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Another "how long to withdraw" thread :D

I withdrew too late :( Instead of getting a nice £7000 all I got was £5000 because the $ dropped like a stone against the £ grrrrr Cant rem how long mine took even with a cash card I never expect to get my side of EU (Wot we in the UK call a "RIP OFF!")

Once bitten an all that.

Hope you get a fair return Pinky hon :)


P.S. I lied about the amounts but the % was true (snigger)

The only RL crap I got was a free poster, CD, DVD and a perpetual error 72 generating gold card ffs
 
Xeno said:
I withdrew too late :( Instead of getting a nice £7000 all I got was £5000 because the $ dropped like a stone against the £ grrrrr Cant rem how long mine took even with a cash card I never expect to get my side of EU (Wot we in the UK call a "RIP OFF!")

Once bitten an all that.

Hope you get a fair return Pinky hon :)


P.S. I lied about the amounts but the % was true (snigger)

The only RL crap I got was a free poster, CD, DVD and a perpetual error 72 generating gold card ffs
Click to expand...

How long ago did you receive the withdrawal? Yesterday $1.61 to the £1 which is a favourable rate for UK players.
 
At the begining of last summer, I have withdrawed ~11000PED and it tooks ~7days to get the money into my bank account.
 
Mega said:
How long ago did you receive the withdrawal? Yesterday $1.61 to the £1 which is a favourable rate for UK players.
Click to expand...

This was about a year ago, the rate dropped from 0.7 to 0.5 when I needed to withdraw, ho hum, sods law.
 
Loads of great info here guys and gals. Great resource for everyone!

20k aint exactly selling out, well for most ppl I think ;)

The IBAN and BIC tells someone exactly where ur account is in the world. Giving the account number is like me (UK) telling someone I live in 1 Big House, The Long Road, Taunton, to someone in the states. First off there's a Taunton in the states making the address ambiguous.

IBAN - International Bank Account Number
BIC - Bank Identification Code

Wikipedia has some usful info on these, and links to validators for your numbers, so you can be sure no mistake is made. My bank shows the both codes on the monthly statement in tiny print :yay: Thanks for the heads-up Pinky.

Xeno said:
perpetual error 72 generating gold card ffs
Click to expand...
Mine was doing that for the longest time, I was sliding the card in gingerly and everything :D fixed the problem by sliding the card in the wrong way (the edge with no chip contacts on either side) several times, this 'cleared the mechanism' though I still don't get why sliding it in normally wouldn't have done the same.
 
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Commodore said:
Mine was doing that for the longest time, I was sliding the card in gingerly and everything :D fixed the problem by sliding the card in the wrong way (the edge with no chip contacts on either side) several times, this 'cleared the mechanism' though I still don't get why sliding it in normally wouldn't have done the same.
Click to expand...

Will give that a go ta :)

BTW I used to live in Taunton !!!
 
Mega said:
How long ago did you receive the withdrawal? Yesterday $1.61 to the £1 which is a favourable rate for UK players.
Click to expand...

You havent been watching the news today have you :D

The UK economy growth figures were published and for the first time in 16 years the economy shrunk - if it shrinks twice in two consecutive quarters, the UK is officially in a recession. On this news the £ crashs yet again (second time this week) and is now sat at $1.57...


WOOT!!!!

Excellent news for withdrawers bad news for depositors :D
 
PINKY said:
You havent been watching the news today have you :D

The UK economy growth figures were published and for the first time in 16 years the economy shrunk - if it shrinks twice in two consecutive quarters, the UK is officially in a recession. On this news the £ crashs yet again (second time this week) and is now sat at $1.57...


WOOT!!!!

Excellent news for withdrawers bad news for depositors :D
Click to expand...

You're right not seen it today, Governor of Bank of England and Prime Minister have used the "R" word this week though, but yes its pretty much a fact the UK is in recession. Anyway no politics talk so $1.57 is indeed good for us.

As I am likely to beat you now, I'll let you you know when I received my 4th October withdrawal. :)
 
Xeno said:
Will give that a go ta :)

BTW I used to live in Taunton !!!
Click to expand...

:beerchug: I used to live in Devon (Brixham) :D

Ye, bad time also for ppl trying to sell items in-game, who only want to liquidate for in-game finances :rolleyes:

All items in my shop are good prices, and also have rare items for sale *cough* purple pants *cough*, but buyers are hard to find. That's distressing, cos my shop sells everything from kobold to estates. Few weeks back I get 15 sales a week, now I'm lucky to get 5. Money is still around, it's not that ppl are poor. I still get querys over rare items and weapons considered big ticket items for medium player, but ppl spend freely less atm.

