Cashing out from Pokerstars.

Oddjob

Just a quick question on cashing out from Stars. What's the best way, as in the most advantageous to the punter?. A mate had a nice result in a tourney and is looking to cash out maybe 2K. The rate in a Euro cheque seems shocking, If you get a Dollar cheque, do the Banks here screw you as usual?. The money was transferred to his A/C from me initially, so no Neteller or Firepay involved. Any help, gratefully received.

NickyOD

Getting the Check in Euros is the best way. You'll get the exact exchange at the time of cashing out. The check will also come from the BOI so there's no hassle at the bank. The only downfall is you have to wait 10 working days to recieve it.

ionapaul

NickyOD wrote:

Getting the Check in Euros is the best way. You'll get the exact exchange at the time of cashing out. The check will also come from the BOI so there's no hassle at the bank. The only downfall is you have to wait 10 working days to recieve it.

Sure about the 'exact' exchange rates, Nicky? I ask because I cashed out a few days ago and on the Euro cashout menu it stated the exchange rate as being 1.29, which it certainly was not on the day in question (it was actually 1.26 I think, now 1.25). As a result I requested a dollar cheque, as the bank's commission will be less than the .03 difference I expect. Please correct me if I am mistaken, as I plan to cashout again next week and want to maximise what I put back into my current account!

NickyOD

ionapaul wrote:

Sure about the 'exact' exchange rates, Nicky? I ask because I cashed out a few days ago and on the Euro cashout menu it stated the exchange rate as being 1.29, which it certainly was not on the day in question (it was actually 1.26 I think, now 1.25). As a result I requested a dollar cheque, as the bank's commission will be less than the .03 difference I expect. Please correct me if I am mistaken, as I plan to cashout again next week and want to maximise what I put back into my current account!

At the moment its actually less than 1.23. I checked the rate at the time on xe.com when I made my cashout and it was exact when I got my cheque. Mayeb an email to PS support is in order?

Dr_Colossus

Nicky you mentioned that PokerStars cashout checks will come from the BOI. Is BOI = Bank of Ireland? Seems unusual that PokerStars would use Bank of Ireland for their Euro cheques. Can you just confirm that please.
Also even with a Euro cheque will the great Irish banking institutions still not charge you a commission given that the source is not Irish? If BOI is Bank of Ireland I'm presuming that this won't be the case but I remember that I lodged a Euro cheque from a French bank before and I was charged commission as it wasn't written by an Irish bank (What a ripoff).

Culchie

If I remember correctly, cheques are drawn on Bank of Iireland in Shannon

ionapaul

Culchie wrote:

If I remember correctly, cheques are drawn on Bank of Iireland in Shannon

^^^ Yes, you remember correctly How'd you end up last night?

NickyOD

Dr_Colossus wrote:

Nicky you mentioned that PokerStars cashout checks will come from the BOI. Is BOI = Bank of Ireland? Seems unusual that PokerStars would use Bank of Ireland for their Euro cheques. Can you just confirm that please.
Also even with a Euro cheque will the great Irish banking institutions still not charge you a commission given that the source is not Irish? If BOI is Bank of Ireland I'm presuming that this won't be the case but I remember that I lodged a Euro cheque from a French bank before and I was charged commission as it wasn't written by an Irish bank (What a ripoff).

Definitely Bank of Ireland, Shannon for my last 2 cheques.

okidoki987

If you have a cheque drawn on BOI Shannon in Euro and you are lodging it to a Euro account, they CANNOT charge you anything for it. It's the same as lodging a cheque a mate gives you. An exchange rate was already applied (in this case Pokerstars) so all you doing is lodging to your own account.
You might run into problems if the account you're lodging to is not the same name as the name printed on the cheque. I'd imagine it will be crossed so in theory, you can only lodge it to the same named account (in theory ).

karlh

i usually transfer from stars to neteller, to vc and then to bank account. reckon i'm losing out much?

since stars, neteller and vc are all dollar and the exchange is done once from vc to bank it should work out ok?

Culchie

ionapaul wrote:

^^^ Yes, you remember correctly How'd you end up last night?

Hi Iona,

Scraped in 6th Place, €110 credit, whilst top 5 took €250. Happy with that as I was lowstacked going into final table, and would have taken that 6th spot as we sat down.


