MtGox withdrawal delays [Gathering]

[3nrg]

Verified account at gox.  Currently waiting over 74 hours for my bitcoin withdraw to confirm in blockchain.

Is that normal, for it to take that long?

Well normal enough for someone to make this site:  http://skanner.net/MtGox/mtgox_tx.php

Not sure what the percentages on bad withdraws are but there seems to be a lot at any given time. 

I split my withdraw into three parts as I was aware of the issues.  2/3 withdraws went smoothly, under an hour.  But now waiting over 3 days for one withdraw.  And no response of course from their "support" team. 

A lot? I see 183 (out of who knows how many total transactions). Many of these are over 100 bitcoins. I'm not sure how much you were sending, or what the fiat output is supposed to be, but you must be loaded, to need to send three different transactions. Otherwise you likely only made your situation worse by increasing the chances for something to go wrong...

I hope you get your money. Next time pay a larger fee, $3 is nothing when sending half a million USD....

Gox implements an automatic 0.001 btc fee which is fine for my withdraw amounts.  And by splitting them up I saved myself from a major headache as it was my first transaction that didn't go through and I needed fiat money this week.  I wasn't looking for advice, just stating my situation for others.  Plus gox has had thousands of bad transactions on their part mostly due to a bug in their system.  I consider that a lot even though it may be a small percentage of total.  Frustrating for anyone in a similar situation.

[1714051589]

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[1714051589]

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[severance26]

Verified account at gox.  Currently waiting over 74 hours for my bitcoin withdraw to confirm in blockchain.

Is that normal, for it to take that long?

Well normal enough for someone to make this site:  http://skanner.net/MtGox/mtgox_tx.php

Not sure what the percentages on bad withdraws are but there seems to be a lot at any given time. 

I split my withdraw into three parts as I was aware of the issues.  2/3 withdraws went smoothly, under an hour.  But now waiting over 3 days for one withdraw.  And no response of course from their "support" team. 

A lot? I see 183 (out of who knows how many total transactions). Many of these are over 100 bitcoins. I'm not sure how much you were sending, or what the fiat output is supposed to be, but you must be loaded, to need to send three different transactions. Otherwise you likely only made your situation worse by increasing the chances for something to go wrong...

I hope you get your money. Next time pay a larger fee, $3 is nothing when sending half a million USD....

Gox implements an automatic 0.001 btc fee which is fine for my withdraw amounts.  And by splitting them up I saved myself from a major headache as it was my first transaction that didn't go through and I needed fiat money this week.  I wasn't looking for advice, just stating my situation for others.  Plus gox has had thousands of bad transactions on their part mostly due to a bug in their system.  I consider that a lot even though it may be a small percentage of total.  Frustrating for anyone in a similar situation.

Fair enough, you weren't looking for advice. I don't know much about lost transactions of this kind. Is there any kind of connection to the transaction type on Gox's end? For instance, is SEPA, Int'l Wire, Domestic, etc a factor? Or have these block losses been all over the board? The website you posted seems to have found a correlation with very large tx's and also with zero fee tx's (which I didn't know Mt Gox did, I'm not even sure how the site knows its MtGox and not unrelated...). I wonder what other correlations there might be...

[ozjabi]

* Withdrawals

All withdrawals will be sent through the MtGox Polish bank account and will involve a 1% fee with a minimum of 5.5 PLN

Please note the following rules :
- It is not possible to withdraw less than 10 EUR.
- Withdraws lower than 100.00 EUR are on average take less than a week.
- It takes at least a month on average for withdrawals larger than 10,000 EUR
- Withdrawals greater than 50,000 EUR need to be split it into multiple transfers or you can use the International Wire payment method.
- Due to the volume of withdrawals requests, each customer is currently only allowed 1 withdrawal every 20 days (estimate)
 Situation as of 16th January 2014: We are currently processing withdrawals requested 3 weeks ago. (Users with several withdrawals in the queue must take the 20 day rule above into account)

Is this an official announcement?

Sure, its in the FAQ: https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

Does this correspond to everyone's actual experience?

This is from the FAQ under the "Europe/SEPA Transfers(EUR)" section. I am taking about Japanese domestic transfers, where the same FAQ says:

"* Withdrawals
All JPY withdrawals placed before 4pm Tokyo time on banking days are now processed the following banking day, and will be sent from our JapanNet Bank account."

Which is patently false.

[angrynerd88]

I have about 5 btc in bitstamp and my idea was to transfer them to Gox and take advantage of spread. I thought I just had to wait one or two months for withdrawal then. Was I wrong? Reading this thread I have changed my mind. But on the Italian bitcointalk forum guys told me I would have just to wait a bit more. Need some advice I am a bit new to btc and have teamedonly in bbitstamp so far.

[Chancellor]

I have about 5 btc in bitstamp and my idea was to transfer them to Gox and take advantage of spread. I thought I just had to wait one or two months for withdrawal then. Was I wrong?

