August0000 0 Posted January 8, 2006 Share Posted January 8, 2006 I read quite a few comments about Neteller charging a fee for their service and understand there are some misunderstandings.First, if you already have money in your Neteller account, you can deposit money into your poker account without any fees. You can do so by transferring money from your bank account to your Neteller account in advance (takes a few business days) or transferring money from other poker sites. There are no fees by Neteller for any of these transactions.The second method is Neteller's InstaCash. This is the one they charge you 8.9%. (There is a way around this as explained at next paragraph.) They will make money available for you right away when you request a deposit into your Neteller account from your bank account. Let's say you request to transfer $200 into your Neteller account from your bank account. The $200 is available to you right away before they receive the money from the bank. They charge $17.80 for this service and take out $217.80 from your bank account instead of $200. You can use the $200 at any poker site you want right away.HOWEVER, here is the trick. At most poker sites, including FCP, if you use InstaCash through poker site's cashier page, the poker site will pay the fee for you. You choose Neteller's InstaCash instead of regular Neteller from the cashier page. The $200 is withdrawn from your bank account, deposited into your Neteller account, withdrawn from your Neteller account, then deposited to your poker account without any fee to you. The money is available right away, and you will still receive 10% Neteller bonus from FCP.I usually keep funds in Neteller transferring money between poker sites to poker sites; so, I rarely use free InstaCash feature. I don't want to make poker site pay the fee if I don't have to; but if I am short with cash in Neteller, I know it is available.Just FYI.August Link to post Share on other sites
FCP Bob 1,312 Posted January 8, 2006 Share Posted January 8, 2006 I read quite a few comments about Neteller charging a fee for their service and understand there are some misunderstandings.First, if you already have money in your Neteller account, you can deposit money into your poker account without any fees. You can do so by transferring money from your bank account to your Neteller account in advance (takes a few business days) or transferring money from other poker sites. There are no fees by Neteller for any of these transactions.The second method is Neteller's InstaCash. This is the one they charge you 8.9%. (There is a way around this as explained at next paragraph.) They will make money available for you right away when you request a deposit into your Neteller account from your bank account. Let's say you request to transfer $200 into your Neteller account from your bank account. The $200 is available to you right away before they receive the money from the bank. They charge $17.80 for this service and take out $217.80 from your bank account instead of $200. You can use the $200 at any poker site you want right away.HOWEVER, here is the trick. At most poker sites, including FCP, if you use InstaCash through poker site's cashier page, the poker site will pay the fee for you. You choose Neteller's InstaCash instead of regular Neteller from the cashier page. The $200 is withdrawn from your bank account, deposited into your Neteller account, withdrawn from your Neteller account, then deposited to your poker account without any fee to you. The money is available right away, and you will still receive 10% Neteller bonus from FCP.I usually keep funds in Neteller transferring money between poker sites to poker sites; so, I rarely use free InstaCash feature. I don't want to make poker site pay the fee if I don't have to; but if I am short with cash in Neteller, I know it is available.Just FYI.AugustHi August, everything you say is true except that FCP at the moment does not cover the Instacash Fee for deposits. That's part of the reason we offer a 10% bonus on Neteller deposits. Link to post Share on other sites
theresa113 0 Posted January 8, 2006 Share Posted January 8, 2006 August,A very intelligent post. Most old timers on here know this but this is good for someone who is new to online poker. I am going to leave it up here for a few hours for our newer members before I move it over to Online Poker where it belongs. Link to post Share on other sites
mr_english 0 Posted January 8, 2006 Share Posted January 8, 2006 Good post, but think for now I will just keep using my debit card to deposit to my prefered site with NO FEE and get a deposit bonus. Maybe if I ever win a big one I will start funding sites like neteller, but not for now. Link to post Share on other sites
No_Neck 0 Posted January 8, 2006 Share Posted January 8, 2006 Good post, but think for now I will just keep using my debit card to deposit to my prefered site with NO FEE and get a deposit bonus. Maybe if I ever win a big one I will start funding sites like neteller, but not for now.whenever you want to move to a new site, just open a neteller account then, then you will have it. Also they have debit cards with fees, it works out to like 5 bucks to take money out. But you can have cash in your hand in like an hour. I have one just incase I need the money. Link to post Share on other sites
August0000 0 Posted January 8, 2006 Author Share Posted January 8, 2006 Hi August, everything you say is true except that FCP at the moment does not cover the Instacash Fee for deposits. That's part of the reason we offer a 10% bonus on Neteller deposits.Thant's strange. I did use InstaCash thorugh FCP once, and they did not charge me the fee.... Well, but if that is your policy, I was wrong. Sorry, everyone.August Link to post Share on other sites
Logun 0 Posted January 8, 2006 Share Posted January 8, 2006 The "loop hole" of which you speak however is available on some sites. Simply find out which ones, get money on their site, remove it down to your NETeller account and back up to FCP. Link to post Share on other sites
kent2233 0 Posted January 8, 2006 Share Posted January 8, 2006 the other "fee" that is associated with neteller is being canadian you get nailed a fee to exchange the money, there isn't really any way of avoiding this. Link to post Share on other sites
nritchi3 0 Posted January 10, 2006 Share Posted January 10, 2006 the other "fee" that is associated with neteller is being canadian you get nailed a fee to exchange the money, there isn't really any way of avoiding this.Yes. You are dead on, on this one. It would be much easier if they would simply let you keep your money in american currency. You could just deposit from the poker sites to you neteller account then fund your new account. This is the biggest scam in history. Link to post Share on other sites
FCP Bob 1,312 Posted January 10, 2006 Share Posted January 10, 2006 the other "fee" that is associated with neteller is being canadian you get nailed a fee to exchange the money, there isn't really any way of avoiding this.Yes. You are dead on, on this one. It would be much easier if they would simply let you keep your money in american currency. You could just deposit from the poker sites to you neteller account then fund your new account. This is the biggest scam in history.Hi, this isn't FCP related but I'm Canadian and my Neteller account is in $US. I've always moved my money from site to site that way without any currency conversion fees. When I cash out I either get a $US check from Neteller or they do an EFT to my Canadian checking account and they hit me with a currency conversion fee. Of course my bank always charges to convert as well. Check with Neteller and see about having a $US account even though you're Canadian. Link to post Share on other sites
kent2233 0 Posted January 10, 2006 Share Posted January 10, 2006 the other "fee" that is associated with neteller is being canadian you get nailed a fee to exchange the money, there isn't really any way of avoiding this.Yes. You are dead on, on this one. It would be much easier if they would simply let you keep your money in american currency. You could just deposit from the poker sites to you neteller account then fund your new account. This is the biggest scam in history.Hi, this isn't FCP related but I'm Canadian and my Neteller account is in $US. I've always moved my money from site to site that way without any currency conversion fees. When I cash out I either get a $US check from Neteller or they do an EFT to my Canadian checking account and they hit me with a currency conversion fee. Of course my bank always charges to convert as well. Check with Neteller and see about having a $US account even though you're Canadian.I do that as well, no matter what you do you get nailed with some sort of fee though Link to post Share on other sites
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