I'm canadian on party, way to avoid the exchange rate?

[spacebetween]

is there a way to avoid getting ripped off? My party account is in USA and usually im withdrawing by my visa card.

[Hallett]

[ QUOTE ]
is there a way to avoid getting ripped off? My party account is in USA and usually im withdrawing by my visa card.

[/ QUOTE ]

I have always found their rate to be decent, but not as good as stars. If I was cashing out tens of thousands, I would care, but by converting my money to CAD, they are doing me a service, and I don't mind paying. What I usually do before a cashout is go to the currency converter on Yahoo, and compare. Most banks have a buy and a sell rate, the difference or "spread" is their profit. I have no problem with them making a small profit for me. I bet if you compare the rate Party charges to that of Yahoo, and add a 2% spread on both sides, Party is reasonable.

[davmcg]

[ QUOTE ]

I have always found their rate to be decent, but not as good as stars. If I was cashing out tens of thousands, I would care, but by converting my money to CAD, they are doing me a service, and I don't mind paying. What I usually do before a cashout is go to the currency converter on Yahoo, and compare. Most banks have a buy and a sell rate, the difference or "spread" is their profit. I have no problem with them making a small profit for me. I bet if you compare the rate Party charges to that of Yahoo, and add a 2% spread on both sides, Party is reasonable.

[/ QUOTE ]

Did you see the other post on this subject? If you bought in 1000 Canadian and cashed out the same amount you would receive 928. This is a spread typical of a high street forex retailer and not the wholesale markets that Party operates in. (Indeed if they were properly managed they wouldn't convert any currency other than their revenue - they could just hedge against excessive movements)

[1C5]

[ QUOTE ]
Party is reasonable.

[/ QUOTE ]

BHAHAHAAHHAHAHAHAAHAH HAHAHAHAHAHAHAHAHAHAH HAHAHAHAHAHAHHAHA HAHAHAHAHAHHA HAHAHAHAHAHHAHA HAHAHAHAHAHAH

[_Towelie_]

[ QUOTE ]
If you bought in 1000 Canadian and cashed out the same amount you would receive 928.

[/ QUOTE ]

WTF is it really that bad now? Jesus Christ that is terrible.

[spacebetween]

but how do you guys deposit?? Is their an ewallet available for canadians or something?

[cardman]

[ QUOTE ]
but how do you guys deposit?? Is their an ewallet available for canadians or something?

[/ QUOTE ]

Canadian e-wallets thread

[-zero-]

I opened up a USD account at TD and received USD bank wires from Party and let my bank convert it whenever I wanted. Not worth it unless you're dealing with decent chunks of money because Party charges $12 to send and TD charges $10 to receive.

[Scotty_12]

Try emailing your VIP host (if you are in deuces club) and complaining to avoid it.


I've encountered alot of difficulty trying to cash out on party rec ently, here is a chronolgy of emails with my 'VIP HOST' (LOL) maybe if a bunch of us complain about the same thing, they will do something about it? Then again, maybe not:




_____________________________________


I have two questions regarding cashout.

#1 - As a deuces club member, is the $35 charge for premium delivery
waived when I cash out?

#2 - I wish to cash out in USD, is this an option? If so, how do I go
about doing this?

Many thanks,

Scott

_____________________________________ (7/4/07)


Dear Scott! Thank you for contacting us. Unfortunately, it is impossible
to cancel cash out fee. But for members of Deuces club we will
compensate these expenses.
The maximal sum of compensation is 100 USD, is compensated no more than
5 transactions per month.
For cash out in USD you can use: check, online wallets (WebMoney,
Moneybookers, Neteller).
Thank you for choosing us as your online gaming site! In case you have
any further queries, please do not hesitate to contact us. We will be
more than happy to help you. Kind Regards, Leonid VIP Host
Dear Player,

Thank you for contacting us.

_____________________________________


So let me clarify something. If I cash out $15000 in US dollars and do
so with the premium delivery service (which costs $35 USD) how am I
going to be compensated for the service?

Also, where do I select the US dollar for my cashout option? Am I able
to just request the cashout through you, my VIP host, and avoid having
to go through t he website to fill out any of the forms or anything?

Many thanks,
Scott

_____________________________________ (7/08/07)


Dear Scott,

The $35 will be added to your account after you made the cash out,
please just send us an e-mail when you made the cash out and we will add
the money to your account.

The check will be in Canadian dollars since you are living in Canada,
unfortunately its not possible for you to get the check in USD. To get
paid in USD you will need a USD account and choose a different cash out
option.

You also need to go through the website to make the transaction.

Thank you for choosing PartyPoker.com and I wish you best of luck.

Best regards
David Bilén
VIP ? Host
davidb@partyaccount.com
Europe: 00-800-7789-7537
Canada: 1-866-848-7537
011-800-7789-7537


_____________________________________


David,

Let us be realistic here, the 1 USD = 1.0185 CAD exchange rate that partypoker is offering on my cash outs is a RIDICULOUS ripoff. You guys have made THOUSANDS of dollars in rake from my pockets, and now you wish to squeeze more with an exchange rate that is well below the market rate of 1 USD = 1.04592 CAD. This is INSULTING.
HERE is my first question: What is the US to Canadian exchange rate when I make a deposit??? is it t he same rate as you charge for cashing out, or are you making money from that too?




You mentioned "To get
paid in USD you will need a USD account and choose a different cash out
option."

Well then TELL ME HOW to get a USD account and tell me WHICH CASHOUT OPTION TO CHOOSE because I will gladly do it. For me to accept 1.0185 (RIPOFF) is unnaceptable.

"Thank you for choosing PartyPoker.com and I wish you best of luck.

Best regards
David Bilén
VIP ? Host"

I dont want LUCK, I want fairness and a PROMPT REPLY to this email. If I am a 'VIP' then please treat me like one.

It is bad enough that the old $5k prize of winning the monthly leaderboard is gone, many other websites have incentives to be at the top of their leaderboards, allow rakeback, have POINTS STORES for what you earn on playing on the site .. regardless of partys LACK of these benefits, I am still making money for your site. I would at least expect fairness when cashing out, but parhapds that is too much to ask?

Looking forward to your reply,

Scott


_____________________________________ (7/09/07)


Scott, I understand your concern; please allow 24-48hrs for my response because I'm trying to work something out here. Best regards David Bilén VIP – Host


_____________________________________


David,

Thank you SO MUCH for not just sending me a canned 'copied and pasted' response. Let me know what you find out.

Cheers,

Scott


_____________________________________ (7/10/07)



No problem, I'm actually trying to help.

In this case what is strange is that in PartyAccount.com, the CAD currency says 1.05 which seems to me to be pretty much market value. But in the currency converter at the same place it says like you say 1.0185. Im trying to find out what is going on here.

I have escalated this to people responsible and I will let you know as soon as I will get any answers. They told me yesterday 24-48hrs.



_____________________________________


David,

Sounds good. Let me know as soon as you hear back from them.

Cheers,

Scott


_____________________________________ (7/14/07)


Scott,

Thank you for your patience, Im still waiting for an answer and I will contact them again after the weekend. You are not the only player that think this issue is very frustrating and I aswell beleive that something has to be done. Will let you know.

David

[Lawrence Ng]

Open up a US$ Bank account at your bank. Use that account to receive withdrawals from Party. If you really don't like getting screwed by the exchange rates of the banks then goto a currency exchange store that offers a better rate when you withdraw US$ from your bank and then redeposit into your Cdn$ bank account.

It's a bit of work, but you can save a bit of money doing it this way.

Lawrence