question about despositing

Facecard99

can someone tell me ... since i live in Toronto
what is a good way of depositing fund to my poker site
i'm plannin to start at PS
i don't have cc
i only have a savings account with TD bank

anyone got a suggestion on how i can do it?

Zithal

You should be able to use NeTeller as a go-between, (between your bank and pokerstars)


I've been using Neteller and, as long as you don't get sucked into the trap of paying a 10% penalty to despoit money instantly (it's free if you're willing to wait 4-5 days), then it works very well.

Facecard99

o yea.... one more question is ... what is the exchange rate from CDN to US ?? is there a set rate for it?

ScottyZ

Neteller can indeed be linked to a Canadian bank account, but your bank account must be able to accept EFT's (Electronic Funds Transfers). I'm not sure if savings accounts can do this.

ScottyZ

ScottyZ

Facecard99 wrote:

o yea.... one more question is ... what is the exchange rate from CDN to US ?? is there a set rate for it?

The CDN/US exchange rate fluctuates. Most banks (and similar) update their currency exchange rates a couple of times each day.

The CDN/US nominal (which means before currency exchange transaction fees) exchange rate right now is around $1.30. (Or if you prefer, the US/CDN rate is about $0.765.) You can find some currency exhange information at

http://www.bankofcanada.ca/

If you make a withdrawl (or deposit) of US funds from (to) a Neteller account to a Canadian bank account, you will be shown the estimated exchange rate for the transaction, and the estimated amount in Canadian funds. It is only an estimate because the exchange rate may change between the time you request the transaction, and it is processed by Neteller.

Note that Neteller (or any bank, credit card, currency exchange kiosk, etc) will charge you a fee of about 1 or 2 percentage points (sometimes more) when you make any currency exchange transactions. Another reason I like Neteller is that their currency exchange fees are very reasonable.

ScottyZ

vinsanity

You cannot use a savings account with Neteller, only a chequing account. When signing up on Neteller, you can choose which currency to use, CDN or USD. If you choose CDN, the currency exchange rate will be Neteller's rate. If USD is used, then the rate will be your home bank's rate. On a final note, you can only use a Canadian $ account at your home bank, not a US dollar account unfortunately. Hope that helped.

Tilter

I think you can try using PREPAID ATM cards.

Search recpoker.com for into on it (saw somethign Thursday I think). I think you can buy them from Wal-Mart!

DJP

With no CC or chequing account, I'd probably go the Western Union route if I was in that situation. Pretty sure Stars uses them too. Most larger places do.

Iron

I'm reviving this old thread in the hopes that someone can provide some insight.

I just registered for a neteller account. I'm looking to open an account on pokerstars. Is it advantageous to fund the account with neteller, or should I just use my credit card directly (assuming it will go through). If I fund the account with neteller, would that make cashing out go more smoothly?

Thanks for any input.

Hork42

Iron wrote:

I'm reviving this old thread in the hopes that someone can provide some insight.

I just registered for a neteller account. I'm looking to open an account on pokerstars. Is it advantageous to fund the account with neteller, or should I just use my credit card directly (assuming it will go through). If I fund the account with neteller, would that make cashing out go more smoothly?

Thanks for any input.

I typically receive cashouts from Pokerstars to my Neteller account the next day. Note: that if you want to withdraw from Neteller to your bank account, this can take 4-5 days. I believe they have an option you can pay for to expedite this, but I don't mind the wait. But usually from most sites to Neteller is very quick...

If you fund your poker account via credit card, the site will only "refund" the card on a cashout up to the initial deposit amount. Anything above that would be sent to you via cheque (very slowly.) If you have a Neteller account linked to the poker site, they will transact the additional amount to Neteller.

hork.

garro

Cashing out via neteller is much quicker than any method I have previously used. I Usually get the money within 2-4 days time. Compared with 1-2 weeks via cheque cash out.

Iron

Thanks for the info, guys.