Hi Guys,

You can review the applicable currency exchange rate in the cashier by clicking ‘Exchange Rate’ underneath ‘Amount to Deposit’ at any time. This is not a hidden rate as some of your posts have suggested. 888poker remains transparent in this manner and ensures that you are aware of the amount being debited from your account -see below for an example.



If you wish to change the registered currency of your 888poker account to US dollars, as this is the currency that 888poker operates in, then please send a request to the support team. After this is done, then all future deposit transactions will be at your bank's exchange rate.

For withdrawals, each time you submit a withdrawal, you have the option to choose your withdrawal currency -see below screenshot. This gives you the option to decide whether you want 888 to do the currency conversion or your banking institution.







The choice of how to withdraw and/or deposit is entirely yours.

maybe not hidden but it's still absurd

New here, no idea if right place to put this, probably not or if it had already been discussed but...

I have just recently noticed that 888poker/Cassava Enterprises and other sites on this network like WSOP are stealing money on every withdraw. they are not converting money right and seem to be skimming a little of the top on every withdraw thinking they can get away with it. it must be adding up to millions each year that people are having stolen from them.

Anyone else noticed they are doing this and why are they aloud to get away with it?

I have tried emailing them about this for some sort of explanation but no replies and the live chat help no longer works in my account.

If you play on this site and have recently made a withdraw from $ to another currency have a look what the correct exchange rate was at the time and what they sent you, you will notice they are always short and where is that difference going? into there pocket! it's theft and something needs done about it.

its like the basically everywhere, even banks rape a little a bit.

its pretty rare you ever get a true market exchange rate when you are using different currency

Can you give a specific example of the amount of the withdrawal, rate you were paid, and the exchange rate offered at your local bank at the same time?

Cool story brah but no poker site or bank ever uses the exact exchange rate that you will find on sites such as Oanda. Because that's how especially banks make profit ...

True - this is completely standard and why you should not accept begin billed in anything but the local currency when you're abroad travelling or shopping online (or cashing out from poker sites). Your bank is always going to give you a better rate than what you get if you let the shop/site do the conversion for you.

And no, it's not theft or fraud.

Never realized this was standard practice. Thanks for sharing OP.

Except Pokerstars

LOL

Well I've used a lot of poker sites over the years and never had a problem on the exchange, I always get the right amount and within a few days from pokerstars, 888 are really slow are withdrawals.
Maybe some people just have to much money to notice or care but there is nothing standard about it.

I withdrew $2700 from 888 and in my account next to that it says they have sent £1,576.99 and it should of been around £1,628, £51/$84 short and looking at all other withdrawals in my account they do it every time. It's nothing to do with my bank even before it left 888 it was short.

I pay my rake and that's how they make there money, doing this is just wrong and yes it is theft they are sending players the wrong amount of money and keep the extra, someone is definitely stealing money here.

You guys are idiots that are mocking OP. 888 is stealing significant amounts of money in this way. If you cash out 5k from Stars and 5k from 888 you could get around $200 less from 888. That is pretty messed up.

Who is mocking him?

People are just pointing out that this is standard practice. It's not illegal and it's not fraud. It's just one of those things you should be aware of and pay attention to.

They aren't stealing anything. They are providing a service where they will exchange currency for you (something which ALL industries will charge a levy for as it incurs risk). They just happen to charge quite an expensive levy.

oh sure, like 3-4% in every transaction sounds reasonable for that risk.

you told some true about 888 being a "currency service", imagine that when they operate in USD and no US players play there, how convenient.

Are they forcing withdrawals in your local currency or are there other reasons why you can't simply make a USD withdrawal?

As mentioned before, that should be your standard practice for any site, as no site is going to do this without charging extra. Some charge just what they have to to make sure they're not losing money from currency rates changing and some charge stupidly high fees over and above this - either way, you should never let the site do this conversion for you.

Same goes for using mini banks when you're on holiday abroad. When it asks you if you would like to be billed in your currency rather than the local one, never answer yes or you'll get screwed.

I'm a UK user of 888 and after calling them up and getting them to change the withdrawal currency to $ USD, the amount I received in my bank was very much in keeping with the currency conversion I got from xe.com for X amount. Happy days!

just a confirmation for the ppl here that insist saying "all" sites charge currency rates, i admit that its standard procedure for most of the (shady) sites to charge a rate on currency conversion.

