Neteller/Currency question

CardSharp · #1 03-23-06, 04:01 PM

I didnt realy know what section to put this in so I put it here. I am about to make my first deposit on a poker site and have a question about the currency exchange. If I have $50CND in my neteller acount that i wish to deposit on a site that uses USD do I enter $50 for my deposit or do i have to enter the USD equivelent? Any help would be greatly apreciated.

bunny · #2 03-23-06, 04:22 PM

First off, you're making the deposit through your poker site account from your Neteller account. Therefore it will be in USD. ($50USD) The exchange rate for $50USD is about $58 or $59CDN, if I'm not mistaken. You'd have to have at least $60CND (in your Neteller account) in order to deposit into your poker account.

CardSharp · #3 03-23-06, 04:40 PM

Ok, thats what I thought. Thanks for clearing that up.

Talking Poker · #4 03-23-06, 09:29 PM

Definitely not a TP.com Suggestion/Problem, so I'll move it to General Poker Discussion for you.

I assume bunny is right, but check with Neteller to be sure. The amount you deposit on the poker site will probably be in USD, so you probably only have enough to make a $40 or so deposit.

Lots of Canadians here. Someone should know.

MAYHEM45 · #5 03-23-06, 10:15 PM

Dude, do yourself a favour and open a USD account right now. NT rapes you on every transfer you make for 1.9% when you convert from CAD to USD and back again.

bunny · #6 03-23-06, 10:20 PM

More info please. Where do I get a USD account?

I don't think we pay the 1.9%. To my knowledge, I believe it's the poker sites who are charged that fee. Correct me if I'm wrong.

My understanding is if you make a transfer from a poker site to your neteller account, either cashout or depost; the fee is charged to the poker site. If you make a neteller to neteller transfer then the receiver is charged the fee.

CardSharp · #7 03-23-06, 10:29 PM

Thanks for all the info. I talked to netellers suport, if you want your neteller acount in USD you'll have to contact support and open a new acount. Seems like quite a hastle to me.

MAYHEM45 · #8 03-23-06, 10:37 PM

Not a hassle at all, ten minutes tops.

And yes Bunny I know of "that" fee, but there is also a fee charged on each currency conversion.

Try it yourself. Deposit 50 on party, then cash it out right away. See if the numbers match up.

bunny · #9 03-23-06, 10:47 PM

I think I'll be better off checking my previous statements.
Don't want to be charged for testing it out.

edit: You're absolutely right.

I asked them repeatedly, to explain to me, all charges I'd be incurring, before signing up with them. They explained about the 1.9% merchant to merchant/neteller to neteller. Funny how they "forgot" to mention this "surcharge".

TalkingPoker: I don't think yet another post to my last post was needed in order to reply to Mayhem's question. That's the reason I chose to edit.

bunny · #10 03-25-06, 12:00 PM

Mayhem was right and deserves bonus points for this money savings post.
Thanyou Mayhem.

I just switched to an American currency account with Neteller.

It's simpler than I thought & no hassle at all.

All you have to do is:

Step #1: go online to and open up another account(same information as you had on the canadain currency account) except when asked which currency, click on USD. When all is completed, go to ...

Step #2: Call them to activate it & ask them to close your old account.

That's it.

Talking Poker · #11 03-25-06, 12:08 PM

I guess I'm just going to have to reduce the amount of time that people are allowed to Edit their posts.

bunny · #12 03-25-06, 12:19 PM

No. Don't. It's already too short as it is.

I'll heed your request and not do it as often, alright?

Talking Poker · #13 03-25-06, 12:26 PM

I don't understand what the problem is. All I know is I've asked you at least 3 or 4 different times to stop adding new information to old posts (I'm not going to go over the reasons for this again), yet you continue to do it. Pretty much daily. Editing is for changing typos, etc... not for changing entire posts or adding gobs of new information, or replying to posts made AFTER your posts for that matter. That's just ridicuous.

Start following the same guidelines as everyone else, or else I'm gong to have to tighten up the "rules," which effectively punishes everyone else who doesn't abuse to Edit button.

bunny · #14 03-25-06, 12:30 PM

Just didn't make any sense (to me) to restart a new post, on the same subject, one right after another.

But as you wish.

Talking Poker · #15 03-25-06, 01:50 PM

I know you still don't get it for some reason, but I don't think I can explain it any more clearly.

Editing a post hous later with new information is "wrong." Making a new post is "right." Just take my word for it.