Party's huge rip-off of Canadians (exchange rate)

[CasperW]

I assume people have noticed this. On Party just now, the cashier screen told me it would credit me US $465 if I did an EFT deposit of CDN $500.

I then checked the withdrawal option and to cash out US $465, I would be credited CDN $476 and not CDN $500!!!! wtf!!!!!!!!!!!

Also nevermind that EFT deposits are free but EFT withdrawals cost US $2.50.

[teddyFBI]

old news.

get a USD bank acct w/ ur canadian bank and use party's wire w/d to keep everything in USD.

[CasperW]

Will do.

Anyway, just checked and the current exchange rate from xe.com is:
1 CAD = 0.949129, 1 USD = 1.05360 CAD

So, using Party's rates, their deposit rate is:
1 CAD = 0.092 USD, 1 USD = 1.075 CAD

Their withdrawal rate is:
1 CAD = 0.0976 USD, 1 USD = 1.023 CAD

So... that means party is screwing Canadians both ways.

[teddyFBI]

yep, they got quite a racket going over there. it's been mentioned several times on the forum.

u'll get precisely zero sympathy here, though, b/c it's a bunch of jaded americans who are doing nothing but cursing ur name for still being able to play on party.

[themandude]

Ya it's [censored] terrible, a terrible rate, terrible bonuses, not to mention is [censored] rigged, I'm never playing at party again.

[Hallett]

Terrible bonuses........
And, if you deposit $500 to take advantage of a new bonus, and then try to take the $500 off after you clear it, you cant. Does not matter what your balance is, your whole account is held until it clears. So, if you have 20K in there, and then deposit 500, the whole freaking works is tied up until the 500 clears....

"You dont understand, I dont want to cashout the uncleared money, I want to cashout the money that either cleared months ago, or was won by me on your ridiculously soft SNG's.

[Lessu]

I agree with the exchange rates. They were awesome like 6-8 months ago and the only place I withdrew through was party. Now I can't even think about it. It's as horrible for us euros too.

about the bonuses. If you think how soft the games are and how good the software is any bonus is very good at party. Although they screwed up a bit going to partypoints they are still very playable especially if you are a reg. Bonuses have gone so much worse in the last two years and there are only bonuswhores like me who can be blamed.

and to hallett: there is no reason to whine about that. The bonuses usually expire after 7 days so that's not that long time to wait that you can withdraw and if you read the t&c you would know that before you deposit.