Party USD-CAN exchange rate is fixed?

Mossberg · #1 08-01-2007, 04:30 PM

I was just reading about how bad the exchange rate is at Party, so I thought I'd go check it out for myself (I don't play there much anymore). Anyways, on my cashout, it's saying that my dollar is at .92! XE.com has it at like 94.7 today. Am I missing something?

1C5 · #2 08-01-2007, 05:41 PM

checking now, will report back in 2 min

1C5 · #3 08-01-2007, 05:45 PM

you are right, it is better now.

_Towelie_ · #4 08-01-2007, 06:43 PM

Nice! Kudos to everyone who bitched to Party about this.

xxThe_Lebowskixx · #5 08-01-2007, 06:49 PM

that is still a v bad rate. there is no reason that they should be skimming it at all. i recommend opening up a USD banking account.

kyleb · #6 08-01-2007, 07:50 PM

my friend arb'd it and made $500 once

boohaa12 · #7 08-01-2007, 11:34 PM

deleted

pyedog · #8 08-02-2007, 03:40 PM

I don't understand how this is an improvement. Are you saying that they're taking 2.7% off the exchange rate as profit in each direction?

So you deposit $100 CAD and they only give you $92 USD instead of the $94.70 that XE.com shows? Or are you talking about cashouts and they're actually giving you the inverse of 1/0.92 = 1.087 for a big increase in the actual exchange rate to your advantage?

pyedog · #9 08-02-2007, 04:08 PM

I checked it out myself and they're taking about 1% off the real exchange rate for cashouts today. XE.com says the rate is 1.053 CAD per USD, and Party is giving 1.044.

So that is an improvement on the 2% they were stealing before, and also better than most banks give I think.

Ringmaster · #10 08-02-2007, 05:01 PM

[ QUOTE ]
So that is an improvement on the 2% they were stealing before, and also better than most banks give I think.

[/ QUOTE ]

Yup, I can confirm that the new rate is better than TD at least. As of today (Aug 2):

Party is offering 1.0437 CAD per USD
TD's prefered rate is 1.0353 CAD per USD