Any way around the Neteller 1.9% exchange fee?

Quimby

I have my Neteller account in $US. There is no fee when I do an EFT to my bank account, but they do take a 1.9% currency exchange fee.

Last time I cashed out I went for the Neteller cheque option hoping to avoid the fee.
- $2US Neteller fee for the cheque
- $5CDN bank fee to cash the cheque, plus
- cheque cashed at the “branch rate” – not equal to the current posted rate and it is not shown on the bank website; I have to call the bank to get it

Is there any way to avoid this fee?

BBC Z

Word on the street is that partypoker cheques have CDN exchange rates significantly better than even banks.

AcidJoe

They do and even efting back to your bank account via party is also good last time I did it.

moose

Quimby wrote: »

Is there any way to avoid this fee?

Get a US$ bank account?

Flint Bones

Stay away from Netteller!!!!

Ask Dave Scharf..

Bobsi38127

lol itz a 2% fee ur talkin about here, if u want convenience u gotta pay. Do some shopping around on different poker sites, and read all the fees Neteller lists on their cashout methods.

Quimby

Thanks for the input. Party seems to be closer to the daily posted rate.

My cashout system is as follows: Make $3k -- cashout $2k. That way my bankroll continues to grow so that I can move up while still padding the wallet (read: keep the wife happy making additional mortgage payments)

I don't need convenience. I'd like to keep the $40 in my pocket rather than give it to Neteller or the bank.

moose

I like that. I've been cashing out $x every time I hit $y, but then my b/r stays static.

Still I never convert my money back into CDN$. I get a cheque mailed to me and I deposit it into my USD ING account. It collects 3.5% at ING and I use it for vacations/casino runs etc. No fees at ING.