Arbusers

Other gambling material => Rest Area => Topic started by: xajaker on May 24, 2018, 12:52:05 AM

Title: exchange of money
Post by: xajaker on May 24, 2018, 12:52:05 AM
Guys can you advise please.

This issue has been bothering me for a while since i dont want to go to jail, dont think i will like it there.

I started arbing with this Albania local bookie, the odds are good but i have one issue of betting in the albania local currency Lek since it is better and gives more profit. The issues is getting the albania lek into finland since i live there. If i am to use banks, western union or anyhting, even neteller,  i will lose a good percentage.

so i decided to contact some albanians living in Finland, my deal with them is that they give me the money they actually want to send over to Albania and i in turn transfer the money i have in albania to their account in Albania. This way, we both win and save cost in transfer charges.

my issues is, am i laundering money, is this illegal.

Advise please
Title: Re: exchange of money
Post by: Alfa1234 on May 24, 2018, 08:33:01 AM
You are not money laundering. 

Money laundering means exchanging illegal money (from drugs or any other illegal activity) and somehow through a process making that money "legal".  If the money you are giving these people has not been made in an illegal way (arbing is not illegal), you are not money laundering.
Title: Re: exchange of money
Post by: arbusers on May 24, 2018, 08:44:38 AM
This is a Hawala system 100%.
Before going to discussion on what can be done and what can't be done, I m asking you why can't you use Neteller or any other mainstream way to get paid?
I understand that you will have to pay an exchange fee of...1.9-2.9 or 3.9%. Is that right?
With good money management and carefully selected transactions, you can keep the expenses lower than what figures show and also minimise the exchange risk.
Title: Re: exchange of money
Post by: geetz on May 24, 2018, 08:58:24 AM
you can use digital banks which offer very good rates for currency exchange like: revolut, paysera etc. find one which can offer you the best deal
then you can transfer converted euros to e-wallets: nt/skrill
this will save you a lot of money over longterm
Title: Re: exchange of money
Post by: Alfa1234 on May 24, 2018, 09:00:11 AM
This is a Hawala system 100%.

Yes, but that is not illegal in Finland (and I don't it's illegal anywhere in the EU).
Title: Re: exchange of money
Post by: arbusers on May 24, 2018, 09:04:35 AM
This is a Hawala system 100%.

Yes, but that is not illegal in Finland (and I don't it's illegal anywhere in the EU).

I didn't say it is illegal, but we need to check the Albanian side also about legality and not only the Finish.
I m trying to take as more info as I can from xajaker, so we might end up in a way where we will not have any questions about legality.
Title: Re: exchange of money
Post by: xajaker on May 24, 2018, 09:05:21 AM
Thanks Guys, now i feel a little saver.

i could use skrill or neteller but this money management and accounting thing, are heavier than i thought and either way, i am going to still lose some percentage but with this method, i gain instead and i think it is easier for me. 

But i will surely consider all options also now.
Title: Re: exchange of money
Post by: xajaker on May 24, 2018, 09:06:50 AM
This is a Hawala system 100%.

Yes, but that is not illegal in Finland (and I don't it's illegal anywhere in the EU).

I didn't say it is illegal, but we need to check the Albanian side also about legality and not only the Finish.
I m trying to take as more info as I can from xajaker, so we might end up in a way where we will not have any questions about legality.


any question, i am willing to answer, the Albanian side, i really dont think they mind and also i am not physically involved there and so i am not much afraid. My most worries is in the Finland side.
Title: Re: exchange of money
Post by: arbusers on May 24, 2018, 09:08:04 AM
you can use digital banks which offer very good rates for currency exchange like: revolut, paysera etc. find one which can offer you the best deal
then you can transfer converted euros to e-wallets: nt/skrill
this will save you a lot of money over longterm

1 question and a point here:
How many digital banks support Albanian Lek?
Also, I can clearly say that most if not all of them will reject gambling money. It is written in their T&Cs. I would avoid masquerading any transaction with them.
Title: Re: exchange of money
Post by: Alfa1234 on May 24, 2018, 09:20:10 AM
Transferwise has the Albanian LEK (try their borderless account) and is currently, as far as I have been able to dig up, not taking part in CRS.
Title: Re: exchange of money
Post by: xajaker on May 24, 2018, 09:32:55 AM
you can use digital banks which offer very good rates for currency exchange like: revolut, paysera etc. find one which can offer you the best deal
then you can transfer converted euros to e-wallets: nt/skrill
this will save you a lot of money over longterm

1 question and a point here:
How many digital banks support Albanian Lek?
Also, I can clearly say that most if not all of them will reject gambling money. It is written in their T&Cs. I would avoid masquerading any transaction with them.


I didnt check up on the digital banks but i did on other transfer agents like Azimo, western union , money gram and the charges are deadly, also i am considering how far my money is available to me for use, with my method it is almost instant but i wonder if any method will beat it in speed.

