What do you expect when the software is designed by PokerStars Richard?

I think (someone please confirm), that its not an issue of preferred currency but the which wallet stars draws money out of when you play.

ie.
preferred currency GBP +play USD games+funds are held in USD wallet=no rounding charges

But if,
preferred currency USD + play USD games+funds are held in my GBP wallet= rounding charges.

I think...

Thats totally opposite

If you mainly play USD which we pretty much all do keep your prefered currency as USD only convert to GBP when you are cashing out.

Yeah, you're right, the conversion occurs when drawing money from a wallet with a different currency to the currency of game that you're playing.

The problem is not that my preferred currency is GBP and I play USD games, it's that like a fish I have the "always auto convert back to your preferred currency when leaving games" option on and always have done, so my entire balance is always in GBP and auto-topups need to be converted where I lose between 0.1c - 0.9c every time.

My calculation is similar to joeri's in the HSPLO Stars Regular thread, and it's probably costing me something in the region of $2k / year.

I guess I'm going to keep my balance in USD from now on, and figure out the best way to handle cashing out to GBP.

edit: below is the relevant screen in the pokerstars 7 client

When cashing out to GBP you can move currency from USD to GBP wallet without charge (well, <1c I guess), then cash out to avoid the 2.5% fee.

@U shove i call, I'm fairly sure now that what I posted is correct, theres no harm in you having USD as your preferred currency but it doesnt protect you from these rounding charges. If you go to "multi-currency options" within cashier and uncheck the "convert currencies automatically" option you'll always get a warning before stars attempts to take 1c off you for converting within stars. But I should also have said, you must also have the option "credit funds in my preferred currency when leaving a game" unchecked for what I said to be true.

Yes your right all my games are in USD and just always kept enough in that wallet to play any game so no currency changes were needed. Just reread your post and i misread it so you were correct my bad.

I think I have to do this because pokerstars will only allow me to withdraw in AUD (where my account is in USD) and pokerstars will only allow an exchange to another denomination, up to certain limits, if it's in USD, EURO, GBP or CAD.

TY PS for helping me get started in the money laundering business.

I just noticed the deviation from the XE.com rate was about 2.5% when purchasing USD with EUR via the cashier.

Would've been good to know about this before finding this thread.

I guess Amaya is trying hard to increase profits now.

Would have been nice for a little notice so I could withdraw to my home currency before losing a bunch. Damn scumbags

WTF???
Yesterday i cashout 1600EUR but my bank account is in RON but Amaya choose to convert those EUR in RON and because they have their bank in UK/Isle of Man, my bank needs again to convert those money so that i only recieve 1518EUR. Really?
I just called my bank and said to me why don`t i choose that those scumbags from Amaya send my money in EUR as they did 6 months ago when i cashout 2199EUR and i receieved 2199EUR at the currency rate of my bank.
Ok, i understand that you implemented conversion fee but if i cashout in EUR why the **** you send my money in RON? Doing this i`m geting taxed 4 times for 1 transaction:
1. Amaya converts those EUR in RON applying their 2.5-3% conversion fee
2. Visa has other rates at conversion and must convert from RON to EUR because the transaction isn`t in Romania
3. My bank applys another conversion from EUR to RON + fee of 2%
So in the end i`m losing almost 5% of my money not to say that they have the worst conversion rate ever.

Till Amaya those things weren`t happening because if i cashout in EUR i would receive my money in EUR and only the bank was doing a conversion.

SO DON`T LIE US ANYMORE THAT YOU(AMAYA) ARE DOING THE CONVERSION FOR US AT A BETTER RATE THAN OUR BANKS! My bank gives me 1EUR=4.35RON when Amaya converted my money at 1EUR = 4.29RON and now i`m paying those fees 3-4 times!

In previous deposits, ive always had pounds converted to dollars and vice versa on withdrawals.

Should i make my next deposit in pounds ?, do these automatically go to my pound account ? ( only ever used my dollar account ).

My thinking is, deposit in pounds to my GBP account and then transfer dollars to my USD account to play the dollar tables.

When i want to withdraw in pounds, i transfer from my USD account to my GBP and then withdraw from there.

Anybody figured out the best option for this ?

Do the deposits and withdrawals from the Pound cashier in Stars. Convert the money to dollars within Stars before playing and back to Pounds before withdrawing.

From what date did they start charging you the 2.5%?

Aussie Millions main event seats in the Stars client are currently 11.4k AUD at market rates. The event is 10.6k AUD. The event is still a month away and there's been one adjustment for the falling AUD (it was originally ~13k AUD) will there be another? At the moment Stars is simply taking $800 from every satellite winner.

does it not include hotel?

Anyone? did they leave the transfer to full tilt >> withdraw loophole open?

Surely not

Currently, no the 9503 USD version does not include hotel. Stars adjusted it once to give back 1400 TDS or a few hotel nights, but taking the TDs, this was the price left over. If i'd taken hotel, i'd have hotel nights but package would still be 11k US which it was originally (was reimbursed 1497 TDs the first time they adjusted it)

Was told by a stars employee (won't name them in case they're not speaking officially)

'regarding the satellite win i suggest you wait until closer to the event before you send email about difference'

I trust this person so that's what i'll do, although if I don't get reimbursed if the difference is more than 2-3% of the buy-in (currently more like 7%) then i'll be very, very upset at Stars.

Last year I stopped playing the aussie million satellites because the exchange rate was horrible...looks like I might have to do the same this year. Keep us updated.

I'm not going to do anything about it for now as the exch rate will continue to fluctuate so I doubt they'll be willing to give close to a full refund of the difference this far out but right around the start of the AM series itself i'll be speaking with the Stars reps and hopefully they can lock in an exchange rate that rapes us slightly less, and if they don't they get some negative PR. I'm hoping they'll do the right thing.

Considering they are spending thousands each week just to get a few qualifiers online you'd assume they aren't going to try and screw people on the xchange rate... or maybe that's how they can justify spending a few k each week in satellite extras.

Although if they priced it accordingly now and the exchange rate shifted in your favour are you then giving them those $ back?

They left themselves plenty of leeway for the exchange rate to get worse and still not lose money when they adjusted it they didnt adjust it to the actual rate

Just an update re: Stars adjusting Aussie Millions packages to current market rates. Looks like they're going to do the right thing which is awesome. Will keep everyone updated. Also useful info for anyone planning to buy-in to Aussie Millions events during the Stars client

> Hi Oliver,
>
> Your timing is spot on with your email as I am currently
> personally addressing the matter with our Treasury Department.
>
> Give me until the end of the week to have a response to you.
>
> FYI for those players intending to DBI to the main event it will
> be the same arrangement as last year which was the buyin becomes
> available in the client on January 17 based on current market
> exchange rate plus 1%. Any payouts to players PS account to be at
> market rate.
>
> There will be a small selection of other side events also
> available to DBI into.
>
> regards
>
> Danny

yeah they've done similar before, basically they'd be freerolling themselves if they offered a rate > market standard as they can hardly claim the difference back from the players, so they undersell it and reimburse any difference. It's pretty good practice from stars to be fair.

This stuff is really disturbing. Yes, they are a business. No, they don't need to act this way.