Mt Gox now adding 1 week processing time to Wire Transfer withdrawals

[dave111223]

Processed after 6 days

Seriously they need to come out with some kind of explanation as to why they are taking 6 days to click "Send" at their bank...

P.S. Can someone please deposit some USD at Gox so that they can process my next transfer

[szita2000]

I am still waiting on a transfer for Ireland. Initiated on the 23rd of May, almost a month, and it is not even processed yet!!!

[joesmoe2012]

I received USD 1 day after withdrawing last week, early in the week. Still waiting on a withdraw from Wed, Thurs, Fri, and mon.

Something is amiss.

[EPiSKiNG]

I received USD 1 day after withdrawing last week, early in the week. Still waiting on a withdraw from Wed, Thurs, Fri, and mon.

Something is amiss.

Agreed.  Waiting on large withdraw from Friday (Japan time) of last week.
-EP

[EPiSKiNG]

According to: https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

Withdrawals
Wire transfers are currently taking up to 1 week to process due to the volume of withdrawal requests in queue.

If your withdrawal is larger than 10,000 USD (equivalent), it will take at least 2 weeks to process.

Withdrawals typically take 2-5 full business days to reach your bank, provided that you have included all required information such as your full name and address as it appears on your bank statement.

Mizuho bank charges a fee of 2,000 Yen for the withdrawals.

Here's my Support chat log:

Linda Support, Jun 19 00:49 (JST):
episking has joined the room

Linda Support 20:29:
Welcome to Mt.Gox Live Chat Support

episking 20:29:
Wire Withdrawal Delay Specifics

episking 20:29:
Hello there

Linda Support 20:29:
Hello, how may I assist you today?

episking 20:29:
I was told in a support ticket that my wire withdrawal would be delayed for 2-5 business days

episking 20:29:
I have read a statement about delays in SEPA transfers

episking 20:30:
but have seen no information regarding delays in Wire transfers...

episking 20:30:
can you tell me if the 2-5 business days is from the time I initate the withdraw

Linda Support 20:31:
not to worry, I will try my best to help you.

Linda Support 20:31:
Could you please provide the account number or account username to proceed further?

episking 20:31:
(ACCOUNT INFO)

episking 20:32:
Mostly, I'd like to know WHY bank wires are delayed

Linda Support 20:33:
Thank you for the information.

Linda Support 20:33:
May I place you on hold while I check your records?

episking 20:33:
certainly

Linda Support 20:38:
Thank you for being on hold.

episking 20:39:
of course

Linda Support 20:39:
On checking I can see that you have made a withdrawal on 2013-06-17 for $X.

episking 20:40:
Well, actually, I made a withdrawal on 2013-06-13 for $X

episking 20:41:
but it didn't go through, so I assumed there was something wrong, and re-initiated it

Linda Support 20:42:
It appears that our bank is still in the middle of processing the funds, and we will keep you updated once the transactions is processed.

episking 20:42:
your bank is?

episking 20:43:
The status still shows "Confirmed". The wires instructions aren't sent to the bank until it shows "Processed"

episking 20:43:
wire transfers are instant.

Linda Support 20:43:
All the withdrawals are queued and will be processed according to the queue. Once your queue is reached, the withdrawal will be processed and I will update you on this.

episking 20:43:
Queue?

episking 20:44:
Is the bank limiting the amount of transfers you can hav?

episking 20:44:
I've been a gox customer with large withdrawals for over a year, and I've never heard of a "queue" for wire transfers....

Linda Support 20:44:
Our bank has a daily withdrawal limit to send out. Therefore, we cannot send more than the limit per day. Our apologies for the inconvenience caused.

episking 20:45:
will you ensure that I am given priority, since my first withdrawal was scheduled for 6/13

Linda Support 20:45:
Not to worry, I will keep you updated on the withdrawal as soon as possible.

episking 20:46:
also, is there a way to know my place in line for future withdrawals?

episking 20:46:
it has NEVER taken longer than 1 business day

Linda Support 20:46:
I am sorry to inform you that our bank do not provide queue number for the withdrawals.

episking 20:46:
but the wire instructions haven't been submitted to the bank yet!

Linda Support 20:46:
We apologize for the inconvenience caused.

episking 20:47:
the queue is on Gox's end

episking 20:47:
not on the bank

Linda Support 20:47:
The withdrawal is queued to the bank for processing funds.

episking 20:49:
ok. So since I canceled my withdraw from 6/17 and re-initiated it, I've been placed back at the end of the queue?

