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Tips For Avoiding Currency Conversion Losses

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  • Tips For Avoiding Currency Conversion Losses

    Hi guys.

    Recently I decided to try playing on GG because I was struggling to find enough MTTs at my target BI across Pokerstars/Grosvenor.

    GG have an introductory offer matching first deposit up to $600 (after about a billion raked hands apparently...) so I withdrew $600 from Pokerstars and stuck it into GG.

    It's actually cost me £30 ($39.99) more to deposit $600 in GG than I got back withdrawing $600 from Pokerstars which is fairly horrendous I'd imagine both sites offer awful currency conversion rates so I knew there'd be a hit, but that's a lot in my opinion.

    I don't actually have USD bank account, so does anyone have any ideas how to avoid stuff like this going forwards? Should I just get a USD account?

    tl:dr - how to avoid currency conversion losses?

  • #2
    Right, it's the criminals over at GG Poker who apply horrendous exchange rates. [Edit: Pokerstars rates are actually very close to market which was a pleasant surprise]

    I've been using their site for about a fortnight now and I'm sick to death of it. They are deliberately misleading with their wording and their apparent offers are not actually obtainable.

    I think the best way for me to withdraw my funds is to create a Skrill account in USD which should be able to receive the funds in USD for free, and then charge a 1% fee for depositing this elsewhere.

    Anyone got a better idea?

    Obviously GG don't allow payments to paypal because that would be really useful. God I hate them.