CEX.IO Withdrawal times - any experience?

[JJ17]

Hey guys,

I currently have some Euros and Dollars on my CEX.io account that i would like to withdraw.

Now there are different options.

For Euro: 1)SEPA (10€)
                2)credit card like VISA (3.50€)
For USD: 1) Bank transfer (50$)
                2) credit card again like VISA (3.80 $)
 

My question is how long does each approximately take to process a withdrawal? Do you guys have any experience with it?


I tend to prefer the VISA withdrawal because of the lower fees but i've never seen the option to transfer funds direktly to my credit card from a forgein account. Have you guys tried that?


thank you a a lot!

[bonooll]

how much amout?

fiat withdraw at CEX.IO will probably take you 20~30 days or even longer. and you need to complete a further verification

see these:
https://bitcointalk.org/index.php?topic=318010.msg19258637#msg19258637

and

https://bitcointalk.org/index.php?topic=318010.msg19276631#msg19276631

and

https://bitcointalk.org/index.php?topic=1932414.msg19186377#msg19186377

[JJ17]

Thank you for the quick reply!

That all sounds really bad. Amount is 20.000 USD.

20-30 day is ridiculous. I'm glad now that i at least my ony a test withdrawl of a few dollars first. So I still have the option to withdraw it via cryptio i guess...


In general that sounds like their either scamming people or have really bad operations...


If anyone knows more about it - I'm curious for your thoughts on this.

[bonooll]

for 20000USD, yes i do think you will be required for advanced verification

and they will not actively inform you that you need to complete another verification .
only when you see your withdraws are being pending for loooooonnnnggg time then you ask
they then tell you..... lol........ and the advanced verification will not be so easy like the basic one

sometimes, some support service staffs other than compliance team will answer you that they have already sent you money out. the delay is due to banking system. NOPE!!!! they need you to do an advanced verification, but they dont tell you unless you ask ask and ask......

best wishes.... lol

[klaaas]

pull it out in crypto and convert it somewhere else., local bitcoins maybe ?!
I think its a better option.

[bonooll]

pull it out in crypto and convert it somewhere else., local bitcoins maybe ?!
I think its a better option.

my cryptocapital withdrawal has been pending for 3 days until now.

[CEX]

We sincerely apologize for inconveniences you may have experienced with delays. We are already undertaking all measures to lift ticket and verification procedures. Read more here.

[milagm]

We sincerely apologize for inconveniences you may have experienced with delays. We are already undertaking all measures to lift ticket and verification procedures. Read more here.

So what is the status in this thing ?
What is the current processing time for FIAT money withdrawals ?

[mbtctrade]

I have been trading with CEX.IO for about a month now. So far I have made three fiat withdrawal requests via SWIFT transfer.

1st request: Made on 29 August 2017. It was reviewed and completed by the finance team 24 hours later. Took 9 days and the money was credited to my bank account.

2nd request: Made on 11 September 2017. It was reviewed and completed by the finance team 24 hours later. It has been 11 days now and I still have not received the money. I have contacted the bank and they stated that there was no incoming deposit transaction. The bank also mentioned that normally SWIFT transfer usually takes 2 - 7 working days.

3rd request: Made on 15 September 2017. As of now (7 days after the request was made), it has not been reviewed and completed by the finance team. The status is still pending. As a result, I don't know when I will get the money. I have issued a ticket to support team but all I received was just they have escalated the issue to the concerned department.

CEX.IO's support is very slow in responding to a ticket. Not sure when I will receive my fund for the 2nd and 3rd withdrawals. Seems like the 1st withdrawal went through without a problem and within reasonable time just to make me believe that their service is reliable. Think carefully before you use CEX.IO services and be cautious especially when you want to use fiat withdrawal option.

[milagm]

...Took 9 days and the money was credited to my bank account.
...It has been 11 days now and I still have not received the money.
... 3rd request: Made on 15 September 2017. As of now (7 days after the request was made), it has not been reviewed and completed by the finance team....

Thank you very much for your information in this situation.

If the banks are located in EU area the money transfer is normally 1 day not more than 3 bank days. In some other cases it may take 5 bank days.

I just would like to read/hear what is the official reason for this. Why the company does not tell it for us ?

This kind of delays are ridiculous from the past century and it creates a doubt the customer's money are used for other purposes than only for your trading...

