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Question: Withdrawals in different currencies

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Rattler Llama

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Rattler Llama Simpsons
Hi Forum,

Does any1 have experience picking another currency than USD?

I'm adressing the non-US citizens here, and what considerations were taking before hand.

Could be gambling on FX-rates to go up or down vs the USD, or just to avoid bank giving bad rates when exchanging currency from USD to local, when you picked the USD withdrawal.

In Danish, and have the options to pick DKK, and I estimate that Norwegians and Swedes are in the same boat as me :)
 
Always do in euros.
 
Rattler Llama said:
Thanks - Could you elaborate?
Click to expand...

I mean I always withdraw in euros as my commonlife currency is euros.
Plus once I did us$ by mistake and troubled occurred, lost quite some time to solve the issue with MA and my bank.
 
Liu said:
I mean I always withdraw in euros as my commonlife currency is euros.
Plus once I did us$ by mistake and troubled occurred, lost quite some time to solve the issue with MA and my bank.
Click to expand...

Aight, good to know. Well my commonlife currency is in DKK, but it's fixed towards EUR anways. Just don't want additional added fee from USD->EUR->DKK
 
Rattler Llama said:
Aight, good to know. Well my commonlife currency is in DKK, but it's fixed towards EUR anways. Just don't want additional added fee from USD->EUR->DKK
Click to expand...

Then open and usd account on your local bank so you don't pay extra fees on auto conversion and when you receive the transfer from MIndark then create an additional free revolut account because they have the best exchange on most currencies and most likely than any bank.
 
messi91 said:
Then open and usd account on your local bank so you don't pay extra fees on auto conversion and when you receive the transfer from MIndark then create an additional free revolut account because they have the best exchange on most currencies and most likely than any bank.
Click to expand...

That could work as well, however a lot of effort and I believe my bank will charge a fee for having USD accounts.

Any intel on the currency rates that MA use themselves?
 
Rattler Llama said:
That could work as well, however a lot of effort and I believe my bank will charge a fee for having USD accounts.

Any intel on the currency rates that MA use themselves?
Click to expand...

ING bank charges me 2$/month for just maintaining having an extra bank account attached to my local one.That is far better than having them to auto exchange the usd I am getting from Mindark into local currency at their rates vs Revolut.
 
messi91 said:
ING bank charges me 2$/month for just maintaining having an extra bank account attached to my local one.That is far better than having them to auto exchange the usd I am getting from Mindark into local currency at their rates vs Revolut.
Click to expand...

Well, Mindark has the option to pay in my local currency, so I will not face bank rates from USD to DKK, but Mindarks own rate.
I need to know if the Mindark FX Rate is fair, because I know for sure my bank is not. And I don't need a USD bank account for future withdrawals.
 
Rattler Llama said:
Well, Mindark has the option to pay in my local currency, so I will not face bank rates from USD to DKK, but Mindarks own rate.
I need to know if the Mindark FX Rate is fair, because I know for sure my bank is not. And I don't need a USD bank account for future withdrawals.
Click to expand...

I had same question some years ago and did test on 2 same sized withdrawls.
It was either 40+40k or 20+20k, but the difference were around 400-600 NOK if i remember right.

What I learned to get less fee, is to get the NOK, DKK in your case instead of letting MA send u USD as that USD is based on some Central bank rate. Then again sent to your bank as USD with extra fee when changed to DKK.

:)
 
TheRock said:
I had same question some years ago and did test on 2 same sized withdrawls.
It was either 40+40k or 20+20k, but the difference were around 400-600 NOK if i remember right.

What I learned to get less fee, is to get the NOK, DKK in your case instead of letting MA send u USD as that USD is based on some Central bank rate. Then again sent to your bank as USD with extra fee when changed to DKK.

:)
Click to expand...

Thanks a lot man! Useful answer :)
 
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