Party transaction rates and my (likely) useless protest

[kypreanus]

Party Poker at it again. I deposited $500, 3 tabled about an hour NL200, and made a withdrawal request.

Then I get this:

[ QUOTE ]
Dear ,

We have received your cashout request for $501.75 on 09/13/07.

However, we notice that you have made deposits $500.00 and cashing out
without adequate gameplay as per our Terms and Conditions. This is a bit
of a concern for us.

Please note that every player is expected to earn ‘Standard PartyPoints’
equivalent to or more than 15% of the amount deposited (in USD) in their
account before cashing out the same.

Please refer to our terms and conditions for more information:

https://secure.partyaccount.com/abou....htm#Cash_Outs

We have cancelled your cashout request and put the funds back into your
PartyAccount. You may, however, request for a cashout after earning Standard PartyPoints as specified.

Please access the following link to check how many PartyPoints you have
earned:

https://secure.partyaccount.com/pc/p...ly_summary.htm

Please reply if you have any questions or need any clarifications, and
we will be more than glad to assist you.

Should you have any further queries, please feel free to contact us.

Contact us anytime, we are available around the clock to assist you with
your account related questions and suggestions.

Sincerely,

Nizamuddin
Investigations Team
alerts@PartyAccount.com

[/ QUOTE ]


So they will keep my money until I have played enough. I did generate plenty of rake 3 tabling for an hour or so. Guess not enough. This is rogue stuff. Just a warning for you guys.

I got furious with this & the outrageous currency conversion fees and Ive decided to play at Party no more.

[Josem]

[ QUOTE ]
So they will keep my money until I have played enough. I did generate plenty of rake 3 tabling for an hour or so.

[/ QUOTE ]

No, you did not.

They're quite clear in their requirements (which is in contrast to almost every other site)

[ QUOTE ]
This is rogue stuff.

[/ QUOTE ]
No, it is not. They bear costs on your transactions. It's not unreasonable for them to recoup those costs.

No other business would be expected to do this, so I don't understand why you'd expect that from Party.

[ QUOTE ]
I got furious with this & the outrageous currency conversion fees

[/ QUOTE ]
Obviously, if you did less currency converting and more playing, you wouldn't have this problem.

[ QUOTE ]
and Ive decided to play at Party no more.

[/ QUOTE ]
fair decision. it's a free market.

[kypreanus]

Josem do you understand that they are snatching around 6 % currency conversion fee that should GENEROUSLY cover any e-wallet costs. Bastards. Do you have any idea what kind of implications it has on a winrate?

I know no other site that doesn't let you withdraw after 3-tabling an hour. I've played on Party for years and this is the first time they pull these stunts. The whole new party poker point system is a lot harder to understand and rationalize how much does one to play to get their money out. It's not like they proudly advertise on their front page that they wont process withdrawals unless you have generated a ridicilous amount of rake.

After making a withdrawal you assume that you are going to get your money, and not to fight with the support. No BS, no outrageous currency conversion fees, no extra play required.

[CasperW]

[ QUOTE ]
i feel the same way but unfort am much lazier than you -- let us know if anything comes of it. my guess is that if u catch a support rep on a good day he might offer u some sort of $100 deposit bonus.
p.s. use their bank wire withdrawal method and u can keep everything in US dollars. or request a check in USD. or open a moneybookers acct in USD and request checks or EFTs from them. ur not stuck with party's terrible exchange rate. it's just a headache to get around.

[/ QUOTE ]

For Canadians, Party won't let you receive a cheque in USD! Wire or Moneybookers is probably your only option.

[Allinlife]

so is the best way to cashout for Canadians is to cashout to moneybookers, request USD check then convert it at local bank?

[PartyScout]

[ QUOTE ]
This is basically a cross post from a message I created in a thread in the bonus section. I'm a bit slow coming to this realization but I did not realize the awful exchange rate and transaction fees being charged by Party Poker.

At the beginning to June I lost my rakeback at Party so I made the decision to move to Full Tilt. I play 100NL 6 max. In the daytime hours there is no comparison. Party is far better than FT. Because of the lack of Americans and the time zone difference with the Europeans you can find great games at 10 in the morning EST.

In the evening (EST) Party isn't all that great. There are a lot of regulars at 100NL and the table averages take a large dip with it being too late for many of the casual European players. And after 11 PM on a weeknight? Forget it. I'm not saying that the games can't be good at night but they are not nearly as good as the daytime games.

Full Tilt is the opposite with games being tighter during the day with great games in the evening.