IMO people should think twice until doing business with this kind of service providers.

[hahay]

I am an old user in cex.io but I never do withdrawal there because I am inactive to use cex.io.
I have a balance there is only 1+mBTC lol!!!

[1Referee]

IMO people should think twice until doing business with this kind of service providers.

CEX.IO isn't what it used to be anymore, and if I see an exchange experience less usage over time, that for me is a major first sign that I should start looking for an alternative service. To be honest, it's not that this service has started to slow down just recently, it has been going on for quite a while now. If they were a growing business due to the recent crypto craze, where they were experiencing heavy traffic, far more usage, etc, then you could at least understand the delays to a certain extent. But this is just ridiculous, they are 'playing' with people here. If there is one thing that people hate, then the number one thing will be them waiting for their money to arrive, especially if it's a larg sum.

[mbtctrade]

...Took 9 days and the money was credited to my bank account.
...It has been 11 days now and I still have not received the money.
... 3rd request: Made on 15 September 2017. As of now (7 days after the request was made), it has not been reviewed and completed by the finance team....

Thank you very much for your information in this situation.

If the banks are located in EU area the money transfer is normally 1 day not more than 3 bank days. In some other cases it may take 5 bank days.

I just would like to read/hear what is the official reason for this. Why the company does not tell it for us ?

This kind of delays are ridiculous from the past century and it creates a doubt the customer's money are used for other purposes than only for your trading...

IMO people should think twice until doing business with this kind of service providers.

FYI I'm in Asia. Also, all days in my post include Sat and Sun so you might need to deduct 2 if you are talking in terms of banking days. Below is an update on my situation.

I still haven't received the funds for my 2nd withdrawal. It's been 15 days now.

For my 3rd withdrawal, I decided to request for a cancellation on 25 September 2017. Since the transaction had been pending for 10 days since I initiated the request. Note again that my first two withdrawals was in pending state for less than 24 hours before the finance team reviewed and completed them. I was thinking of converting them back to BTC and withdraw BTC instead. Surprisingly, about 8 - 9 hours after I requested for a cancellation, the transaction was reviewed and completed. This means that the money has just been sent to the bank from their side. Judging from my 2nd withdrawal, I might need to wait for another 15 days or more. **Sigh**

In addition, I was requested to complete an additional AML/KYC form on 23 September 2017 and I sent a reply back to them on the same day asking about the support documents they are looking for. I haven't heard from them since then.

[ARTHurt]

I was just looking to open a new thread about fiat withdrawals from CEX and run into this thread.

So, my experience with them... trading since a few months and withdrawn fiat about 9 times using SEPA withdrawal option, 8k-9k amounts each time.

Everything went smooth everytime... it's just that they use to pick up the request after about 24 hours and mark it completed.
So I have never experienced more than 48 hrs untill the money in my bank, maybe only 1 or 2 times it took up to 48 hrs but usually 24 hrs as it is supposed to be receiving a SEPA transfer.

So, all good untill the last withdrawal, nothing uncommon about 8500 EUR, requested on Sep 13th and marked as completed on Sep 14th.

12 days later STILL NO MONEY atm on Sep 26th !!!

I had several mails exchange with them, with Finance Team, where I am asking how come a SEPA can take more that 48 hrs just out of the blue and them insisting it can take between 7 to 14 days even up to 20 days, insisting that a SEPA is still a WIRE and this is how it usually takes and asking from me to be patient as the money "will shortly" be in my account

I then have read SEPA regulations countless times and I know for sure any bank within SEPA is obliged to respect this timeframe, while CEX insists that "my requested SEPA withdrawal" is a WIRE which I suppose they initiated instead of SEPA as I have requested.

Then I have asked from them to give me the transaction details, the extract of the payment as my receiving bank instructed me to ask from them but still no answer.

I then learned from the finance team that they are now in some sort of closing the collaboration with the previous bank from where they used to send SEPA transfers and I suppose it has something to do with the suddenly big delays, as they keep quiet not explaining what is the issue, where are the money sent from, nor giving any helpful information to trace the money.

