350% Higher Withdrawal Fees Than Posted on Website?

[Captain Jack]

My typical withdrawal is 10K PED. This is because there is a 1% charge on all withdrawals, with 100 PED being the minimum charge.



Recently I audited my withdrawals and noticed that, rather than receiving $990 (after the 1% withdrawal fee) I have been receiving $965, after which my new bank (which I was forced by MA to open an account with since they changed their bank and now we can't withdraw through most banks in the U.S.) charges an additional $15 incoming international wire transfer fee. This means I end up with only $950 in my account, a loss of 5% total.

I thought this was Chase's fault, perhaps charging me twice, so I called their customer service line. They assured me that they only received $965 from the sending bank.

So I then verified my withdrawal amount on the Entropia Universe website, sure enough it was 10K PED. I then verified the withdrawal fee advertised on Entropia Universe FAQ section, and it stated 1%. So I should be getting $990 sent to Chase Bank, but I am only receiving $965.

Where did the other $25 go? It wasn't a bank fee on my end.


Update 12/03/2019

I called Chase Bank and spoke to their Wires team (if you bank with Chase please note their business hours are different than the Checking team). There were no 3rd party banks the money was going through, it was going directly between MindArk's bank and Chase bank. There is, however, an administrative issue going on here.

MindArk's bank has an account with Chase bank and they have an internal agreement which basically permits them to do debits from their Chase account rather than actually wiring the funds every time. MA's bank needs to put "OUR" under Field 71A in order for the fee not to be charged to the recipient. I will contact Support and request that they inform their bank to update that field, and will update here when I get results.

[MikeH]

I notice there is a 25$ deduction in my withdrawals i believe its the fees bank charges MA for sending money. And about the 1% thing i see they charge 1% from PED card when we request withdrawal and again charges 1% on the amount which is being sent to our bank.

Lets say i request 10k ped (1000 $) withdrawal
first it will charge 1% (100ped) from PED card
second it will charge 1% (10$) from the amount which is being sent so you should get 990$ instead of 1000$
but again they charge 25$ flat (i believe its the fees MA needs to pay the bank for outgoing transaction)
so you should get 965$ (1000$-10$-25$) if you bank don't charge for any incoming transaction.

[Darth Revan]

What did you normally receive prior? Has it been the same all the time and you just noticed now?
Or has this changed since you had to change banks?

[Captain Jack]

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What did you normally receive prior? Has it been the same all the time and you just noticed now?
Or has this changed since you had to change banks?

Before MA changed banks I was receiving $990 to my bank.

[Captain Jack]

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I notice there is a 25$ deduction in my withdrawals i believe its the fees bank charges MA for sending money. And about the 1% thing i see they charge 1% from PED card when we request withdrawal and again charges 1% on the amount which is being sent to our bank.

Lets say i request 10k ped (1000 $) withdrawal
first it will charge 1% (100ped) from PED card
second it will charge 1% (10$) from the amount which is being sent so you should get 990$ instead of 1000$
but again they charge 25$ flat (i believe its the fees MA needs to pay the bank for outgoing transaction)
so you should get 965$ (1000$-10$-25$) if you bank don't charge for any incoming transaction.

These fees need to be disclosed on the website BEFORE withdrawing, not left to be discovered after.

[MikeH]

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These fees need to be disclosed on the website BEFORE withdrawing, not left to be discovered after.

I have seen the $25 charge in all my withdrawals its not new but i agree they need to mention that too . and in withdrawal page i see they mention " Note: additional charges may be levied by your bank."
but they should also mention " Note: additional charges may be levied by our bank." too.

[mastermesh]

My bank says they'll charge 40 usd for international wires, which is what they consider a transfer from Mindark.

In the past we have had identity theft issues as well, and part of me has a gut feeling Mindark or the third party they use may well have had something to do with that, and quite possibly is part of the reason so many places don't do transfers with Mindark as used to a few years back?

[Ace Flyster]

Arent those your bank fees, not from MA. MA have no control over what each bank will charge. So they cannot say that when you initiate the withdrawal. Completely separate to MA.

Rgds

Ace

[Captain Jack]

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Arent those your bank fees, not from MA. MA have no control over what each bank will charge. So they cannot say that when you initiate the withdrawal. Completely separate to MA.

Rgds

Ace

No, my bank fee is $15 which hits AFTER the money is sent to my bank account. There is $25 that is unaccounted for.

[Mac Farmer]

Lmao . You are paying 25$ to your bank and blaming MA on this or my math is bad

1000 withdraw make 990 $ usd and you got 965$ so that is 25$ that your bank take not MA

I also got near 10$ on top on my withdraw last time and its def my bank take them not MA