I've had a similar idea, currently MtGox officially state SEPA withdrawals take 6 weeks. Anyway, my withdrawal account, defined in Withdrawal Center is still inactive. Then I do not think that trying to gain on the spread is so good idea. Personally I decided to give it up, too risky.

[saigo]

Finally got a reply to the support requests raised regarding my unprocessed withdrawal

"Due to the Japanese holiday, all the withdrawal requests have been piled up and we are currently working to catch up the delays.
We would update you once the withdrawals are processed."

Well, at least they responded with something...  

[raskul]

Finally got a reply to the support requests raised regarding my unprocessed withdrawal

"Due to the Japanese holiday, all the withdrawal requests have been piled up and we are currently working to catch up the delays.
We would update you once the withdrawals are processed."

Well, at least they responded with something...  

I too, have noticed that the frequency of responses to my support requests are becoming shorter. this is a good sign, come on MtGox!!! we are still here waiting and we know you can catchup!

 

[severance26]

* Withdrawals

All withdrawals will be sent through the MtGox Polish bank account and will involve a 1% fee with a minimum of 5.5 PLN

Please note the following rules :
- It is not possible to withdraw less than 10 EUR.
- Withdraws lower than 100.00 EUR are on average take less than a week.
- It takes at least a month on average for withdrawals larger than 10,000 EUR
- Withdrawals greater than 50,000 EUR need to be split it into multiple transfers or you can use the International Wire payment method.
- Due to the volume of withdrawals requests, each customer is currently only allowed 1 withdrawal every 20 days (estimate)
 Situation as of 16th January 2014: We are currently processing withdrawals requested 3 weeks ago. (Users with several withdrawals in the queue must take the 20 day rule above into account)

Is this an official announcement?

Sure, its in the FAQ: https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

Does this correspond to everyone's actual experience?

This is from the FAQ under the "Europe/SEPA Transfers(EUR)" section. I am taking about Japanese domestic transfers, where the same FAQ says:

"* Withdrawals
All JPY withdrawals placed before 4pm Tokyo time on banking days are now processed the following banking day, and will be sent from our JapanNet Bank account."

Which is patently false.

Haha yes that is true. Its totally false. Thats why at the withdrawal center, its written in the pink box that there are delays from New Year. I think that message is intended for domestic transfers but MtGox probably left it intentionally vague so as to seem like an excuse for ALL of their withdrawals having serious delays. They really need better management...

[lucaing]

Finally got a reply to the support requests raised regarding my unprocessed withdrawal

"Due to the Japanese holiday, all the withdrawal requests have been piled up and we are currently working to catch up the delays.
We would update you once the withdrawals are processed."

Well, at least they responded with something...  

I too, have noticed that the frequency of responses to my support requests are becoming shorter. this is a good sign, come on MtGox!!! we are still here waiting and we know you can catchup!

 

i got almost the same answer...

"Sorry for the delay in getting back to you. I can see that your withdrawal has been confirmed and it will get processed soon. Due to the Japanese holiday, all the withdrawal requests have been piled up and we are currently working to catch up the delays."

Meanwhile i'm still waiting for 2014/01/12 withdrawal

 

[ffcitatos]

So what is the last SEPA/Japan withdrawal somebody made and how long did it take? It would be nice to have some reliable info from the community to compare with the FAQ.

[severance26]

I still use them chiefly because of multicurrency support + liquidity, but I take major issue with their communication - I have had support tickets unanswered for days, and they are not at all upfront about their problems.

Yeah, I think this is really their main issue. When they have problems, like recent delays, they dont take responsibility head on. Blame the Japanese banking system like they couldnt have known.

Everyone should ask them to be more upfront in their next support ticket. Maybe if enough people say it, theyll figure it out.

[medicine]

I still use them chiefly because of multicurrency support + liquidity, but I take major issue with their communication - I have had support tickets unanswered for days, and they are not at all upfront about their problems.

Yeah, I think this is really their main issue. When they have problems, like recent delays, they dont take responsibility head on. Blame the Japanese banking system like they couldnt have known.

Everyone should ask them to be more upfront in their next support ticket. Maybe if enough people say it, they'll figure it out.

Ya I don't think that's going to happen (the taking responsibility part).  I think they are just f&*)^ed.  Time does move fast in cyrptoland though so there is a chance they sort their S&*^t out before they completely collapse.  I recommend staying away from this site.  New exchanges are popping up in every country so unless you live in Japan what's the point.

[igorr]

MtGox exchange loses credibility,and has the lowest trading vulume.
(btce, bitstamp and bitfinex have the larger volume than MtGox)

View Screen Capture

[bitcoinvest]

Greetings,

It's been 4 days since the withdraw i asked.
And 2 days since i opened a ticket for this to get informed on what is going on.(No reply after 2 days ! ! ! )

We all know that SEPA transactions are very fast. ( in my case in not International Wire is SEPA for sure, i mention this not to get a reply talking about international wire etc... delays)

So what is going on ? ? ?