@CEX.io related to ticket 334470
please if you read this, keep in mind, no matter what the situation is there on your side, I am a user who has requested a SEPA withdrawal using your form (not WIRE, not SWIFT, not teleportation) and I am expecting that SEPA transfer since 12 days or 8 working days not yet arrived which is inadmissible.
And also inadmissible is to ask me to be patient and not giving any details of the transfer, at least a proof from your side that you actually sent the money and the method used.
You may do mistakes, it's understandable, I don't argue and I understand (as happened before), as long as we can communicate and you can explain what happened, but keeping quiet and ask to wait without any plausible explanation ... I do' no' ...

[ARTHurt]

Hey guys,

I currently have some Euros and Dollars on my CEX.io account that i would like to withdraw.

Now there are different options.

For Euro: 1)SEPA (10€)
                2)credit card like VISA (3.50€)
For USD: 1) Bank transfer (50$)
                2) credit card again like VISA (3.80 $)
 

My question is how long does each approximately take to process a withdrawal? Do you guys have any experience with it?


I tend to prefer the VISA withdrawal because of the lower fees but i've never seen the option to transfer funds direktly to my credit card from a forgein account. Have you guys tried that?


thank you a a lot!

... to your question, from my experience:
SEPA (10€) works for larger amounts up to 10.000€ where 10€ is decent
by credit card VISA it works as well, you'll find a "reversal of payment" on your bank statement, but you'll pay 3.50€ for max. 2000€ transferred.

[mbtctrade]

I want to share an update on my case.

The Compliance team informed me today that they have already completed my two pending withdrawal transactions. I then replied back stating that I have already known that fact. Because, I have already received two confirmation emails notifying me that both transactions have been completed. What I need to know is the when the money will be deposited to my bank accounts since I have been waiting for more than two weeks.

The Compliance team then replied me back with "To clarify actual status of your funds you should contact your bank. Once funds left our bank account, we have no information about their current status." What kind of response is that?

I then replied to them with "In that case, please provide me with any related documents showing that you have transfer the money to my bank account? How am I suppose to contact my bank without any evidence? How would they believe me?" Still awaiting their reply.

It has been more than two weeks. Just now I checked my bank account, the money is not there.

[flippp]

Just sharing my "similar" experience:

CeX.io offers SEPA bank transfer to withdraw money in Euro. I made 2 withdrawals: The second one was deposited within 24 hours in my bank account. My first one (initiated on Sept. 9th) has been set to status “completed” on the side of CeX 10 days later on Sept. 19th and the money is still not deposited in my bank account. CeX replied to me in a support ticket:

As you can see in your account transaction history, the concerned bank transfer status is “Completed”. This means that CEX.IO has already processed and sent your funds towards your bank. At this stage, we are not able to influence the payment as it is being processed with the banking system.

However, by law SEPA payments in Euro must be processed by the bank and deposited to the recipient’s account no later than the next banking day:

SEPA clearing rules require that payments made before the cutoff point on a working day, be credited to the recipients account within 1 working day. https://en.wikipedia.org/wiki/Single_Euro_Payments_Area

In the same support ticket CeX replies:

On our side processing of the bank transfers usually takes one banking day. It usually takes from 2-7 banking days for the banking system to process with your payment. In some cases, it may take up to 20 banking days. / Please consider that withdrawal payment processing timeline is up to 20 banking days on CEX.IO: https://cex.io/finance/limits-commissions#/direction/withdrawal

I don’t find this statement consistent. How can it be that the total payment processing can take 20 banking days when CeX internally usually requires just 1 banking day and SEPA payments must be processed by the bank or payment service provider until the next banking day?

For me it’s also not clear why my 2nd withdrawal was processed within 24 hours and the 1st withdrawal now lasts for more than 13 days and the amount hasn’t been deposited yet. For me it looks as if my first withdrawal has not really been processed by CeX although they write this.

[milagm]

I don’t find this statement consistent. How can it be that the total payment processing can take 20 banking days when CeX internally usually requires just 1 banking day and SEPA payments must be processed by the bank or payment service provider until the next banking day?

This is what I tried to say few post earlier. Only answer for this is they are playing with your money elsewhere and it will take time to return them back to you when you are asking. Of course you belong to a pool of other customers whos money is in question, but anyway the same thing.

In well regulated business this is not possible or it is an illegal move...

---

The question is why don't they come out and explain the real reason. Everybody is asking ?

---

These questions are very dangerous for the business if the game is not honest and clear and should be taken seriously by the company. Sometimes it does not take much when panic hits and the snowball is ready to roll...

