You might want to read this.... Wiki's not on EU's side

[Wollongong]

I vote for Hurri (as resident wordsmith and published author) to re-write the entry

hear, hear.

 

[Shadowsong]

How to profit from a long withdrawal process (internal use only) :

A) If US$ exchange rate is presently trending down
1. Withdrawal is requested - sell US$ at market rate.
2. Observe market until exchange rate moves in your favour - purchase US$ at cheaper rate
3. Issue withdrawal US$ - retain excess US$ purchased.

B) If US$ exchange rate is presently trending up
1. Withdrawal is requested - buy US$ at market rate.
2. Observe market until exchange rate moves in your favour - sell US$ at higher rate
3. Issue withdrawal US$ - retain trade currency profit from sale of US$.

*Cautionary notes:
i. Retain deposits in US$ denominations as US$ - stock-in-trade
ii. The market can remain irrational longer than you can remain liquid.
iii. This post is speculative layman interpretation, and should not be considered "financial advice".

 

[Serica]

How to profit from a long withdrawal process (internal use only) :
....

And yet their financials last year (see page 13) show exchange rate losses of 247 454 SEK (about 38K USD), so they're not holding on to the funds just to profit on arbitrage. As about 1/2 their net sales (deposits less withdrawals) comes from Europe, keeping funds only in USD isn't a solution.

 

[Shadowsong]

And yet their financials last year (see page 13) show exchange rate losses of 247 454 SEK (about 38K USD), so they're not holding on to the funds just to profit on arbitrage. As about 1/2 their net sales (deposits less withdrawals) comes from Europe, keeping funds only in USD isn't a solution.

Fair enough. One way or another, I do believe there is a profit motivation behind the delay. Born-again cynic, what can I say?

 

[Hurrikane]

I'd say a better description of EU would be something like;
"Due to the implementation of a Real Cash Economy, players can deposit to invest in their character; the more business-minded among them might even find themselves able to turn a profit of some kind, while the rest can console themselves with merely playing the game, and the occasional satisfaction of a decent loot now and then. The onus is on the participant to control their spending, as there is really no upper limit on what can be bought in-game; those who spend recklessly will invariably find little return on their investment, and while a precise and frugal approach is undeniably more sensible, any approach to playing a game with a Real Cash Economy is subject to the same vagaries as economies that operate in real life, and no guarantee of profit can be assumed. The likelihood of profit was somewhat mis-represented in discussion and promotion of EU in the past, but most players are aware of the true nature of the game and play within their chosen budget; "waiting for the win." EU could be seen as a type of gambling although most would agree that far more variety of experience and interaction is offered in the many virtual worlds of EU than in any real-life casino, and alternative modes of play (to chasing a good ROI) are possible. Overall EU is extremely similar to it's peers in the MMORPG genre, an expansive and well-drawn sci-fi sandbox with huge potential on many levels, and unlike most, offers the player the chance to win real cash in return for their self-governed 'playing fees' rather than paying a subscription and playing for no monetary reward."

Hurrikane

 

[Casay]

I think JimmyB would be great or Serica... think the best though might be McCormick.. (I know.. I probably spelled it wrong again) Anyway, at least it would be full of humor Would love to see the history and videos etc on WIKI.

 

[DoubleWolf]

Interest income only amounted to some 79k SEK (about 12k USD) according to last year's financials (see page 13), so a relatively trivial (though doubtless useful) part of their income stream.

I'd say the heart of the issue revolves around cash flow forecasting

This would be it. Withdrawals for next month will be paid out from the cash received as deposits this month. Withdrawals are held as an accrual until the end of the period, at which time the cash to close that accrual are distributed. The fluctuations in time that occur are likely due to the amount of deposits received in a given month, the order in which withdrawals are requested, the amount of those withdrawals, and the desire for MA to maintain a positive cash flow in this area of their business.

 

[Torschen]

Less than 40 days for me, when I did a withdraw just to test it.

