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Where does PED go when I deposit? (Video)

Discussion in 'Deposits and Withdrawals' started by Uncle Mo, Apr 5, 2012.

  1. Uncle Mo

    Uncle Mo Active Member

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  2. avalon

    avalon Member

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    Nice Video Uncle Mo...
    BTW If you are looking to sale your ores then check out my service...
    http://rychmon.com

    Avalon Rychmon...
     
  3. KMax

    KMax Well-Known Member Pro Users

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    Nice video + rep again

    Also I was under the understanding that the fee charged when depositing is to cover transaction costs. I know some deposit options cost way more to use then others and it all comes out of your PED value when depositing. So it is not a fixed 3.5% deposit fee that is just for CC deposits, bank drafts are much more spendy. Also some types of deposits cost money on players side to even happen and then PED is also taken out because MA has to cover the charge they get on their side. I have done both CC and bank account deposit and will never do the bank account deposit route again, way to slow and costs almost twice the value and was a hassle with the bank to setup the transfer of funds. Also you have to pay for transaction costs to take your PED out of the game and it all is deducted from your PED value prior to the transaction then your bank or CC company may charge you another fee for that transaction as well. I do not believe MA makes any profit off deposits or transactions but makes all profits from decay and sales in game.

    Others can correct me if I am wrong here on any of this but pretty sure this is the way it is from the thousands of post I read about how it all works and MA officials stating a few times how it works as well.

    As for the rest of the video, good info, impressed you keep that detailed of records, I started doing that then said heck with it, if I have extra cash what is the diff if I toss it in here or go to store and toss it on a game there. That cash all gets spent somewhere on foolishness, but at least here I have a chance at that mega jackpot :p
     
  4. Cyborg Bill

    Cyborg Bill Well-Known Member Pro Users

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    Good video again...
    I kinda caught you a few times mentioning getting your money back out. Dont be so excited just yet my friend. The cost to sell out is far more painful then the depositing side. It starts withthe cost of the empty skill chips you will need to buy at near 600 to 650% now days...Thank god they are not still at 900% when I started. Add to that 10% skill loss after extraction...Then the MA fee's and the banking fees you get whacked with to get your peds out after you have gone thru the pain to extracting skills and selling off gear.

    After all that is done you think you can rub yer grubby paws in anticipation of getting your money...This is MA guess again. They will GLADLY take your ped in a matter of micro seconds when you wish to depo..In fact its so fast I believe the ping from here to there is cut in half when you open that vaccume chamber in the deposit screen. Anyway that speed is turned to months to get your money back IF and only IF MA does not decide to screw you over and pull back that withdrawl bangin you 700 ped more to do so.. to recheck the info about who you are. Make sure ALL of your info is spot on before attempting a withdrawl.. they are like starved hounds gaurding a steak when it comes to letting go of YOUR money. Expect a minimum of 30 days at best and upwards of 4 to 6 months if they trap you in the "Prove who you are loop" (also be aware of any taxes where you live when you take this money out.. whether you claim it or not that is your choice)

    As far as the track record you are keeping know this...EU looks great til you start hitting levels where you unlock more skills..This is when they slide you from the kiddie pool and in with the sharks. Your bell rining will slow to almost non existant. The bad periods will grow longer and longer and the good periods shorter and shorter.. By this point if you regularly deposit they will have you trapped because at that point you realise what you have invested and cant walk away empty handed. Save ALL of the ped you may think is profit now as it will be needed later to cover down periods. (It may look good on paper but profit really isnt profit until what you have in your hands is worth more then what you put into the game including time and effort)

    Lastly I will say this...Just because MA SAYS you are 100% skilled to use something most DEFINATLY does NOT mean you are proficiant by any way shape or form. If you have played other mmo's its best to play EU like you max at level 100 to keep a reality check on where you really stand in game and what to expect back for your level.
     
  5. rick_janson

    rick_janson Well-Known Member Pro Users

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    To add to K-Max, credit card fees reduce the effective exchange rate from 10:1 to 9.65:1 or 9.653:1 (I have seen this a couple times). So you're missing about $0.45 per $10 deposit. A $50 deposit misses $1.75. Also, MasterCard charges you an additional 1% for international charges. That's on top of anything your bank may charge. I've used my PayPal debit MasterCard to deposit on occasion (usually use my Visa Debit from my bank), so yeah, I know. :p
     
  6. Jenny ferr

    Jenny ferr Well-Known Member Pro Users

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    Mindark don't have a bank themselves they use a normal bank, if that's what you thought (seen this misconception many times since they acquired the license for one, which was put on hold)
     
  7. Cyborg Bill

    Cyborg Bill Well-Known Member Pro Users

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    didnt MA annouce they let that licence go for financial reasons and were not seeking to renew it? Thought I saw that announced on PCF last year.
     
  8. Jenny ferr

    Jenny ferr Well-Known Member Pro Users

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    Could be they let it go instead of putting it on hold and the reason to whatever they did was financial, the important part is they do not have their own bank as I seen several times people seem to believe
     
  9. Neil

    Neil Adviser Pro Users Arkadia Adviser

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    There are also several in-game "banks" on Calypso (pawn shops) which adds to the confusion about Mindark and banking.
     
  10. Uncle Mo

    Uncle Mo Active Member

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    I will try to make this distinction from now on. The main point I want to make is that financial transactions with Mindark are considered perfectly legal in the USA unlike say...online poker rooms.
     
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  11. Cyborg Bill

    Cyborg Bill Well-Known Member Pro Users

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    Currently the US looks at a deposit into EU as online shopping.. Should they investigate the use of the bought ped and how it functions in game that could easily change the view about what EU is. Somehow MA convinced someone or a committee of someones EU is along the lines of online shopping but stuff like that is easily done wining and dining the right people. They are after all only politicians and lawyers.
     

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