee, so I am a little confused.

[Wyers]

Your Neteller account is in US funds.

Anytime you play on a site that uses a form of currency other than USD, you will be dinged a 1.9% transaction fee for the exchange.

EDIT: I'll have to check, but they may even pinch you twice. 1.9% for USD to GBP conversion (deposit), and another 1.9% coming out (GBP to USD).

[Thythe]

Oh they get you twice.

[Wyers]

Oh they get you twice.

I'm not surprised.

It would be nice if they would at least give me a little kiss on the cheek before jamming it up my...

You know... a little tenderness to ease my suffering.

[img]/images/graemlins/tongue.gif[/img]

[Dr_Freeze]

It took me a while to figure this out, but Neteller's currency exchange rate is always 1.9% higher than the "official" going rate, and this is where their stated "fee" comes in.

However, I've also noticed that totalbet and UKBetting and Littlewoods often use a more favorable exchange rate.

I think my last transfer to Totalbet was for 250 pounds, and it cost me about $3.00 after all of the currency exchange rates and fees were applied.

-Freeze

[Spartacus]

Shouldn't that have been much higher? 250 pounds ~ $455 x 1.9% = $8.64.

[Dr_Freeze]

That's what I was trying to say. Neteller charges 1.9%, but the favorable exchange rate at Totalbet, etc. made up for a portion of it, at least on my most recent deposit. Whether that will always be the case, I don't know.

-Freeze