Dunno why ur grabbing cash now, the £/$ is likely to get alot nicer in a years time I think :) Our economics are different to states, our govt. backs good debt, not taking on bad. If we survive at all with this strategy then we do very well. Alternative is it goes to hell for us, for not securing bad debt, but then UK player has more worries than peds in EU ;)
 
Commodore said:
Dunno why ur grabbing cash now, the £/$ is likely to get alot nicer in a years time I think :) Our economics are different to states, our govt. backs good debt, not taking on bad. If we survive at all with this strategy then we do very well. Alternative is it goes to hell for us, for not securing bad debt, but then UK player has more worries than peds in EU ;)
Click to expand...

http://www.allcapecod.com/shoptillchristmas.cfm

:)
 
AHAHAHAHAHAH :cussing:

I freak out if I hear anything about Christmas The Capitalist Spending Frenzy, anything before the 2nd week of December :laugh:

Lump of Coal anyone?
 
I'll join in on the race!

To celebrate the start of my 6th year in EU I withdrew 40K ped :yay:
 
I hope you don't mind Pinky, but thought I'd update your thread with current information as my withdrawal came through today. :)

I actioned it on 4th October (a Saturday) and it arrived on 28th October.

So that is 23 days or 16 Working Days.

I'm very impressed by that. :thumbup:

The rate I was paid at was $1.70 to £1 (after the 1.5% withdrawal fee), which is less favourable than today's rate of $1.55, but still better than it was a few months ago.
 
Mega said:
I hope you don't mind Pinky, but thought I'd update your thread with current information as my withdrawal came through today. :)

I actioned it on 4th October (a Saturday) and it arrived on 28th October.

So that is 23 days or 16 Working Days.

I'm very impressed by that. :thumbup:

The rate I was paid at was $1.70 to £1 (after the 1.5% withdrawal fee), which is less favourable than today's rate of $1.55, but still better than it was a few months ago.
Click to expand...

TBH I think thats a shockingly bad exchange rate - MA are seriously creaming off a lot of our money if thats the rate they use. I will have to wait and see I guess, but if I get a rate as bad as that I will complain.

Support have been very helpful (as they dont set the exchange rate i guess), and they have confirmed the date they are using is the 17th (when i did it in game) despite all the cock-ups so I figure mine should come through soon too!
 
PINKY said:
Excellent news for withdrawers bad news for depositors :D
Click to expand...

Tell me about it :(

Aussie dollar down to 60c atm, will go down to 55c within 3 months easily.
Was at 98c initially, so now my deposits are cut in half, though my withdrawls have doubled.

Too bad I am not withdrawing anything in the next 5+ yrs.

~ Sparkz
 
PINKY said:
TBH I think thats a shockingly bad exchange rate - MA are seriously creaming off a lot of our money if thats the rate they use. I will have to wait and see I guess, but if I get a rate as bad as that I will complain.

Support have been very helpful (as they dont set the exchange rate i guess), and they have confirmed the date they are using is the 17th (when i did it in game) despite all the cock-ups so I figure mine should come through soon too!
Click to expand...

I've asked for clarification via a support case, so will let you know what the reason is when I get a response.

Working out the difference on your withdrawal size, its over £100 less.
 
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Mega said:
I've asked for clarification via a support case, so will let you know what the reason is when I get a response.

Working out the difference on your withdrawal size, its over £100 less.
Click to expand...

Cool,will be interested to hear what they say about it..
 
Just to note, I sent a support request about UK withdrawals. And it should be noted that depending on how you submit your bank details you may get different currencies.

If you submit, IBAN number and Swift/BIC codes then the money will be sent as Euros. If you submit your standard UK based details (Bank Account Number and Sort Code) then it will be sent to you in Pound Sterling. If you want it in US$, sent to you, then you have to open a support request after you have done the withdrawal.

The exchange rate is set at the rate on the day the money is sent and is taken from the European Central Bank.

The problem with the above scenario, is that if you withdraw 10,000PEDs then Mindark will convert that US$1000 into the relevant number of Euros based on their Banks exchange rate.

Those Euros are then sent to you and then your own bank will do the conversion to Sterling and probably charge a few pounds (Think my bank charges £7), because you are receiving an international payment.

You're almost better (and its something I've decided to do) to open a Foreign Currency account with your bank, whether Dollars or Euros. And transferring the money over to that. Then you can control your exchange rate risk much better, especially if as many pundits are saying that the £ might go down to £1.30 and perhaps the same with the Euro.
 
Aziphirael said:
Just to note, I sent a support request about UK withdrawals. And it should be noted that depending on how you submit your bank details you may get different currencies.

If you submit, IBAN number and Swift/BIC codes then the money will be sent as Euros. If you submit your standard UK based details (Bank Account Number and Sort Code) then it will be sent to you in Pound Sterling. If you want it in US$, sent to you, then you have to open a support request after you have done the withdrawal.

The exchange rate is set at the rate on the day the money is sent and is taken from the European Central Bank.

The problem with the above scenario, is that if you withdraw 10,000PEDs then Mindark will convert that US$1000 into the relevant number of Euros based on their Banks exchange rate.

Those Euros are then sent to you and then your own bank will do the conversion to Sterling and probably charge a few pounds (Think my bank charges £7), because you are receiving an international payment.

