***HU SNG REGS THREAD***
10-24-2014
, 09:36 PM
Regarding Stars currency conversion new fees - all you need do is convert in client to whatever your bank account is to avoid any fees (except for the above mentioned pennies from rounding)
So if your bank is in Euros, deposit Euros to the Euro cashier on Stars. Convert them across to USD, play husng in USD for a while. When cashout, send back to Euro balance then cashout to your bank. The low limits for conversions mentioned earlier are easily raised with an email to support, they're similar to the initially very low limits for xfer to other players.
What really does suck is if you live in a country that uses a currency Stars does not have a cashier for
Monteroy made an excellent post in the IP thread I will quote below.
So if your bank is in Euros, deposit Euros to the Euro cashier on Stars. Convert them across to USD, play husng in USD for a while. When cashout, send back to Euro balance then cashout to your bank. The low limits for conversions mentioned earlier are easily raised with an email to support, they're similar to the initially very low limits for xfer to other players.
What really does suck is if you live in a country that uses a currency Stars does not have a cashier for
Monteroy made an excellent post in the IP thread I will quote below.
Quote:
This post will attempt to give an overall summary of the situation, because it seems many are still generally confused with how this works.
- Exchanging money within the Stars cashier system between two currencies does not have a charge to it (will get to the rounded penny later).
- Exchanging money as part of a withdrawal or deposit does come with a 2.5-3% charge.
- The smart way for a player (who cashes out in US, Canadian, Euros or Pounds) to move money to and from Pokerstars to the real world is to convert it to the proper currency within the Stars client first, or match the currency deposited to the appropriate cashier within Stars (ie: do not deposit Euros into the US cashier).
- Pokerstars has the following term within their terms and conditions
The use of the Currency Exchange Facility and/or User's account to engage in currency trading or speculation is strictly prohibited. To help maintain the integrity of the Currency Exchange facility, PokerStars has the right to, in its sole discretion:
require that funds held in a User's account and converted via the Currency Exchange Facility into a different currency be used for playing the Games before being cashed out, transferred or used for any other purpose;
That seems a bit vague and spooky, but anyone can contact Pokerstars to ask if one can exchange money within the client before withdrawing and they will say it is fine.
What the above condition is really for is to protect Stars from people that exploit changes in the currency price before Pokerstars adjusts their vig free price. Ladbrokers got hit pretty hard by people who would do this by buying the appropriate currency before Ladbrokers did its daily price adjustment.
Hence, if a person is swapping currencies within the cashier back and forth for no apparent reason (ie: to play or withdraw) then that is what Stars will not be happy about.
- Limits exist for how much can be exchanged. Teh default appear to be 3k per day, 5k per week and 10k per month.
I emailed Stars support and they told me that the limits can be increased (subject to an account review) when I reach close to my limit. After receiving this I did a 3k US transfer and emailed support back and they increased the limits to the following:
USD 7,500.00 - new limit per day
USD 10,000.00 - new limit per 7 days
USD 20,000.00 - new limit per 30 days
I assume these can be increased again if this facility is used in a proper manner, much like player transfer limits are increased as needed (again, subject to account review).
I also assume that those that need to exceed their limits for a specific reason (ie they win the Sunday Million and do not wish to take 2 years to avoid the 3% fee) can contact Pokerstars for a one time help in that regard.
The reality is the situation above probably has minimal or no impact on the majority of players if they use some common sense (which is easier once the raw emotions calm down), but that certainly does not mean this change was handled in an ideal manner.
- Pokerstars method of communicating this change was horrible and I agree it does not reflect well on the new owners. I feel bad for Josem, who's OP almost feels like a person being forced to go out and say what was in that message. Why they did not email all their customers about this change (with more clear wording) is a valid concern, and hopefully Pokerstars will come out with a proper explanation for this in future.
- The rounded penny (no matter what, they round down when exchanging within the client whether by the cashier or buying into a tabl;e/tournament) is a very valid concern, particularly for cash players since every time they join and leave a table they get hit (MTT people do not frequently buy in and unregister to really validate much concern in that area).
I am not sure how they handled this situation before this change (since often times a person leaves with a different amount than one started at the table), but this is an area where Pokerstars should make it very clear what the policy is and why.