[img]http://s24.************/63km1cgb5/spot_039.jpg[/img]

[img]http://s23.************/nvtrq9ddz/spot_041.jpg[/img]

the convenience is:

that the profiteering on the exchange rate isnt shown in the PLC listed profit /loss statements

the smoking gun in the upcoming "CLASS ACTION" against this deceptive practice ,

before initiating the actions ive placed a bemand on 888holdings for the 4% on all my deposits since i started play in 2007
so lets see how the deposits are dealt with before proceeding on the "withdrawal" side of it

and also provide the 1million or so users that have been dealt with this way
and are eligible to join in the action
a very sad user

it was their ignorance when a UK "licenced bookmaker " asked 888SPORT to plz explain

and on the subject of bookies and "poker"
i wonder how the "australian winners " of the freeroll series that 888 offers its ozi afilliate FHG players are going to get on , now that FHG sold its "bookmaking site " to ladbrokes " last year

alas 888 didnt notice and kept providing its "opposition" ladbrokes users to play for 888 prizes

sadly another case of the "right hand ruling the left"

i hope and pray 888 will honour the prizes you guys have waited so long for

the difference is
CASSAVA is a "bank in its own right , and is not subjected to "PAYING TAX's" in most countries

IT avoids prosecution in many jurisdictions because it has "ALIEN STATUS"

meaning its trading outside some countries "laws "

full tilt , stars use "thomson reuters ' for their exchange , which appears to be the benchmark !!!
whilst CASSAVA dream up their own + 4% in all countries UNLESS special arrangements are made

ive been threatened with a "libel suit " in the past for mentioning this ,

my response has always been
you cant bring an action
if your breaking the laws of the land , that 888 are doing in australia untouched and unchallenged ??

So the representive said we could email support to change our currency from $ to €, right?
When I do this no fees will be charged anymore, is that right?
Also how does currencys get converted then? The dollar amount with which I buy in to the game will be converted with the exact same rate with which also my winnings get converted?

Hi,

I was going to get back into playing on 888poker.....but I have read that there is no way to avoid crazy currency fees.

My 888 account is in dollars, but my bank account is Euro. If I deposit will I lose a lot of money on the transaction?, if I withdraw do I face the same loss.

Is there anyway to avoid this.

Thanks,

don't play there. They have highest ****ing rake ever and almost 0% rakeback.

Currency fees are low, but it doesn't matter rake is very high and software sucks. Go for Pokerstars if not possible then iPoker

Guys, my bank account is Euro.

However I have a neteller account which I think is dollars, havent used for ages.
Would I be better off changing my 888 poker account to dollars and using neteller account to withdraw/deposit?

Anyone have answers?

See this post as it may help you with your query.

http://forumserver.twoplustwo.com/sh...&postcount=102

Considering you're already covering the exchange by 3-4%, for the sake of customer relations, why doesn't 888 just straight up convert with your stated exchange rate as of the time of withdrawal rather than some unknown date in the future?

There would be a stark difference in complaints, and you'd have a legitimate claim that people know what they're getting into and have options, if people saw "Your withdrawal of $100 USD = $85 CND" directly in the withdrawal window rather than either assuming that it's reasonable and going ahead with it or having to do this round about bull**** of going to the deposit window to find an estimate of your future exchange rate.

At the very least, put 888's exchange rate for today in the withdrawal window for a frame of reference for those that aren't quite as extensive in their search to minimize extraordinarily large fees.

As a PR person, I would think you're aware that perception is reality. If customers are saying the exchange rate is hidden, the exchange rate is hidden. Clicking on the "Exchange Rate" link in the withdrawal window shown in the image and receiving a statement rather than a number is a prime example. 888 saying "Oh but it's over here in this other part of the site!" is not a remedy nor in the spirit of customer support and 888 is going to continue getting flamed for it every time someone makes a withdrawal, doesn't know just where to look while assuming 888 is respectable, and is sadly surprised when it hits their bank. They then return here to complain resulting in the same after-the-fact excuses from 888.

These are legitimate complaints, and the longer 888 takes to change something so simple for clarity's sake, the more 888 looks like an intentional currency exchange racket justifying themselves on technicalities.