Linda Support 20:50:
Once your queue is reached, the withdrawal will be processed and I will keep you updated.

episking 20:50:
I need a better estimate for the processing

Linda Support 20:51:
We do not have any ETA at this time and we apologize for the delay. We are expecting the withdrawals to be cleared soon and we will update you as soon as possible.

episking 20:51:
do you expect the withdraw queue to be flushed all at once? or will it be a trickling effect?

episking 20:52:
I would rather have money available to buy bitcoins than keeping it tied up in limbo.

Linda Support 20:53:
We prioritize withdrawals as per the requested date and at times the smaller withdrawals get processed sooner because the value is less.

Linda Support 20:53:
If we have a fewer limits left for a day and if the value of the withdrawal as per the queue is high the system will process the next withdrawal that matches with the limits available. We will update you as soon as possible regarding your withdrawal.

episking 20:53:
what is the daily limit?

Linda Support 20:53:
Our bank do not provide the daily limits.

episking 20:54:
what?

episking 20:54:
the bank doesn't give you a limit?

episking 20:55:
?

Linda Support 20:55:
We are not supposed to reveal any of the information as per the company policies.

episking 20:55:
Ok

episking 20:56:
Has the limit been decreased lately?

episking 20:56:
I'm just trying to understand why there is all of the sudden a delay...

Linda Support 20:56:
We are already in the process of increasing the withdrawal limit which we are expecting to be complete in the coming weeks. So please give us some time and the withdrawal should be processed soon.

episking 21:01:
Gox should be more transparent about alerting their customers about these issues before they start making plans

episking 21:01:
as it stands, I ordered cash from my bank expecting this wire

episking 21:01:
now the bank is going to be angry with me that the money isn't there

episking 21:01:
had I known last week when I started the withdrawal that it would take over a week, I wouldn't have requested the money from the bank

episking 21:02:
This is a serious problem...

Linda Support 21:02:
We understand that the delay has been unacceptable. We will keep you updated once the withdrawal is processed.

episking 21:02:
the delay is acceptable

episking 21:03:
the lack of communication regarding the delay is NOT

Linda Support 21:04:
For your information, Wire transfers are currently taking up to 1 week to process due to the volume of withdrawal requests in queue.

episking 21:05:
and this is with Mizuho also? Not just the Polish/EU bank?

Linda Support 21:05:
You may refer the link https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits for more details.

episking 21:06:
I don't see any information in that link regarding delays for wire transfers....

episking 21:06:
wait

episking 21:06:
Wire transfers are currently taking up to 1 week to process due to the volume of withdrawal requests in queue. If your withdrawal is larger than 10,000 USD (equivalent), it will take at least 2 weeks to process.

episking 21:06:
so... my wire is going to take 2 weeks?!??!!?

Linda Support 21:08:
It depends upon the queue of the withdrawals.

Linda Support 21:09:
We will keep you updated on this.

Linda Support 21:09:
Is that okay?

episking 21:10:
so, you can't say what place i am in line, you can't say how much the daily limit is, and you can't tell me a good estimate of when the wire will be submitted...

episking 21:11:
is that correct?

Linda Support 21:11:
On checking your withdrawal has reached the "confirmed" status and we will keep you updated once the withdrawal is processed.

Linda Support 21:11:
If you wish you may cancel the withdrawal.

episking 21:12:
right, but then I loose my place in line again, right?

Linda Support 21:12:
Yes Eric.

episking 21:14:
I'll just leave it the way it is

episking 21:14:
can I get an updated ETA for processing

Linda Support 21:14:
We will surely update you on this once it is processed.

episking 21:16:
ok

episking 21:16:
Thank you for being the most awesome company in the world.

episking 21:16:


Linda Support 21:16:
You are welcome.

Linda Support 21:16:
Is there anything else I can assist you with today?

episking 21:19:
No thank you.

Linda Support 21:19:
Its been a pleasure assisting you today.

Linda Support 21:19:
Thank you for contacting Mtgox chat support. Have a nice day.

Linda Support 21:19:
Good bye.

[bystander]

Thanks EPiSKiNG for posting the support chat log, it sheds some light on why my last wire transfer request / withdrawal is still in the "confirmed" stage.  It was requested early last week and it still hasn't budged.   My colleague is guessing that MtGox probably invested the funds in the Nikkei which got hosed recently, so they have some issues.

Please post an update whenever your status changes or when you have received funds.  

[szita2000]

27 days after initiating the withdrawal for international wire transfer on 23.05 (EUR to Ireland) the status is still confirmed...

There is NO QUEUE as I initiated a small 110 Euro withdrawal after the first big one ON 05.06 IT HAS ARRIVED IN 2 DAYS!

