CEX.IO Withdrawal times - any experience?

[moonoiz]

Almost 2 weeks for me. Ticket no. 337948

[mbtctrade]

Dear CEX.IO,

Seeing your post recently, I hope you could help me with my case.

I have initiated two fiat SWIFT withdrawals on 11 Sep 2017 and 15 Sep 2017. Both of them have been marked completed. It has been nearly three weeks for the first one and two weeks for the second but the money has not been deposited to my bank account. I have contacted my bank and they confirmed that the SWIFT transfer takes two to seven days. I also tried withdrew a larger amount of money via SWIFT from another exchange and it took only two days.

I asked the Compliance team about the status and when the money will be deposited to my bank account. Here's what they replied "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.". I find that the reply is not reasonable because:

1. In general, when you want to trace something, you would need to trace from the source not the destination. What the Compliance team told me is like asking me to trace my fund from the destination which is weird. What if the fund never leave the source in the first place? How can the destination bank trace the fund?

2. The Compliance team simply asked me to contact my bank without providing any support documents. How am I going to tell my bank that someone has already transferred the money to my bank account? It would be very difficult for the bank to believe me without any evidence.

3. Although, I think it is CEX.IO's responsibility to find out the status of my withdrawals (since you are one who provide services not me), I am willing to trace the funds by myself. Just give me documents showing that you have already transferred money to my bank account.

[CEX]

Dear CEX.IO,

Seeing your post recently, I hope you could help me with my case.

I have initiated two fiat SWIFT withdrawals on 11 Sep 2017 and 15 Sep 2017. Both of them have been marked completed. It has been nearly three weeks for the first one and two weeks for the second but the money has not been deposited to my bank account. I have contacted my bank and they confirmed that the SWIFT transfer takes two to seven days. I also tried withdrew a larger amount of money via SWIFT from another exchange and it took only two days.

I asked the Compliance team about the status and when the money will be deposited to my bank account. Here's what they replied "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.". I find that the reply is not reasonable because:

1. In general, when you want to trace something, you would need to trace from the source not the destination. What the Compliance team told me is like asking me to trace my fund from the destination which is weird. What if the fund never leave the source in the first place? How can the destination bank trace the fund?

2. The Compliance team simply asked me to contact my bank without providing any support documents. How am I going to tell my bank that someone has already transferred the money to my bank account? It would be very difficult for the bank to believe me without any evidence.

3. Although, I think it is CEX.IO's responsibility to find out the status of my withdrawals (since you are one who provide services not me), I am willing to trace the funds by myself. Just give me documents showing that you have already transferred money to my bank account.

Dear Mbtctrade, please provide you ticket number, please accent our apologies for the delay. Thank you in advance!

[CEX]

Almost 2 weeks for me. Ticket no. 337948

Dear moonoiz, we are checking your ticket, thank you for your patience.

[mbtctrade]

Dear CEX.IO,

Seeing your post recently, I hope you could help me with my case.

I have initiated two fiat SWIFT withdrawals on 11 Sep 2017 and 15 Sep 2017. Both of them have been marked completed. It has been nearly three weeks for the first one and two weeks for the second but the money has not been deposited to my bank account. I have contacted my bank and they confirmed that the SWIFT transfer takes two to seven days. I also tried withdrew a larger amount of money via SWIFT from another exchange and it took only two days.

I asked the Compliance team about the status and when the money will be deposited to my bank account. Here's what they replied "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.". I find that the reply is not reasonable because:

1. In general, when you want to trace something, you would need to trace from the source not the destination. What the Compliance team told me is like asking me to trace my fund from the destination which is weird. What if the fund never leave the source in the first place? How can the destination bank trace the fund?

2. The Compliance team simply asked me to contact my bank without providing any support documents. How am I going to tell my bank that someone has already transferred the money to my bank account? It would be very difficult for the bank to believe me without any evidence.

3. Although, I think it is CEX.IO's responsibility to find out the status of my withdrawals (since you are one who provide services not me), I am willing to trace the funds by myself. Just give me documents showing that you have already transferred money to my bank account.

Dear Mbtctrade, please provide you ticket number, please accent our apologies for the delay. Thank you in advance!

My ticket number is 342266.

[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.

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! 

