£ accounts for $ poker sites

[Ant040689]

I was wondering if you had, for example, an 888 poker account in £, if you would experience currency exchange charges every time you registered for a $ tourney, and if this happens anywhere online in other similar circumstances.

Checked on Hills now and it appears to be spot on in the currency exchange with my £ account there when registering for a euro tourn.

Wouldn't mind knowing so I could look to convert all accounts to £ if it is good, so the withdrawals can be without fees.

[SuuPRlim]

As far as I am aware, the sites use there own rates for different currency buyin's and then cash you back out to your cashier in the same rate you bought in for. So you buy into a $1k for (complete example numbers) £500 and then cash $10k they give you £5k.

I believe the rates in between are often very good. The issues and complications arise from withdrawing a euro/dollar cash balance into £ if there are issues. (in the case of PS for example you get the best imaginable rates doing that)

[Doobs]

888 are known for this, I have seen several complaints about them in my time.  From reading around, I think they charge something like 3% to convert in to dollars and 3% back.  This is not a charge made by your bank, but by the site.  I guess somebody may know the exact numbers.   

I think the way round it is to deposit and withdraw in dollars to a dollar account. If you deposit in dollars from a sterling account, you are going to get charged something like 3% by your bank anyway.  Having said that, it might be better on the way back.  For example, I pay 3% or so going into Winamax and stars.fr from a sterling account, but the money I get back is more or less on the xe.com rate.  I haven't got an 888 account so can't be sure of the exact mechanics on them, but think they charge you both ways.  My understanding of 888 is £100 becomes £97 worth of dollars then becomes £94 on the way back or something like that.

This is not the same as Stars.com/Full Tilt, who convert at rates very close to the xe.com rate.  So it doesn't matter if you deposit in dollars, pounds etc as you pay pretty much the same either way.  I know Betfair also convert both ways close to xe.com too.

 

[SuuPRlim]

easiest way to get round this is to dep and withdraw onto the sites in that currency using skrill/netteller if you can do that

[Ant040689]

Cheers for responses and Dave you alluded to it by saying that they often do well on exchanges in between deposit and withdrawal.

I am aware of the depositing and withdrawing charges with 888. I was just concerned that if you had a £ account with them, that if you registered for a $ tourn they would charge the usual 3% and then also charge 3% back to you in your winnings. Is this true?