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Author Topic: Mt. Gox Dwolla Withdrawl Delays  (Read 994 times)
padrino
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July 02, 2011, 12:51:36 AM
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Anyone else battling any issues trying to get a Dwolla withdrawl from Mt. Gox? I see a note on Liberty delays but I'm having similar issues with a Dwolla withdrawl, no more then a "few hours" per their site but nothing. With the pattern on the site I wonder if a number of people are working to pull cash out.

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Seraphim401
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July 02, 2011, 01:32:02 AM
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Seems like they are having problems with all of their funding methods.

Nagle
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July 02, 2011, 03:24:17 PM
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Seems like they are having problems with all of their funding methods.

As I've pointed out before, difficulty getting money out of a broker/dealer/exchange/pool is a classic big red flag of trouble. If Mt. Gox is legit, and really has every dollar of customer money that's on deposit with them, withdrawals should never be a problem. They should, at all times, be able to pay everyone off.
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July 02, 2011, 06:36:46 PM
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Seems like they are having problems with all of their funding methods.

As I've pointed out before, difficulty getting money out of a broker/dealer/exchange/pool is a classic big red flag of trouble. If Mt. Gox is legit, and really has every dollar of customer money that's on deposit with them, withdrawals should never be a problem. They should, at all times, be able to pay everyone off.
From their support site:

- June 21, 2011 -

We have been receiving reports of severely delayed withdraws to countries in the SEPA region. It appears that the volumes of transactions being handled by our bank in France is exceeding our daily limits, which seems to be holding things up. We are working to get these limits raised both for our daily/weekly/monthly volumes. We apologize for any delays in processing.


Does that seem plausible?

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July 02, 2011, 07:33:48 PM
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From their support site:

- June 21, 2011 -

We have been receiving reports of severely delayed withdraws to countries in the SEPA region. It appears that the volumes of transactions being handled by our bank in France is exceeding our daily limits, which seems to be holding things up. We are working to get these limits raised both for our daily/weekly/monthly volumes. We apologize for any delays in processing.

Does that seem plausible?
Up until the last sentence, yes. That should have been instructions on how to use some other means of money transfer, and a statement that Mt. Gox was absorbing the fees for the alternative method, since their failure to make proper banking arrangements was causing others not to receive payment.

In the last few weeks, Mt. Gox has blamed Liberty Reserve, some unnamed bank in France, Dwolla, and their previous owner for delays in transferring money out. That's why I suspect they don't really have the cash.
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