Cashing out with currency conversion (EUROPEANS)
 

What's the best option? Neteller has a 1.9% fee for currency conversions. ATM I'm playing on stars, they don't take a fee on the conversions so probably my best bet is to order a check (it comes in Euros).
However, I'm switching over to Party and they take a ridiculous high fee on the conversion. I can get the money on Neteller and then pay the 1.9% for the cashout to my bank account, but, you know, I'd like to keep that for myself. How are others processing their cashouts?

Re: Cashing out with currency conversion (EUROPEANS)
 

the party regulars thread in MSNL has a heap of discusison about this stuff.

Re: Cashing out with currency conversion (EUROPEANS)
 

I use NETELLER, and my account is in Dollars. Most poker sites are in Dollars (well, they used to be), and I move money between sites more often than I withdraw to my bank account, so I prefer to only pay the conversion fee when withdrawing from NETELLER.

Checks are virtually extinct in my country. I pay an assload of fees to cash foreign checks, and the bank tellers usually have no clue how to deal with them and give me wrong information all the time about the fees.

Re: Cashing out with currency conversion (EUROPEANS)
 

I posted this in the MSNL thread but didn't get any responses, so I'll try here:

I have currently no money on Party and plan on doing the following:
Change the currency to Euros and deposit directly from my Euro bank accout via bank wire. There should be no conversion involved, when I deposit €1000 there should be €1000 in my Party account. Cashing out basically works the same, either by check (in Euros) or bank wire ($2 fee but whatever).

So, can anyone confirm the only currency conversion involved in my plan is when getting money on a table and taking it off again, both with the same conversion rate, so I don't lose a cent? This seems to be the only way not to pay any stupid fees.

Re: Cashing out with currency conversion (EUROPEANS)
 

I live in the UK and used to always cash out using Party before they introduced the charge and rubbish exchange rates.

I was also unsure what was the best way to withdraw my money so last month I withdrew equal amounts ($215) from Party and Neteller at the same time to compare.

Party ended up depositing £102.29 in my account and Neteller deposited £104.13. Not sure if a larger amount will give different results though.

Re: Cashing out with currency conversion (EUROPEANS)
 

Like I said, neteller takes 1.9% of your money, which is quite a solid chunk. $190 off of every 10k. I try to get around this by having the party account in the currency of my country, Germany, so Euros.

Re: Cashing out with currency conversion (EUROPEANS)
 

Think about opening a currency account at your local bank. That way you can withdraw for free via bank wire at most sites if you play a fair volume.