888poker deposit problem

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miklcct

miklcct

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I am a player based in the UK and trying to make my first deposit in 888poker, which plays in USD. However, when I try to deposit $14, it attempts to charge me £11.11 on my card which I promptly rejected.

How can I make it charge me the correct amount?
 
It is about £10.59 but the system attempted to charge me £11.11.

The in App support was totally useless and after I reached out to the official Reddit he got it fixed immediately.
 
miklcct said:
It is about £10.59 but the system attempted to charge me £11.11.

The in app support was totally useless and after I reached out to the official Reddit he got it fixed immediately.
Click to expand...

£10.59 is the exact amount but they usually have a worse exchange rate. So they changed it for you?
 
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moots said:
£10.59 is the exact amount but they usually have a worse exchange rate. So they changed it for you?
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They changed the settlement currency of my account to USD so all my deposit / withdrawal will be in USD.
 
miklcct said:
They changed the settlement currency of my account to USD so all my deposit / withdrawal will be in USD.
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now ur bank will make the conversion and i guess there will be still some kind of forex fee by them. but it will be probably better than what 888 offers.
 
Sunz of Beaches said:
now ur bank will make the conversion and i guess there will be still some kind of forex fee by them. but it will be probably better than what 888 offers.
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My bank charges me 0 for currency conversion for card transactions beyond the mastercard network rate, and if I want I can now use another card which is linked to my USD account as well to avoid any currency exchange altogether.
 
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miklcct said:
They changed the settlement currency of my account to USD so all my deposit / withdrawal will be in USD.
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Pretty sure thats how it works in the UK, you just have to suck up the crap exchange rate. You can withdraw in $ but then your bank will charge you for converting anyway (not sure with depositing as only deposited once but no doubt bank fees higher then £1)
 
Station_Master said:
Pretty sure thats how it works in the UK, you just have to suck up the crap exchange rate. You can withdraw in $ but then your bank will charge you for converting anyway (not sure with depositing as only deposited once but no doubt bank fees higher then £1)
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888poker's policy is to withdraw into the payment method I used to deposit, i.e. my debit card. My debit card doesn't charge a bank fee for currency conversion.

In the future, I may deposit from a bank card which is linked to a multi-currency account so that I will never need to convert currency again, and use my winning in my regular USD spendings.
 
miklcct said:
888poker's policy is to withdraw into the payment method I used to deposit, i.e. my debit card. My debit card doesn't charge a bank fee for currency conversion.

In the future, I may deposit from a bank card which is linked to a multi-currency account so that I will never need to convert currency again, and use my winning in my regular USD spendings.
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In that case you can withdraw in dollars easily, my bank charges a £5 fee
 
Station_Master said:
In that case you can withdraw in dollars easily, my bank charges a £5 fee
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You should switch banks instead. I do not use a bank which charges a fee for foreign currency transactions.
 
miklcct said:
You should switch banks instead. I do not use a bank which charges a fee for foreign currency transactions.
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Yeah, not worth the bother just for this tho
 
miklcct said:
It is about £10.59 but the system attempted to charge me £11.11.
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So there was a £0,52 transaction fee on your very small deposit. Is this really worth posting and complaining about in a forum?
 
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fundiver199 said:
So there was a £0,52 transaction fee on your very small deposit. Is this really worth posting and complaining about in a forum?
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In percentage terms it is 5% on my transaction amount. It is a significant proportion for building a poker bankroll.

A difference between 5% rake and 10% rake is a difference between profit and loss.
 
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