How do eWallets work?

#1 9th August 2009, 4:32 AM

I'm thinking of opening an account with one of the eWallets to make a deposit on Stars for their reload bonus. It looks like it is easy to transfer money from your eWallet and back to it from the poker site.

But can you withdraw your money another way and avoid the 10% (or whatever) fee the eWallet company charges? Or can you just spend any money in your eWallet on something else and thereby get your money out that way?

I've always been able to deposit with my business credit card, but it expired last month and I can't find the new one.

#2 9th August 2009, 6:41 AM

It depends on what eWallet you use. A lot of them are not available to US customers.

My advice would be to use eChecks on Poker Stars. It comes straight out of your checking, and when you want to withdraw, goes straight back in (usually within 48 hours). It does take 10 days for an eCheck deposit to clear on Poker Stars for player-to-player transfers (and I am assuming withdrawal as well), but other than that, the funds you deposit are available instantly to play with.

#3 9th August 2009, 6:46 AM

Will they send withdrawals through eChecks directly to your checking, even if it's more than you deposited (in other words, profits )?

#4 9th August 2009, 6:48 AM

Yes.

If you ever used Neteller before the US ban, it works a lot like that, except with the middle man (Neteller or eWallet) cut out. I highly recommend it.

#5 10th August 2009, 2:12 AM

Quote:

But can you withdraw your money another way and avoid the 10% (or whatever) fee the eWallet company charges?

Im pretty sure most of them dont charge fees for withdrawals , well all of the ones i've used never have, but your bank might charge you a fee.

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