Bitcoin Forum

What is the best? I've used MT.GOX back when it was a simple Australian to Australian bank account transfer.

What are your experiences with each exchange site.

it's still low volume and you sometimes have to wait a long time for a good rate, but i've found www.worldbitcoinexchange.com to be the simplest for AUD transfers.

Please be aware that Mt.Gox will soon be re-opening an Australian bank account, which will allow our Australian customers to carry out transactions between their account and an Australian bank account once again. We apologize for the suddenness with which we lost the ability to carry out Australian transfers, our partner in Australia, Technocash, quite unexpectedly froze our account with them without any prior communication.

We will be going with a new partner in the future to ensure something similar does not happen again.

what about funds that are currently tied up in technocash? (via mtgox withdrawal for instance)?

Hello payb.tc,

As per the Mt.Gox Support Desk site,

Any funds deposited or withdrawn using Technocash over the past week are currently being held by Technocash. They have stipulated that they will hold these funds until all fraud claims submitted to them have been processed, at which point they will release the remaining funds not used to pay out fraud victims to Mt.Gox. We will then complete the transfer which you originally requested.

Please be aware that Technocash has yet to give us a timeframe for this fraud claim process to complete.

We sincerely apologize for this extremely unfortunate change in circumstances, and would advise all customers who have recently made a Technocash deposit to urgently contact their bank and cancel the transfer.

As Mt.Gox was not made aware of the account closures until they occurred, we have been unable to take any action to safeguard users' funds at this time.

As we are yet to make any progress with Technocash, and they are still processing fraud claims submitted to them, we still don't have a timeframe for when we will be able to release those funds to our users.

We sincerely apologize for this, Technocash gave us no warning at all that they were planning on freezing the account.

It's worth pointing out that if Mtgox is unhappy with how Technocash resolves this issue, they can take the dispute to the Financial Ombudsman Service.  That's the external dispute resolution scheme to which Technocash submits as part of its Australian Financial Services Licence.