Info: Withdraw option: National currency or USD

Solaris

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Robin Solaris
Here is a little bit of info for you, after testing the ingame Withdraw System from PED to Real Life Banks.

In the Entropia Withdrawal System, wishing to withdraw PEDs to your designated bank account, you are given two options:

1) Transfer the PEDs into your national currency. (MindArk exchanges currency for you)

2) Transfer the PEDs in US$. (Your own bank convert currency if necessary).


I just did my test with 2 x 10.000 PED. One for each option - just to check the conversion differences.
Result came in this weekend, after 56 days of transfer.

Not surprisingly, option #2 gave me approximately 50 US$ more worth my national currency (in my case DKK). This amount equals a 5% difference in the MindArk currency exchange rates, counter the official bank rates. In favor of MindArk.

A small difference may be due to currency influxes in the given 56 day period, but since US$/DKK rates have risen only by 0.6% since February, I think we can rule out the economy crisis.

So heads up to all of you, who do not live in the US and wish to get as much value for your withdrawal as possible. Do not let MindArk exchange your currencies, unless you have even worse banks in your own country.


:girl:Sol
 
Best option is to make new account in USD whatever country national currency you use. Then exchange it in suitable for you moment ( read with best valu USD vs Your Currency)

In some countries ( especialy so called "emerging markets") exchange rates can vary few % even in one day so main problem is that you never know when money from MA will land on your account. It might be anywhere between 10-60 days.

As side note I discovered MA is doing same and sends money when USD/SEK rate is best for them, thats why u never get money after same time and it is simply streched to alow MA such operation.
 
I confirm that letting MA exchange money is day light robbery.

I complained in another thread that I was missing 10 USD for a ~ 5k PED withdrawal. Opened a case, they could not be bothered for 3 weeks to answer, then just forwarded it to another department, who immediately told me they use ECB (European Central Bank) rates, probably one of the worst kind of loan sharks on this planet. For the day in question was the absolute worst exchange rate I could find on internet.

If your bank accepts an incoming payment on a different currency than your account denomination (pls check otherwise they will reject the payment and MA will take a hefty 700 ped fee), then do it!
 
The FAQ for withdrawals states (https://account.entropiauniverse.com/support-faq/deposits-and-withdrawals/withdrawal-faq/):
Which exchange rate do you use?
If the currency selected for your withdrawal is SEK, USD, GBP or EUR, we use the exchange rate of the day when your withdrawal order is registered in our system. If you select other currencies, the exchange rate of the day when your withdrawal order is committed applies. The exchange rate is taken from the European Central Bank.
 
Mmmm that's weird, every time I have withdrawed I just paid like 10 usd to MA. One time I did do a withdrawal and forgot to put it to euros, so I withdrawed in dollars which kinda shocked me whenI received very confusing letter from my bank about somethign regarding it putting a notice out to the authorities and my bank hold the money for about a week or so. So I doublecheck I do withdraw in euros, I never saw anythign out of the ordinariy and I always check the worth of the currency at that particular time. I really am fine with MA taking a 10 usd cut, I guess I would be upset if they would take 50 usd like in the case you described, but again it never happened to me and I have been withdrawing since 2004.
 
I have a bit of question here .
Lets say i start withdraw but lets say i did it by mistake and now i want my peds back...

Last time someting like this happend was 2-3 years before and i waited near 3 days to get em back . Where i can sumbit support case so they can see it fast . Also do they will keep 10$ fee ? Anyone had that experince before pls share :)
 
I have a bit of question here .
Lets say i start withdraw but lets say i did it by mistake and now i want my peds back...

Last time someting like this happend was 2-3 years before and i waited near 3 days to get em back . Where i can sumbit support case so they can see it fast . Also do they will keep 10$ fee ? Anyone had that experince before pls share :)

You can cancel withdrawal by simply sending them support case and there will be no fee.
In case of depositing/withdrawals they response fast. I sent support case at monday 23:00 and got response at 10:00 the next day
 
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