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February 11, 2014, 07:40:22 PM |
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On February 5th, 2014 Bitpay deducted over 50,000 MXN from my account (around $4,000 USD)
to be deposited to my bank in Mexico by EFT (Wire transfer).
As of today, the wire transfer has neither been initiated or completed.
Bitpay told me last night that there was an issue with their bank no longer being able to make international
wire transfers.
Since I have already been waiting 6 days, I asked Bitpay to just refund my BTC.
This request appears to have fallen on deaf ears as they abruptly stopped replying to my requests after this.
Just letting everyone know something is not right here. Bitpay says they settle everyday but this has not been my experience.
For the past couple of months there have been numerous reports from various USA banks stating after a certain date
they would no longer allow outgoing international wire transfers. This is front page global news so it is both shocking and
somewhat hard to believe that this has apparently caught Bitpay by surprise. If what they are saying is true, then they
are the only people who did not know about these new laws and they were not prepared at all to deal with them going into
effect.
Even more distressing is that Bitpay clearly has no plan in place to return one's BTC promptly if they are unable to
complete a wire transfer. I have been waiting 6 days and now they don't even reply to me.
If any of you receive international wire transfers from Bitpay be advised that they are not making the wire transfers
and the worst part is that after they deduct the funds from your Bitpay account to make the wire transfer, your money
is just lost or in limbo as they are not acting quickly to rectify the situation by returning your BTC if requested.
It may be a good idea for international Bitpay accounts to make sure your settlement settings are for 100% to go
to your Bitcoin account to check and see if they actually are still at least paying that out daily as advertised.
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