Neteller is screwing the Debit Card exchange rates! MUST READ!

[josie_wales]

That is odd.

They told me that they keep a set rate for a while since the market is always fluctuating.

I would imagine that converting either way, there is *some* type of an exchange rate. Anywhere else you would make an exchange there would be, ya know?

JW

PS When I made an exchange, the rate they sent me for USD --> Canada was = 1 : 1.342

[MrFroggyX]

PS When I made an exchange, the rate they sent me for USD --> Canada was = 1 : 1.342

Then you got screwed. The true exchange rate is 1.3697. You paid 2% on your transfer in exchange fee. (1.3697/1.3420= 0.0206***) www.x-rates.com

If you had transferred the full amount ($1000 USD) you would have paid $19.96 in exchange fee. $1000-$2 neteller transfer fee. = $998*0,02 = $19.96 USD

Or you will pay $19.96 USD + $2 USD transaction fee + $2.93 CAD ATM Cash advance fee = around $24..

Good going neteller.. [img]/images/graemlins/mad.gif[/img]

[GrannyMae]

Chateau du Supersex?

is that the BIG store on ste. catherine? it is nice, but pales to the US superstores that are the rage now.

the most decadent thing i do is go to club adonis and campus on certain nights and let the souse have fun. when i am ready to go, i grab a bit of penis as well, and spouse quickly shuffles me out the door. interestingly enough, since being spouse-ified, i have not been to a booby bar once. pre-spouse, that is the one and only reason i went 5 times a year.


the rest of the time we just shop shop shop.
(but not for dime bags anymore)
i had never been to the underground mall until i got married. now that is a daily spot. zzzzzzzzzzzzzzzzzzz

[GrannyMae]

They sent it to me as a bunch of jpgs

is it html, or jpegs? you can't drag and copy? i know they LOVE their html emails at NETeller, but i have usually been able to drag and paste it fine. hosting a bunch of jpegs would be a pain tho, i agree.

[MrFroggyX]

And some more sites:

USD----->CAD
http://finance.yahoo.com/currency?u ----->1.3717
http://www.xe.com/ucc/ ----->1.3724
http://www.oanda.com/convert/classic ----->1.3706
http://www.x-rates.com/calculator.html ----->1.3763
http://fx.sauder.ubc.ca/ ----->1.3760

Total------------------------->1.3734

Netellers current exchange rate:1.3474 Or 2% lower.

Now am off to chase the Lucy Jones Bonanza..! 9 straight hours off poker! Ahh, nothing beats that! [img]/images/graemlins/grin.gif[/img]

[SomeTimesIWin]

Before the dollar ammount always matched as if the ammount was deposited and kept in us funds on the card. That seemed to change some weeks ago.

[jujujaja34]

Forum,

If you do not have the international debit card you have nothing to worry about. If you are in the US, the default currency will be USD when you transfer money from your account to your card.

jujujaja34

[rusty JEDI]

Finally something I can answer. I asked neteller a month ago about the exchange rates and it was explained to me this way.

Their exchange rate is the average between the true exchange rate and the exchange rate offered by creditcards.

rJ

[Tsushima]

I live in England (so my local curency is sterling) and I have a neteller account in US dollars, because that is more useful online.

I recently got a neteller debit card and transferred $200 to the card. I was aware a $2 charge was involved however neteller converted my US dollars into Canadian dollars and my debit card balance is now only worth $190 as a result of this inexplicable currency exchange. As my account is US dollars and my local currency is sterling, does anyone know why neteller would make this currency exchange except as a way to rip me off. Presumably when I use a local ATM machine, I will then have to convert from canadian dollars to Sterling and lose even more. This makes the card pretty much useless unless I want to lose a significant chunk of any money I put on the card.

Tsushima

[MrFroggyX]

Their exchange rate is the average between the true exchange rate and the exchange rate offered by creditcards.

Yes. It has always been that. But 2-3 weeks ago it changed. Now their exchange rates is constant 2% lower than it was before. That means you are paying a 2% fee of everything you transfer to your debit card. Or $20 on the maximum transfer off $1000.