Currency fluctuations / Neteller

I've just checked my Neteller statement - I deposited $200 for Pacific on October 25th, and withdrew $200 from same site on November 3rd. £115.33 was taken from my account, but only £110.42 was returned. I did currency conversion today which shows that $200 today = £114.79, so why did I only get £110.42 3 days ago?

Seems obvious that either Pacific or Neteller are using different rates in and out. Who is it that is ripping me off? (that relates to 4.25% charge!).

Neither are ripping you off, it's the damn changes in conversion rates that are annoying for us!

I spend a lot of money on paypal and I'm constantly getting money changed from £ (my bank account) to $ by paypal. The rates that they give me vary greatly day-to-day. Best bet is to just wait for the conversion rate to benifit you and then change up a large amount and leave it there.

I dont think the currency fluctuated to that extent, in fact I know it didn't. I've looked through all of my Neteller history - I tend to deposit, build up roll (hopefully) and withdraw initial deposit leaving me to play with profit. On all 4 occassion i've done this, I've had less paid in then i'd taken out. I think that the sites are scamming with the converstion rates they use (one rate in, one rate out).

That's true with any place that exchanges currency, one way they'll give you a decent rate, the other way will benifit them hugely.

It's a computerised transaction - you're not buying hard currency from the post-office are you? They should use the same exchange rate in and out, i didn't realise just how much i've lost in these transactions. One of the sites sent me a cheque in dollars for some reason, and when I put it in bank I got less than half the amount in pounds that it was in dollars, due to bank charge.

I presume Ladbrokes / Betfair / William Hill use pounds - i think i'll check these ones out (and i'm going to email Pacific to see whether what you said was true).

I cash dollar cheques quite regularly, and my bank usually charges me £10-15 as well as taking 30 days. £15 can be as much as $30 so that can cripple you if you're cheque is only around $100 or so.