[RESOLVED] Is CampBX a ripoff?

[liralen]

I thought CampBX was a reputable business. I have some btc from my online business and wanted to trade it into USD. I opened an account, the trading went well.

The problem started when the amount of dollars in my account acceded $10,000. Apparently, they have a limit right there due to regulations. My account was frozen. CampBX didn't answer my emails for over a week. All I knew was that I couldn't get to my money and I was increasingly worried that I had been ripped off.

Someone finally did reply. Explained about the $10,000 limit. Said that they removed $2500 and put it aside so that my account was now active again and I could withdraw money. But they didn't explain how to get the $2500 that had been removed.

I emailed over and over, with increasing anxiety yet again. Two weeks later I finally got a reply saying that I should send an email with instructions, and the treasurer would release the funds in whatever way I wanted.

So I send the email as requested, telling them how I wanted my money. That was almost two weeks ago. There has been no reply and my account shows no activity. Nothing. Not in "orders" (where the bulk of my money is) and not in "history" (where I can see the amount of $2500, but can't get to it).

No on replies. No one sends my money.

I even sent all the ID requirements so that my account can be "verified" and all restrictions lifted, on the chance that would help. Nothing. No reply to that either.

The amount in question is about $11,000 total. I can't lose that kind of money!  In the last email I sent yesterday, I have threatened to contact the state attorney general. Still no reply.

I am beyond frustrated at this point. I feel totally ripped off. CampBX is a scam as far as I'm concerned.

Does anyone have any advice? I'm desperate. All I want is my money.

[coqui33]

CampBX has no customer service. I am surprised that anyone there ever replied to you at all. See my review at https://bitcointalk.org/index.php?topic=139737.msg1488226#msg1488226.

For what it's worth my gut-feel is that they are not crooks ... just incompetent. Were I in your shoes, I would file a complaint with the authorities.

[liralen]

Thanks, Coqui. I'll read what you wrote. I'm scrambling to see what problems others have had and what has worked to get money out!

[HighInBC]

Never blame on malice that which can be explained by ignorance, or stupidity.

[rickylford]

Wow.. Glad I saw this thread.

[ThickAsThieves]

I've used campbx for a dozen or so deposits and no issues. Yesterday, they were about  3 or 4 hours slower than  usual, but they pushed it thru as soon as I opened a ticket. I keep all my transactions under  $1000 though...

[tryingtousebitcoins]

I opened an account with them and sent a check for $200 to get started.  The check cleared on 1/17/13 and they still show nothing in my account.

I can't blame that on incompetence.  Would you let your bank handle your money like that?

I've submitted tickets.  When you get the automated response, it says you can track your ticket, and then sends you to a site where you can't.

I can't wait to get my money out of there!

Coinbase is so much easier.  They can automatically withdraw and deposit money to your checking account.

Wishing us all luck.

[ThickAsThieves]

I opened an account with them and sent a check for $200 to get started.  The check cleared on 1/17/13 and they still show nothing in my account.

I can't blame that on incompetence.  Would you let your bank handle your money like that?

I've submitted tickets.  When you get the automated response, it says you can track your ticket, and then sends you to a site where you can't.

I can't wait to get my money out of there!

Coinbase is so much easier.  They can automatically withdraw and deposit money to your checking account.

Wishing us all luck.

When using CampBX, I only fund it from a Dwolla account. You will note that it always takes several days after the ACH has been drawn to show up in Dwolla too.

Mailing a check seems like you are asking for delays. These things take time, this is not MasterCard you are dealing with.

[tryingtousebitcoins]

I understand that, but they've had my money since January 17.  Even if they have a retired grandmother in the office, part time, handling deposits, it should be in my account.

Given the fluxation of the price of bitcoins, if I send a check and get funded a month later, who knows what I'll get.

Coinbase takes the money immediately via ACH, and gives you bitcoins a few days later.

Just reporting my experience.  An you can see I'm in the newbie section....

But the bitcoin service with prompt customer service will win in the end.  I'm betting on services like coinbase....

[liralen]

The part that really irks me is that I tested CampBX first with a small amount--$600--and it went fine! I did the trade, they sent my money, and all in a timely manner. That was what made me decide they were legit.

I have no way to access my money. None, zip, zero. They are sitting on it, keeping it, refusing to reply. Feel free to learn from my mistake.

[tryingtousebitcoins]

Still nothing in my account; still no response to my multiple tickets.

I'm sending demand letter to the registered agent of the company.

Bulbul Investments LLC
Attn: Keyur Mithawala
23109 Deer Trail
Alpharetta, GA  30004

[tobandan]

Monitoring

[ThickAsThieves]

It took them about 14 hours to clear my most recent Dwolla deposit (this was after I submitted a ticket). They say Dwolla deposits should only take 6 hours.

Maybe they have an influx of transactions they can't keep up with?