Does anyone knows anything about this ?

How hard is for MtGox to make a SEPA transaction  ? ?

[mp420]

Greetings,

It's been 4 days since the withdraw i asked.
And 2 days since i opened a ticket for this to get informed on what is going on.(No reply after 2 days ! ! ! )

We all know that SEPA transactions are very fast. ( in my case in not International Wire is SEPA for sure, i mention this not to get a reply talking about international wire etc... delays)

So what is going on ? ? ?

Does anyone knows anything about this ?

How hard is for MtGox to make a SEPA transaction  ? ?

SEPA transfers take about 3 to 4 weeks. According to MtGox, this is because they have a small(ish) daily quota for outgoing payments at their Polish bank account. That quota, as of now, is supposed to be about 200k€/day = about 6 million €/month. They do report the delay on their faq page. The delay that they report seems to have corresponded with actual experience.

Do not believe anything they imply about SWIFT on their FAQ. They have some issues (probably with regulators) that they're not disclosing, and this means they are not sending regular SWIFT transfers at all. The only SWIFT option that appears to exist is the emergency withdrawal with 5% fee, and even that takes several weeks to be processed.

[kutsishin]

Has anyone received USD from them since mid November? I haven't

That's pretty much the same time I received my last USD withdrawal (at 5% fee). Haven't tried since..

same here

[bitcoinvest]

Greetings,

It's been 4 days since the withdraw i asked.
And 2 days since i opened a ticket for this to get informed on what is going on.(No reply after 2 days ! ! ! )

We all know that SEPA transactions are very fast. ( in my case in not International Wire is SEPA for sure, i mention this not to get a reply talking about international wire etc... delays)

So what is going on ? ? ?

Does anyone knows anything about this ?

How hard is for MtGox to make a SEPA transaction  ? ?

SEPA transfers take about 3 to 4 weeks. According to MtGox, this is because they have a small(ish) daily quota for outgoing payments at their Polish bank account. That quota, as of now, is supposed to be about 200k€/day = about 6 million €/month. They do report the delay on their faq page. The delay that they report seems to have corresponded with actual experience.

Do not believe anything they imply about SWIFT on their FAQ. They have some issues (probably with regulators) that they're not disclosing, and this means they are not sending regular SWIFT transfers at all. The only SWIFT option that appears to exist is the emergency withdrawal with 5% fee, and even that takes several weeks to be processed.

When you want to buy bitcoins and you deposit in Polish bank it takes 3-4 days to be credited into your acount.(1-2 days to reach the Polish bank)
So the problem is the limit they have as i can undestand but since the ask for this (deposit and withdrawal) is very hi, why they don't establish a new cooperation (firm etc) in London for example? or in Frankfurt? (we all know how UK and Germany approve bitcoin).

That will rise the limit since they are going to have more daily quota....

And one more question... it's been 3 days now with no reply on my ticket...at least they must reply on time ...

Just to make clear i like MtGox and i support it but this is a problem they must solve right now...not in a month...

[raskul]

I woke up this morning to find myself verified.
I am now going to do an initial test trade, and withdrawal, as I have done with other exchanges, i'll post here when the money hits my bank.
It does look like mtgox are striving to sort things out, so here goes...

EDIT: actually 'now' may be this afternoon when BTC prices rise a bit  

EDIT2: bank details submitted and currently 'verifying'.

EDIT3: OK, i'd said to myself, the first thing I see on the site that is unusual, or suspect, i'd have to reconsider...



^^^ last price higher than my order ask, and the order hasn't processed. does not fall in line with my obsessive compulsive brain.

as soon as the confusion dissipates, i'm taking back my small amount of BTC.

[severance26]

Finally got a reply to the support requests raised regarding my unprocessed withdrawal

"Due to the Japanese holiday, all the withdrawal requests have been piled up and we are currently working to catch up the delays.
We would update you once the withdrawals are processed."

Well, at least they responded with something...  

I too, have noticed that the frequency of responses to my support requests are becoming shorter. this is a good sign, come on MtGox!!! we are still here waiting and we know you can catchup!

 

Shorter?  I just got a response on a ticket from 8 days ago.

I have noticed a difference between REPLIES TO OPEN TICKETS and OPENING A TICKET. I had an open ticket and used it to keep an open dialogue, getting replies about every 4 business days. During that time I had a new ticket which took a week to get assigned, and after a second week, I had solved the problem through the already open ticket and closed the new one, not having been responded to after 2 weeks.

[raskul]

i just did a withdraw of those BTC (as confusion settled)...

transaction ID (supposedly)
d7379fdec3d2bac9c87225ae44fe382cbbf72296058250399195d95e03eb41e9

blockchain says NO. will update if I ever see those coins again.

EDIT: 4 hrs 30mins after request, BTC withdrawal has been received in my wallet.