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Getting shafted by PS conversion rates |
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gebbstet   Sweden. Jan 15 2017 00:12. Posts 391 | | |
I recently started played poker again and today I realised Im getting very different conversion rates when I make a withdrawal compared to a deposit on PS/FTP.
I have 350 dollars on my account and if I were to withdraw that now I would be getting 3040 SEK, however if I were to deposit 3040 SEK I would only be getting 332,65 dollar.
Has it always been like this? I dont recall it being this way back when it was just FTP.
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whamm!   Albania. Jan 15 2017 07:04. Posts 11625 | | |
yup. before i had to convert eu to usd to ph peso. maybe lost like 2k in conversion bs in a course of a year. it wasnt stars fault tho, some homeland security thing they had to circumvent i think |
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Endo   United States. Jan 15 2017 08:37. Posts 953 | | |
That's shady as fuck.
But then again, what else do you expect from PS nowadays |
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Spitfiree   Bulgaria. Jan 15 2017 09:28. Posts 9634 | | |
Did you check the moment you deposited?
SEK/USD ratio could've changed in between the period of deposit/withdraw.
Anyways PS is shit so i wouldn't be surprised if they just try to capitalize on such margins |
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Smuft   Canada. Jan 15 2017 12:22. Posts 633 | | |
this isnt just PS, most financial institutions rake a lot when doing currency conversion
when I use my canadian credit card for non canadian dollar transaction i lose about 4% compared to XE.com
when I withdraw to my korean bank account from PS, i lose about 2% (korean banks have higher manner than canadian it seems)
there are 2 main ways around this:
1) go to your bank and ask to open a USD bank account -> keep your stars cashier in USD and withdraw to your USD account -> find a local currency exchange place that give you better rates than PS (this will still eat 0.5-1.5% depending on how good your local exchange rates are)
2) bitcoin -> see my advice in baal's skrill & neteller thread, it applies to pretty much every country in the world |
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