January 16, 2017, 09:48:41 PM
News: If it is not in arbusers, it doesn't exist.

was charged a ridiculous amount for conversion from usd to EUR

Pages: [1] 2
« previous next »
Author Topic: was charged a ridiculous amount for conversion from usd to EUR  (Read 1019 times)
AceJack
Has some experience
**

Karma: -12
Posts: 146



View Profile
« on: June 26, 2016, 10:08:25 AM »

So I just transferred 300 EUR to a site and neteller charged me 20 USD for this transaction,

how do you guys avoid fees like this ? feel pretty mad atm
Logged

Bubbles
Getting better
***

Karma: 6
Posts: 214


View Profile
« Reply #1 on: June 26, 2016, 11:24:05 AM »

Try to plan ahead and stick to one currency. If you need to convert currency in advance use services like Oanda, never ewallets, bookies or banks .
Logged

AceJack
Has some experience
**

Karma: -12
Posts: 146



View Profile
« Reply #2 on: June 26, 2016, 11:35:46 AM »

Try to plan ahead and stick to one currency. If you need to convert currency in advance use services like Oanda, never ewallets, bookies or banks .

most of my books are in usd however at some of them  I was forced to select eur., how does this service like Oanda work ?
« Last Edit: June 26, 2016, 11:41:35 AM by AceJack » Logged

Bubbles
Getting better
***

Karma: 6
Posts: 214


View Profile
« Reply #3 on: June 26, 2016, 12:47:29 PM »

It’s just a currency converting service (also a trading platform), not the only one on the market, with no commission and reasonable spread. It’s not worth describing here how it works as it’s not a rocket science, just go to their side and read around..
Logged

Thordin
Pro
*****

Karma: 23
Posts: 801


View Profile
« Reply #4 on: June 26, 2016, 01:00:13 PM »

It’s just a currency converting service (also a trading platform), not the only one on the market, with no commission and reasonable spread. It’s not worth describing here how it works as it’s not a rocket science, just go to their side and read around..

can you buy bitcoins from them?
Logged

Alfa1234
Probably a Pro
****

Karma: -4
Posts: 321


View Profile
« Reply #5 on: June 26, 2016, 01:16:23 PM »

It’s just a currency converting service (also a trading platform), not the only one on the market, with no commission and reasonable spread. It’s not worth describing here how it works as it’s not a rocket science, just go to their side and read around..

can you buy bitcoins from them?

Yes,but you cannot withdraw them to your wallet as they do not support it.

https://www.oanda.com/currency/converter/
« Last Edit: June 26, 2016, 01:18:13 PM by Alfa1234 » Logged

AceJack
Has some experience
**

Karma: -12
Posts: 146



View Profile
« Reply #6 on: June 26, 2016, 03:32:50 PM »

This was a bit genius :)  if I understand this right  I need two wallets to use this?  One in euro and  one in usd and use this site as a middleman? 
Logged

Bubbles
Getting better
***

Karma: 6
Posts: 214


View Profile
« Reply #7 on: June 26, 2016, 05:22:21 PM »

If you use more than one currency you need to consider in advance what will be your currency converting needs and build a structure of ewallets, bank accounts, whatever that will suit it. You can use two ewallets or two bank’s subaccounts depending on how you organised your operation. Nobody knows it but you so it’s hard to advise. Oanda as such is nothing more than a currency exchange point like the one you see at every intl airport. The only difference is that because of the scale it offers spread as if you were buying/selling directly from forex. It makes a huge difference.
Logged

Skaggerak
Probably a Pro
****

Karma: -3
Posts: 387


View Profile
« Reply #8 on: June 26, 2016, 06:04:38 PM »

You can only have one e-wallet per company in your name so I'm sure this greatly complicates things.
Logged

Bubbles
Getting better
***

Karma: 6
Posts: 214


View Profile
« Reply #9 on: June 26, 2016, 06:55:15 PM »

You don’t need to register two ewallets with any bookie (is it the case that you’re only allowed one now?). Say you have a vip account like most ppl here have. It means you can have subaccounts in different currencies still with the same wallet. If your main currency is EUR you keep your main account in EUR. If you want to deposit to bookies that don’t accept EUR and you want to deposit say in USD you first do currency exchange: your EUR ewallet account – Oanda – your USD ewallet (sub)account and only than, having saved big chunk of 6% that Ace lost on his conversion, make a transfer to those bookies in USD. So you don’t need two ewallets but only one registered with those USD bookies. It used to make sense in the past. I haven’t done it recently as  now I generally try to use only one currency to avoid any hassle at all. But if ewallets didn’t change their rules dramatically I can’t see why it shouldn’t still work (of course, you can do exactly the same operation with bank accounts instead of ewallets). 
Logged

AceJack
Has some experience
**

Karma: -12
Posts: 146



View Profile
« Reply #10 on: June 26, 2016, 08:55:04 PM »

Thanks a lot guys,  this tips was great I'm ready to save a fortune with this :)

  I'm only silver vip at neteller but if they don't give me a sub account I'll create a new skrill account since I'm not using it anyway..
Logged

RoosterDonky
Has some experience
**

Karma: -6
Posts: 184



View Profile
« Reply #11 on: June 27, 2016, 06:06:28 AM »

Let me know if I can help AJ i got a guy that will get ya a % back of deposits.
« Last Edit: June 27, 2016, 07:30:53 AM by RoosterDonky » Logged

Fade Fairpunter's picks for sure profits!

AceJack
Has some experience
**

Karma: -12
Posts: 146



View Profile
« Reply #12 on: July 02, 2016, 11:17:18 AM »

I got a phonecall from oanda today and they said said they dont accept either neteller or skrill
« Last Edit: July 02, 2016, 11:28:31 AM by AceJack » Logged

AceJack
Has some experience
**

Karma: -12
Posts: 146



View Profile
« Reply #13 on: July 02, 2016, 11:29:01 AM »

Let me know if I can help AJ i got a guy that will get ya a % back of deposits.
yes I would be interested in this
Logged

Bubbles
Getting better
***

Karma: 6
Posts: 214


View Profile
« Reply #14 on: July 02, 2016, 02:37:00 PM »

Quote from: Bubbles
(of course, you can do exactly the same operation with bank accounts instead of ewallets).
[/quote
and than load you Neteller/Skrill with the currency you need
Logged

Pages: [1] 2
Print
« previous next »