I played a Party pretty much exclusively for the last 2 years and never had to make a deposit other than to take advantage of the occasional deposit bonus. I withdrew all of my funds at the beginning of June and only yesterday made a deposit to take advantage of the deposit bonus. Maybe I've been living under a rock but I was shocked at the profit they were making off of these transactions. I sent the following letter to Party:

__________________________________________________ ____


To whom it may concern,


With the exception of the last month I have been a regular player at your site. Today I saw that it was the last day to take advantage of a bonus offer so I decided I would start playing again. I made a deposit of $700 Canadian to your site and after the exchange my account was credited with $643 US. I was surprised by the terrible exchange rate so I went to your Cash Out page to see what my account would be credited if I withdrew my funds immediately. I was shocked to see I would receive only $656 Canadian. That is $46 in fees for a simple deposit. I'm down $46 and I HAVEN'T EVEN PLAYED A HAND. I addition to giving yourselves a very profitable exchange rate you have the nerve to charge an additional $2.50 fee on the withdrawal. This is shameful.

In the current climate where it is much more difficult to move money in and out of poker sites you should be making every effort to make this process as easy as possible Unfortunately you have opted to make an obscene profit off of these transactions. My intentions are as follows. I am a member of several poker forums and I plan to be very vocal on this matter. I will also discourage other poker players from playing on your site. I will continue to play until I clear this bonus in order to recoup some of the costs of this deposit however this will be the LAST time I play at your site.

Your profit should come from raking pots, not shamefully stealing money from players on transactions. To charge $46 in fees on a $700 deposit is grotesque and greedy. I would hope that this letter makes it beyond the computer screen of some first level customer support representative and into the hands of someone who has the common sense to effect some change in regards to these practices.

Sincerely,

XXX

__________________________________________________ ____

I don't expect this letter to make a shred of difference but I was so frustrated that I felt I needed to say something. I also do not believe that it is worth staying at Party because they games are so profitable it outweighs their dickish behaviour. There are plenty of great games on the net. About a billion players are logged on to Stars at any given time and about half of that on FT. It's not like all these players are sharks who are killing the game. Party was my home for several years but there is no way I can stick around with these ludicrous exchange rates. It's a slap in the fact to their players.

[/ QUOTE ]

I agree.terrible and it just keeps getting worse.

England Re: Official Party Regulars Thread [Re: Fight Club]
#12086785 - 09/14/07 11:48 PM Edit Reply Quote Quick Reply




Quote:
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Am I missing something here? I'm not cashing out until Party explains this.




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One way to get around this was to have an E-wallet.I have a click-2-Pay E-Wallet their are others like Netteller.

I just looked into cashouts myself and im pretty disgusted to have learned that Party Poker have now made it so we cant send USD to a GBP E-Wallet account.It will be transfeered by party robbing us of around 2% as the high/low exchange rates site which does this for them

The only way now to get around this i think would be to have 2 diffrent E-Wallets.One set up in USD then the other set up in your home curency(mine GBP).

Then simplally:

Cash out from PP in USD to USD E-Wallet account
Soon as this has cleared Cash out from USD E-wallet account to your home currecny account(mine GBP)

Click-2-Pay use to Central-European-Bank to convert and dont make monies from cash conversions.I have only used these once but i was haoppy with the exchange.

Hope this helps everyone.

If anyone has another idea please PM me or post here

PartyScout


Like you say wires this is pretty bad im currently looking into things to try to get around the ludicrous charges.If anybody has any ideas please post here or PM me

[Shizzle12345]

my moneybookers is in euros and party is now in euro's. So you guys say that if i transfer like 500 euro's from MB to party i get charged a ridiciously high fee? I mean if its USD its basicly free. Can they get away with this?

[BigPoppa]

Shizzle, your Party account is denominated in Euros or you converted some of the money in to Euros?


It's in the conversion of one currency to another that they ream you, not in transferring to an eWallet without conversion.

[Kriber13]

As a swede I just opened up a USD account in my bank and witdraw money via bank wire, normally works great real fast cashouts except for one large withdrawal which security took about a week to approve, but other than that it works great.

No currency conversions.
No fees (aces club and up).
Fast moneys in account within 2-3 business days.

Go ahead and try that optiob if possible.
Good luck!

[BigPoppa]

My MB is in USD, so I use that to shuffle money between sites. When I cash out, I wire from MB to my Euro-denominated bank account and it does the conversion then. So I only have to convert money once (on cashout) and I don't think MB is screwing my on the conversion.