MtGox withdrawal delays [Gathering]

[joesmoe2012]

Gox local JP withdrawals may now also be delayed.   Where as my previous withdrawals to a local Japanese account were 1 day.  My last withdrawal is now going into day 5 with no sign of being deposited into my account.  This one particular withdrawal is only a few thousand dollars.   Lets see how long this takes.

Interesting. I wonder if the 1 payment per 20 days rule applies to japanese as well.

[Zibbo]

To contrast some reports that SEPA transfers are now fast, I just yesterday received a 1000€ SEPA withdrawal that I made on May 8th 2013 (so almost 4 months). Previous payment I received was on Aug 14th for a withdrawal made just day before on May 7th (also 1000€). I have 2 more 1000€ withdrawals pending made on May 10th and May 14th.

Since apparently some people are receiving SEPA withdrawals with minimal waiting, the claim that Mt. Gox is working on a "queue" is quite laughable from my perspective. My theory is that everybody receives "something" every few weeks in effort to calm people down.

[sturle]

To contrast some reports that SEPA transfers are now fast, I just yesterday received a 1000€ SEPA withdrawal that I made on May 8th 2013 (so almost 4 months). Previous payment I received was on Aug 14th for a withdrawal made just day before on May 7th (also 1000€). I have 2 more 1000€ withdrawals pending made on May 10th and May 14th.

This is exactly as expected and explained earlier in the thread.  To give all users a fair chance to withdraw, your next withdrawals will go to the long queue when one is processed.  Currently this long queue is about 10 business days (depends on the queue size for new withdrawals).  In order to get your money faster, you should cancel the two 1k withdrawals you have left, and make one withdrawal of 2k.

[sturle]

Gox local JP withdrawals may now also be delayed.   Where as my previous withdrawals to a local Japanese account were 1 day.  My last withdrawal is now going into day 5 with no sign of being deposited into my account.  This one particular withdrawal is only a few thousand dollars.   Lets see how long this takes.

Interesting.  I know there have been delays earlier due to very high JPY withdrawal volume.  I suspect this is due to MtGox having to move money from their deposits in other currencies to a JPY account before being able to process more withdrawals, and this may (or may not) take a few days depending on how MtGox have placed their money.  You could try asking in #mtgox or ask support directly.

[AceCoin]

To contrast some reports that SEPA transfers are now fast, I just yesterday received a 1000€ SEPA withdrawal that I made on May 8th 2013 (so almost 4 months). Previous payment I received was on Aug 14th for a withdrawal made just day before on May 7th (also 1000€). I have 2 more 1000€ withdrawals pending made on May 10th and May 14th.

Since apparently some people are receiving SEPA withdrawals with minimal waiting, the claim that Mt. Gox is working on a "queue" is quite laughable from my perspective. My theory is that everybody receives "something" every few weeks in effort to calm people down.

yes but the queue is not of their bank, that MUST process a sepa in 1 working day by european law...

is MTGOX'S database queue based on the bank limits. If they know that the bank can do, for example, every day 10 sepa or 10.000 euro and not more, So you ask for a sepa, your request stay on their database N days, and so when they ask to the bank, the bank do this sepa in 1 working day as must be by law.  

In this way they can say "WE DO SEPA TRANSFER"!!! but you have to wait 1/2 months  

[joesmoe2012]

      Received SEPA yesterday from mid july. Small-ish one.   

[Serpens66]

@ sturle:
what about your withdraw? ^^  How long it should take before u made ur own counterexample?

[dlasher]

Still have International wire to US outstanding from June 25th.. Yes June 25th.. heading towards (3) months since transfer was requested..

I, like many others, have open support tickets, but keep getting the "we're sorry, please wait longer" response. Here's the response I got on 8/30.

Thank you for your waiting and your patience. We are sorry to inform you that we do have updates only as informed through earlier mails and we are not able to provide an ETA on any transactions.

Since we are clearing many pending withdrawals by increasing the transaction speed we do hope that your withdrawals will also be cleared soon without much of the waiting.

Best regards,

Mt.Gox Team

The cynic in me is starting to believe they just don't have the cash, and are waiting to get enough.. .panic causing insolvency. Mid July I bought coin (at a loss) and pulled all my money out (except my outstanding transfers) that way. I don't trust Gox any more.

[sturle]

@ sturle:
what about your withdraw? ^^  How long it should take before u made ur own counterexample?

Long story short: There was a problem with it, so the first attempt failed.  The next attempt got in the long queue because it became the second attempt in less than 10 days.

It should go out tomorrow.

[NewLiberty]

Like a bank run... a self fulfilling prophesy.

[zwanzig20]

To contrast some reports that SEPA transfers are now fast, I just yesterday received a 1000€ SEPA withdrawal that I made on May 8th 2013 (so almost 4 months). Previous payment I received was on Aug 14th for a withdrawal made just day before on May 7th (also 1000€). I have 2 more 1000€ withdrawals pending made on May 10th and May 14th.

Since apparently some people are receiving SEPA withdrawals with minimal waiting, the claim that Mt. Gox is working on a "queue" is quite laughable from my perspective. My theory is that everybody receives "something" every few weeks in effort to calm people down.