You're almost better (and its something I've decided to do) to open a Foreign Currency account with your bank, whether Dollars or Euros. And transferring the money over to that. Then you can control your exchange rate risk much better, especially if as many pundits are saying that the £ might go down to £1.30 and perhaps the same with the Euro.
Click to expand...

Interesting information there, so I'll see if Mindark put something to that effect in my support case.

I did notice that my Sort Code and Account Number are both contained within my IBAN though.
 
Ok I have had a quick reply:

29 Oct 2008 Entropia Support:
Hi,
We use the exchange rate of the day when the payment is sent to your bank account. The exchange rate is taken from the European Central Bank. Have a nice day.

Kind regards,
Entropia Support


Using this website to look up historic exchange rates:

http://www.x-rates.com/cgi-bin/hlookup.cgi

06/10/08 1.738
07/10/08 1.7592
08/10/08 1.731
09/10/08 1.7225
10/10/08 1.7037
13/10/08 1.7037
14/10/08 1.7482
15/10/08 1.7432
16/10/08 1.7243
17/10/08 1.7307
20/10/08 1.7134
21/10/08 1.6837
22/10/08 1.6174
23/10/08 1.6181
24/10/08 1.5845
27/10/08 1.5472

Then $1.703 to the £1 looks pretty fair, the rate didn't improve on this until 21st October. :)
 
Aziphirael said:
Just to note, I sent a support request about UK withdrawals. And it should be noted that depending on how you submit your bank details you may get different currencies.

If you submit, IBAN number and Swift/BIC codes then the money will be sent as Euros. If you submit your standard UK based details (Bank Account Number and Sort Code) then it will be sent to you in Pound Sterling. If you want it in US$, sent to you, then you have to open a support request after you have done the withdrawal.

The exchange rate is set at the rate on the day the money is sent and is taken from the European Central Bank.

The problem with the above scenario, is that if you withdraw 10,000PEDs then Mindark will convert that US$1000 into the relevant number of Euros based on their Banks exchange rate.

Those Euros are then sent to you and then your own bank will do the conversion to Sterling and probably charge a few pounds (Think my bank charges £7), because you are receiving an international payment.

You're almost better (and its something I've decided to do) to open a Foreign Currency account with your bank, whether Dollars or Euros. And transferring the money over to that. Then you can control your exchange rate risk much better, especially if as many pundits are saying that the £ might go down to £1.30 and perhaps the same with the Euro.
Click to expand...

I asked them to do it a £ which they said can do for a small fee, so I assume its just as bad both ways :D


Good ifo Mega, thx for that!! Looks like my rate might be a little more favourable (with any luck!)
 
i'll be making my first withdrawal soon, wanting it in time for the End of January...

subscribes..
 
I withdrew some peds on the weekend of 11th/12th of october, cant remember which day eaxactly, but had an email from mindark on thursday just gone, 30th, telling me i had an incorrect IBAN number, have changed it now, so hopefully it shouldnt be too long till i recieve my 'peds'. If i had entered the correct IBAN number originally, i assume my withdrawal process time would have been 18 days approx.

Obviously this is alot quicker than the advertised 90 days :yay:

Skate
 
Just curious......never had enough peds to try out a withdrawl, but what kind of information do you have to provide?

What's all these:
IBAN number , Swift/BIC codes and Sort Code thingy? Where can we find them? From our local banks? :yay:
 
sawachika said:
Just curious......never had enough peds to try out a withdrawl, but what kind of information do you have to provide?

What's all these:
IBAN number , Swift/BIC codes and Sort Code thingy? Where can we find them? From our local banks? :yay:
Click to expand...

Basically they are your account number with a bit extra on the front.
The Bank you have your account with has an ID, as it were, for international banking.
So the IBAN number, which i think stands for 'International Banking Account Number' is the id of your particular bank followed by the sort code and then your account number. (Thats how mine was anyway). The information can be found on your bank statement apparently, but again thats what i was told, it may vary for diff banks/countries.
The Swift/BIC code, is the ID of your bank on the international scene.

Well thats the jist of what i got told from my bank anyway. If if isnt displayed on ya statement then just go in to your bank and get the information, thats what i did.

Skate :)
 
A little update from me. My bank sent me a letter yesterday with more details of the transaction.

Turns out I was paid in Euros and not Dollars into my bank.

Pound to the Euro historically was:

20/10/08 1.28692
21/10/08 1.28507
22/10/08 1.26015
23/10/08 1.25648
24/10/08 1.25188
27/10/08 1.24313

My bank says the exchange rate that it used on 27/10/08 was 1.27479, commission was £0.00, overseas bank charge was £0.00.

So its PED -> $ -> € -> £ for UK players!
 
So, you haven't gotten yer money then yet?

If not, I would seriously expect it this week. Mindark has been great about the times of withdrawls lately.

~D
 
The last 2 withdrawals I've made were conducted within a week of each other at the beginning of October. I received them both before the 31st (one on the 24th and the other on the 31st).

I'd say that's pretty quick ... roughly 3 weeks each.
 
OMG so many threads about withdrawals ! :O The sky is aaahhhhhhhhhh
 
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