Hi all,
Cashed out 4500$ from FT via bank transfer recently and the fee was about 220$ which got me quite pissed (is this standard fee they charge? and is there any better way of cashing out - with lower fee?)
Thanks
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whenever i have made a cash out i do it by VISA and i dont get charged as far as i know! but my cashout is no way near $4500 though.
Same as shutty, always transfered in & out via Visa card.. no fee as far as I can tell, but may depend on your issuing company/bank.
Best regards,
Bart
Hi Pimprlas,
I recently made a $100 cash out from FT via "check" withdrawal and I did receive a $100 check to my name in less than a month. However when i brought the check to my bank here in the Philippines, my bank said it will charge me $15 and I have to wait 45 days before they clear my check. The Canadian bank that sent me the check does not have any branch here.
I also made an $80 cash out from PartyPoker via bank-to-bank transfer to my dollar account. I was also charged $15!
Yours is better as you were only charged around 5% of your total withdrawal.
I also made a $70 cash out from PartyPoker to my Entropay account and got charged $4, same as yours, 5%
I guess as long as I keep my withdrawals in the form of electronic funds, I will be able to keep the charges to minimal. But I soon as I try to convert it to actual cash/paper bills/bank deposits, charges will soar up.
Same as you, I am still looking for a better way to cash out. But I will gladly pay $220 in fee as long as I can cash out a big chunk of $$$ bankroll$$$ just like you do!
Congratz!!!
Cash out fees are retarded.
You need to play on a website that is close to your home or else they will usually charge you like mad.
For example, when I played cake poker (I am in Canada) I ended up with like 60% of my withdrawal being a fee. It was super retarded. It happens when you try to use website not located close to you. (Mine was EcoCard)
Well on stars i never payed any fees when i cashed out either directly to my bank account or to moneybookes. It also states that there is no fee to be charged by pokerstars when your making a cash out.
FT will deduct you MGR (which means less rakeback) when you cashout. None for PokerStars, because they don't have rakeback.
The fees you guys are talking about isn't being charged by the poker site, but the payment method you used. Cheques are notorious for having high fees if they come from a foreign country. Avoid it if you can. The banks will also find ways to rip you off on the exchange rate.
Bank transfers are usually pretty good but depending on your bank, they could give you really bad exchange rates for it.
Neteller is also a good option but there are also fees for arm cash withdrawals with your net+ card. You can find the fees on their website.
You really can't avoid the fees unless you have a USD account in the US, but this also sucks now because many US banks are refusing to process poker cashouts.