I think you are right, I got 1 out of 4 payments from August. What status do peoples withdrawals get stuck on?

[sturle]

Since apparently some people are receiving SEPA withdrawals with minimal waiting, the claim that Mt. Gox is working on a "queue" is quite laughable from my perspective. My theory is that everybody receives "something" every few weeks in effort to calm people down.

I think you are right, I got 1 out of 4 payments from August. What status do peoples withdrawals get stuck on?

Do you have a counter-example to this? (Days are business days.)  I've noticed one claim of delayed JPY domestic transfer as well.

https://bitcointalk.org/index.php?topic=179586.msg3024749#msg3024749

[zwanzig20]

Since apparently some people are receiving SEPA withdrawals with minimal waiting, the claim that Mt. Gox is working on a "queue" is quite laughable from my perspective. My theory is that everybody receives "something" every few weeks in effort to calm people down.

I think you are right, I got 1 out of 4 payments from August. What status do peoples withdrawals get stuck on?

Do you have a counter-example to this? (Days are business days.)  I've noticed one claim of delayed JPY domestic transfer as well.

https://bitcointalk.org/index.php?topic=179586.msg3024749#msg3024749

It depends, you wrote this:

 smaller than 1000 EUR will get in a priority queue and used to fill the daily quota
larger than 1000 EUR, up to 30000 EUR are processed in FIFO order

Do you count exactly 1000 as above or smaller as 1000 row?
And from which date do you count the 10 business days? From the day you received it? On of my orders was around 93 but still didn't get through eventough 10 business days had passed since receiving the first order.

[sturle]

I think you are right, I got 1 out of 4 payments from August. What status do peoples withdrawals get stuck on?

Do you have a counter-example to this? (Days are business days.)  I've noticed one claim of delayed JPY domestic transfer as well.

https://bitcointalk.org/index.php?topic=179586.msg3024749#msg3024749

It depends, you wrote this:

 smaller than 1000 EUR will get in a priority queue and used to fill the daily quota
larger than 1000 EUR, up to 30000 EUR are processed in FIFO order

Do you count exactly 1000 as above or smaller as 1000 row?
And from which date do you count the 10 business days? From the day you received it? On of my orders was around 93 but still didn't get through eventough 10 business days had passed since receiving the first order.

I don't know if the limit is <= 1000 or < 1000.  The 10 business days are counted from the date your last payment was completed.  Unfortunately cancelling seems to count as completed as well.  10 days is variable.  It depends on the current queue, and used to be higher.

[sturle]

Update on Local JP Bank account withdrawal.   Going into day 7 with no money in sight.  Day 3 with no reply from support as to what there average withdrawal in Japan has gone up to, and no response from their "Banking" department on when the money is expected to transfer.   My transfer before this one was 1 business day.  So something has changed.

Have you heard of other people having the same problem?  This is the only report I have seen recently about delayed JPY domestic transfer.  What is the status of the transfer?  Confirmed or pending?

In other news: My SEPA withdrawal went pending today.  Expect to have the money tomorrow.  Will buy BTC (most likely from a private seller to save time and fees), sell again on MtGox and hopefully make 10%.

[zwanzig20]

I think you are right, I got 1 out of 4 payments from August. What status do peoples withdrawals get stuck on?

Do you have a counter-example to this? (Days are business days.)  I've noticed one claim of delayed JPY domestic transfer as well.

https://bitcointalk.org/index.php?topic=179586.msg3024749#msg3024749

It depends, you wrote this:

 smaller than 1000 EUR will get in a priority queue and used to fill the daily quota
larger than 1000 EUR, up to 30000 EUR are processed in FIFO order

Do you count exactly 1000 as above or smaller as 1000 row?
And from which date do you count the 10 business days? From the day you received it? On of my orders was around 93 but still didn't get through eventough 10 business days had passed since receiving the first order.

I don't know if the limit is <= 1000 or < 1000.  The 10 business days are counted from the date your last payment was completed.  Unfortunately cancelling seems to count as completed as well.  10 days is variable.  It depends on the current queue, and used to be higher.

Ok thanks, well it seems your description is pretty accurate then.

[Jouke]

Welp. Besides all the fiat problems, they also have a problem with BTC withdrawals... They spend Coinbase transactions with only 6 confirmation...

(coinbase transactions are unspendable in the first 120 blocks)

[AceCoin]

Welp. Besides all the fiat problems, they also have a problem with BTC withdrawals... They spend Coinbase transactions with only 6 confirmation...

(coinbase transactions are unspendable in the first 120 blocks)

so how much time it takes a BTC withdrawal?

[Savior]

Anybody know what an expected time would be for the validation of a new withdrawal method?

Been two days now since I added one.

[Jouke]

Welp. Besides all the fiat problems, they also have a problem with BTC withdrawals... They spend Coinbase transactions with only 6 confirmation...

(coinbase transactions are unspendable in the first 120 blocks)

so how much time it takes a BTC withdrawal?

It depends on luck, but if you are unlucky, it may take over a day.