[ARTHurt]

Just sharing my "similar" experience:

CeX.io offers SEPA bank transfer to withdraw money in Euro. I made 2 withdrawals: The second one was deposited within 24 hours in my bank account. My first one (initiated on Sept. 9th) has been set to status “completed” on the side of CeX 10 days later on Sept. 19th and the money is still not deposited in my bank account. CeX replied to me in a support ticket:

As you can see in your account transaction history, the concerned bank transfer status is “Completed”. This means that CEX.IO has already processed and sent your funds towards your bank. At this stage, we are not able to influence the payment as it is being processed with the banking system.

However, by law SEPA payments in Euro must be processed by the bank and deposited to the recipient’s account no later than the next banking day:

SEPA clearing rules require that payments made before the cutoff point on a working day, be credited to the recipients account within 1 working day. https://en.wikipedia.org/wiki/Single_Euro_Payments_Area

In the same support ticket CeX replies:

On our side processing of the bank transfers usually takes one banking day. It usually takes from 2-7 banking days for the banking system to process with your payment. In some cases, it may take up to 20 banking days. / Please consider that withdrawal payment processing timeline is up to 20 banking days on CEX.IO: https://cex.io/finance/limits-commissions#/direction/withdrawal

I don’t find this statement consistent. How can it be that the total payment processing can take 20 banking days when CeX internally usually requires just 1 banking day and SEPA payments must be processed by the bank or payment service provider until the next banking day?

For me it’s also not clear why my 2nd withdrawal was processed within 24 hours and the 1st withdrawal now lasts for more than 13 days and the amount hasn’t been deposited yet. For me it looks as if my first withdrawal has not really been processed by CeX although they write this.

OK, so CEX behavior is similar to other users, not only to me.

I get the exact same response when I insist I am waiting for a SEPA transfer that should not take more than 2 working days and CEX keeps explaining the 3-9 days or 7-14 days to max 20 days (weekends not included) and insisting  that "a SEPA is still a WIRE" to convince me to be patent and wait more.
It's been 2 weeks waiting and ckecking my bank account 10 times a day and still no money.

[CEX]

Just sharing my "similar" experience:

CeX.io offers SEPA bank transfer to withdraw money in Euro. I made 2 withdrawals: The second one was deposited within 24 hours in my bank account. My first one (initiated on Sept. 9th) has been set to status “completed” on the side of CeX 10 days later on Sept. 19th and the money is still not deposited in my bank account. CeX replied to me in a support ticket:

As you can see in your account transaction history, the concerned bank transfer status is “Completed”. This means that CEX.IO has already processed and sent your funds towards your bank. At this stage, we are not able to influence the payment as it is being processed with the banking system.

However, by law SEPA payments in Euro must be processed by the bank and deposited to the recipient’s account no later than the next banking day:

SEPA clearing rules require that payments made before the cutoff point on a working day, be credited to the recipients account within 1 working day. https://en.wikipedia.org/wiki/Single_Euro_Payments_Area

In the same support ticket CeX replies:

On our side processing of the bank transfers usually takes one banking day. It usually takes from 2-7 banking days for the banking system to process with your payment. In some cases, it may take up to 20 banking days. / Please consider that withdrawal payment processing timeline is up to 20 banking days on CEX.IO: https://cex.io/finance/limits-commissions#/direction/withdrawal

I don’t find this statement consistent. How can it be that the total payment processing can take 20 banking days when CeX internally usually requires just 1 banking day and SEPA payments must be processed by the bank or payment service provider until the next banking day?

For me it’s also not clear why my 2nd withdrawal was processed within 24 hours and the 1st withdrawal now lasts for more than 13 days and the amount hasn’t been deposited yet. For me it looks as if my first withdrawal has not really been processed by CeX although they write this.

OK, so CEX behavior is similar to other users, not only to me.

I get the exact same response when I insist I am waiting for a SEPA transfer that should not take more than 2 working days and CEX keeps explaining the 3-9 days or 7-14 days to max 20 days (weekends not included) and insisting  that "a SEPA is still a WIRE" to convince me to be patent and wait more.
It's been 2 weeks waiting and ckecking my bank account 10 times a day and still no money.

Dear ARTHurt,
please check you CEX.IO account, we've contacted your bank and have information for you on your personal page. If you have any further question,please write direct message, we will help you asap. Thank you again for your patience!