Yerman was still hitting everything, I've never seen the like of it before ... ever..... hope I'm at same table as him again.

ionapaul

He was amazing....'K4 off, yeah, worth calling an all-in for most my stack...what A6, yep, worth calling two all-ins for my entire stack....5 4 suited, worth calling an all in with A J 7 rainbow board'. That said he contributed about €80 to the prize pool before the break, fair play to him.

Culchie

ionapaul wrote:

He was amazing....'K4 off, yeah, worth calling an all-in for most my stack...what A6, yep, worth calling two all-ins for my entire stack....5 4 suited, worth calling an all in with A J 7 rainbow board'. That said he contributed about €80 to the prize pool before the break, fair play to him.

and the 55's V AA's, and the Q3 hitting 33 and the ............... lol

NickyOD

karlh wrote:

i usually transfer from stars to neteller, to vc and then to bank account. reckon i'm losing out much?

since stars, neteller and vc are all dollar and the exchange is done once from vc to bank it should work out ok?

That's a pretty good idea. Do you have to play so many hands after making a deposit before you cashout from VC? I guess if there's no related bonus you don't.

Imposter

NickyOD wrote:

That's a pretty good idea. Do you have to play so many hands after making a deposit before you cashout from VC? I guess if there's no related bonus you don't.

You don't really have to play any hands but if you are continually cashing out and not playing i'd imagine they'd put a stop to it.

Which reminds me a better play a few hands on VC soon!

karlh

never been a problem. ive done it loads and same day. tbh unless its a considerable amount, i can't see them minding.

works a treat anyway. can do the same with ladbrokes btw.

biteme

ahh so that's who culchie is...

i was in seat 3 on the final table with a very short stack. Couldn't believe I managed to scrap a ticket.

Very strange hand with Culchie and red headed beardy guy (mark i think) with Q9 and AJ and no one hitting a thing yet still betting and calling all the way. Culchie if you had gone all in with the two draws on the turn he would of folded

Culchie

biteme wrote:

ahh so that's who culchie is...

i was in seat 3 on the final table with a very short stack. Couldn't believe I managed to scrap a ticket.

Very strange hand with Culchie and red headed beardy guy (mark i think) with Q9 and AJ and no one hitting a thing yet still betting and calling all the way. Culchie if you had gone all in with the two draws on the turn he would of folded

Howdee Biteme ...

I was weighing that up too, I don't think he was gonna fold ... he had bet 2500, which was going to leave me with only approx 2000 if I called (had only 4500 or so left) on the turn, it had been checked to turn. He had well over 20000 in chips.

I needed either a jack or any spade to take the pot, but was sure he had at least a pair. I'd been playing with Mark all night and hadn't seen any bluff at all.
I wasn't going to get him to fold (IMO) with the extra 2500, so I figured a call would see whether I hit or not , and if I didn't, leave me a remote chance of staying alive (which very nearly did) with a final hand.

The QK suited the hand before was the one that crippled me, I tried to (semi)rob the blinds off CO or button .... yerman called me ( he folded 4 hands preflop all night) , flop came A xx , he put me all in, I knew he had the A, and he showed it, but that was the hand that put my already small stack in intensive care.
I could have gone all in then, he would have called anyway .... I was happy enough to scrape the 6th spot.

wp

biteme

Culchie wrote:

yerman called me ( he folded 4 hands preflop all night)

One of them seemed to be to me, when the blinds were 800 -1500 , he limped, I pushed for 5500 and everyone died including him. I was in shock but happy to double up without being called..

Culchie

biteme wrote:

I was in shock but happy to double up without being called..

Yeh, I noticed, you held the breath and blood vessels were showing

Good Move ... actually the craic was good last night.

BrendanB

On the original topic, you should probably note that the exchange rate quoted by a site like xe is a mid-market rate between buy and sell rates, so you'll always be doing worse than that. 3c doesn't sound all that wrong, it tends to be a 2% or so swing both ways.

dropsy

karlh wrote:

i usually transfer from stars to neteller, to vc and then to bank account. reckon i'm losing out much?

since stars, neteller and vc are all dollar and the exchange is done once from vc to bank it should work out ok?

Hi Karl,

Do you also have credit card details with VC? The one time I tried transferring from Stars to Neteller to VC that worked fine but when I went to cash out from VC to my credit card the credit card details had been overwritten by my neteller details (i.e. it didn't seem to support having both credit card and neteller deposit/withdrawal options available on VC at the same time). So the only cash out option I had was back to Neteller again....VC did set my CC up again but that removed my neteller details ;-( .... so i figured I'd have to go through that process each time I wanted to do this...

D