Dear CEX, Thank you for your answer but there is no evidence on 345395 that you have contacted my bank, I have myself contacted my bank and they don't find any incoming transfer to my account asking for extract of payment from your side which I don't have.
I have replied directly to the ticket as per your advice and also attached snapshots from my bank account and transfers ledger.
It's a pitty for all this situation after so many flowless previous SEPA withdrawals where it's obvious this time there is a problem somewhere which needs to be handled.

[milagm]

Almost 2 weeks for me. Ticket no. 337948

Dear moonoiz, we are checking your ticket, thank you for your patience.

CEX, you really have to do somethin for these payment delays if you want to continue in this business. It is your customers money in question. Not yours.

AT LEAST EXPLAIN WHY OTHERS ARE TRANSFERING FIAT MONEY WITHIN 1-2 DAYS FOR EXAMPLE KRAKEN AND GDAX BUT YOU CANNOT ?!

Some day the customers will just get enough and there will be a huge snowball effect... mark my words!

[moonoiz]

Almost 2 weeks for me. Ticket no. 337948

Dear moonoiz, we are checking your ticket, thank you for your patience.

CEX, you really have to do somethin for these payment delays if you want to continue in this business. It is your customers money in question. Not yours.

Some day the customers will just get enough and there will be a huge snowball effect... mark my words!

Totally agreed. CEX.IO has been asking for more and more documents without ending. Since I asked them to cancel pending fiat withdrawal they stopped answering for week.

[CEX]

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! 
[/quote]

Dear CEX, Thank you for your answer but there is no evidence on 345395 that you have contacted my bank, I have myself contacted my bank and they don't find any incoming transfer to my account asking for extract of payment from your side which I don't have.
I have replied directly to the ticket as per your advice and also attached snapshots from my bank account and transfers ledger.
It's a pitty for all this situation after so many flowless previous SEPA withdrawals where it's obvious this time there is a problem somewhere which needs to be handled.

[/quote]

Dear ARThurt, our apologies for the delay, you have answer from our support in your ticket. The further processing depends on banks only, therefore we inform our customers about timeframes which withdrawal may take.
Please check the link: https://cex.io/finance/limits-commissions#/direction/withdrawal
Thank you again for you patience

[mbtctrade]

Dear CEX.IO,

Seeing your post recently, I hope you could help me with my case.

I have initiated two fiat SWIFT withdrawals on 11 Sep 2017 and 15 Sep 2017. Both of them have been marked completed. It has been nearly three weeks for the first one and two weeks for the second but the money has not been deposited to my bank account. I have contacted my bank and they confirmed that the SWIFT transfer takes two to seven days. I also tried withdrew a larger amount of money via SWIFT from another exchange and it took only two days.

I asked the Compliance team about the status and when the money will be deposited to my bank account. Here's what they replied "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.". I find that the reply is not reasonable because:

1. In general, when you want to trace something, you would need to trace from the source not the destination. What the Compliance team told me is like asking me to trace my fund from the destination which is weird. What if the fund never leave the source in the first place? How can the destination bank trace the fund?

2. The Compliance team simply asked me to contact my bank without providing any support documents. How am I going to tell my bank that someone has already transferred the money to my bank account? It would be very difficult for the bank to believe me without any evidence.

3. Although, I think it is CEX.IO's responsibility to find out the status of my withdrawals (since you are one who provide services not me), I am willing to trace the funds by myself. Just give me documents showing that you have already transferred money to my bank account.

Dear Mbtctrade, please provide you ticket number, please accent our apologies for the delay. Thank you in advance!

My ticket number is 342266.

Dear CEX.IO,

It has been three weeks and I still am waiting for the money from my withdrawal initiated on 11 Sep 2017 while I have already received the money from the other withdrawal (initiated on 15 Sep 2017). Thank you for that. I find it strange that the money from the 3rd withdrawal arrived at my bank account before the one initiated earlier. At least it arrived at my bank account despite the fact that it took two weeks for the transfer.

Please help to follow up with the remaining withdrawal request. It has been three whole weeks!

[CEX]

Dear CEX.IO,

Seeing your post recently, I hope you could help me with my case.

I have initiated two fiat SWIFT withdrawals on 11 Sep 2017 and 15 Sep 2017. Both of them have been marked completed. It has been nearly three weeks for the first one and two weeks for the second but the money has not been deposited to my bank account. I have contacted my bank and they confirmed that the SWIFT transfer takes two to seven days. I also tried withdrew a larger amount of money via SWIFT from another exchange and it took only two days.

