Could not withdraw fiat from MtGox - had to move to Bitstamp.

[eggshen]

Hey all,

Just wanted to share my experiences with MtGox.

I bought BTC on MtGox in March 2013, held and finally sold in mid June (at a slight loss).  

I initiated 3 withdrawals for a total of $26,000 USD between June 15-19, and none of them went through.

I waited for 7 weeks, sending their support staff an email a week, trying to get an update on the status of my transactions.
Every time they simply closed my support ticket without an explanation!

Finally, by the end of July, after reading a bunch of threads on this forum I cancelled my withdrawals at MtGox and immediately
purchased BTC again. I then moved all BTC to Bitstamp, got my identity and address verified within 24 hours, then sold all BTC
and withdrew all the money...  It's now been 3 business days since I received a confirmation email from Bitstamp, saying my
transaction has been processed.

I'll update this post as soon as I receive the money. Fingers crossed.

Needless to say, I'll NEVER use MtGox again. More people ought to drop them like a hot potato imho.

Cheers.

UPDATE:
Received the money from Bitstamp this morning. My withdrawal was confirmed by them on August 1st,
transferring the money into my bank account in Thailand. It took 4 whole business days as stated in their FAQ.
All is well.

[Mooshire]

Kudos for dropping mtgox.

[gamboler]

This is a common MtGox experience.  I believe it's also why the BTC/USD rate is inflated there relative to other exchanges: people resorting to buying back BTC after they failed to withdraw USD!

For the record though, some people do manage to withdraw their USD, including (eventually) me.  I gather there are some banks they have more trouble withdrawing to than others, including Citibank - unfortunately one of the most common intermediaries in transfers from Japan.  Not very reassuring.  I too wish the best of luck to Bitstamp, had only good experience with them so far.

Jacob

[w0lverine]

this is kind of big news, I thought Mt gox had resolved all their transactions issues.
Do keep us updated.