Advice wanted for Aussies first cashout

OziBattler · #1 07-31-2006, 05:57 PM

After much grinding im finally in a position to withdraw some of my poker BR.

I'd like some advice on what the best way to withdraw is so that I dont get pillaged by fees and changes.

My situation is
- I want to withdraw about $500US, preferably in Aussie Dollars
- Since Im in Australia I believe neteller charges would be hefty (I dont have a neteller card)
- Aussie banks charge like a wounded bull for currency conversions on cheques
- Ive got accounts at most of the major sites
- Stars could write me a cheque in AU but unfortunately they told me all withdraws first go back via deposit method and I can only get a cheque for winnings (I cant win $500 in a short space of time at the limit I play so it looks like stars is out)
- I dont really care if it takes a few weeks for a cheque to arrive..as long as it does arrive [img]/images/graemlins/smile.gif[/img]

What Im thinking is that getting a cheque from Party or a Party Bank transfer is the way to go. I'd probably wait for the next reload, deposit via neteller, clear the bonus and then request a cheque or do a bank tx. Only thing is when I look in Party Cashier it doenst let me select $AU as currency.

any other advice? Im assuming that if I want to deposit via neteller but withdraw via cheque/transfer that some coverplay would be needed....true?

thanks

Aussie

luke4130 · #2 07-31-2006, 07:00 PM

I always used to deposit at party via neteller and then cash out to my debit card immediately, did it quite a few times with no repercussions. If you can do that it might be your best bet.

whittiphil · #3 07-31-2006, 08:44 PM

I live in NZ and do a neteller wire transfer and eat the $12.50 transaction fee. Sucks, but I just withdraw it in big chunks.

Scamp · #4 07-31-2006, 09:08 PM

If you're going through Party, have a look at moneybookers.

You can transfer from your moneybookers account directly to your Australian bank account. I think the charge (on the moneybookers side) works out to be around AUD$3. It's supposed to work like an international bank wire so your bank may also have a charge. However, when I used it, the transfer came through an Australian moneybookers account and so it was just like a direct credit and my bank didn't charge me anything.

It's a lot cheaper and quicker than worrying about a foreign currency cheque.

pokerman37 · #5 08-01-2006, 12:23 AM

Party poker now offer a cashout option for australian residents via bpay straight into your bank account, you just need ur bsb number and account number, and there is no fee whatsoever. I use this method to cash out and it works like a charm, money appears in ur bank account in about 2days.

OziBattler · #6 08-01-2006, 01:54 AM

[ QUOTE ]
Party poker now offer a cashout option for australian residents via bpay straight into your bank account, you just need ur bsb number and account number, and there is no fee whatsoever. I use this method to cash out and it works like a charm, money appears in ur bank account in about 2days.

[/ QUOTE ]

cool, thanks and so just to clarify when you do this
1) it doesnt matter whether i deposited via neteller
2) cos its a bank transfer the currency selected on transfer really doesnt matter (ie just leave as $US) since i wont get slugged a fee by my aussie bank (CBA).

mahogany17 · #7 08-01-2006, 02:04 AM

Every time I've wired money to my bank account (National Bank) they've charged a $6aus handling charge. I'd be surprised if you don't get similarly burdened, Cheers, Mahogany17

Scamp · #8 08-01-2006, 02:21 AM

[ QUOTE ]
Party poker now offer a cashout option for australian residents via bpay.

[/ QUOTE ]

Holy crap! That's awesome and will save a lot of mucking around. I'm not sure how I missed this. Probably too keen to get my money back to Neteller for another bonus.

You'd think they might mention this to Australian players in an email or a pop-up or something. Or did they and I just ignored it?

OziBattler · #9 08-01-2006, 03:09 AM

[ QUOTE ]
You'd think they might mention this to Australian players in an email or a pop-up or something. Or did they and I just ignored it?

[/ QUOTE ]
you give party too much credit. We all know how great their CS is [img]/images/graemlins/smile.gif[/img]

seriously, this is good even if it means paying a $6 fee to the bank

passthesuga · #10 08-01-2006, 03:37 AM

I do bank wires direct to my CBA account. As you would expect, the crooks at CBA charge more than any other bank ($10 AUD) for this service. As long as you cash out in large chunks it's O.K. Funds arrive usually in 2 working days once you have developed a history of ttransactions with Party, initially it may take a little longer.