A few days ago I posted in the 888 poker room forum here at pokerstrategy.com, about my withdrawal confusion relating to Australian players and VISA debit cards.
Now I'm here to update that post and it has gone with all other 888 poker related posts!
IT"S ALL GONE, GONE, GOOOOONNNNNNNNNEE......
So anyway,
I got my withdrawal through yesterday, it took about 6 days and I'm pleased to have my entire 888 poker BR out and into my bank account....BUT... yes there is a BUT,
The *** exchange rate was totally wrong.
I mean $1US = 98c Australian, and has been all week basically, even today, but the exchange rate they have given me is $1US = 94c Australian.
*'n 4c in the dollar below... what is this some sort of last minute RAKE.
We get totally scammed by things like this.
They have our money and give us back what they feel we will accept.
Any one else been ripped off like this by 888 or any other sites?.
Who should we steer clear of?.
I won't be depositing again with 888 in a real hurry no matter what offers they email to me.
They owe me 4%'ish of my BR as far as I'm concerned.
Vent vent vent.
Peace
Simon
Did Pokerstrategy.com really remove all threads just like that?
That is a real dick move, should have kept them for like 2 weeks so other members can help each other, because a lot of people are probably cashing out and running into all kinds of problems.
Hi guys,
I have moved this to Beginners Questions for lack of anywhere else to put it. 
Regards,
Mal.
I can't find any 888 stuff any where.
There not even on the Home page of Poker rooms?
It's like they don't even exist, or never have.
Man there must be some thing going down between these 2 former bed mates.
I know break ups can be ugly but this is like cutting up all your old happy snaps.
Why, did you think pokerstrategy was going advertise 888 for free ?? Of course they are going to delete everything. Pokerstrategy wants to cashhhhhhhhhhhhhhhhhhhh. 888 don't give the cashhhhhhhhhhhhhhhhhhhhhhhhh
Maybe you could ask pokerstrategy to work for free ???
After all they only care about us learning ........... so they won't mind the suggestion
I had the exact same problem. I cashed out 800 and was given a 1 USD = 0.86 AUD exchange rather than the actual exchange 1 USD = 1.12 AUD.
When I asked support they said they exchange the money over the period of five days during the "in process" stage and that the rate must have reached that low during that period. However the rate didn't even come close to 0.86 during that time - the lowest it dropped was to 1.09 AUD.
I believe the explanation is either
a) they steal a small amount from each transaction through their affiliate banking organisation Cassava Enterprises as a reveneue booster
or
b) they process transactions through expensive third-party currency exchange companies that charge high premiums
Either way, it is criminal.
the problem is you dont get the exchange rate, this is just the basic rate and every bank or organization will charge commission,
i live in uk and do some large transactions in euros, i take my euros to high street travel agent to exchange to pounds as i get a much better rate than any bank, i save myself hundreds of pounds per transaction,
the only thing i could suggest is if you could get paid in dollars and find a better exchange rate yourself ?
Originally posted by nefarious26
the problem is you dont get the exchange rate, this is just the basic rate and every bank or organization will charge commission,i live in uk and do some large transactions in euros, i take my euros to high street travel agent to exchange to pounds as i get a much better rate than any bank, i save myself hundreds of pounds per transaction,
the only thing i could suggest is if you could get paid in dollars and find a better exchange rate yourself ?
This.
You're *generally* always best to transfer to and from any poker site in the denomination you're playing in (eg have a USD account on the site, deposit and withdraw using USD) and then exchanging to your home currency using some alternative method.
Poker rooms (and motels, duty free shopping stores, etc) all do pretty much the same thing as it is a way of offering a service to their customers (ie the convenience of letting them pay in whatever currency they like) and making some additional margin on their transactions for little extra cost. It's all part of being in business, although I agree that poker rooms could (and should) do more to highlight the additional cost to their customers.