MTGOX has not paid us since 26th of June!

[theswisspharmacy.com]

MTGOX.com has not paid us since 26th of June, have others also experience the same with them?

Dear Bitcoin community, we instructed MTGOX.com on 26th of June 2013 to pay out USD 1,954.
We have still not been paid, we contacted them several times, but we have just received the same excuse that their bank is delaying the payout, please read the correspondence below. (Text in the ticket starts at the bottom).
We are very concerned, as we now have more funds with MTGOX, they are supposed to be the leaders in trading Bitcoins, but I guess we have to leave them if they don’t pay out. Can anyone suggest a good alternative to MTGOX?



not acceptable for us, we expect payment by the 30th July, if not received we will terminate our account and post this case in several forums.
Please don’t hesitate to contact us for any questions you may have.
 
With best regards
 
Urs Moeckli
 
Swiss Enterprises Ltd.
20 Rue Adrien Lachenal
1207 Geneva
Switzerland
info@theswisspharmacy.com
Tel. +41-22-5883001 Fax +41-22-5802789
www.theswisspharmacy.com
 
________________________________________
From: Nancy <notifications-info@mtgox.com>
Date: Thu, 25 Jul 2013 06:17:03 +0000
To: Urs Moeckli<info@theswisspharmacy.com>
ReplyTo: Support Desk <info@mtgox.com>
Subject: [Support Desk] Re: Withdrawal - USD - 26.6.2013 (ticket #103171)

## Please do not write below this line ##
Ticket #103171: Withdrawal - USD - 26.6.2013


Your request (#103171) has been updated.
To review the status of the request and add additional comments, follow the link below:
http://support.mtgox.com/tickets/103171
You can also add a comment by replying to this email.
________________________________________

Nancy, Jul 25 15:17 (JST):
Hello,
Thank you for contacting us regarding your withdrawal request.
Due to a change in our banking system we are currently experiencing a back-log of withdrawals that we need to process.
Our team is working hard to increase transaction speeds, but there is approximately a two-week back-log we need to overcome.
It will take a few weeks to get back to normal, and we thank you for your patience during this time.
Again, we apologize for the delay and we will contact you once your withdrawal has been processed.

Best regards,
Mt.Gox Team
https://www.mtgox.com
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]
________________________________________

Michael Support, Jul 25 11:50 (JST):
Request #106554 "We did not receive payment from ..." was closed and merged into this request. Last comment in request #106554:
Dear Nancy,
Again 9 days passed, and we did not receive your payment.
As we are now waiting for 1 month, this is not acceptable any longer, we herewith inform you that we will wait till 30th of July for your payment.
If we do not receive your payment by then, we will take the following steps:
1) We will no longer use your service and will work with one of your competitors.
2) We will post this case in the Bitcoin forums, where we are active members and reach out to many of your customers.

With best regards
Urs Moeckli
Managing Director
Swiss Enterprises Ltd.
20 Rue Adrien Lachenal
1207 Geneva
Switzerland
billing@theswisspharmacy.com
Tel. +41-22-5883001 Fax +1-888-3388908
www.theswisspharmacy.com



From: Nancy [mailto:notifications-info@mtgox.com]
Sent: Samstag, 13. Juli 2013 08:57
To: Urs Moeckli
Subject: [Support Desk] Re: Withdrawal - USD - 26.6.2013 (ticket #103171)
## Please do not write below this line ##
Ticket #103171: Withdrawal - USD - 26.6.2013

Your request (#103171) has been updated.
To review the status of the request and add additional comments, follow the link below:
http://support.mtgox.com/tickets/103171
You can also add a comment by replying to this email.
________________________________________
Nancy, Jul 13 15:57 (JST):
Hello,
Thank you for the email. As USD withdrawals were suspended for a week and resumed as per press release
https://mtgox.com/press_release_20130704.html
The increased volumes of withdrawals has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers.
Management is working to improvise and also bring in more withdrawal options. We would appreciate your patience and understanding in this regard.
I'll track the withdrawal and will sure update you once processed.
Best regards,
Mt.Gox Team
https://www.mtgox.com
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]
________________________________________
Urs Moeckli, Jul 13 14:51 (JST):
Dear Support,
we notreceived the below payment from you.
(1 page, 34 results) 1
2013/06/26 00:26:16 Withdraw Status: confirmed $1,954.00000 $0.82363
Withdraw to account BARCLAYS BANK (SEYCHELLES) LTD
------------------
Submitted from: https://mtgox.com/trade/account-history?currency=USD
________________________________________

