|
Title: MtGox SEPA Transfers Post by: MagicalTux on July 12, 2011, 04:56:34 AM Since a lot of people are wondering about the SEPA transfers, let me clarify a few things on how things were, and how things will be.
Deposits (until now) Deposits were handled by the previous bank in "realtime" within the limit of 100k€ per day (could arrive anytime from 10 to 18). If we receive more deposits in the same day the bank has to confirm manually each deposit and hates us for it. The bank's CSV exports and API provide no useful information that would help us recognize a deposit the next time we download the CSV, or identify two deposits of the same amount from the same individual. Amounts deposited in non-euros are converted to euro by the bank at rate of 0.5% with a minimum of 13.xx€, plus a 15.xx€ handling fee and another 5€ fee for manual processing of fees. All funds deposited are subject of a 0.02% fee taken by the bank (movement fee) that we cover on withdraw, makes those free. Withdraws (until now) Withdraws are processed by the bank automatically for up to 10k€ per day. Any withdraws done after reaching 10k€ in the same day are processed manually by the bank which hates us for that. Sometimes some withdraws are lost when the bank process them, so we check automatically the bank statement to make sure the funds were sent. If not we'll try again automatically. Status (until now) The only way to get the status of a specific withdraw or deposit is by asking the support. We could do that in the site, except we have more urgent stuff in progress. It's starting to reach the top of the queue and should be done soon. So, now, our French bank has decided that having 2 employees dedicated to click buttons for us was too much work, and is kicking us out. Thanks to French laws we cannot not have a bank account, and will have a new bank assigned automatically as soon as we are kicked out so we can open a new account the same day. The "Banque de France" employee strongly suggested we open a bank account to a more banking-friendly country such as Luxembourg or Switzerland, which we are already doing (takes more time than buying groceries) as most French banks will not be really happy handling such a large amount of transactions (and are mostly not ready for this). Our plans for the future: Deposits Still free, at least once a day. May not be possible to do in realtime because the new bank may have higher security standards. Withdraws Withdraws must be processed next day. We may have some extra delays while we change the bank however we will process those faster then. Until we can get an API at the new bank, our representative in France will be manually inputting each withdraw request on the new bank. Status Checking your account history will show a "Details" link for withdraws. Clicking this link will open a page with the withdraw status and details on when it was sent to the bank/etc. Thanks to the limits we had at the current bank we already started looking into alternatives and things are moving. Getting us kicked out will force us to put more priority on a new system for SEPA transfers, that will involve a more bank-friendly country. More details will be posted as soon as the new info are available (we may even open more than one bank account to do some load balancing and prevent a similar problem from happening again). Title: Re: MtGox SEPA Transfers Post by: zby on July 12, 2011, 06:27:13 AM Thanks for the update - I was starting to think that the reason you ignore inquiries or cite bogus reasons for withholding withdrawals is because you don't really have funds for them after the hack.
Withdraws Withdraws must be processed next day. We may have some extra delays while we change the bank however we will process those faster then. Until we can get an API at the new bank, our representative in France will be manually inputting each withdraw request on the new bank. Status Checking your account history will show a "Details" link for withdraws. Clicking this link will open a page with the withdraw status and details on when it was sent to the bank/etc. When you write 'will' - this means a new UI version? Because now I don't see such link at the withdrawals records in the account history (in USD). Title: Re: MtGox SEPA Transfers Post by: Seraphim401 on July 12, 2011, 11:20:14 AM Thanks for the update.
Title: Re: MtGox SEPA Transfers Post by: Cdecker on July 12, 2011, 11:53:14 AM Uh, that's good news, I'd love a Swiss Bank since it allows both SEPA and Swiss Bank withdrawals :-)
Title: Re: MtGox SEPA Transfers Post by: kokjo on July 12, 2011, 11:55:46 AM +1
Title: Re: MtGox SEPA Transfers Post by: ottodv on July 12, 2011, 12:15:05 PM Quote (we may even open more than one bank account to do some load balancing and prevent a similar problem from happening again) If you open more than one account, you should open them in different countries. Title: Re: MtGox SEPA Transfers Post by: ctoon6 on July 12, 2011, 12:21:36 PM ill be glad if/when this bs does not need to happen anymore.
Title: Re: MtGox SEPA Transfers Post by: MagicalTux on July 12, 2011, 12:28:48 PM When you write 'will' - this means a new UI version? Because now I don't see such link at the withdrawals records in the account history (in USD). It is not highest priority, but is still important as it'll reduce the number of emails we receive on the support. Title: Re: MtGox SEPA Transfers Post by: kokjo on July 12, 2011, 12:39:58 PM When you write 'will' - this means a new UI version? Because now I don't see such link at the withdrawals records in the account history (in USD). It is not highest priority, but is still important as it'll reduce the number of emails we receive on the support. Title: Re: MtGox SEPA Transfers Post by: George Carmack on July 12, 2011, 01:57:28 PM Hi,
did you ever consider building up a solid business? If yes, have a look at the solutions http://www.swift.com/ (http://www.swift.com/) software offers. BR GC |