| Posted by: CasinoNow at January 30, 2002, 4:48 pm | | Topic: a canadian that looses on the conversion rate.. Forum: Winner Online |
Has anyone checked out the multi-currency feature of cryptologic's new Global Edition software? I'm not sure what the new currency additions are off hand, but I recall it being one of the items they were really pushing during the release of this upgrade. Perhaps there's a canadian funds option there.
Jerry Garner
GamingBroadcast.com
jerry@gamingbroadcast.com
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| Posted by: Scarce at January 29, 2002, 10:00 pm | | Topic: a canadian that looses on the conversion rate.. Forum: Winner Online |
Not too many allow wagers in any funds other than American. A few in South Africa use the Rand and some do the English pound (William Hill, for example). A few in Chinese yaun(Hong Kong/Macau/Singapore). The ones I'm aware of are Ladbrokes and Playboy which allow wagers in many different currencies, including Canadian.
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| Posted by: CasinoNow at January 28, 2002, 1:02 pm | | Topic: a canadian that looses on the conversion rate.. Forum: Winner Online |
If you already know which bank you wish to use, you can simply call or write to any branch for the forms to open an account. They may request a notorized copy of your id along with the forms.
A couple of years ago, I was planning on doing some work in Maryland and my bank did not have a branch there, so I called around and eventually settled on Chevy Chase Bank, based in Chevy Chase, MD, but with branches all of MD, VA and DC.
Anyway, I just called a local branch (that turned out to be at a mall) and opened my account by phone. They sent me the forms to sign by mail, which I returned with a copy of my id and a check for initial deposit. You can send in a check (which may be a little slow) or wire funds into your account. That's not ery many options, but it beats having to drive there for a personal deposit, and it has an added bonus of curbing spontaneous play.
Anyway, I know it's a lot of hassle, especially over such a low amount, but at least it's an option.
Jerry... | | Read Entire Entry |
| Posted by: Playtherush at January 28, 2002, 1:09 am | | Topic: a canadian that looses on the conversion rate.. Forum: Winner Online |
Jerry, Canadians can indeed get US$ bank accounts and CCs just as Scarce suggested. The problem with Paypal is that they will not allow Canadians to link US$ accounts from Can banks. Therefore, deposits can only be made by CCs(no EFT) and when withdrawing from Paypal, they convert your funds to loonies before depositing them in your linked Cdn$ account.
So how do I open an account with a US bank and how will I get the money in/out of it? All suggestions are welcome.
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| Posted by: CasinoNow at January 27, 2002, 11:24 pm | | Topic: a canadian that looses on the conversion rate.. Forum: Winner Online |
This is a problem that pops up from time to time on the boards. Here's an Older Post on the subject, for the old timers around here. haha.
The problem is that you are being charged a fee for converting the currency, apparently only on one half of the transaction. The simplest solution is to simple get a bank account that is based on US dollars. If you can not do that in Canada, you can open an account at most any US bank ia mail/fax, most of which will also give you a Visa debit card linked to the account.
It's generally a good idea to keep a separate account for playing online anyway. After all, if you account number were ever compromised for some reason, it's a lot less of a headache to deal with having the bank reclaim your gambling bankroll rather than a large chunk of your savings.
Jerry Garner
GamingBroadcast.com
jerry@gamingbroadcast.com
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| Posted by: Playtherush at January 27, 2002, 10:48 pm | | Topic: a canadian that looses on the conversion rate.. Forum: Winner Online |
Scarce, how do your suggestions help the original poster?:-)
I agree those are necessities but they won't do anything to diminish Paypal withdrawal problems.
Has anyone outside the US opened a bank account with a US bank?
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| Posted by: vickinz at January 23, 2002, 1:46 pm | | Topic: a canadian that looses on the conversion rate.. Forum: Winner Online |
Before ecash facilities would allow New Zealanders to use them, it would cost $20 - $50NZ (about $10 - $25US) just for $100US to be debited and then credited back, because of the buy/sell rate plus currency fluctuations at that time. It's just an added cost of online gambling to be factored in if one doesn't live in the US.
Recently it's been so infuriating because I keep getting Canadian Bank checks, which I tell casinos not to send me right at the beginning, but they still do, which then are returned and another check issued. With the $NZ rising a little again against the $US, I've lost $hundreds because of the delay!
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| Posted by: Scarce at January 23, 2002, 12:33 pm | | Topic: a canadian that looses on the conversion rate.. Forum: Winner Online |
Conversion is a problem for non-US players. For Canadians probably the best option is to open a US account at a Canadian bank and get a US isa card. The costs are relatively negligible if you gamble enough online.
And these costs are not to be scoffed at. A $1000 deposit may cost a player $30-$45, which does take a bit off your EV. Do this enough times though and it really adds up fast.
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| Posted by: gambler45 at January 22, 2002, 6:56 pm | | Topic: a canadian that looses on the conversion rate.. Forum: Winner Online |
Hi,
I was just wondering if anyone has had problems playing from Canada? Do you find that when your deposit is returned to your Pay Pal Account that you always get a lower exchange rate? It's not that big, but on a $25 transaction I loose about $.50. Anyone got any suggestions?
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