Neteller account question

ryanhealy

Hey,
Im new to the whole Neteller thing. Only had it for about 2 months.

Currently my account is in CAD and I'm noticing that every time I make a transfer to or from a site, I'm losing a little bit of money, I assume from exchange fees. However, when I withdraw to my bank account there is no fee as the money is already in CAD.

Should I have my account in US funds, so that I pay the fee when I withdraw, and not everytime I make a transfer to/from poker sites?

Would this save money?

Thanks

doctorbs

I started out with a CAD account, but considering all the poker sites out there are in US, it's so much easier to be able to deal in all US amounts. Say you want to put $25 US into a poker site, you have to work out the exchange before you transfer from your bank account to neteller, and then give a bit of extra just in case, otherwise you might end up accidentallly depositting $24.87 or something weird like that, and then have to make another deposit (since alot of poker sites have a $25 US minimum deposit).

I closed my CAD account and opened a US one within a week... it's so much easier using the US one.

zero

I'd say you generally transfer between pokersites more often than to and from your bank. US funds is the way to go. Talk to support and they will close your account for you to open a new one.

-ANTE RIVER-

Go with the $US dollar account...but as mentioned, you need to close the CDN first,
they won't let anyone have 2 accounts as I found out when doing the same...

doctorbs

-ANTE RIVER- wrote:

they won't let anyone have 2 accounts as I found out when doing the same...

Does anyone know if it's possible to have both a CAD & US account if you have 2 bank accounts?

When I tried to setup both they said I couldn't because my bank account can only be attached to 1 Neteller account, but I didn't find out if it would be ok to hook up both a CAD & US account to 2 different bank accounts... anyone know if this is possible? I don't even plan on doing this, as the US account is working out great for me, I'm just curious if it's possible.

Wolffhound

Neteller does not allow you to have 2 accounts.

I went through the pain in the ass of shutting one down while opening the other etc etc...
once done and in US money...its perfect.

Soup

Something I found extremely wierd and kinda pissed me off a bit, is I set up a US funds account through my bank (CIBC) howver neteller wont let me use that account, they say it MUST be in canadian funds!

AcidJoe

Moose mentioned something about that in another thread. It would seem strange that a US dollar account couldn't be linked but maybe there's something in the way cheques are cleared that might affect transfers etc.

funkymunky

Soup wrote:

Something I found extremely wierd and kinda pissed me off a bit, is I set up a US funds account through my bank (CIBC) howver neteller wont let me use that account, they say it MUST be in canadian funds!

Weird. I have CIBC, and I had no problems setting up in US funds.

moose

No what Soup means is that you can't link a US$ neteller account to a cdn based US$ bank account. Your brick and mortar account must be in cdn$. I guess they want to be able to rake you on the exchange.

On a related note my wife has her own Neteller account linked to a second bank account. A transfer of $50 from my Neteller account to hers to get things started cost me $1 and was instantaneous.