21 May 12 03:03 AM , Sean -888 Mgr wrote:

Hi Guys,

You can review the applicable currency exchange rate in the cashier by clicking ‘Exchange Rate’ underneath ‘Amount to Deposit’ at any time. This is not a hidden rate as some of your posts have suggested. 888 remains transparent in this manner and ensures that you are aware of the amount being debited from your account -see below for an example.



If you wish to change the regsitered currency of your 888poker account to US dollars, as this is the currency that 888poker operates exclusively in, then please send a request to support@888poker.com. After this is done, then all future deposit/cashout transactions will be at the current bank's exchange rate.

You are correct Sean, the exchange rates we are getting are right there in front of us when making deposits/withdrawals, the point is they are INCORRECT/WRONG/OUTDATED and are NOT at the current exchange rates used world wide, that is the point most are trying to make.  
 
I have made another withdrawal yesterday and am waiting for it to clear atm (the waiting time for this is also ridiculously long compared to all other sites) and with our Aus$ just falling below the US$ for the first time in quite a while, i should recieve a little more than what i withdrew in US$ obviously, as Neteller charges me no fees for conversion to my accounts currency.
However if it is the same as my last couple of withdrawals, i will receive around 4-5% less than the amount i should using the "current" exchange rates.  Here is the exchange rate quoted on forex at the time i made the withdrawal 1.0000 AUD= 1.0256 USD, when the withdrawal clears, i will see how this measures up, but am 99% sure it won't and that is my point and many others in this thread from what i read.
We are being blatantly robbed of $$$ when depositing and withdrawing by the current exchange rates NOT being used, unfortunately there is no other way of putting it, whilst we pay rake to the company by loyaly playing here, that's a big kick in the face from 888 imo.

       

I, not being an employee of 888, and having drunk a few beers, have read that 888 are making great strides and investment into re-entering the American market.

 How do 888 intend to address this future in-balance between the U.S.A. and the rest of us. With specific reference to stopping 888 players, present ‘comparable’ Exchange rate issue, turning into a bigger issue of equality.

 If you add the U.S.A into the equation, will 2 plus 2 still make 3 for non-U.S. residents.

 Do 888 have plans to drop the current ‘commission’ charge or at least take another look at their definition of ‘comparable’ Exchange rate?

 Your response could offer some hope that this issue, today and in real time, is not just a minor inconvenience. Like me having just finished my last beer.

 I am aware that I can change banks, cards or transact with 888 via a third party service, after emailing support to change my account to $$$$. Remembering, of course that I can change the currency in the cashier before support make the changes to my account. (please see above for details on how to do this from the 888 approved post).

 To clarify, changing banks, cards etc would be based on who offers the best rate of exchange and/or lowest commission charge if any. Of course, If there is a commission charge, then one that offers a better word than ‘comparable’ to describe the disparity.

 Off to the Offie…….

23 May 12 11:15 AM , cryptic3(888mod) wrote:

I have been having a long chat about this today.

Here are my thoughts and suggestion for a solution.

I agree that the 888 exchange rates are not good for a lot of us but you do not have to use them if you don't want to.

Simply pop an email to support (support@888poker.com) and ask them to change your account to USD.

You will then deposit and withdraw in $$$ and your bank or card will convert so you get their rates not 888's. My bank has a great rate of exchange and since I found out I could withdraw in $$$ I have never lost out, in fact I have had better rates than when I deposited so gained money 

It is a simple solution for all who do not want to have 888's exchange rates affect their money and will ensure you get a more up to date exchange rate.

Those who need to withdraw before their account is changed to USD can select $$$ from the drop down and again their bank will convert not 888.

It is an easy solution to this issue and one that all players can choose do.

Hope this helps.





 

Thanks for the response cryptic, but my acount is already in USD and always has been. 888 still uses "their" exchange rates, not the "current" ones, changing my AU$ to USD or vice versa for deposits and withdrawals to and from Neteller and i'm losing 4-5% on EVERY transaction i make, this is working off the "current" exchange rates used world wide at the times of my transactions.

24 May 12 04:19 AM , eldiabl0800 666 wrote:

I was not aware that you could accidentally or otherwise withdraw your money to an account other than that used to make the initial deposit.

Was also not aware that you could profit from exchanging currencies via 888. Although I guess if it is not for large amounts, then it can not be seen as Money Laundering.

Will check this out.

Some useful info.

When you go to the withdraw option you have a choice of where to withdraw to if you have used more than 1 deposit option in the past.
The first option that comes up for me is Neteller and I have to choose my bank from the menu. I forgot to do this last time which is why it went to neteller.

As for profiting I guess if you choose the best days to deposit and withdraw then you can make a few pence here and there if your lucky.