Canadian Neteller Users, need advice on transactions

[Flint{$N}]

Hello all,

I'm from Toronto.

I've setup a neteller account and I would like to deposit some money into my account so I can start playing poker again.

However, I have a little bit of a problem.

Initially I wanted to use my USD bank account with neteller. They told me that they would convert my USD to CAN (since I am a canadian) and then back to USD (into my neteller account). Because I'd lose on conversion, I went to the bank to see what they were offering. It would cost my around 25 dollars to wire to neteller.

Basically what I'm trying to get at is, I'm trying to save a few bets. What is the CHEAPEST way to get money in and eventually out of neteller?

Thanks so much,

Flint
Toronto

[stinkypete]

i tried to use a USD bank account too. they wouldnt let me. so im using a CAD one now.

as far as i know, there's no good way to get USD into a neteller account if you're canadian.

[LImitPlayer]

I was in the same situation as you. Neteller was not offering enough of an exchange rate.

I called neteller and they converted my account into a US currency based account. Now I just transfer funds into a US bank account that I set up at the CIBC. It was quite simple.

At the time I changed my account into US $ I had about 1k in there in Canadian funds so I simply withdew it and waited until the account had been switched over to American currency before I withdrew any more money from Party.

By doing this i get roughly .04 on the dollar more which may not seem like much but its $40 extra on every 1,000

[detruncate]

After opening a USD account and 3 attempts to receive the micro-trasfer, someone finally got around to telling me that Canadian-based USD accounts clear differently and were not compatible.

Do you use cheques or have you managed to link your USD account for electronic fund transfers?

[stinkypete]

[ QUOTE ]
After opening a USD account and 3 attempts to receive the micro-trasfer, someone finally got around to telling me that Canadian-based USD accounts clear differently and were not compatible.

[/ QUOTE ]

this is exactly what happened to me. i wasted a crapload of time taking turns contacting neteller and my bank trying to figure out where the stupid microdeposits were.

i experimented with the cheque withdrawal thing but i had to wait a month for my first cheque to clear so that ended fast.

[River2Pair]

Try this forum, if you haven't already.

[Flint{$N}]

Neteller deposited US funds DIRECTLY into your canadian USD account?

They told me either way you go, deposit or withdrawl, if your a canadian, they'll always convert into CAN. So if you have an american account at cibc and netller per se, when you withdraw from neteller they convert to CAN, then back to USD for the cibc account.

I spoke to someone at RBC, they told me that they could wire money out of their american account. Although it'll cost around 25 bucks [img]/images/graemlins/frown.gif[/img]

Flint

[LImitPlayer]

Disclaimer:

I have not yet withdrawn money from neteller into my US based account. I have just set this up this week and havent made a withdrawl yet.

As of today neteller sent the micrdeposit into my account and am waiting for it to show up so I can certify my account.

I hope this will work as i wasted an hour at the bank for nothing

[LImitPlayer]

I just got off the phone with neteller, they informed me that US accounts and Canadian based US accounts are not compatible and it will not work. You think they would have told me this when I was doing the changeover. It seems I was wrong, I just assumed it would. However;

As a Canadian you are able to change your neteller account into US currency and request a cheque by mail instead of an eft. The cheque will be in US currency and it can be deposited into your US account here in Canada and remain in US currency. Then you can withdrawl it from you US account and get the extra .04 or .05 on the dollar compared to what neteller will give you.

There is a $2.00 fee for them to write the check. The only other drawback is that it takes about 2 weeks fore the check to get here and you may have to wait a period of time for your bank to clear the check

This does not solve the deposit issue but for those who withdrawl large sums of money from neteller it may be worthwhile. It is for me anyway.

[LilPlaya]

I set-up my Neteller account before a Canadian account was an option so my suggestion may not work.

I live in Vancouver, and went to Washington State to set up a US account at a US bank. I then use the debit card to withdraw money from that account.

I has worked well, however I haven't tried to deposit form my US account yet only withdrawls.

Might be worth the time if you losing too much on exchange fees.

LilPlaya