Betonline withdrawal fees: 23%

[zikko]

wire on Betonline.
I requested $698.
My bank fees: $47. Betonline fees: $50. Their Bulgarian bank fees:$60
Total fees: $157=23% !
I specify that $50 friday discount was applied. So my total fees are "only" $107.
But I also specify that my deposit fees were 7%.
A+ book ??

[Optional]

wire withdrawal on Betonline. I requested $698.
My bank fees: $47. Betonline fees: $50. Their Bulgarian bank fees:$60
Total fees: $157=23% !
I specify that $50 friday discount was applied. So my total fees are "only" $107.
But I also specify that my deposit fees were 7%.
A+ book ??

Their bank charges no fee to you.

$47 from your bank is a ridiculous fee and Ive never heard of one that large for receiving a wire. Is it really a fee or are you calculating the loss you made in exchange rate premium? As that is also a cost when taking international wires?

There is often also an intermediary bank fee, I assume that this is the Bulgarian bank you mention. But again a $60 intermediary fee is ridiculously high too.

Maybe your country's banking system is different or more difficult than most and therefore the high fees?

If you choose to ask for a wire to a foreign bank then it's up to you to know about and deal with these fees which are in no way levied or collected or profited on by the book.

I hate the way international transfers cost so much too. It's a huge ripoff and parasite on international commerce when the same action can be completed by bitcoin for near zero cost, but no use being mad at any book for it.

[masachi]

Betonline offer one free withdraw per month.
Why you didnt use it ?

[Legions36]

Their bank charges no fee to you.

$47 from your bank is a ridiculous fee and Ive never heard of one that large for receiving a wire. Is it really a fee or are you calculating the loss you made in exchange rate premium? As that is also a cost when taking international wires?

There is often also an intermediary bank fee, I assume that this is the Bulgarian bank you mention. But again a $60 intermediary fee is ridiculously high too.

Maybe your country's banking system is different or more difficult than most and therefore the high fees?

If you choose to ask for a wire to a foreign bank then it's up to you to know about and deal with these fees which are in no way levied or collected or profited on by the book.

I hate the way international transfers cost so much too. It's a huge ripoff and parasite on international commerce when the same action can be completed by bitcoin for near zero cost, but no use being mad at any book for it.

I like how u made sure put in Bitcoin which costs near zero. For some reason I don't get why some of your A+ and B rated books seems to charge these fees for bitcoins.
Betonline is the worst one out of all of them, I will break it down for you, 6.5% Bitcoin deposit fee then also they usually have about $2 per Bitcoin less than they r worth compared to most exchanges at time of deposit. To withdraw they also charge 2% in fees, but on Friday once a month they give u a break on something free anyways.
When u ask about the fees they always say "processor fees" when u know it's bs.
SBR also claims and pushes bitcoins for customers to use because almost no fees but, SBRs top rated books feel the need to charge these Bitcoin fake "processing fees". Bet online isn't the only one but there r the most arrogant about charging a Bitcoin fee from the others.
I do love this book but they made it to not even be able to deposit with Bitcoins for me, so it's pointless to have Bitcoins at this book.

[Optional]

Betonline offer one free withdraw per month.
Why you didnt use it ?

He did. He said they waived the $50 wire fee.

Betonline actually charged him nothing. All the costs came from the shitty traditional international banking system.

[Optional]

@Legions... don't get why a deposit fee on anything personally eitehr but in the case of BOL some posters act like they are bad simply because they are the most upfront about it. Not sure how that can be called arrogance. Seems a bit more like arrogance to tell them how they should run their business to me. If you don't like it, don't use it. Many others like the book as it is. But anyway, BOL offer a perpetual reload bonus to 'cover' these fees and also offer a free monthly withdrawal, so apples against apples they are actually pretty good fee wise.

[zikko]

No choice: they do not offer Neteller or Skrill for my country.
My bank fees: $23.5 (repatriation) and $23.5 ( € exchange).
And yes, their intermediary bulgarian bank: $60
I agree with you: the whole system is rotten.
But personally, I see just this: for a $698 withdrawal, I have recovered only $591.
My loss is $107 and without $50 discount, it would have been a loss of $157 ! 23% !!
Add the deposit fees, their bonus is far from covering all these costs.
As you said, it is ridiculous.

[Optional]

I usually lose around $75 on a $1000 wire, so that is kind of high. Think that intermediary bank is rorting with that $60. Usually more like $15 for most of them.

[zikko]

Think that intermediary bank is rorting with that $60.

Yes, for my first $2500 withdrawal, their intermediary bank was from Honk-Kong and the fees was shared ("only" $30 for me).
But for this withdrawal, all the fees are for me.
Why a bulgarian bank ? Strange...

[Legions36]

@Legions... don't get why a deposit fee on anything personally eitehr but in the case of BOL some posters act like they are bad simply because they are the most upfront about it. Not sure how that can be called arrogance. Seems a bit more like arrogance to tell them how they should run their business to me. If you don't like it, don't use it. Many others like the book as it is. But anyway, BOL offer a perpetual reload bonus to 'cover' these fees and also offer a free monthly withdrawal, so apples against apples they are actually pretty good fee wise.

Then tell SBR not so say in the updates that the good books who use Bitcoins have minimal fees, I have read those updates on the sides threads that SBR tries to say.
I don't use Bitcoins to deposit anymore at Betonline because of 6.5% fee and the average $2 per Bitcoin less than any exchange at time of deposit. If u don't believe me go try to make a deposit and see the difference.
Also they aren't that upfront about it, unless u know to go and check some other pages on their website there is no way to know about this 6.5% fee until after it happens. Misteriously they do have this fee posted for other deposit methods they have right in the cashier, except for Bitcoin.
I also did say I "still love Betonline" but I do think they r messed up to do this. Also just because they give this perpetual bonus it has nothing to do with these whacked out fees, but u let these places run u.

[Optional]

Yes, for my first $2500 withdrawal, their intermediary bank was from Honk-Kong and the fees was shared ("only" $30 for me).
But for this withdrawal, all the fees are for me.
Why a bulgarian bank ? Strange...

I don't know everything about the system but I've never heard of an intermediary fee being able to be shared. The bank it goes through, and the fee charged, is kind of random and just depends on routing capacity at the moment it is transmitted and which banks that your own bank holds agreements with.

If it were me I would email my bank and complain about that Bulgarian fee. If enough people do they will drop their agreement with them or might even agree with you and refund part of that fee themselves.

Although even a $30 fee sounds high to me, so maybe it is generally higher to your country than mine and others I know about.

[RonPaul2008]

wire on Betonline.
I requested $698.
My bank fees: $47. Betonline fees: $50. Their Bulgarian bank fees:$60
Total fees: $157=23% !
I specify that $50 friday discount was applied. So my total fees are "only" $107.
But I also specify that my deposit fees were 7%.
A+ book ??

Wires are not meant for that low of an amount and it's cheaper if you request a larger amount. They have a methods that cost less then the $50 discount once per month...should be free to withdraw unless they don't have those options for bulgarians.