Canadians & Neteller

[PokerCat69]

I assume alot of Canadians have a USD neteller account, but deposit into their Canadian checking account. I'm just wondering if I setup a US funds account at my bank, would that save me the 1.9% fee when cashing out?

[busguy]

I think if you are a Canadian, they have to do transfers (electronic) in Cdn funds. If you get a check, they send it to you in American funds. You could always open an account in the States and link that to your Neteller account.

busguy

[afk]

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I assume alot of Canadians have a USD neteller account, but deposit into their Canadian checking account. I'm just wondering if I setup a US funds account at my bank, would that save me the 1.9% fee when cashing out?

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I haven't used it yet, but I believe party and skins have a direct withraw to bank account option that doesn't take the 1.9% that neteller does. I've just been eating the fee but I'm going to try this other option next time I cash out. I don't know about any other sites though.

If you have a USD bank account doesn't the bank also charge you to convert when you want to withdraw it? I don't know what the fee is but I think you have to pay something either way.

[AlexSem]

neteller asked my currency, I said Canadian Dollars. That's it...

When the funds go from partypoker to my neteller, they arrive in Canadian $s. Is there a charge, am I losing money? I don't know. Do you really care?

[busguy]

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I don't know.

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This I believe.

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Do you really care?

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Ah . . . you seriously should . . . cause it could cost you a LOT of money

[img]/images/graemlins/frown.gif[/img] busguy

[afk]

[ QUOTE ]
neteller asked my currency, I said Canadian Dollars. That's it...

When the funds go from partypoker to my neteller, they arrive in Canadian $s. Is there a charge, am I losing money? I don't know. Do you really care?

[/ QUOTE ]

While I don't know much about finance, the economy and all that jazz - the value of the Canadian dollar changes compared to the American dollar pretty much every day. So there is the potential to go both ways. I belive most posters here just have their neteller accounts in USD (myself included) to avoid these fluctuations. We just worry about it when we want to cash out to our bank accounts.

[stinkypete]

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When the funds go from partypoker to my neteller, they arrive in Canadian $s. Is there a charge, am I losing money? I don't know. Do you really care?

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you lose almost 2% compared to what you'd lose if you cashed out from party to a bank account. that's pretty significant.

if you transfer poker site A -> neteller -> poker site B you'll lose almost 4% of your money. if your neteller was in US dollars, you'd lose 0%.

[MrBlueNose]

You're losing money.

I was in the same boat. All I had to do was set up another account with them(I used another e-mail address but not sure if that is required), chose US funds this time and within 5 days I was set up. They closed my old account for me. E-mail them and tell them you want to change, and ask what to do.

[scotty34]

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You're losing money.

I was in the same boat. All I had to do was set up another account with them(I used another e-mail address but not sure if that is required), chose US funds this time and within 5 days I was set up. They closed my old account for me. E-mail them and tell them you want to change, and ask what to do.

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Yes you do have to use a different email address. This is exactly what they told me to do. And yes it is definetly worth it. Just think, every time you make a $1000 deposit for a Party reload, it costs you $20 bucks, and same for the withdrawl. I estimate it has cost me close to $200 because of my bonus whoring, and I have only been playing since January.