Casino Talks

Posted by: Alphaunit1 at June 17, 2006, 6:56 am

Topic: Neteller euro vs dollar Forum: Bonus Whores

When you make a deposit at Littlewoods (for instance) from your USD Neteller account, Neteller adds in a 1.9% "spread" on the current exchange rate. This is, BTW, VERY normal for currency exchange transactions in the finance world. Check one of your credit card T&Cs, and you will see something similar. It's a profit center/protection against the vagaries of currency fluctuation for the banks.

That said, we'll do an example for right now:

Depositing £200 into Littlewoods.
Current exchange rate at Oanda shows £1=$1.85160.
Neteller bumps exchange rate to £1=$1.88678 to account for their 1.9% spread.
Neteller withdraws $377.36 from your account and transfer £200 into your Littlewoods account. No mention of the fee, it's just built into the exchange rate they use. (A straight "no fee" exchange would have had $370.32 coming out of your Neteller account.)

You paid $7.04 in currency exchange fees for that transaction.

You can calculate what will come out of your USD account fairly accurately by simply multipling £amount * current exchange rate * 1.019.

Casino Classic
Get $500 free on the house!

Categories:

poker hands casino poker craps internet casino poker game slots roulette poker strategy betting online slots poker tips poker tournament baccarat poker bonus codes poker rooms best casino casinos texas holdem tournament poker room free slots

Links:

Movie Talks
Forum Extractor

Casino Classic.
Get $500 free on the house!