Transferwise seemed the best option but i called them couple of time and they said they dont support Albania Lek. I WILL CALL AGAIN NW
Title: Re: exchange of money
Post by: Alfa1234 on May 24, 2018, 09:38:28 AM
you can use digital banks which offer very good rates for currency exchange like: revolut, paysera etc. find one which can offer you the best deal
then you can transfer converted euros to e-wallets: nt/skrill
this will save you a lot of money over longterm

1 question and a point here:
How many digital banks support Albanian Lek?
Also, I can clearly say that most if not all of them will reject gambling money. It is written in their T&Cs. I would avoid masquerading any transaction with them.


I didnt check up on the digital banks but i did on other transfer agents like Azimo, western union , money gram and the charges are deadly, also i am considering how far my money is available to me for use, with my method it is almost instant but i wonder if any method will beat it in speed.

Transferwise seemed the best option but i called them couple of time and they said they dont support Albania Lek. I WILL CALL AGAIN NW

They have all the rates etc up on their site but after checking it more thoroughly I think you can only send LEK to them (to get EUR) and not the other way around...sorry for not checking better before.
Title: Re: exchange of money
Post by: xajaker on May 24, 2018, 10:10:00 AM
you can use digital banks which offer very good rates for currency exchange like: revolut, paysera etc. find one which can offer you the best deal
then you can transfer converted euros to e-wallets: nt/skrill
this will save you a lot of money over longterm

1 question and a point here:
How many digital banks support Albanian Lek?
Also, I can clearly say that most if not all of them will reject gambling money. It is written in their T&Cs. I would avoid masquerading any transaction with them.


I didnt check up on the digital banks but i did on other transfer agents like Azimo, western union , money gram and the charges are deadly, also i am considering how far my money is available to me for use, with my method it is almost instant but i wonder if any method will beat it in speed.

Transferwise seemed the best option but i called them couple of time and they said they dont support Albania Lek. I WILL CALL AGAIN NW

They have all the rates etc up on their site but after checking it more thoroughly I think you can only send LEK to them (to get EUR) and not the other way around...sorry for not checking better before.


Yes that is true but thanks a lot guys, since i am not breaking any laws, i think i continue with the HAWALA system.

Woo, thank goodness, not going to jail soon
Title: Re: exchange of money
Post by: arbusers on May 24, 2018, 11:56:42 AM
You have a disadvantage here.
All Hawala systems require trust from all enabled members. The first Hawala systems were among members of a broaden family.
Do you have that trust?
Title: Re: exchange of money
Post by: fnatic91 on May 24, 2018, 01:16:34 PM
A direct charter flight HEL-TIA just started to run , so you can fly to Albania to collect your LEK and meanwhile enjoy some beach days there  :) :P

P:S how did you sign up ? These bookies accept only locals , apart of Bastarena.
Title: Re: exchange of money
Post by: xajaker on May 24, 2018, 04:07:58 PM
You have a disadvantage here.
All Hawala systems require trust from all enabled members. The first Hawala systems were among members of a broaden family.
Do you have that trust?


i dont need alot of people, i just connect with two good transactors, they are Albanians nd have the connections, i just call them or they call me and we exchange. so i dont need to stand on the street and there is not so much trust involved since we sit and they give me the money cash and i transfer theirs instantly.

no need to trust
Title: Re: exchange of money
Post by: xajaker on May 24, 2018, 04:10:16 PM
A direct charter flight HEL-TIA just started to run , so you can fly to Albania to collect your LEK and meanwhile enjoy some beach days there  :) :P

P:S how did you sign up ? These bookies accept only locals , apart of Bastarena.

hahhahaha, thanks but it is not just one time, it is a continuous thing.
Also you can sign up in this eurolotto, and lottomania but to be on the save side, try to connect with a trust worthy albania friend or guy because this guys sorry to say, will just run with your money if they understand you are not close by. So you must involve a local.
Title: Re: exchange of money
Post by: arbusers on May 24, 2018, 04:34:39 PM
A direct charter flight HEL-TIA just started to run , so you can fly to Albania to collect your LEK and meanwhile enjoy some beach days there  :) :P

There is a 10.000 euros threshold that one can carry with him with out declaring it within the European Union.
Title: Re: exchange of money
Post by: arbusers on May 24, 2018, 04:39:57 PM
To sum up,
I m not convinced about the legality of the process as we are having 2 different countries, one within EU, the second being outside.
An other matter that you can only answer is: Is betting profits taxable in Finland?

I would go for the e-wallets money transfer for peace of mind, even if I have to pay an expensive fee.

Side note (bonus).
Transferwise offers an excellent service far superior as a package than their competitors right now. But, gambling money will not allowed to circulate in their system.