I don't deal with much multi currency stuff online much at all but would I be right in thinking that you'd probably get a better rate by opening a moneybookers account in Euros and then depositing to another poker site before withdrawing than you would by withdrawing from moneybookers and taking their fees?
Alternatively, get you to send any returns to someone that has a moneybookers VIP account? Do they have lower charges or are you on a VIP account already Paul?
My Moneybookers account is in euros already. The process of withdrawal will be moving the money from my ongame poker account (in dollars) to my ongame base account (in euros) and we will get spot rate on this. Then withdraw to Moneybookers in Euros, where we wont lose anything.
Potential losses come from moving the funds off moneybookers. To send from my account to another moneybookers account it costs 1% up to a max of 0.5 euros per transaction. As Im willing to chop this with anyone who would prefer a MB transfer it will only cost you 25 euro cents and me around 3.50 euros maximum which Im fine with. Alternatively I can send all funds that people want transferred to MB accounts to someone trustworthy with a MB VIP account (itll still cost 0.5 euros total) and they can transfer it out to everyone with no fee. I think thats how it works but Id imagine MB have something in place to stop this sort of thing?
If you take a transfer to a euros MB account, the only ways you can get the money off without losses are, that I know of, if you have a euros bank account to withdraw to or if you want to deposit it to another site that takes euros to play on.
On my stars account I cant deposit or withdraw in euros from moneybookers, otherwise this would be a good alternative. When I emailed support asking why, they couldnt offer an explanation other than "you just cant"
Withdrawing from moneybookers to my bank only incurs a 1.80 euro fee which is a bowl and Im sure, split between everyone, nobody will actually miss it. The big loss is that when my bank accepts a foreign currency transfer, it converts it at its own rate and not at spot therefore we lose some in their conversion. Im pretty sure all UK banks convert at a similar rate so there is no way around this if you want paid in £ unfortunately
So the problem is with the conversion rate of the bank and not with moneybookers.
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