List of eWallets for Canadians

[hypermegachi]

has anyone found out any information about the integrity of C2P? i can't find anything on the website. MB says they are regulated by the FSA, but i can find no similar guarantee for C2P.

[pegboy]

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The other option would be forgoing the e-wallets entirely and just cashing out directly from the site by cheque or EFT. I expect, however, I would be gouged on exchange rate by my bank just like Neteller gouged me. Could anyone who has experience with cashing USD cheques confirm this?

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I've always cashed my USD cheques through my account at Bank of Montreal Investorline. It is an instant broker so clients move alot of currency and are probably more aware of the rate of exchange.

At this moment a USD costs 1.166. A CD costs 1.146. Looks like they take a penny per dollar exchanged or thereabouts.

I don't think one can emphasize enough how important it is to keep funds in a single currency whenever possible. Financial institutions thrive off of fees and currency exchange is one of them.

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Very true. This also got me thinking...although it's a pain keeping track of my funds in two different currencies, I wonder if C2P's method isn't the best for Canadians? Our money's available to us in Canadian currency, so we don't pay any exchange when withdrawing from C2P, and they don't charge exchange fees moving on to/off of poker sites. Am I missing anything?

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You may not be missing anything but someone is. Perhaps it's a business decision to hold piles of different currency and not charge clients exchange fees. The flip side allows C2P to attract customers, keep things simple, and profit in other corners of the business. If the fees aren't hidden I can't imagine the situation lasting very long.

By the way, Thank-you Bobo. It's efforts like yours that make this nation great! [img]/images/graemlins/wink.gif[/img]

[Bobo Fett]

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That's EXACTLY what my bank said as well. I haven't gotten around to tracking that down, though.

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Would you recommend depositing using credit card? I think thats what you did wasnt it? I'd elected to try the bank transfer first for 2 reasons
1.) I wanted to be sure that my MB account was setup in USD by giving my bank US bills for the transfer (I did pick USD for the currency during my MB signup as well)
2.) I was worried about getting dinged by my CC for a cash advance.

How did you handle these two issues?

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I "cheated". Pokersavvy allows you to transfer your points to MB, so that's how I seeded the account...I had a few hundred dollars of points there that I used. I HIGHLY recommend them for a kickback site BTW, I like them at least as much as PSO, and that's saying a lot.

If it wasn't for that, I might have used a bank transfer, since my credit union will do any transfer <$100 for no charge, and that is one of the verification steps to increase your limits anyway...two birds with one stone. CC wouldn't be a bad option, you might get dinged for an advance, but it's just a one-time fee, and then you're good to go. It only needs to be a small amount...I think I did $20 with C2P. Once that is done, you just deposit to a site where you have some money, then cashout whatever you need back into the eWallet, and you're good to go! Of course, depending on the site, you may need to give them some play before cashing out...even if your deposit is a small amount.

[that_guy_33]

So Bobo,

The PokerSaavy offer seeds $90 to your Moneybookers account regardless if wether you used Moneybookers to deposit or not?

I am thinking about doing this with Stars. If I did would I be able to simply deposit the minimum into stars (assuming the minimum is <$90, then cash out my br to moneybookers?

Also, can you use moneybookers as a 'middleman' so to speak without registering any bank accounts or credit cards? (I can use other means for withdrawing)

Thank you very much in advance for anyone who can help.

[Bobo Fett]

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So Bobo,

The PokerSaavy offer seeds $90 to your Moneybookers account regardless if wether you used Moneybookers to deposit or not?

I am thinking about doing this with Stars. If I did would I be able to simply deposit the minimum into stars (assuming the minimum is <$90, then cash out my br to moneybookers?

Also, can you use moneybookers as a 'middleman' so to speak without registering any bank accounts or credit cards? (I can use other means for withdrawing)

Thank you very much in advance for anyone who can help.

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You can get money from PokerSavvy to MB by completing one of their offers. IE sign up for a site, deposit money at the site (by whatever means you like), and play the required hands. Once you get your SavvyPoints credited to your Savvy account (NOT the poker site account) within a few days, you can cash them out in $45 increments to MB. I did this never having used MB before.

Your Stars question confused me. First of all, neither MB nor C2P is available on Stars. ePassporte is the only eWallet option there for Canadians, AFAIK.

Finally, yes to MB as middleman, I believe. That's what I'm planning on doing. I've registered my CC there only to increase my limits, and will do the same with my bank account. I didn't need to, and if you're happy with their 1,000 Euro limit, or 6,000 if you verify your address, you shouldn't have to either. I likely will never use MB to withdraw any money, I never did with NT either...I always withdrew via poker site EFT. However, I may change this practice in light of C2P's currency handling...it might be best to withdraw from C2P now (see previous posts on this issue).

[that_guy_33]

Ok,

Sorry I didn't check to see which deposit options Stars took. On second inspection I might try the DreamPoker option since it supports both netteller (for the time being) and moneybookers.

And like you I will probably just use a pokersite EFT transfer for withdraw.

thanks again.

[cardman]

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Question regarding moneybookers:

I've gone to my bank to transfer funds from my td canadian bank account to my MB account. I gave my bank all the info that MB gave me to make the transfer (IBAN, SWIFT etc) but they also told me that they needed two more things: the address of moneybookers and the address of commerzbank (the bank that MB uses). Anyone else run into this roadblock or have the relevant info?
Thanks

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That's EXACTLY what my bank said as well. I haven't gotten around to tracking that down, though.

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Well guess what, I went to my bank and they asked for the exact same thing. Didn't know the addresses of either one but the teller said she might be able to do the transfer using the IBAN code alone. Doesn't exactly inspire confidence in me. Anyways, no way do I want to wait 15 min in line in the bank again, and I said just put the wire through with the IBAN code alone. Now, I'll have to wait and see if this works.

Apparently she said that the specific bank address would really help narrow down the exact specific bank to wire to. It seems that Commerzbank has a whole LOT of bank branches.

By the way, does anyone know how long it takes Moneybookers to respond to questions asked through their Messaging Centre?

[cardman]

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Does anyone know how much Moneybookers charges for Bank Transfers for withdrawals. I havent used them yet , so I thought I would try a small withdrawal directly to my bank account. Thanks

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When Moneybookers says "bank transfer" they mean bank wire. In Europe, bank wires are cheap like EFTs are in Canada. Unfortunately bank wires are very expensive in Canada. Especially international ones going to Europe. 30+ dollars for bank wires are common. Bank wires SUCK big-time.

Ask your bank what the fees for sending and receiving a wire are. Some banks in Canada charge a fee for incoming bank wires. I hate big Canadian banks and their damn fees on everything. Also ask them what they charge you for sending non-Canadian currency. They'll probably charge you a fee for that too. Moneybookers might not charge you much for withdrawing to your bank, but I bet you bank will charge you for an incoming bank wire.

[Bobo Fett]

I've sent both an email and a message through the "message center" in regards to the addresses...I'm sure I'm not the only one here who has. Maybe someone can post them here once they get them. I've found Moneybookers' mailing address on the site, but it's not much good without the bank's address.

[Bobo Fett]

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Has anyone had any luck with C2P support? I have sent them 2 emails over the last 4 days and heard nothing back...

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Phone them. I've gotten through in <5 minutes both times that I did.

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I'm going to second my own advice here...phone calls are definitely the way to go with C2P. I just received an email informing me that the currency of my account is tied to the official currency of my home country. Gee, thanks guys...I emailed you about that LAST Monday, and finally gave up waiting and got the answer by phoning your CS.