Neteller killing me...

[AAmaz0n]

I've made a withdrawal at Washington Mutual, it at least saved me the normal $1.50 to $2 fee that the ATM gets on top of the $1.50 that Neteller charges to take out my own money.

We really need some kind of central clearing house. It would make sense; they would have a pretty large "hold" of floating money that they could draw interest on with the volume of accounts they would have.

Shauna

[gabyyyyy]

Fees are much lower. No having to transfer to debit. Once money is in your account there, you can withdraw immediately from your atm card. Best of all getting an atm card is automatic after your first deposit, and free.

Fees are $1.50 per atm withdraw. There is a daily cap, but the fees are always $1.50 per withdraw.

[BradleyT]

You're lucky that Neteller allows that much. My paypal debit card only allows $400 per day to be withdrawn.

[soooted]

[ QUOTE ]
I've made a withdrawal at Washington Mutual, it at least saved me the normal $1.50 to $2 fee that the ATM gets on top of the $1.50 that Neteller charges to take out my own money.

[/ QUOTE ]
Did you withdraw just $500 or could you take out $1000 from WAMU's ATM?

[AAmaz0n]

I was just pulling out less than $500, so I can't say what the max was for the ATM. It was a very friendly machine though, much less formal and more folksy than most in asking what I wanted and what it could do for me. [img]/images/graemlins/smile.gif[/img]

Shauna

[soooted]

So I just went to WAMU and could only take out $500 at-a-time. It'd be nice to find a surcharge-free ATM that lets you take out $1000 per shot.

So my $980 Neteller withdrawal cost me:

$2.00 to Neteller to xfer $998 to my debit card
$1.50 ATM fee on $500 from ATM
$1.50 ATM fee on $480 from ATM

Neteller should at least let you deposit $1002, or take the $2 fee from your balance, not just let you xfer $998.

They sure are raking it in....

[ramjam]

</font><blockquote><font class="small">En réponse à:</font><hr />
i suspect many of our Zoo-ers from non-US lands get burned worse by foreign currency-exchange rates.

[/ QUOTE ]

I have a US bank account and moved some cash from there to Neteller when I started playing about a year ago - I have just let my BR grow over that period so have personally suffered no charges.

Also, it is possible for Britons without US bank accounts to play at some sites without being hit by transaction or currency charges. Ladbrokes and Victor Chandler both operate sterling cashier accounts. Also, there are four UK skins into the Cryptologic network that operate in sterling. Perhaps most importantly, Coral/Eurobet is a Party skin with a separate European banking system. In all cases that I'm aware of, when you convert money between your sterling cash account and dollar poker chips, it is done at a mid-market/no load rate that is the same for transactions in both directions.

[Ro-me-ro]

They sure are raking it in.... Once again,

Neteller make but $2 on the deal. The charges per transaction are NOTHING to do with Neteller.

i would be interesteed to hear from any brits, belgians and canadians (or others) on how much it costs to get their money changed over to their currency of choice.

As requested here is an example of charges from my Neteller Debit card taken from my statement:


11/20/2003 2:16:21 Deposit $1,346.61
11/20/2003 5:36:22 Cash Withdrawal $-677.11
11/20/2003 5:36:22 Transaction Fee $-2.93
11/20/2003 6:25:59 Cash Withdrawal $-564.27
11/20/2003 6:25:59 Transaction Fee $-2.93

Note that the funds are first converted to Canadian Dollars and then my withdrawals were for £300 and £250 respectively.

2.268 exchange rate (inc fees) with the current exchange rate for UK to CND being 2.25 obviously these transactions were over 3 weeks ago.

All in all not bad - I still have issues regarding the Terms and Conditions stated on Netellers site concerning the debit card and hopefully once I get the answers that I am looking for I will post again on this issue.

If anyone wants to discuss the NDC with me feel free to PM.

Regards

Rom

[dink]

doesn't the netteller card charge you $7 every month if you don't use the card? I remember reading this and this turned me off getting a card to use here in Aus.A cheque only takes two weeks for me and I think that is pretty good seeing we live on the other side of the world. Yeah the exchange rate is crap at a bank but you get that on a big job.

dink

[soooted]

[ QUOTE ]
They sure are raking it in.... Once again,

Neteller make but $2 on the deal. The charges per
transaction are NOTHING to do with Neteller.


[/ QUOTE ]

OK... let's differentiate between what Neteller makes vs. what it costs us, the individual consumer, to get access to our money. I disagree that Neteller only makes $2 b/c I know they mark up the ATM charges.

As I said before, it costs me $5.00 to withdraw $998.00 and I used a no surcharge ATM.

Perhaps you haven't seen the Neteller fees:

Neteller fees here

You even get charged $1.00 at the ATM if your request was declined! (e.g. you make a typo or forget you only had $496.50 in your account instead of $500 and tried to withdraw $500).

If you're trying to say that Neteller only makes $2 because the $1.50 fee per ATM withdrawal is paid out as part of their debit card transaction, frankly, I DON'T CARE!! It still costs me, the consumer, $1.50 per ATM withdrawal. And this is what we are talking about.

And also, why does PayPal only charge $1.00 but Neteller charge $1.50? If Neteller has to pay a third party debit card processor, I guarantee you it is less than $1.50. They mark those fees up... it's another way to milk that small % out of all money that flows through them.

Perhaps you can elaborate more on what you mean with some specific facts??