THAT IS DEFEATING THE FACT THAT THERE IS A QUEUE.
Where is MtGox, to answer these question?

We are talking about a service they providing here, which we payed for it in advance (fees) and yet the service is delayed to an unknown time.

[szita2000]

Hi Guys. I am waiting 27 days for a withdrawal of 2400 euro from MtGox account. As I mentioned earlier this transaction is still in "confirmed" stage since the 23rd of May. however I made another withdrawal on the 5th of Jun, for 110$ which has arrived in 2 days.

This is the session that I had with MtGox support today.

To be honest it is worrying, but I will let you decide.



Linda Support, Jun 19 20:26 (JST):
Szita2000 has joined the room

Linda Support 16:12:
Welcome to Mt.Gox Live Chat Support

Szita2000 16:12:
Withdrawal requested 27 days ago, the status of the transaction is still only "confirmed"

Szita2000 16:12:
Hi Linda.

Linda Support 16:12:
Hello, This is Linda from Mtgox chat support. How may I assist you today?

Szita2000 16:13:
As you can see from my question I requested a withdrawal 27 days ago, on the 23.05, and it is still not processed.

Szita2000 16:13:
Can you advise please?

Linda Support 16:13:
Not to worry, I will try my best to help you.

Szita2000 16:13:
Sure.

Linda Support 16:13:
Could you please provide the account number or account username to proceed further?

Szita2000 16:14:
sure. the account number is M41272125X

Linda Support 16:14:
Thank you for the information.

Szita2000 16:14:
np

Linda Support 16:14:
May I place you on hold while I check your records?

Szita2000 16:14:
Sure.

Linda Support 16:20:
Thank you for being on hold.

Szita2000 16:20:
no problem.

Linda Support 16:20:
On checking I can see that you have made a withdrawal on 2013-05-23 for amount 2,400.00000 €.

Szita2000 16:21:
Yes. that's correct.

Szita2000 16:21:
That was 27 days ago.

Linda Support 16:21:
It appears that our bank is still in the middle of processing the funds, and we will keep you updated once the transactions is processed. We apologize for any inconvenience this may cause.

Szita2000 16:21:
Sorry Linda but I can not accept that answer.

Szita2000 16:22:
The reason for that is if you check my account you can see that there is another withdrawal made on the 05.06 and that has been processed in 2 days.

Linda Support 16:22:
I apologize for the inconvenience caused. We are expecting the withdrawals to be cleared soon and we will update you as soon as possible.

Szita2000 16:22:
Can you explain why is the status of the transaction is still only confirmed?

Linda Support 16:23:
Usually, it is the last stage before it gets processed.

Szita2000 16:24:
SUre. I would like to make a complaint against MtGox. Can you please give me the name of the regulator in Japan, who is regulating the financial operation of MtGox?

Szita2000 16:25:
I hope you appreciate it, that you are handling my assets, and we have a contract between us.

Szita2000 16:25:
This is in the terms and coonditions.

Szita2000 16:26:
we have both accepted the terms and conditions and you are clearly in violation of it. I am not happy about the delay you causing so I would like complain.

Linda Support 16:27:
We understand how difficult it is to have the funds not processed for these many days

Linda Support 16:27:
We have already contacted our bank to increase the withdrawal limits

Szita2000 16:27:
Sure Linda. Can I have the contact details of the regulatory body please?

Linda Support 16:28:
We have an alternate option of cancelling the withdrawal and get the funds through the International transfer

Szita2000 16:28:
Sorry but I think that this is an international transfer. I given my Swift Code and IBAN number.

Szita2000 16:28:
So clearly there is something not right on your end.

Linda Support 16:29:
no this is a EURO transfer which we have already stated that we have been having issues with

Linda Support 16:29:
Intenrational transfers will be completed within a week

Szita2000 16:30:
Linda. I don't mind paying the fees for an international transfer but I need to get these funds from my account. Can you provide me detailed instructions on how to set up the international wire transfer please?

Linda Support 16:31:
Of course.

Linda Support 16:31:
TO LINK A BANK ACCOUNT FOR INTERNATIONAL WIRE - Login to your Mt.Gox Account - Go to funding option then click Withdraw funds. - Select "Bank Transfer" under the Available withdraw methods - Click on "Add Withdraw Method - On " Withdrawal Center Wizard" Select "Bank Transfer" - Click on Bank Transfer - Then enter your bank's IBAN or SWIFT /BIC code on the " Withdrawal Center Wizard" Click on Next - On the next Screen you will have to Enter your Bank Details listed below : Bank Name: "Will be automatically updated with reference of your bank's SWIFT /BIC Code" Bank Number: Label: Transfer Type: " Should be International"

Linda Support 16:32:
Please let me know whether you need to cancel the withdrawal made so that you can request withdrawal through Inetrnational transfer.

