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Getting shafted by PS conversion rates

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gebbstet   Sweden. Jan 15 2017 00:12. Posts 390

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 11537

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


Endo   United States. Jan 15 2017 08:37. Posts 883

That's shady as fuck.

But then again, what else do you expect from PS nowadays


Spitfiree   Bulgaria. Jan 15 2017 09:28. Posts 7710

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


Smuft   Canada. Jan 15 2017 12:22. Posts 614

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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