Urs Moeckli, Jul 22 19:38 (JST):
Dear Nancy,
Again 9 days passed, and we did not receive your payment.
As we are now waiting for 1 month, this is not acceptable any longer, we herewith inform you that we will wait till 30th of July for your payment.
If we do not receive your payment by then, we will take the following steps:
1) We will no longer use your service and will work with one of your competitors.
2) We will post this case in the Bitcoin forums, where we are active members and reach out to many of your customers.
With best regards
Urs Moeckli
Managing Director
Swiss Enterprises Ltd.
20 Rue Adrien Lachenal
1207 Geneva
Switzerland
billing@theswisspharmacy.com
Tel. +41-22-5883001 Fax +1-888-3388908
www.theswisspharmacy.com (http://www.theswisspharmacy.com/)
________________________________________

Nancy, Jul 13 15:57 (JST):
Hello,
Thank you for the email. As USD withdrawals were suspended for a week and resumed as per press release
https://mtgox.com/press_release_20130704.html
The increased volumes of withdrawals has made it difficult for our bank to process the transactions smoothly and within a timely manner, which has created unnecessary delays for our global customers.
Management is working to improvise and also bring in more withdrawal options. We would appreciate your patience and understanding in this regard.

I'll track the withdrawal and will sure update you once processed.
Best regards,
Mt.Gox Team
https://www.mtgox.com
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]
________________________________________

Urs Moeckli, Jul 13 14:51 (JST):
Dear Support,
we notreceived the below payment from you.
(1 page, 34 results) 1
2013/06/26 00:26:16 Withdraw Status: confirmed $1,954.00000 $0.82363
Withdraw to account BARCLAYS BANK (SEYCHELLES) LTD
------------------
Submitted from: https://mtgox.com/trade/account-history?currency=USD


This email is a service from Support Desk.

Message-Id:F9MMMH81_51f0c2dfa95db_6d8434c08891478b_sprut

[tiptopgemdotcom]

This is a huge problem.  When you run a business, you expect that your partners will act with integrity.  Here is what they have to say:

“It currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7-10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

“The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps — hopefully we will not only be back where we were before we encountered these issues, but much further ahead.”




This is simply a lie.  If what they are saying is true, then in 20 days you would be paid.  Obviously Swiss Enterprises has not been paid within 20 days and there are others on this forum in a similar situation.  This needs to stop.  All signs point to liquidity problems at Mtgox and this destroys confidence in bitcoin as a whole.

[solex]

The prudent option is to buy coins on MtGox, transfer them to Bitstamp, sell and retrieve your funds.
This loses close to 10%, but is better than nothing if the fiat is needed.

If you can't afford to lose as much as 10%, withdraw the coins from gox and try selling on localbitcoins.com

[zby]

This is a huge problem.  When you run a business, you expect that your partners will act with integrity.  Here is what they have to say:

“It currently takes up to 10 days to process a deposit because our bank, upon receiving deposits, notifies us of the deposit but holds them for 7-10 days before transferring them to our account. This has always been the case, and we were still crediting customer accounts before receiving the funds ourselves, but some cases in which the bank subsequently rejected the deposits meant that we incurred significant losses.

“The risk is now too high for us to credit accounts prematurely. We are in the process of forming relationships with new partners, banks, and taking other steps — hopefully we will not only be back where we were before we encountered these issues, but much further ahead.”




This is simply a lie.  If what they are saying is true, then in 20 days you would be paid.  Obviously Swiss Enterprises has not been paid within 20 days and there are others on this forum in a similar situation.  This needs to stop.  All signs point to liquidity problems at Mtgox and this destroys confidence in bitcoin as a whole.

Actually the above is about deposits not withdrawals - most probably it is technically not a lie - but it is sure misleading.

[ronaldlee0917]

I received the same copy-and-paste replies from their support, their support is closed to useless, I gave up eventually and pray my money will reach me eventually.

