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Question: The 3.5% depositing fee

Zacariaz

Zacariaz

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Marie T'pol
Hi all, I would just like to ask one simple question.

The 3.5% depositing fee, where (in writing) can I find reliable information about it, who actually benefits from it and such?

I've tried looking through a number of documents, searched the net, but at this time it seems my last option is support.

3.5% is potentially a lot of money and if it's true that it goes to a third party, then I'm most certainly going to enquirer further as it, in my opinion, is complete madness.


Best regards.
 
»If You choose to deposit or withdraw funds to or from the Entropia Universe You hereby agree to any costs and fees involved in all fund transfers.«
(From the ToU, see http://legal.entropiauniverse.com/legal/terms-of-use.xml)

As I understand it, there is no general depositing fee of 3.5%. The fees rather depend on the method of depositing. A 3.5% fee incurs with credit card deposits. However, I couldn’t find where this is stated.

If anyone uses, say, Neteller or UKash, could you tell us your fees?

Maybe just ask Support. They should have an answer to that, obviously.

You might be interested in this thread, where this matter is also discussed.
 
GradenFoss said:
»If You choose to deposit or withdraw funds to or from the Entropia Universe You hereby agree to any costs and fees involved in all fund transfers.«
(From the ToU, see http://legal.entropiauniverse.com/legal/terms-of-use.xml)

As I understand it, there is no general depositing fee of 3.5%. The fees rather depend on the method of depositing. A 3.5% fee incurs with credit card deposits. However, I couldn’t find where this is stated.

Maybe just ask Support. They should have an answer to that, obviously.

You also might be interested in this thread.
Click to expand...

I will ask support, but such information should be made readily available never the less, thus I'm asking here first.
 
Zacariaz said:
I will ask support, but such information should be made readily available never the less, thus I'm asking here first.
Click to expand...

Yea, there were times when the »fine print« actually used to be found in the fine print. Now it just gets dumped somewhere in the WorldWideWaste... :dunno:
 
From a real quick google - Merchant Account Fees.

All merchants who accept payment by credit card are charged fees by the payment processor. In most cases, say in shops, the merchant just adds it into the cost of the goods they sell as an overhead.

MA simply deduct it from each creditcard deposit on a 'user-pays' basis, rather than expecting ALL users to be responsible for those costs.
 
All I've used sometimes is bank transfers. There is no fee there in my case, not even from my own bank if I choose European/SEPA transfer.
 
Serica said:
From a real quick google - Merchant Account Fees.

All merchants who accept payment by credit card are charged fees by the payment processor. In most cases, say in shops, the merchant just adds it into the cost of the goods they sell as an overhead.

MA simply deduct it from each creditcard deposit on a 'user-pays' basis, rather than expecting ALL users to be responsible for those costs.
Click to expand...

Yes there are fees all over the place. If I go shopping in Denmark with my credit card, a fee of ~1PED is applied. Sometimes it's pay by the shop, sometimes not.

In regards to those 3.5% it's quite a different story, as the fee is proportional to the amount of money you wish to deposit. So if I wan't to deposit my maximum, which is $3000 atm I think, that is a fee of no less than $105.

Forgetting for the moment that I think that this is no less than ridiculus, I should thin it only reasonable that it is stated clearly who benefits from the money. For all I know I could be paying for arms for terrorists.
 
Last summer a new law was introduced in Sweden to prohibit these fees, but apparently it could be better, I don't know much about this law. http://www.riksdagen.se/webbnav/index.aspx?nid=3911&bet=2010:751 (Swedish)

But from what I can read in the first § this only applies to services charged in Euros and other currencies used by the EES countries.

Anyway, this 3.5% fee really should be stated somewhere!
 
Amber Knightley said:
But from what I can read in the first § this only applies to services charged in Euros and other currencies used by the EES countries.
Click to expand...

Well that explains why I can not deposit in euros now :scratch2:
 
Last edited:
there is only one way of free depositing that i know is certain , thats bank transfer but takes a few day's


payment via credit card does not cost u money in any store on the world.
but stores pay 3,5 % to the credit card compagny.

that is the reason it is not possible to pay with a credit card in every store.
most stores rather sell more items and take the 3,5% loss for granted.
mind ark does not take anything when u deposit but it's just transfer fee from the comagny where the money comes from.

only directly bank to mindark bank transfer is where there are no other comagny's in between.

like the dutch" ideal" method is free but the transfer goes via paynova , paynova keeps a % and not mindark
if it was possible to directly deposit to mindark via ideal the transfer would be free aswell.
and keep in mind when u are not american there is a currency change fee from your own bank to dollars.

hope i helped u on the question,



small amount u can use credit card , but when u deposit like 1000s of dollars at once use bank transfer
 
Sidney said:
there is only one way of free depositing that i know is certain , thats bank transfer but takes a few day's


payment via credit card does not cost u money in any store on the world.
but stores pay 3,5 % to the credit card compagny.

that is the reason it is not possible to pay with a credit card in every store.
most stores rather sell more items and take the 3,5% loss for granted.
mind ark does not take anything when u deposit but it's just transfer fee from the comagny where the money comes from.

only directly bank to mindark bank transfer is where there are no other comagny's in between.

like the dutch" ideal" method is free but the transfer goes via paynova , paynova keeps a % and not mindark
if it was possible to directly deposit to mindark via ideal the transfer would be free aswell.
and keep in mind when u are not american there is a currency change fee from your own bank to dollars.

hope i helped u on the question,



small amount u can use credit card , but when u deposit like 1000s of dollars at once use bank transfer
Click to expand...

Well if that is true I certainly won't be depositing via CC anymore. I don't mind fees, I know that nothing is free, but this is not a fee, it's a tax. The more you want to deposit, the more you have to pay. Wouldn't mind to much if it went to MA, but apparently it don't.
 
Sidney said:
...
payment via credit card does not cost u money in any store on the world.
but stores pay 3,5 % to the credit card compagny.
..
Click to expand...

Just as a minor note, some stores (at least here in Australia) certainly do add a surcharge if you pay by credit card.
 
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