Szita2000 16:33:
Thanks for that, I do think that this is what I set up already. Can you check that for me please?

Linda Support 16:34:
On checking I can see that you have added a bank account BANK OF IRELAND INTERNATIONAL BANKING with Transfer type "euro".

Linda Support 16:35:
The withdrawal has been made through "euro".

Szita2000 16:35:
Yes. so that IS and international transfer. not?

Szita2000 16:35:
Since I am in Ireland the only account I have is in euro, but, the second transfer of the 100 euro reached me in 2 days.

Linda Support 16:36:
You will have to add the bank account with Transfer type "International" in order to withdraw funds through international wire transfer.

Szita2000 16:37:
Sorry you confusing me. both methods of IBAN or SWIFT are for international transfers. is that correct?

Linda Support 16:39:
Yes of course.

Linda Support 16:40:
You may add the same bank account with transfer type "International".

Szita2000 16:40:
That is what I have setup.

Szita2000 16:40:
And received money through it.

Szita2000 16:40:
in 2 days.

Szita2000 16:40:
Is that correct?

Linda Support 16:41:
You have made 2 withdrawals on 05 Jun 2013 and 04 Apr 2013 and has been processed through transfer type "euro".

Linda Support 16:42:
You may either wait for the withdrawal to be processed or cancel the withdrawal made on 2013-05-23 and request withdrawal through transfer type "International".

Szita2000 16:42:
Yas. and the second one arrived in 2 days. I need an explanation on why a much earlier withdrawal is not came through to my accont.

Linda Support 16:43:
All the withdrawals are queued and will be processed according to the queue. Once your queue is reached, the withdrawal will be processed.

Szita2000 16:45:
Linda. you are contradicting yourself by saying that there is a queue. you have stated above that I have made 2 withdrawals. in the past month. one in 27 days ago and one in about 14 days ago, and from those withdrawals the latest one come through. Can you explain that if you have a queue how come that the later made withdrawal is in my acocunt and the one waiting for 27 days is not?

Szita2000 16:45:
And please be careful what you stating.

Linda Support 16:47:
I apologize for the inconvenience caused and I can certainly understand how hard it is to wait for the funds withdrawn. We prioritize withdrawals as per the requested date and at times the smaller withdrawals get processed sooner because the value is less.

Linda Support 16:47:
If we have a fewer limits left for a day and if the value of the withdrawal as per the queue is high the system will process the next withdrawal that matches with the limits available.

Szita2000 16:48:
Sure. I was expecting that, however I have to refer back to the contract that is exist between us, and of which you are violating now.

Szita2000 16:48:
Can you please give me the contact details of the regulatory body of your company in Japan.

Szita2000 16:49:
I believe this will be the Tokyo Chamber of Commerce, for the general operation of your company, but for the financial regulator I need details.

Linda Support 16:50:
I am sorry to inform you that we are not supposed to reveal any information as per our company policies.

Linda Support 16:50:
I will have this forwarded to our management team and they will contact you back.

Szita2000 16:51:
Sorry, but I am not happy with that. Can you get your manager on the chat right now please?

Linda Support 16:53:
We will forward the ticket right away and they would update you on this. Unfortunately they would not be able to assist through the chat.

Linda Support 16:53:
Please wait and we will contact you at the earliest

Szita2000 16:53:
Sure, but you should have the contact details of where I can place a complaint. Can I have that please?

Linda Support 16:55:
They are done only through the support tickets. The entire chat conversation will be created as a ticket and forwarded to them

Szita2000 16:55:
Linda. Please be aware that this chat thread will be an evidence in lght of my complaint. You not also violating the contract between you and me, but you are now refusing to provide me details on your regulatory body. Please be aware of that.

Linda Support 16:55:
I will personally follow up with this and ensure that you get the update on this

Linda Support 16:55:
We are not refusing. It will be forwarded to the concerned personnel and your issue will be addressed

Szita2000 16:55:
Sorry to give you hard time Linda, I know that you are only following policy, and I much appreciate this.

Linda Support 16:56:
Thank you

Linda Support 16:56:
Please wait for the update

Linda Support 16:56:
Thank you for using the MT Gox chat support

At this point they simply closed the chat.

[joesmoe2012]

I love how all these conversations with support take like 30 minutes. And is it with the same person none the less?

I would post my logs here, but none of them are any more constructive than any other support gox has given out.

[zeroblock]

Just reaffirms the same lies that are being circulated by Gox now.