Hi, I had a decent score on pokerstars and was trying to convert the $ into € in my Pokerstars account but the client only lets me convert $3k per day. Having read that they take 2.5% if you don't withdraw in your home currency I didn't want to just withdraw in dollars.

I contacted the support, but they haven't replied to me in 60 hours already, would it be okay for me to, for example to sit down with $25k USD a few times and leave the table so it automatically converts to EUR ?

Thanks

I would avoid doing anything like that (will that even work, I thought it converted it back when you left). Pokerstars really hates all forms of angle shoots, even ones that seem harmless. Email them again with URGENT in the title, as they will always do a conversion of a large amount if your plan is to cash it out, but their support is not what it once was, so keep trying.

I believe that if you withdraw in USD to your bank, it will be your bank that does the conversion to EUR, and that will probably be close to the least expensive way possible to convert USD to EUR.

Obv, check with your bank that this will be the case if you receive a deposit in USD.

Well, pokerstars converts the money according to xe.com, it's way better to convert at pokerstars than at a bank where I would have to pay quite a big fee

Have you checked this with your bank? What bank are you with?

My bank, First Direct, states:

"Receive money into your account

Payment type:

Receiving money in a foreign currency

We won't charge for receiving up to €50,000 from countries in the EU if the relevant identification numbers are provided i.e. Bank Identifier Code (BIC) and International Bank Account Number (IBAN).

Charge:

£5.00"

(Admittedly, this is related to EUR. I'll try to find out if it's different for USD.)

*

Edit:

"First Direct receiving fees

Foreign Currency Payments and Sterling payments from banks outside the UK

Payment type:

Receiving money in Euro from the EEA; Charge: £0
Receiving money in a foreign currency other than Euro or Euro from outside the EEA; Charge: £5
Foreign Currency Payments and Sterling payments from banks outside the UK; Charge: £5"

And, obviously, a reputable bank will use a legitimate conversion rate, such as that of XE.com, so it still seems very likely to me that this will be your most inexpensive route to your money.

Pokerstars does the conversion if he does not do it himself in the cashier. They are not going go send dollars to a foreign account and they are going to rip him off with that fee.

And as far as i know Kenzas7 is right the conversion in the stars cashier should be the cheapest.

Poor OP who is only able to convert 3K daily. I hope he can solve his problems one day and he can move on with life.

They all use a ripoff rate that will scalp you for 3-4%.

I've just checked with Karen, PS Cashier Dept. My last withdrawal was in April, and I withdrew in my "preferential currency", US dollars, to my UK bank, First Direct. She confirmed PS sent US dollars to my bank as requested. My bank converted the dollars received to UK pounds sterling.

I don't know what the conversion rate was, but, at the time, I received what I thought was the right amount. When I get time, I'll ask FD what rate they use - not that it matters to the OP. Obviously, he should ask his bank what rate they use and what they charge for a foreign money deposit, but if US dollars is his preferential currency, PS will send his bank US dollars.

If his preferential currency is the euro, I don't see why PS didn't convert his money on the table back to the euro in his account, immediately he left the table, as they normally do. Why and when would they keep his account in euro as preferred, and then add a "sub-account" amount in dollars? However, maybe they would send the dollars from such a sub-account direct to his bank, as they seem to prefer to bank in dollars?