- People who cannot cash out in one of the cashier currencies are put in a bad position and Pokerstars should properly acknowledge that.
As always with these types of events one needs to let the "sky is falling" crowd calms down for a while and then hopefully all the details of this change can be understood and explained properly.
- Exchanging money within the Stars cashier system between two currencies does not have a charge to it (will get to the rounded penny later).
- Exchanging money as part of a withdrawal or deposit does come with a 2.5-3% charge.
- The smart way for a player (who cashes out in US, Canadian, Euros or Pounds) to move money to and from Pokerstars to the real world is to convert it to the proper currency within the Stars client first, or match the currency deposited to the appropriate cashier within Stars (ie: do not deposit Euros into the US cashier).
- Pokerstars has the following term within their terms and conditions
The use of the Currency Exchange Facility and/or User's account to engage in currency trading or speculation is strictly prohibited. To help maintain the integrity of the Currency Exchange facility, PokerStars has the right to, in its sole discretion:
require that funds held in a User's account and converted via the Currency Exchange Facility into a different currency be used for playing the Games before being cashed out, transferred or used for any other purpose;
That seems a bit vague and spooky, but anyone can contact Pokerstars to ask if one can exchange money within the client before withdrawing and they will say it is fine.
What the above condition is really for is to protect Stars from people that exploit changes in the currency price before Pokerstars adjusts their vig free price. Ladbrokers got hit pretty hard by people who would do this by buying the appropriate currency before Ladbrokers did its daily price adjustment.
Hence, if a person is swapping currencies within the cashier back and forth for no apparent reason (ie: to play or withdraw) then that is what Stars will not be happy about.
- Limits exist for how much can be exchanged. Teh default appear to be 3k per day, 5k per week and 10k per month.
I emailed Stars support and they told me that the limits can be increased (subject to an account review) when I reach close to my limit. After receiving this I did a 3k US transfer and emailed support back and they increased the limits to the following:
USD 7,500.00 - new limit per day
USD 10,000.00 - new limit per 7 days
USD 20,000.00 - new limit per 30 days
I assume these can be increased again if this facility is used in a proper manner, much like player transfer limits are increased as needed (again, subject to account review).
I also assume that those that need to exceed their limits for a specific reason (ie they win the Sunday Million and do not wish to take 2 years to avoid the 3% fee) can contact Pokerstars for a one time help in that regard.
The reality is the situation above probably has minimal or no impact on the majority of players if they use some common sense (which is easier once the raw emotions calm down), but that certainly does not mean this change was handled in an ideal manner.
- Pokerstars method of communicating this change was horrible and I agree it does not reflect well on the new owners. I feel bad for Josem, who's OP almost feels like a person being forced to go out and say what was in that message. Why they did not email all their customers about this change (with more clear wording) is a valid concern, and hopefully Pokerstars will come out with a proper explanation for this in future.
- The rounded penny (no matter what, they round down when exchanging within the client whether by the cashier or buying into a tabl;e/tournament) is a very valid concern, particularly for cash players since every time they join and leave a table they get hit (MTT people do not frequently buy in and unregister to really validate much concern in that area).
I am not sure how they handled this situation before this change (since often times a person leaves with a different amount than one started at the table), but this is an area where Pokerstars should make it very clear what the policy is and why.
- People who cannot cash out in one of the cashier currencies are put in a bad position and Pokerstars should properly acknowledge that.
As always with these types of events one needs to let the "sky is falling" crowd calms down for a while and then hopefully all the details of this change can be understood and explained properly.
10-29-2014
, 11:24 PM
ho lee *** what are they doing? Im so mad atm ffs
http://forumserver.twoplustwo.com/28...anets-1485512/
is this real life
also spin n go 3000x multiplier once in 100k games instead of 1000x
http://forumserver.twoplustwo.com/28...anets-1485512/
is this real life
also spin n go 3000x multiplier once in 100k games instead of 1000x
10-30-2014
, 01:03 AM
10-30-2014
, 01:25 AM
10-30-2014
, 06:17 AM
10-30-2014
, 06:56 AM
Thats only a start. Wait to see how many changes will have been done by this time next year
gg amaya
gg amaya
10-30-2014
, 07:00 AM