[EuroTrash]

Can anyone suggest a good alternative to MTGOX?

Search the forum. BitStamp SEPA transfers work fine. Switzerland is SEPA member.

BitStamp exchange is priced in USD but they only receive/send EUR via SEPA. So all their transfers are converted to EUR although they use ECB reference rates so they take no extra cut out of the conversion* - but your bank might take an additional conversion fee for transfers in a foreign currency. So you might want to open a bank account in EUR which I'm sure is possible in Switzerland.

* anyone correct me if I'm wrong here.

[LukePFS]

Well, I have to laugh....not because I don't take your side seriously, but my DEPOSIT took 23 days.....

Good luck with your future business with GOX, I consider another service in the future.....

[zeroday]

Since Gox has legal troubles in the US, probably any USD transfer from/to gox may be delayed/cancelled by US intermediary bank.
Every international USD transfer goes through US bank which has power to block it.
Any bank dealing with USD must comply with US "international" regulations. Any USD transfer is under control by intermediary US banks.

[theswisspharmacy.com]

Thank you all, for your feedback.

Today we informed MTGOX about this post please see the reply below.

“Eiden, Aug 06 20:45 (JST):
Hello,
Thank you for waiting and sorry for delay. We are processing the withdrawals manually. We are still working with our bank to have the issues sorted and we expect to have this sorted out soon.
Processing manually it involves lot of man power and time and we are doing our best to do this and your withdrawal should be processed soon.
You still have the option to cancel your withdrawal and send the funds to your account. Please let us know if you have an idea to this.
Best regards,
Mt.Gox Team
https://www.mtgox.com
[Attention: Please protect your account using OTP to ensure that your funds are safe and secure. Failing to do so makes your information vulnerable to hackers.
Please visit https://mtgox.com/security]“

As far as I understand, this means we can cancel the withdrawal and get back to the same status as we had on 26st of June, they must be kidding, unbelievable!

[joesmoe2012]

I've been waiting since June 16th (I had another wire from June 12th that I cancelled last week.

[CYPER]

Do you know if it's possible to withdraw to a bank account under different name or it has to be in the name of the MTGox account holder?

Also do you use IBAN or SWIFT/BIC as these are 2 separate options in their new Withdrawal Center.

[joesmoe2012]

Same name.

[TimJBenham]

As far as I understand, this means we can cancel the withdrawal and get back to the same status as we had on 26st of June, they must be kidding, unbelievable!

Use Bitstamp. MtGox is a joke. You think you've had it bad? I've been waiting since 13th June!

[tiptopgemdotcom]

This is completely unacceptable.

[joesmoe2012]

Still another day of nothing.

[MPOE-PR]

MTGOX.com has not paid us since 26th of June, have others also experience the same with them?

Pretty much everyone.

[zeroblock]

Since Gox has legal troubles in the US, probably any USD transfer from/to gox may be delayed/cancelled by US intermediary bank.
Every international USD transfer goes through US bank which has power to block it.
Any bank dealing with USD must comply with US "international" regulations. Any USD transfer is under control by intermediary US banks.

Yep.  This is what has been the problem since withdraw freezes were first announced.  There isn't a problem with their bank in Japan, there is a problem with US banks refusing to work with Gox, which cannot be solved "in 2 weeks."

[bitcon]

i've been waiting since. 14th of june.  the last WD i got was june 03, so between June third and 13th is when the issue arose.  i just hope i can get my USD refunded and turned back into coins. royally goxxed.

basically i paid a fee to have my coins converted to USD. now i'll have to pay another fee to get my USD converted back to BTC, and when i get the coins onto another exchange i'll pay another fee to get the btc back to USD.  thanks a lot gox. there should be a way to cancel the original sales, because if i knew they were going to defraud my $$ it would have saved me a lot of time and money.

[Seth Otterstad]

There is no excuse to continue using Mtgox unless you need to cash out over 100k

[bracek]

Dear Mt. Gox are you insolvent? If not, then WTF?[/b]

they probably got some kind of warning,
applied for permits and now we are all waiting for that permit(s),

they don't want to make any sending action because that would make them look like money transmitters