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Author Topic: New to bitcoin* How long does it take to transfer from mtgox to euro bank?  (Read 4505 times)
zpinto
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May 07, 2011, 02:52:11 PM
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Hi!
Im new to this bitcoin thing. I gathered a few btc and exchanged ti for 20$. I sent it yesterday, through mtgox.com, to my euro bank account.
How long does it take? Sorry if this isnt the right place, but i didnt find a forum for mtgox.com and i now most people use that website.

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m4rkiz
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May 07, 2011, 03:39:19 PM
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i received my payments in 2 business days
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May 07, 2011, 09:50:45 PM
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2-3 days  Smiley

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May 07, 2011, 10:31:53 PM
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Sometimes I seem to receive payments the following day, other times it takes a bit longer.

Depositing I am not sure, because the only time I did it was on a friday, but the money was at Mt.gox the following monday.
Melvin132
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May 07, 2011, 11:01:51 PM
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I did a transfer the 5th about 16.55 pm local time (Sweden) and i had the money available the day after. Was a very happy surprise as i thought it would take at least 4-5 days.
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May 08, 2011, 06:05:19 PM
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Did your receiving bank account for some additional fee for that incoming transaction?

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Melvin132
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May 08, 2011, 08:09:38 PM
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I had to pay about 1.5$ in fee for the transaction, but that may vary depending on which bank you use.
MagicalTux
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May 08, 2011, 10:49:56 PM
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Transaction is sent as a standard euro transfer (SEPA). Most euro countries will receive those for free (your bank is not allowed to charge you more to receive our transfer than the price you'd pay if you received the same transfer from the same country).

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May 09, 2011, 04:47:00 AM
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The fee could have been for converting it from euro to krona (the Swedish currency)
I'm not quite sure
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May 12, 2011, 12:36:03 AM
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The banks usually give you a non optimum conversion price. But that's common practice. It is always slightly over the market price.
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May 12, 2011, 08:33:47 AM
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The fee could have been for converting it from euro to krona (the Swedish currency)
I'm not quite sure

May I ask what bank you have? Swedbank?
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May 12, 2011, 09:59:01 AM
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Who is the 2% fee for for Euro transfer ? MtGox or the Bank ?

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MagicalTux
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May 13, 2011, 03:55:01 AM
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Who is the 2% fee for for Euro transfer ? MtGox or the Bank ?

The 2% fee is mostly for the bank. A small part is reserved for the guy in France who keeps filling customs declarations everyday.

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May 23, 2011, 09:14:38 PM
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May I ask what bank you have? Swedbank?

Yes, I do use Swedbank.
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May 24, 2011, 10:21:53 AM
 #15

Very likely was currency conversion loss.

My bank has around 5 cent spread on EUR/USD, which is quite a bit and should be in the dimension of the loss you experienced. This is normal.

Wire time is as posted, 2-3 day stops usually, you do need to put all your address details apparently.

MTGox  /  Magicaltux, given that we've had 2 threads pop up within 10 days, maybe just add this to the FAQ?

Ho-Hum.
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