^

Gradually implementing reduces the chance of a ''riot''

Eric Hollreiser has addressed this on twitter already today. Although he didn't use the words he played the "communication error" card again. This was a change they have been considering and we're going to trial it in specific markets. The email may have been sent out unintentionally early before they had all their PR BS lined up to support it. As of now he says it is not being implemented.

Some of the posts here seem to indicate that there is some lack of understanding of how things work now which has been in place since shortly after Stars was bought by Amaya.

Within the Stars client four currencies are supported: USD, CAD, £ and €. Conversions between these four currencies are done at the current mid market rates with no additional charges provided you do the conversion within the Stars client. If you live somewhere that uses another currency then whenever you deposit or withdraw there is a conversion to or from the default currency in your Stars acount, this conversion is done at market rate plus a conversion fee. Also even if your native currency is one of the four and you make the mistake of not doing the conversion within the client you will get charged the additional fee. For example if your bank account is in € and you make the mistake of making a deposit/withdrawal to the Stars USD wallet you will get charged the extra fee.

Prior to Amaya there were no extra conversion fees for anyone. This was possible because they were a privately owned company and the owners were free to eat the expense. Publicly traded companies have a fiduciary responsibility to share holders not to just give away money and literally everyone else charges FX fees so it would be difficult not to also do so.

The change the email was announced would have added the extra fees to conversions done within the client between the four supported currencies. This would have been a cash grab because ther is no actual conversion transaction taking place.

Care to share the link, cant find anything myself. If this is not happening they really should send another email explaining the situation. Was thinking about asking the stars support about this but not sure if that's the right place. Need to be sure I ain't paying a little bit of extra playing with the € cashier. And for sure I ain't converting my funds to $ so I can play "for free". Even when they are saying we offer really really really good rates.

I will have to do some digging. I first saw this on twitter this morning and Eric had replied.

Sorry I don't know how to directly link tweets but the original question was:

To be fair to Stars, I've always wondered why they allowed currency transfers at spot rate.

Specifically during weekends, when Forex markets are closed, it's naive to offer Friday's close rate. You just set yourself up to get scalped off if any big news comes out over the weekend that affects currency rates.

If they suspect you of engaging in currency speculation they will ban you.

Appreciated thx.

here is the tweet: https://twitter.com/erichollreiser/s...61614953652225

Just arrived:

We recently contacted you to inform you that we plan to start applying a small margin to currency conversions in all gaming activities as well as intra-account transfers (between bankrolls).

Following an internal review, we have decided to not go ahead with this change.

Don’t hesitate to contact us if you have any queries.

Regards,
Stars Support

Yeah received that allso. Perhaps they received some feedback and realized that this ain't such a good idea afterall.

Already withdrew roll, GG

Hi, today I have received this e-mail, stating that Stars changed their mind lol
https://i.imgur.com/j80udxm.png
Edit: should have read lasts posts of thread before posting myself (facepalm)

I guess monopoly breeds unprofessionalism.

I love their PR mumbojambo tbh when they introduce changes when they take more and more money from players "Following players feedback..."

Like how ******ed they are to expect anyone believes it?

Or maybe they just changed their mind.