I hope this is a fine question to ask? I am just curious, i live in the UK and after England and Wales voted for us (Scotland) and the rest of the UK to leave the EU, the £ has dropped a lot in value.

However, as most of my money that i have is on Stars, this seems like a great time to withdraw most of it right?? last month the exchange rate was like £0.69 to the $1, now its £0.75 to the $1. is the £ likely to recover?

thanks, and i hope that this question is okay to ask in here

if you have any funds on there that are surplus, then yes now would be a good time to withdraw. The recovery time can vary from a few months to a few years.

If you think the £ is going to recover in value, now is a great time to withdraw.

If you think the £ is going to lose value, now is a terrible time to withdraw.

No one can tell you what will happen because no one knows what will truly happen.

--
Kahn

Speaking ONLY for myself here in the UK - if I had a spare $1,000 USD on my PS balance not needed for a poker bankroll [I don't so it's purely an "if"] then I would be converting to GBP & withdrawing now. Despite the recently announced [potential bluff] interest rate change to come I think around now is close to the best time.

That said, please pay attention to this: So it's potentially a very bad time to convert & then withdraw funds immediately that have only just arrived in your account via player-to-player transfer [for example] - PokerStars will be extra attentive right now to any money movements that they might interpret as currency speculation.

I personally think its a good time yes but its impossible to know for sure whether the pound will recover. My money is on it will.

thanks a lot for the replies, really appreciate them

well i usually like to keep my account at least on $20k cos that allows me to play $215 tournaments when i want and be rolled for them properly.
however last month i was playing $0.50/1 and done pretty well so gonna play some $1/2 zoom so obv i don't need that much to play $100/ $200 cash games. and i was thinking i could just re deposit later on if i switch back to tourneys or whatever, and i think this is the peak for $ vs £ in like 50 years or so.

my bank will prob think I'm money laundering if i withdraw most of my account lol. prob gonna do so though after reading the responses so ty again.

Btw if anyone is thinking of doing the same and withdrawing, MAKE SURE YOU CONVERT FROM $ over to £ BEFORE you withdraw on Stars. this way you avoid any currency fees. cos if you withdraw straight from $ to a UK bank then you have to pay like a 3/4% effectively rake.
but if you transfer from $ to £ first, say $100 and you get £75 then the £75 goes in to your bank.

From the HMRC website giving advice to businesses on their "Money Laundering Regulations: risk assessments" page: I haven't bothered to check what the £ figure is for British banks having to report to the HMRC & other more secretive agencies [they do exist now due to terrorism, trafficking, drugs etc.], but I suppose you might want to withdraw in £5k amounts or less just to avoid delays/hassle

Not quite related since you have a clear money trail, but I hope of interest: Late in 2015 my bank of many years wouldn't accept £7k cash from me over the counter in the branch because I didn't have a receipt on me to indicate where I got it from. Had to go home & dig the receipt out.

Never happened to me before although I've made many similarly sized deposits. It was explained to me that banks in the UK [& presumably elsewhere] are skittish now regarding the money trail because heavy fines they've been hit with for laundering Mexican cartel drug monies & similar.

BFI is that way

I know this was ages ago but i'm never on this haha, appreciate the response though, thanks