I asked the Compliance team about the status and when the money will be deposited to my bank account. Here's what they replied "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.". I find that the reply is not reasonable because:

1. In general, when you want to trace something, you would need to trace from the source not the destination. What the Compliance team told me is like asking me to trace my fund from the destination which is weird. What if the fund never leave the source in the first place? How can the destination bank trace the fund?

2. The Compliance team simply asked me to contact my bank without providing any support documents. How am I going to tell my bank that someone has already transferred the money to my bank account? It would be very difficult for the bank to believe me without any evidence.

3. Although, I think it is CEX.IO's responsibility to find out the status of my withdrawals (since you are one who provide services not me), I am willing to trace the funds by myself. Just give me documents showing that you have already transferred money to my bank account.

Dear Mbtctrade, please provide you ticket number, please accent our apologies for the delay. Thank you in advance!

My ticket number is 342266.

Dear CEX.IO,

It has been three weeks and I still am waiting for the money from my withdrawal initiated on 11 Sep 2017 while I have already received the money from the other withdrawal (initiated on 15 Sep 2017). Thank you for that. I find it strange that the money from the 3rd withdrawal arrived at my bank account before the one initiated earlier. At least it arrived at my bank account despite the fact that it took two weeks for the transfer.

Please help to follow up with the remaining withdrawal request. It has been three whole weeks!

Dear Mbtctrade, our my apologies for the delay in responding, you have detailed information on your withdrawal request details in your mail

[mbtctrade]

Dear CEX.IO,

Seeing your post recently, I hope you could help me with my case.

I have initiated two fiat SWIFT withdrawals on 11 Sep 2017 and 15 Sep 2017. Both of them have been marked completed. It has been nearly three weeks for the first one and two weeks for the second but the money has not been deposited to my bank account. I have contacted my bank and they confirmed that the SWIFT transfer takes two to seven days. I also tried withdrew a larger amount of money via SWIFT from another exchange and it took only two days.

I asked the Compliance team about the status and when the money will be deposited to my bank account. Here's what they replied "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.". I find that the reply is not reasonable because:

1. In general, when you want to trace something, you would need to trace from the source not the destination. What the Compliance team told me is like asking me to trace my fund from the destination which is weird. What if the fund never leave the source in the first place? How can the destination bank trace the fund?

2. The Compliance team simply asked me to contact my bank without providing any support documents. How am I going to tell my bank that someone has already transferred the money to my bank account? It would be very difficult for the bank to believe me without any evidence.

3. Although, I think it is CEX.IO's responsibility to find out the status of my withdrawals (since you are one who provide services not me), I am willing to trace the funds by myself. Just give me documents showing that you have already transferred money to my bank account.

Dear Mbtctrade, please provide you ticket number, please accent our apologies for the delay. Thank you in advance!

My ticket number is 342266.

Dear CEX.IO,

It has been three weeks and I still am waiting for the money from my withdrawal initiated on 11 Sep 2017 while I have already received the money from the other withdrawal (initiated on 15 Sep 2017). Thank you for that. I find it strange that the money from the 3rd withdrawal arrived at my bank account before the one initiated earlier. At least it arrived at my bank account despite the fact that it took two weeks for the transfer.

Please help to follow up with the remaining withdrawal request. It has been three whole weeks!

Dear Mbtctrade, our my apologies for the delay in responding, you have detailed information on your withdrawal request details in your mail

Dear CEX.IO,
Thank you for the information. I have checked my mail. The provided attachment only shows something like an internal record showing the date, my bank account no., my name and the amount of money. If you provide it to prove that you have already transfer the money to my account, I might believe that since I have already received money from the other withdrawal. But if you provide it for me to trace the money, I don't think I can use it since it is not an official transfer slip from a bank.

Right now, my main concern is when the money will be deposited to my bank account. It has been three weeks!

[thunderstorm]

Me too. My fiat withdrawal request has been pending since 2 weeks ago. 

[milagm]

Mr. CEX !
CAN YOU PLEASE EXPLAIN WHY YOUR COMPETITORS (KRAKEN.COM, GDAX.COM) CAN TRANSFER FIAT MONEY WITHIN 1-2 DAYS BUT YOU CAN'T (from you it will take something about 2-3 weeks) ?

[adamwalker13]

I'm in the same boat

Today will mark working day 14 since my withdrawal was 'confirmed'. Support have responded pretty quickly, but every message is just 'Please be patient'

What happens when it exceeds 20 days?

