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Question about Pokerstars cashout (Canada) Question about Pokerstars cashout (Canada)

03-27-2017 , 06:41 PM
I would like to withdraw my USD funds to my USD-denominated Canadian bank a/c to save on exchange fees, however when I choose the direct transfer withdrawal option, it mentions "Currency" as "CAD". Does this mean the USD funds would be converted by Pokerstars to CAD when processing the transfer and re-converted to USD when deposited into my USD-denominated bank a/c, thereby incurring double conversion?

Is it not possible for them to send the transfer in USD itself without converting to CAD since my bank a/c is denominated in USD?
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03-27-2017 , 06:54 PM
what did support say when you emailed them?
Question about Pokerstars cashout (Canada) Quote
03-27-2017 , 07:01 PM
Quote:
Originally Posted by pmarrsouth
what did support say when you emailed them?
Still waiting on a reply. Just wanted to know what other Canadians holding USD Pokerstars a/c do. Are there other withdrawal options I would have (by depositing say $20 using that method first) that could save me conversion fees?
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03-27-2017 , 07:21 PM
Cashing out US funds that way has been gone for years. It forces it to Canadian now, so convert it to Canadian in the Stars cashier first at no cost. You will have to pay to convert it in the real world to US.
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03-27-2017 , 08:55 PM
Quote:
Originally Posted by Monteroy
Cashing out US funds that way has been gone for years. It forces it to Canadian now, so convert it to Canadian in the Stars cashier first at no cost. You will have to pay to convert it in the real world to US.
Ive always been able to withdraw USD funds to my USD-denominated bank a/c on other sites and ewallets.

So should I convert the amount I want to withdraw to CAD (partial conversion possible?) in the Stars cashier, then request it to my CAD-denominated bank a/c (instead of US-denominated bank a/c)?
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03-27-2017 , 09:45 PM
Bank wires in US funds to Canada go through banks in the USA first, so that is probably an issue, and I am not sure one could ever do a wire to a US account in Canada. I used to get US checks before Black Friday and the processor changed often (whereas the Canadian check processor stayed the same for years).

If you create a Canadian cashier in the Stars cashier you may have to do a deposit first from your Canadian account before you can do a withdrawal, but if it is to and from a Canadian account then there will not be an exchange fee. E checks work that way as well, and usually are in the bank within 2-3 days.

Always be sure the currency matches between the stars cashier and the bank account if possible.
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03-27-2017 , 10:54 PM
I had done so many transfers from poker sites (USD) to Skrill (USD) to my USD-denominated Canadian bank a/c without a problem, before they shut down to Canadians in early 2014.
Question about Pokerstars cashout (Canada) Quote

      
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