A question to any Canadians here who use Neteller (NC)

[Willett72]

Not sure if this is the right place for this post but I couldn't think of anywhere else to put it Mods can move it if necessary.

Just the other day I pulled all my money out of one of the sites I play. The total was $714US, because I'm an idiot I forgot to make sure that the withdrawl would come to my new neteller account. I created a new one a month or so ago in US funds instead of Canadian just to avoid conversion fees, you're only allowed to have 1 neteller account so my old one was closed. So when I withdrew my money of course it ends up in my old account which I no longer have access to. So I talk to some neteller chick and she tells me that she will have it transfered to my new one. The problem is when it gets there it has been reduced to $686US so i'm out $28 which isn't the end of the world but it's half a buy in at my main game. But anyway my real question is what do the rest of you Candians do? Since I changed to a US neteller acount I don't have to pay the fee to transfer between it and poker sites which I do quite often to collect bonuses and stuff, so thats fine but Neteller told me that they take a 1.9% fee each time you convert funds. If I want to get money back to my Candian bank account they are going to rip me off again, for the higher stakes guys thats quite a fee try to take 5k out. I never noticed this before and assumed there was a cap on how much the fee could be, I'd never moved more than a few hundred at a time. So is it better to get a bank draft from the poker site in US funds then take it to your local bank and get them to convert it or what is the best way to keep from getting screwed over by neteller?

[Ren McCormack]

I made my neteller account in US$ from day one but to avoid the huge fees if i was withdrawing more than 2k i would get a check fedexed from neteller which cost 25$.

[elvirto]

I have a USD account as well and always do USD cheques for withdrawals. I don't remember it being $25 though? It was $11 and I think it was increased to $15 (and that's a rush).

There's no other way to bypass neteller's currency conversion. If you're just keeping the money in an offline bankroll, you might want to keep it in a USD account as well. My bank has a no monthly fee account, and just 75c per transaction.(Now if only neteller could do a USD EFT to it). The bank will have better exchange than neteller, but they can still gouge you. You might want to keep it US and see if the dollar rebounds.

[Willett72]

Keeping an account in USD sounds like a good idea, I actually didn't know this was possible but I'll look into it thanks.
Would it be better to just bypass neteller altogether and withdraw the money some other way straight from the poker site? I don't know much about using other methods as I've never personally used anything but neteller, but the one site I play at you can request payout via bank draft but I don't know what kind of fees that would have. I don't withdraw back to my canadian account often but as I move up in stakes and since I'm going to school now I will most likely use poker winnings as extra cash now that I don't have a real job. I just don't want to get raped by neteller anymore.

[TKWest]

I am from Canada.

If I am not in too big a rush I request a cheque. It comes in US$ and I deposit in a US$ bank account I have at a local bank. Cheques take about 1 week to arrive. The bank may put a "hold" on the cheque untill it clears but I just leave the funds in that account anyway. I avoid any fees by doing it this way.

My netteller account is in Cdn$ so it is a pain and expense. I think I will switch it to US$ as well and then link it to my US$ bank account.

[-zero-]

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My netteller account is in Cdn$ so it is a pain and expense. I think I will switch it to US$ as well and then link it to my US$ bank account.

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Neteller wont link to a USD bank account.

[Eder]

EFT from Party is best deal...otherwise mailed check from NT in US funds is free...takes usually 3 days

[yellowjack]

I agree with Eder, deposit into PartyPoker and withdraw from there. The exchange rate is much better; for example I would get another $4 per $100 if I cashed out today.

[Willett72]

I don't have a party poker account and have no intention of getting one in the near future. I primarily play on Pokerstars, Ultimate Bet, and Boomerang Poker which is on the Action network. I also have an account at Absolute but rarely use it, I do plan to sign up for Full Tilt soon for their deposit bonus + rakeback. Thats why I liked neteller because I play on a few different sites that don't have the same withdrawl methods but I can use neteller for them all. I'm going to look into getting a USD account at my bank I'm sure they have lower fees for converting currency than neteller. Even if i get a check sent to me straight from the site I still have to get it exchanged somewhere so I can use it here.