Lets say you had a friend outside the USA ... (re: Mt.Gox)

[BittBurger]

So lets say I have a friend in Costa Rica who just offered to open a bank account for me under a corporation that would be (legally) created, so that I could withdraw from Mt. Gox.

Would that be a feasible option?

My portfolio is *monstrously* larger on Gox across all my coins, than it is on Coinbase .... the only place I can withdraw from because I live in shitty USA.

Any efforts resulting in Gox trade price withdrawal would be worth my time and effort ....

Same question for China:

What if you could simply spend $600, fly there, open a bank account, and take advantage of their $1100 USD trade price?

That would be even bigger.

(Just referring to the final cash-out, when the time comes)

Thanks for any insight.

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[joesmoe2012]

A shanghai or hong kong bank account would not assist you in making withdraws from mtgox. The issue is with sending SWIFT wires anywhere, so you need a domestic bank account either in Japan or in Poland if you want quicker withdraws without paying the 5% SWIFT withdraw fee.

If you're going to pay the 5% SWIFT withdraw fee, MtGox will send you're USD wires to America without issue. The queue for SWIFT transfers is no shorter inside the US than outside.

Best of luck to ya.

[AndrewWilliams]

A shanghai or hong kong bank account would not assist you in making withdraws from mtgox. The issue is with sending SWIFT wires anywhere, so you need a domestic bank account either in Japan or in Poland if you want quicker withdraws without paying the 5% SWIFT withdraw fee.

If you're going to pay the 5% SWIFT withdraw fee, MtGox will send you're USD wires to America without issue. The queue for SWIFT transfers is no shorter inside the US than outside.

Best of luck to ya.

So how long does a typical SWIFT transaction usually take to process?

[Sukrim]

The transaction itself likely done in a few hours or a day... The problem is that MtGox will take weeks or rather months until it is your turn to start the transaction.