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Author Topic: MtGox withdrawal delays [Gathering]  (Read 857958 times)
bernard75
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November 03, 2013, 07:17:41 AM
 #2221

Well, SEPA transfers are pretty fast (1-2 days from the moment the bank receives its submission)
Thats a directive from the EU council, no bank can process it longer than on the same day.
and generally unexpensive (depending on the bank, but you could find banks with 0 fee).
They would be breaking the law if they are within the EU and have adopted the Euro. Anyway by Feb 2013 they all have to comply, no matter if GB or Switzerland.
Assuming the exchanger are indeed solvent (which I do not take for granted, btw)
We are on the same page afterall.
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S3052
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November 03, 2013, 06:50:47 PM
 #2222


Western Union should buy MtGox.
It would save both companies.
Both will die if they do nothing.


Damn good idea actually.  I gotta wonder if it is not to late for one or both of them already though.



I've been short NYSE:WU for a while as bitcoin eats away at their business.  If they make any major bitcoin purchase (MtGox would be ideal for them) I go long instead.  WU would give Gox all the MTL licenses it could ever want and compliance in most major economies worldwide.  In return, Gox would give WU a future.  Together they would be like localbitcoins on steroids, with branches globally and in most currencies.
WU also has the legal muscle to renegotiate the fees owed in the different jurisdictions and has been doing major investment in compliance and compliance workflow automations.  It is almost as if they are engaged to be married already.

Must not be doing so well on that short.... WU has had a nice stable uptrend for some time now.

hole in the wall for WU...!


http://www.marketwatch.com/story/western-union-slides-on-2014-compliance-costs-2013-10-30?siteid=bigcharts&dist=bigcharts

high compliance costs

bernard75
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November 03, 2013, 06:53:35 PM
 #2223

Really astonishing in the light of their latest numbers.
mcdett
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November 04, 2013, 01:25:27 AM
 #2224

Anyone with a new witdraw processed??

Wich date??

 Huh
I'm still waiting for my four figure withdrawal from July. Their backlog doesn't seem to be moving very quickly.

If it's not in EUR, PLN, or JPY, then it won't be going out anytime soon unless you pay the extra 5% to withdraw, which also currently have a backlog.



What's the status on this?  I've also taken big delays from swift transfers to the US.  Is there another thread addressing this?  How are the bank wire transfers working on bitstamp?
trdiablo
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November 04, 2013, 09:12:45 AM
 #2225

MtGox did change the text on the SEPA withdrawal page. It now says that withdrawal will take 4 weeks or longer.

Savior
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November 04, 2013, 03:35:34 PM
 #2226

Pending now after 6 weeks and two days. Requested 21.sept.
dishwara
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November 04, 2013, 03:50:03 PM
 #2227

Sorry for off-topic.

https://support.mtgox.com/entries/22138375-Apostille-needed-countries

Anyone asked to give apostille to mtgox?

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dsattler
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November 04, 2013, 04:00:08 PM
 #2228

After waiting for nearly 4 weeks, I have asked them to cancel my sepa withdrawal, what they almost instantly did.

Then I bought some BTC and transferred them to my wallet.

Case closed.  Wink

Bitcointalk member since 2013! Smiley
Frizz23
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November 04, 2013, 04:11:21 PM
 #2229

After waiting for nearly 4 weeks, I have asked them to cancel my sepa withdrawal, what they almost instantly did.

Then I bought some BTC and transferred them to my wallet.

This "artificial demand" drives the price higher and higher. Until the day MtGox goes bankrupt.
tvbcof
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November 04, 2013, 06:01:15 PM
 #2230

After waiting for nearly 4 weeks, I have asked them to cancel my sepa withdrawal, what they almost instantly did.

Then I bought some BTC and transferred them to my wallet.

Case closed.  Wink

If Mt. Gox wants to get my $5k intl wire monkey off their back, they can cancel it and return the number of BTC I sold in order to raise that amount of fiat at the time.  That would be at around $100/BTC iirc.

If Mt Gox autonomously cancels my accepted wire, I'll feel justified in holding them accountable for damages.  Whether I take action or not I don't know.  Depends on if it is practical do to, and if I've got nothing better to do.


isimme
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November 04, 2013, 07:00:51 PM
 #2231

Sorry for off-topic.

https://support.mtgox.com/entries/22138375-Apostille-needed-countries

Anyone asked to give apostille to mtgox?
Apostille is required to gain Trusted status

If I was able to help you in anyway, tips are appreciated:
1A1RcqRKdApT4ViLmZcdDBES8rov3zjMYp
joesmoe2012
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November 04, 2013, 07:15:06 PM
 #2232

What date are we upto on SEPA? IIRC the last person to receive was from 9/18/13, but I may have missed a more recent one...

justusranvier
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November 04, 2013, 07:17:22 PM
 #2233

For US residents wanting to cash out USD from Mt Gox - at this moment you can move your BTC to Coinbase and cash out without taking a hit.

I don't know exactly why this happened or how long it will last, but Coinbase prices are currently above Mt Gox prices.
solex
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November 04, 2013, 07:24:33 PM
 #2234

For US residents wanting to cash out USD from Mt Gox - at this moment you can move your BTC to Coinbase and cash out without taking a hit.

I don't know exactly why this happened or how long it will last, but Coinbase prices are currently above Mt Gox prices.

Think of this opportunity as something like getting into an escape pod in the film "Gravity" and pressing the right buttons to ensure a safe re-entry to Earth.  Smiley

tvbcof
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November 04, 2013, 07:36:37 PM
 #2235

For US residents wanting to cash out USD from Mt Gox - at this moment you can move your BTC to Coinbase and cash out without taking a hit.

I don't know exactly why this happened or how long it will last, but Coinbase prices are currently above Mt Gox prices.

Since I've been a Coinbase user, it's seemed to me that they have tracked pretty well with the BTCChina exchange.  It would make some sense as siblings are principles in both adventures.

Looks pretty clear to me that China (as a population situated in an economic sphere)  have taken over at the reigns of the Bitcoin gravy train.

Anyone know how to write 'bitcoin' in simplified Chinese?  I would like to be able to recognize that string.  "二进制数据硬币" ?

 edit:  Playing around with google translate, I like this better: "从二进制数据的一个元素命名的硬币"


dsattler
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November 04, 2013, 07:44:56 PM
 #2236

What date are we upto on SEPA? IIRC the last person to receive was from 9/18/13, but I may have missed a more recent one...

I did a sepa withdrawal request on 9/30/13 and the booking appeared at my local bank account on 10/1/13, but it was only about 50 euros. I have heard (or read here?) that the long transaction delays happens for amounts above 400 euros.

Bitcointalk member since 2013! Smiley
mp420
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November 04, 2013, 08:25:05 PM
 #2237

Gox sez:

Quote
Situation as of 4 November 2013: We are currently processing withdrawals requested six weeks ago.

So, if someone has a SEPA withdrawal waiting from  Sep 23 or earlier, they should be processed soonish. They do not seem to be catching up though, so the SEPA queue will likely be getting longer and longer.
joesmoe2012
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November 04, 2013, 08:44:16 PM
 #2238

Where did you see this?

greaterninja
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November 04, 2013, 11:32:33 PM
 #2239

I have a requests in from 10/10/13 and 10/17/13;   they say confirmed IBTF.

However my USD Bank does not show a wire yet.
joesmoe2012
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November 04, 2013, 11:40:35 PM
 #2240

I have a requests in from 10/10/13 and 10/17/13;   they say confirmed IBTF.

However my USD Bank does not show a wire yet.


Did you pay the 5% processing fee?

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