Help: Advice needed from those In the UK who have made a withdrawal

[Supajosh]

So after 10 years of playing , im finally deciding to withdraw some ped . The amount will be of a decent size 50k ped + and was hoping for some advice from those in the UK who have done this before.

I was going to withdraw through my account online ( not ingame ) and got a little confused when i saw the 'Alternative currency' drop down. I understand this is for banks that don't accept dollars into their accounts but my questions are thus >

1. I bank with santander - does anyone have any experience of them accepting USD deposits ( im planning on calling to check tomorrow but just thought i would double check here )

2. if they do accept USD deposits (which i presume they do) should i just leave that as the currency or would there be some other advantage either financially or time wise (maybe faster deposits?) on requesting it in GBP ?

Im only concerned since its quite alot of ped and i presume altering the currency would affect some exchange rate somewhere - either on MA's side or the banks, and no doubt this could prove to be quite a bit of money difference at the end , so im really hoping you guys that have been there before me can help.

Kind regards
Josh

 

[M Rufen Power]

Your bank will exchange the USD currency to £ on the actual day it is commissioned from MA. So whatever the exchange rate is after waiting several months on the withdrawal is what you will get. I don't know about Santander charging for international payments but there might be a small handling fee, not too sure though as I bank with Lloyds Bank but always best to go with bank transfer.

 

[Mega]

Santander is a Spanish bank (since their takeover of the Alliance and Leicester a few years back) so are used to dealing with Euros.

I'd be tempted to look at the alternative option of £ to be honest, but I suspect you'll get your payment whichever option you choose.

 

[Supajosh]

i have no worries about getting the payment , just dont fancy loosing out of some kind of double exchange fee. I will call the bank tomorrow and see what they advise me to do and happliy update the thread for future info. But does anyone know what currency MA send money to your bank in the first place ? are ingame peds in USD then to euros when withdrawn and then into your chosen currency >? or am i now just trying to over complicate what is fairly simple here ?


Perhaps someone has made more than one withdrawal and tested the difference between usd and their home country currency ?

 

[Serica]

From my own experience in making a withdrawal (to an Australian bank):

1. Check with your bank what currency they will accept without the use of an intermediary bank.

MindArk’s bank transfer system does not allow withdrawals to be sent to intermediary banks.

While my bank will happily accept international transfers in any currency, only transfers in AUD will not require the use of an intermediary bank.

2. If you choose to withdraw in a currency other than USD:

The exchange rate is set the day you register your withdrawal. The exchange rate between USD and the currency you chose is taken from the European Central Bank.

The European Central Bank exchange rates can be found here: https://www.ecb.europa.eu/stats/exchange/eurofxref/html/index.en.html
Note that they only display the exchange rate compared to the Euro, not the USD.
A handy site for other exchange rate comparisons is: http://www.xe.com/

 

[Mega]

i have no worries about getting the payment , just dont fancy loosing out of some kind of double exchange fee. I will call the bank tomorrow and see what they advise me to do and happliy update the thread for future info. But does anyone know what currency MA send money to your bank in the first place ? are ingame peds in USD then to euros when withdrawn and then into your chosen currency >? or am i now just trying to over complicate what is fairly simple here ?


Perhaps someone has made more than one withdrawal and tested the difference between usd and their home country currency ?

I did make a withdrawal 7 years ago Supajosh, but I think I just put amount of Ped to withdraw and it all went through. The amount received was pretty much what I expected. If GBP is an option, that is what I would choose in your position, but I dont think it will make much difference if you choose Dollar or Euros. See what the bank says though, that is certainly a good idea. The conversion rate will be what it is in 2.5 months time in any case (Dollars to Pound)