EFT - Direct Deposit - Any Suggestions.
Hello everyone,
I was hoping some of you can suggest an online poker site that allows direct depositing and withdrawals from one's Chequing account. I use this feature for Party Poker and find it incredibly convenient, not to mention cheap. I want to play at other sites, but can't seem to find this same option when it comes to buying chips. My options are basically neteller [ which is too much of a hassle - and way too expensive ] or Fire Pay. I was told that I would be charged a fee using Firepay for both the transaction and the exchange from Canadian dollars to American. It seems I'm getting screwed either way. Anyways, any suggestions would be helpful.
All The Best,
Toronto.
I was hoping some of you can suggest an online poker site that allows direct depositing and withdrawals from one's Chequing account. I use this feature for Party Poker and find it incredibly convenient, not to mention cheap. I want to play at other sites, but can't seem to find this same option when it comes to buying chips. My options are basically neteller [ which is too much of a hassle - and way too expensive ] or Fire Pay. I was told that I would be charged a fee using Firepay for both the transaction and the exchange from Canadian dollars to American. It seems I'm getting screwed either way. Anyways, any suggestions would be helpful.
All The Best,
Toronto.
Comments
I don't understand. How expensive is free? I use Neteller extensively and have never paid any fees. The only 'fee' is your exchange to make your initial deposit and the exchange on a withdrawal back to your Canadian bank account.
I don't understand. How free is a 'fee' you must pay to deposit and withdrawal your own money? This concept is a little over my head.
Thanks anyway's,
Toronto.
You will always pay a (somewhat hidden) fee when exchanging Canadian money to US money (and vice versa) no matter what method you use. This is true whether you change the currency at a bank branch, use your credit card, use Neteller, make a direct bank to poker site transaction, etc. Currency exchange fees are normally in the ballpark of 2% of the exchanged amount.
If you use only bank account <-> Neteller EFT transactions, there are no fees beyond the usual currency exchange fee (which is an impossible fee to avoid1).
The primary advantage of using a US dollar denominated Neteller account is that there are no fees whatsoever (including no currecny exchange fees) for every online poker room <-> Neteller transaction you make.
ScottyZ
1That is, if you initally (eventually) want your online poker money converted from (into) Canadian currency.
First i recommend you set up a Neteller and do an EFT through Party to fund your bankroll and if you want to play other rooms use Neteller in and out of Party. When it comes to withdrawing back to Cdn$ you do that through Party EFT which yesterday was paying at a rate of 1.166 when the exchange rate was 1.152. So it appears Party gives you the true rate without the exhange costs. So that can be big savings when withrawing large amounts.