If there are delays, thats not a problem. I'd just like to know whats going on. At the moment I'm down 10000USD with no idea where they money is or when I'll receive it.

Did similar withdrawals on Kraken and it took about 3 days.

[CEX]

I'm in the same boat

Today will mark working day 14 since my withdrawal was 'confirmed'. Support have responded pretty quickly, but every message is just 'Please be patient'

What happens when it exceeds 20 days?

If there are delays, thats not a problem. I'd just like to know whats going on. At the moment I'm down 10000USD with no idea where they money is or when I'll receive it.

Did similar withdrawals on Kraken and it took about 3 days.

Can you please send your ticket to us so we can find out what is the problem? Thank you in advance!

[mbtctrade]

Dear CEX.IO,

Seeing your post recently, I hope you could help me with my case.

I have initiated two fiat SWIFT withdrawals on 11 Sep 2017 and 15 Sep 2017. Both of them have been marked completed. It has been nearly three weeks for the first one and two weeks for the second but the money has not been deposited to my bank account. I have contacted my bank and they confirmed that the SWIFT transfer takes two to seven days. I also tried withdrew a larger amount of money via SWIFT from another exchange and it took only two days.

I asked the Compliance team about the status and when the money will be deposited to my bank account. Here's what they replied "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.". I find that the reply is not reasonable because:

1. In general, when you want to trace something, you would need to trace from the source not the destination. What the Compliance team told me is like asking me to trace my fund from the destination which is weird. What if the fund never leave the source in the first place? How can the destination bank trace the fund?

2. The Compliance team simply asked me to contact my bank without providing any support documents. How am I going to tell my bank that someone has already transferred the money to my bank account? It would be very difficult for the bank to believe me without any evidence.

3. Although, I think it is CEX.IO's responsibility to find out the status of my withdrawals (since you are one who provide services not me), I am willing to trace the funds by myself. Just give me documents showing that you have already transferred money to my bank account.

Dear Mbtctrade, please provide you ticket number, please accent our apologies for the delay. Thank you in advance!

My ticket number is 342266.

Dear CEX.IO,

It has been three weeks and I still am waiting for the money from my withdrawal initiated on 11 Sep 2017 while I have already received the money from the other withdrawal (initiated on 15 Sep 2017). Thank you for that. I find it strange that the money from the 3rd withdrawal arrived at my bank account before the one initiated earlier. At least it arrived at my bank account despite the fact that it took two weeks for the transfer.

Please help to follow up with the remaining withdrawal request. It has been three whole weeks!

Dear Mbtctrade, our my apologies for the delay in responding, you have detailed information on your withdrawal request details in your mail

Dear CEX.IO,
Thank you for the information. I have checked my mail. The provided attachment only shows something like an internal record showing the date, my bank account no., my name and the amount of money. If you provide it to prove that you have already transfer the money to my account, I might believe that since I have already received money from the other withdrawal. But if you provide it for me to trace the money, I don't think I can use it since it is not an official transfer slip from a bank.

Right now, my main concern is when the money will be deposited to my bank account. It has been three weeks!

Dear CEX.IO,

According to our discussion via ticket #342266, the Finance Team asked me to wait until 9 Oct 2017 to see if I will received the money. And if I don't you will initiate the investigation process with the bank. I then wait. But somehow about 6 hours ago, my ticket was closed/resolved. Please note that you should not have done that since I have not confirmed that I received the money. I have been waiting for nearly a month (25 days or 19 banking days to be exact) for the payment. Still not received it and you just closed my ticket without asking me? What can I say here? Please don't do that again until I receive my money. I would suggest you start the investigation process now since I anticipate that I wouldn't received the money by 9 Oct 2017.

[aphexer]

@mbtctrade, @ARTHurt, their website does mention it takes 20 banking days for a SEPA withdrawal. Though that's ridiculously long, I'm curious to understand if it's just a matter of patiently waiting for it, or if these transfers sometimes really don't come through and requires a lot of back and forth to get it rectified?

Did anyone here ever got in a situation where the money was not recovered? I.e. let's say after 2 months you still didn't get a resolution?

[dekana]

Ask CEX.io for the Swift MT103 confirmation letter. This can be produced by their sending bank.

This is a letter that you can then take to your receiving bank to try to find the funds.

CEX.io can only provide this for you if they've actually sent the money.

They might charge you for this though. Good luck

[emregungor]

Thank cex comed my money