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Author Topic: MtGox withdrawal delays [Gathering]  (Read 857226 times)
bnjmnkent
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September 22, 2013, 12:46:12 PM
 #1521

2013-09-05: 10³ EUR; Status: confirmed; Type: SEPA withdrawal
2013-09-10: 10³ EUR; Status: confirmed; Type: SEPA withdrawal

I'd love to conduct further business with Mt.Gox, but it is difficult,
if money does not flow. Under these circumstances, I have trouble
investing more.
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zeta1
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September 22, 2013, 01:19:40 PM
 #1522

2013-09-05: 10³ EUR; Status: confirmed; Type: SEPA withdrawal
2013-09-10: 10³ EUR; Status: confirmed; Type: SEPA withdrawal

I'd love to conduct further business with Mt.Gox, but it is difficult,
if money does not flow. Under these circumstances, I have trouble
investing more.

You will need to wait untill it gets to pending
sturle
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September 22, 2013, 01:20:40 PM
 #1523

2013-09-05: 10³ EUR; Status: confirmed; Type: SEPA withdrawal
2013-09-10: 10³ EUR; Status: confirmed; Type: SEPA withdrawal

I'd love to conduct further business with Mt.Gox, but it is difficult,
if money does not flow. Under these circumstances, I have trouble
investing more.
It takes minimum 20 business days between each processed withdrawal.  A problem much discussed in this thread.  It is due to a very low daily limit in their bank in Poland.

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
bnjmnkent
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September 22, 2013, 02:20:49 PM
 #1524

Sure, but not even the first came through. A pity, as these
have just been test withdrawals, for deciding if I re-invest
in the near future using Mt.Gox.

I hope they make progress on this front very soon, as imho
they are still the most credible exchange.
isimme
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September 22, 2013, 05:29:33 PM
 #1525

I haven't seen a check since the 80ies, except one.  Got one in return from some USSAnian scammer company.  I was told by my bank I had to travel to USSA to cash it in.  Would you be happy if you got a check which you had to travel to Japan to cash in?  Probably cheaper to take the 5% option.
Sturle, you  keep mentioning this 5% emergency withdrawal option, but not a single person on this site has been able to provide any evidence for it. Further, if such an option existed, it would currently be quite profitable as the spread between other sites and Mtgox is over 5%.
See previous pages of this thread for first hand reports of emergency withdrawals.

I have. The only person I have seen mentioning it really is you. Show people how to get one of these supposed emergency withdrawals or stop spreading this FUD.
I was offered the 5% emergency withdrawal option.

You merely have to ask for it, if it isn't offered to you.
I asked and was told that such an option does not exist.
I don't know if your trying to spread FUD(apologies if you are being sincere)
but here is the email I received from MtGox, see #4:


James Support, Sep 16 15:01 (JST):
Hello,
Sorry for the delay and thank you for the email.
1.We are processing the withdrawals manually. We are still working with our bank to have the issues sorted and we expect to have this sorted out soon. Processing manually it involves lot of man power and time and we are doing our best to do this and your withdrawal should be processed soon
2. Please be advised we do not hold funds of any customer, As updated in the announcement we have now formed relationships with several new banking partners both in Japan and around the world, and we are still in the process of finalizing even more. This means that we will have increased stability and ability to transmit withdrawals going forward.
3. We are working hard to increase the transaction speed and we still have a backlog of withdrawals to be cleared and we are in the process of forming relationships with new partners, banks, and taking other steps to clear the backlog.
4.Bank has provided an option for speed processing so if you urgently need money within 7 business days we can sent the fund that you requested manually. This method is really limited and out of negotiated price contract with the bank, the bank fee is high 5% because we have to convert JPY into an other currency (That we cannot choose, the currency depends on your country and only one currency is possible by country) then it takes 5 business days to get the money.
Please let us know if you have any other clarifications regarding this.
Best regards,
Mt.Gox Team
https://www.mtgox.com
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]

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joesmoe2012
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September 22, 2013, 05:39:10 PM
 #1526

There's no way a bank charges 5% conversion fee for a corporate account. 

isimme
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September 22, 2013, 05:52:21 PM
 #1527

There's no way a bank charges 5% conversion fee for a corporate account. 

Let me start that I am in no way affiliated with MtGox other then being a customer and an irate one at that
considering that my US international wire is at 38 days or 26 business days and still have not received it.

joesmoe2012:You make the strong statement quoted above yet do not back it with anything. Me saying this isn't personal, merely me being rational.

If I was able to help you in anyway, tips are appreciated:
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flound1129
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September 22, 2013, 07:10:09 PM
 #1528

4.Bank has provided an option for speed processing so if you urgently need money within 7 business days we can sent the fund that you requested manually. This method is really limited and out of negotiated price contract with the bank, the bank fee is high 5% because we have to convert JPY into an other currency (That we cannot choose, the currency depends on your country and only one currency is possible by country) then it takes 5 business days to get the money.

