Bitcoin Forum

I tried to send BTC to my wallet and MtGox said my "request was over the maximum authorized for my level of authorization." Has anybody else got this? what is my level of authorization?
 

$1000 in value/day.

MagicalTux may be able to raise your limit if you ask nicely and don't live under draconian laws.

Okay, thank you. I can live with that.

$1000/ day will be like 0.9 BTC in a few months!

I sure hope you're right.  I'd love to pay off my student loans instead of making payments that are 2/3 interest, 1/3 principle.

I just paid off my student loans last year and I went to school during the George H.W. Bush administration.

Did anyone notice that new registered users don't even have transfer funds option at all?
or is it just me?

Yes, same problem here. This seems to be different thing than the $1000 daily limit, because I've gotten this message for several days in row now.

Emailed info@mtgox.com 2 days ago but no reply so far.

how much money/BTC were you trying to move?

you're only going to be able to move like 70BTC at these prices right now unless you email them first

In my case all attempts to withdraw are being denied, regardless of the sum (the minimum I tried was 1 BTC I think).

hey guys. can you do transfers inside mtgox system??
My major account can, while others can't.

I hit this limit as well.

The main issue at hand is MagicalTux is spread thin for time.  And he appears to have not only a $1k/day limit, but some sort of monthly or other periodic limit that doesn't tell you what it is.  He acknowledged a monthly limit in a later e-mail to me but didn't say what it was.

MagicalTux lifted this for me (as well as bumped me somewhat past the $1k/day) when I sent him a PDF file containing a scan of my government-issued photo ID and a signed letter certifying it as a true and correct copy and also requesting that the limits be lifted.  It probably didn't hurt that I am able to digitally sign PDF's, a privilege I had to pay for.

He is likely just doing his best to cover his ass.  If you provide him everything he could possibly want and minimize the possibility he will have to come back to you with "no, this is not good enough", you're likely to see the best results.

To protect myself from document interception, I used password encryption on the file attachment, and included the password as a PGP-encrypted message block in the body.  I got his PGP public key from pgp.mit.edu, key ID 3C89C25F, or here: http://pgp.mit.edu:11371/pks/lookup?op=get&search=0x1C797C313C89C25F

I've sent him the scan of my ID three weeks ago and still no answer from him.  I even tried to call the mtgox company and I managed to leave a message on their answering machine. This is really frustrating.  When was the last time that anyone got the limit lifted?  Are they really so busy - or maybe they are selective with who is allowed this privilege.

The second limit is $10,000 a month to comply with money laundering regulations (for a non-licensed money exchanger).

Hopefully he will clarify this policy quickly, because if they don't, it's going to put a huge hamper on his business, when people discover - and start complaining loudly in droves - that their money is "stuck" there!

what address did you send that email to?

i sent a request today to aml@mtgox.com and got a response and increased limit just about 15minutes later.

you need to activate Merchant Services in your account settings.

I'm sure mtgox wouldn't mind competition if you think you can do it better.  All you need is Dwolla and bitcoin apis and some email support staff.  More exchanges with USD volume would be more resilient.

Hmm.. I resent my request yesterday to aml@mtgox.com, too, but still no reply. Now I'm really getting worried..

Unless you wanted to move your funds to the competition  >:(

I need to report that the limits were eventually lifted for my account (not entirely cancelled though).

Same for me too... not entirely cancelled, but lifted high enough so as to rarely be an obstacle for the volume I intend to do.

No such luck here -- withdrawing does not work nor have I received a reply.

Update: got reply from Mark explaining the limits, so the ball is back in my court again.

Usually transfers are done in a timely fashion, but the exchange is growing fast, so I believe it is not too easy to keep up with all the requests, so sometimes people may experience delays before their issues are fixed. I think we just need to be patient. :)

This is really frustrating though. Essentially it means you can't get your money. Makes me worried and it is limiting the business in my case.

The posts here are helpful and now I do understand that this is not a big ass organization, but more like a bunch of guys wanting to create something? And with that comes the lack of time.

I suppose I'll try to put together a nicer package including some bank statements on my name as well to see if that helps.

I would be nice though if we had some guidelines about the requirements and how to make it easy and fast.

Just for the record, I have got a reply too and my limits have been increased.  :)