[thezerg]

I opened an account with them and sent a check for $200 to get started.  The check cleared on 1/17/13 and they still show nothing in my account.

I can't blame that on incompetence.  Would you let your bank handle your money like that?

I've submitted tickets.  When you get the automated response, it says you can track your ticket, and then sends you to a site where you can't.

I can't wait to get my money out of there!

Coinbase is so much easier.  They can automatically withdraw and deposit money to your checking account.

Wishing us all luck.

I've been using campBX for 8 months now with no issue.  But they do not have a large revenue business like mt gox so I think you'll just need to be understanding about delays in customer support. 

Just a guess: as a new user, they are probably sitting on the cash to make sure the check isn't a forgery.  Did you validate your account?  Remember, once they send you your bitcoins the $ is gone and if the check is forged, they get hit with the clawback.

Still in a market like the last 2 weeks, it would be nice if they let you trade the bitcoins but didn't let you take them out of their system (until the check is verified)...

[Ellis]

Well they are very slow and Keyur had this** to say in an interview but yet no phone number is available to contact them and they are not responding to my tickets.




**
However, users aren’t the same as exchanges. Mithawala said an exchange has to be transparent, visible and credible: it has to be backed by people you can name and phone numbers you can call.

I believe my funds will be 'unlocked' but the delay is plain wrong at this point.


This is a quote from an interview found here:

http://www.theregister.co.uk/2011/07/10/camp_bx_goes_live/

[lilbit]

I just put money in bx, this is the first place that I've read something bad about them, I hope I don't get scammed.  I will be watching this post for updates.  good luck liralen!

[Keyur @ Camp BX]

I thought CampBX was a reputable business. I have some btc from my online business and wanted to trade it into USD. I opened an account, the trading went well.

The problem started when the amount of dollars in my account acceded $10,000. Apparently, they have a limit right there due to regulations. My account was frozen. CampBX didn't answer my emails for over a week. All I knew was that I couldn't get to my money and I was increasingly worried that I had been ripped off.

Someone finally did reply. Explained about the $10,000 limit. Said that they removed $2500 and put it aside so that my account was now active again and I could withdraw money. But they didn't explain how to get the $2500 that had been removed.

I emailed over and over, with increasing anxiety yet again. Two weeks later I finally got a reply saying that I should send an email with instructions, and the treasurer would release the funds in whatever way I wanted.

So I send the email as requested, telling them how I wanted my money. That was almost two weeks ago. There has been no reply and my account shows no activity. Nothing. Not in "orders" (where the bulk of my money is) and not in "history" (where I can see the amount of $2500, but can't get to it).

No on replies. No one sends my money.

I even sent all the ID requirements so that my account can be "verified" and all restrictions lifted, on the chance that would help. Nothing. No reply to that either.

The amount in question is about $11,000 total. I can't lose that kind of money!  In the last email I sent yesterday, I have threatened to contact the state attorney general. Still no reply.

I am beyond frustrated at this point. I feel totally ripped off. CampBX is a scam as far as I'm concerned.

Does anyone have any advice? I'm desperate. All I want is my money.

Dear Liralen,
     I checked in with our treasure and looks like your issue was resolved.
Your issue took her longer time to address because of two issues:

(1) Your account crossed the compliance limit.  Once you cross this limit, we have to follow a process outlined by our compliance provider.  I know of Bitcoin websites in Russia that give  you all clear in 20 minutes after you send them your ID, but USA rules and regulations are very different.

(2) Paper withdrawals through USPS Money Orders are inherently slower.  If there is an issue with USPS you have to allow for 3-4 weeks for trace mails and money order serial numbers.
If you use electronic withdrawal methods like ACH / Wire / Dwolla, we can address those tickets much faster.

Hope this helps you understand our situation better.

Thank you,
     Keyur

[pcrsweetness]

so many of these bitcoin companies are shady...it definitely turns me off to the whole deal.

[Trek52]

I use Campbx all the time and have never had any trouble with them.   I do about 4-5 transactions per week for over 5000 dollars and have never had to wait more then 6-7 hrs for it to be processed. I'm sorry some of you have been having trouble but with all the customers they have, it's definitely not a trend for them to be late. I had one issue and sent them a ticket and it was resolved immediately. I just wanted to give my opinion.

[BitcoinAshley]

I sent in a money order a week and a half ago and it has not been credited yet, IIRC their website says 2-3 days for a money order to be credited once received. I'm not sure what the problem is, CampBX... I sent a support ticket and of course it hasn't been responded to yet. I suppose I'll check my email AGAIN. At least change the stated wait time for crediting money orders so as not to mislead people...

I thought they'd be a nice replacement for Bitfloor but it looks like not. I hate to give them a "one strike you're out" policy but based on BTC exchange crap I've dealt with in past, I just don't want to deal with even a hint of incompetence. I'll have to look elsewhere or deal in OTC only.

Just my personal review, I am aware others have had positive experiences.