IMO, this statement cements the theory that they don't have the USD holdings to cover withdrawals.  If it's an expediency fee, then why do they state it's for currency exchange?

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User705
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September 22, 2013, 08:07:57 PM
 #1529

That's actually very likely because they are minus 5 mil USD and banks are probably wary of dealing with gox when it involves dollars exchange but other currencies should be fine then.  Are there delays for EUR withdraws?
sturle
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September 22, 2013, 10:03:58 PM
 #1530

4.Bank has provided an option for speed processing so if you urgently need money within 7 business days we can sent the fund that you requested manually. This method is really limited and out of negotiated price contract with the bank, the bank fee is high 5% because we have to convert JPY into an other currency (That we cannot choose, the currency depends on your country and only one currency is possible by country) then it takes 5 business days to get the money.
IMO, this statement cements the theory that they don't have the USD holdings to cover withdrawals.  If it's an expediency fee, then why do they state it's for currency exchange?
There is no end to the conspiracy theories in here.  JPY is a convertible currency.  MtGox are free to choose what currency they want to store their funds in.  I assume it is is most practical to use JPY in Japan.

Those terms are terrible, and hopefully only for express withdrawal.  It should be easy enough to send JPY everywhere as well.  My bank will accept any currency and convert upon reception.

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
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September 22, 2013, 10:16:28 PM
 #1531

Are there delays for EUR withdraws?

I've been waiting 3 weeks for my 631 EUR to arrive to my account and still counting. So yes, there are delays for EUR, too.


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andy-bc
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September 23, 2013, 07:39:09 AM
 #1532

Are there delays for EUR withdraws?
I've been waiting 3 weeks for my 631 EUR to arrive to my account and still counting. So yes, there are delays for EUR, too.



Same situation here. I have been waiting over 3 weeks now for my three-figure EUR transfer from MTGox.
So it looks like that euro transfers do not fare much better than USD currently.
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September 23, 2013, 08:38:15 AM
 #1533

Question: don't Bitpay and similar company's rely on MtGox in order to pay out customers? Howcome they're still up and running then?

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September 23, 2013, 09:12:29 AM
 #1534

Question: don't Bitpay and similar company's rely on MtGox in order to pay out customers? Howcome they're still up and running then?

Do you think MtGox's biggest clients are waiting 2 or 3 months for their money?

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September 23, 2013, 09:26:52 AM
 #1535

Are there delays for EUR withdraws?
I've been waiting 3 weeks for my 631 EUR to arrive to my account and still counting. So yes, there are delays for EUR, too.
Latest information: The volume of SEPA withdrawals in the end of August and beginning of September was huge.  Many SEPA withdrawals ordered during the weekend between August and September are still in confirmed state.  :-(

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
sturle
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September 23, 2013, 09:28:35 AM
 #1536

Question: don't Bitpay and similar company's rely on MtGox in order to pay out customers? Howcome they're still up and running then?
Do you think MtGox's biggest clients are waiting 2 or 3 months for their money?
Their biggest clients have probably set up domestic bank accounts in Japan a long time ago for quick deposit and withdrawal.

Sjå https://bitmynt.no for veksling av bitcoin mot norske kroner.  Trygt, billig, raskt og enkelt sidan 2010.
I buy with EUR and other currencies at a fair market price when you want to sell.  See http://bitmynt.no/eurprice.pl
Warning: "Bitcoin" XT, Classic, Unlimited and the likes are scams. Don't use them, and don't listen to their shills.
ardana123
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September 23, 2013, 10:21:32 AM
 #1537

Are there delays for EUR withdraws?
I've been waiting 3 weeks for my 631 EUR to arrive to my account and still counting. So yes, there are delays for EUR, too.
Latest information: The volume of SEPA withdrawals in the end of August and beginning of September was huge.  Many SEPA withdrawals ordered during the weekend between August and September are still in confirmed state.  :-(

shouldn't have plastered it all over the forums then, dumbo
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September 23, 2013, 11:26:22 AM
 #1538

I gave up and use lbc now to sell btc, I get the gox rate basically

https://localbitcoins.com/?ch=aiv

And yes that is an affiliate link Cheesy

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September 23, 2013, 11:54:02 AM
 #1539

Question: don't Bitpay and similar company's rely on MtGox in order to pay out customers? Howcome they're still up and running then?

Do you think MtGox's biggest clients are waiting 2 or 3 months for their money?


Is that a rhetorical question?

I don't think so, no... Do you have an explanation?

Is Sturdle right? Does Bitpay have a Japanese bank-account? If so, wouldn't Bitpay run into the exact same problems as MtGox does? Is their volume that much lower? They serve more than 10.000 merchants...

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September 23, 2013, 12:05:18 PM
 #1540

Are there delays for EUR withdraws?

I can not confirm this "one withdrawal every 20 days" rule that's out there in this forum.

I am waiting since 5 weeks now for my SEPA withdrawal. It's the first withdrawal I did in the last 6 month. There is no other withdrawal in my queue.

So yes, there is something seriously wrong at MtGox.
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