what the heck is wrong with mindark's exchange rates?!?

theProphet

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Prophet the Prophet from Planet Zen
when i google the current exchange rate of euro to dollar, it says 1 Euro = 1,29231 US-Dollar

but

when we deposit 100 euro we only get 1163.50 PED, so basically 1 Euro = 1,1635 US-Dollar

WTF! so where are the missing 0,12931 US$ per euro we deposit? this is a friggin 10% difference!!! :scratch2:

:confused:
 
it was paysafecard if someone wonders, and ofc i know that they used to charge 3.5% disagio in the past, like they do with credit cards. :mad:
 
good that i don't look at this when i depo...

cheapest way should be paysavecard for you - there you can depo in euro.


greetings
 
hm, maybe change it to dollars first and pay with dollars. Exchange is always a lost. Except for the bank.
 
So it's basically paysafecard that isn't the best option to deposit?

Seems a bit odd to be blaming MA for that?
 
MindArk wont be doing the currency conversion, paysafecard will be. Just as when you deposit via a creditcard, the credit card company converts the currency at their own conversion rate.

When I check paysafecard's exchange rates: https://www.paysafecard.com/en-au/currency-calculator/

1. Their current exchange rate for 1 Euro is 1.26204 USD (not the 1,29231 you quoted).

2. paysafecard state right there on that page that they charge a 2% fee for every currency conversion.
So deduct this too.

3. MindArk will also be passing on to you the transaction fee that paysafecard charge them.
 
When I check paysafecard's exchange rates: https://www.paysafecard.com/en-au/currency-calculator/

1. Their current exchange rate for 1 Euro is 1.26204 USD (not the 1,29231 you quoted).

That's the rate for Australia. Their rates for other countries are different. If you change your location to Poland, you'll see 1.26077 (just for example). Not that there are huge differences, but still.

Also, if neither of currencies is EUR (e.g., when converting from AUD to USD), you get to pay double fee (4.04%).
 
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That's the rate for Australia. Their rates for other countries are different. If you change your location to Poland, you'll see 1.26077 (just for example). Not that there are huge differences, but still.

Also, if neither of currencies is EUR (e.g., when converting from AUD to USD), you get to pay double fee (4.04%).

I changed different countries, and the rate didn't change, just the language on the site.

It does however change over time, so that now (a bit over an hour since my last post), the rate is different.


Also .. I wonder if paying from an amount in USD from a Euro-based paysafecard to a Swedish business (so possibly in kroner) attracts those 'double fees' too?
 
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Ive done a few bank transfer style depos and noticed that i get a MUCH better fx rate compared to my cc.
 
Ive done a few bank transfer style depos and noticed that i get a MUCH better fx rate compared to my cc.
Definitely.

If you plan to depo $100/€100/700SEK or more, and you have the time to wait for the PED for a bank transfer to go through (*), use it.

I don't know how fast/slow it is for international transfers, but from Sweden (using other bank than MA uses), my bank performs transfers 4 (IIRC) times/day, meaning I get the PED within a few hours during business hours (UTC+1 or +2, depending on DST). An additional benefit using bank transfer, is that you can never "get the stick" with "must be a payment processor problem" or similar, that could leave your money in limbo (sometimes for extended periods of time, judging by some horror stories we've seen here on PCF).

(*) provided your bank won't charge you an arm and a leg. I've come to understand international fees may be added. In Sweden, between Swedish banks (at least), a bank transfer costs nothing.

++luck;
 
i had focussed it out too. Before i had a fee around 4 % with paysave Cards.
Looks like fees are doubled now, 8% or such. No clue its a paysave bug or its usual now.
 
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