 

[Xerra]

This is mainly because Wiki is not a fact site contrary to belief, anyone can edit wiki pages. Even if you are not working for MA you can go edit the wiki page on them, you would have to keep tabs on your own page and keep updating the wiki page to stop things like this.
I agree that you should go into Wiki and give it a make over that is more beneficial to MA. I am a new player I hope to keep seeing more new players. I personally am really enjoying my experiences, although I can not say one way or the other on with drawls yet I have not made one so far =D

 

[Wollongong]

This is mainly because Wiki is not a fact site contrary to belief, anyone can edit wiki pages. Even if you are not working for MA you can go edit the wiki page on them, you would have to keep tabs on your own page and keep updating the wiki page to stop things like this.
I agree that you should go into Wiki and give it a make over that is more beneficial to MA. I am a new player I hope to keep seeing more new players. I personally am really enjoying my experiences, although I can not say one way or the other on with drawls yet I have not made one so far =D

I disagree. No need to make it more beneficial to MA. Make it more truthful. That way, it will scare off a lot fewer people than it does now, and might even pull in some more.

The description used to be true though...not anymore.

 

[Razer]

OK gave it a little go and the first thing I did was red flagged and returned to the way it was. Did it again, because I did not know what was going on and got a message that if I did it again I would be banned (not with those words, but the idea was clear). Then I tried to upload a picture of the gold card and gold card reader I made myself, which took about 20 minutes to do.

So, even though I do a lot of wiki work on ep.com I have decided that the 'official' wiki is not something I wanna spend my time on adding data.

 

[wizz]

... i dont really understand why it takes so long..

Cuz they want to check how you came about that money.

They first want to make sure you didn't get it with cheating and scamming.


But isn't it so that only the first withdrawl takes that long?
(I don't know because I only made 1 withdrawl and that took about 5 weeks)

 

[jaywalker]

I note Sweden also has Anti-Money Laundering legislation which MindArk may be legally obliged to comply with.

I'm sure this is the case.

Please consider, guys: EU offers the ideal environment for money-laundering and credit card fraud. Laws or no laws, MA would be crazy not to carefully police that. I'm not saying that's the only cause of delays, but there will definitely be delays if they continue to so. Do we need that withdrawal money so urgently that we'll be happy to let the game be overrun with fraudsters, just so long as we can get our hands on it fast?

But this is really off-topic.


Ther point isthat withdrawals are not a major issue anyway. Deposits pay for the game just as subscriptions pay for other games, so if we all made a profit and withdraw, game would go bust.

The game needs to be advertised as a game, not a money-making opprtunity, or else you only attract the wrong sort of people: people who will be deeply disappointed and bitter when they don;t make profit. The problem with that Wiki article is that it appears to emanate from one such person, and to be so biased towards the money-making aspect that it ignores virtually everything else about the game

jay

 

[jaywalker]

Oh! btw there is a reason for the 1000 PED minimum withdrawal . It is this: The International Banks charged 70 USD (700 PED), last i checked , if the payment fails to go through on account of a mistake in the details you provide. Therefore the withdwal needs to exceed this amount.

This is beyond MA's control and applies equally to other businesses ofc. So it does not need saying specifically in in relation to EU, and should not be said in this context, as it gives a false impression. This is supposed to be an article on gaming not on International banking!

jay

 

[John.FreeLancer]

Oh! btw there is a reason for the 1000 PED minimum withdrawal . It is this: The International Banks charged 70 USD (700 PED), last i checked , if the payment fails to go through on account of a mistake in the details you provide. Therefore the withdwal needs to exceed this amount.

This is beyond MA's control and applies equally to other businesses ofc. So it does not need saying specifically in in relation to EU, and should not be said in this context, as it gives a false impression. This is supposed to be an article on gaming not on International banking!

jay

PayPal...just like Diablo 3 works.

 

[jaywalker]

PayPal...just like Diablo 3 works.

Are you saying that MA now offer withdrawals via Pay Pal? Interesting development if so. last I knew, they needed your bank account details, as a guard against fraud etc (see my preceding post)

jay