I posted it earlier in Finance forum, but it seems it was the wrong place to do so.
So here it is again:
"I was recently thinking a lot about what's the best choice for me.
Many sites allow you to choose the currency you want to keep your balance in. Poker games are played in $. Every time i put money on or off the table pokerroom converts it.
Most of my accounts are in $ now.
I moved to UK recently and am considering switching my poker accounts currency from $ to £.
It has two significant advantages:
- I can withdraw from my poker accounts to my UK bank account directly(no exchange costs).
- I don't have to worry about $ condition anymore.
It seems all good as long as pokerroom is using the same rates both when putting money on and off the table.
I asked Betfair about it. Here's their response:
"Rates are normally applied once daily, which means they will not alter during the day.
We use an international Bank Forex rate USD/GBP. Similiar rates and conversions can be found on
www.xe.com"
In my understanding this means that rates are the same and i won't be losing money on conversions.
I would appreciate if someone with better knowledge could confirm if I'm right about it.
It is an important decision for me. Do i miss anything here or is it indeed the best choice for me?
If that's not the right forum, feel free to move.
Thanks in advance for all opinions. "