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Author Topic: Tradehill Checks not arriving as promised  (Read 686 times)
gazorp
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August 12, 2011, 03:59:54 PM
 #1

I requested a check withdrawal from tradehill on 8/3/11 and they promised to have it delivered in 5 business days.  It has not been 7 business days and not only has the check not arrived, but the status in my account has not even changed from in progress.

This is very discouraging and will likely prevent me from using this exchange in the future.  If they cannot reliably deliver the promised funds on time, why do they even deserve to be recognized as a legitimate exchange?

I caution anybody using the site to reconsider and move your funds to another exchange that can keep their end of the deal.

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gazorp
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August 12, 2011, 04:38:58 PM
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It is simply unacceptable to delay payment without my knowledge.  I was counting on that money to arrive before this weekend for expenses next week.  Now i am left empty handed, no bitcoins, no check, and i will not be able to make a necessary payment on time because of their misguidance.  If you promise to have something in my hand within five days, then for fucks sake it better be there on time. 

They have forever lost me as a customer and I hope others here read this and move their funds away ASAP.

Tradehill may have good intentions, but their execution leaves so much to be desired.

LeFBI
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August 12, 2011, 06:00:06 PM
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It is simply unacceptable to delay payment without my knowledge.
Without your knowledge?

They announced the Bank account problems on August, 5th (a week ago...):
http://tradehillblog.com/
They wrote emails:
https://bitcointalk.org/index.php?topic=34684.0

Did you even try to contact them about your problem?


I was counting on that money to arrive before this weekend for expenses next week.  Now i am left empty handed, no bitcoins, no check, and i will not be able to make a necessary payment on time because of their misguidance.
Lol...sry but that's your fault. Never spend money you don't have. That's like "Ah, i'll buy that new car because i get the job tomorrow. [Next Day] . What?! I don't get the job?"

Also, what kind of "necessary payment" would that be? Do you hold your entire money in Bitcoins? Unlikely.
dacoinminster
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August 12, 2011, 07:19:33 PM
 #4

Checks are fine for getting money out, but I am concerned about getting money IN.

Tradehill: when are you going to get a cheaper way to get USD into the exchange? USD Volume is drying up like a cowpie in august because Paxum charges $5 to get money into their system, so all the USD is going through Dwolla into MtGox Sad

I know Dwolla screwed you guys, and maybe MtGox is just eating similar losses and not telling anyone, but do you have a cheaper option coming??

TheBanker
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August 12, 2011, 08:48:22 PM
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Checks are fine for getting money out, but I am concerned about getting money IN.

Tradehill: when are you going to get a cheaper way to get USD into the exchange? USD Volume is drying up like a cowpie in august because Paxum charges $5 to get money into their system, so all the USD is going through Dwolla into MtGox Sad

I know Dwolla screwed you guys, and maybe MtGox is just eating similar losses and not telling anyone, but do you have a cheaper option coming??

I'd like to hear this answer too. Theres just NO WAY I'm using Paxum.
dacoinminster
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August 12, 2011, 09:06:54 PM
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I just found out that www.exchangebitcoins.com claims to accept personal checks! You can literally walk into any Wells Fargo or Chase branch and deposit cash or check, send them a copy of the receipt, and have funds deposited the next day.

This seems totally impossible, given all the check fraud out there, but if it is actually possible, TradeHill needs to do it!!

gazorp
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August 13, 2011, 02:51:21 AM
 #7

It is simply unacceptable to delay payment without my knowledge.
Without your knowledge?

They announced the Bank account problems on August, 5th (a week ago...):
http://tradehillblog.com/
They wrote emails:
https://bitcointalk.org/index.php?topic=34684.0

Did you even try to contact them about your problem?


I was counting on that money to arrive before this weekend for expenses next week.  Now i am left empty handed, no bitcoins, no check, and i will not be able to make a necessary payment on time because of their misguidance.
Lol...sry but that's your fault. Never spend money you don't have. That's like "Ah, i'll buy that new car because i get the job tomorrow. [Next Day] . What?! I don't get the job?"

Also, what kind of "necessary payment" would that be? Do you hold your entire money in Bitcoins? Unlikely.

Why are my finances any of your business Corporal LeFBI Douche?  Just to prove your ignorance, here is my situation.

I have necessary expenses to attend the bitcoin conference, and i am waiting for money earned from bitcoin to do that.  Contrary to your naive assumptions, i do not mix my bitcoin finances and my US currency funds.  If i take a bitcoin related trip, BTC pays for it.  If i expand my mining ops, BTC pays again.  The same applies for my business and personal finances.

Learn from this and you will prosper.

In regards to those postings, not once was it mentioned that there would be check payment delays.  What's more is that on the withdrawal info page they claim that checks are mailed out daily and if my check was mailed out when promised, it would have arrived by now.

As a followup, i wanted to share that Francisco from tradehill has contacted me directly and worked everything out personally.  I thank him for the good customer service, and will be meeting him next week in NYC.

overclock22
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August 14, 2011, 06:30:28 PM
 #8

Trade-hill was garbage from the start, they got lucky that mtgox went down around the time their referral system went into full swing.

Ah yes ill make the money then be forced to do the advertising for the exchange, so I don't have to pay them an exorbitant fee, a perfectly reasonable system.
mikethebodacious
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August 15, 2011, 10:35:53 AM
 #9

Tradehill's decision to go from Dwolla to Paxum just killed their exchange for me, and I suspect many others are displeased with their decision to switch to Paxum.  After getting a Dwolla account and using it for a month with Tradehill I really liked the setup and the speed.  Paxum's fees are outrageous in my opinion so I had to move all my funds from Tradehill to MtGox (the exchange I DIDN'T want to use but Tradehill left me no choice).  I really hope Tradehill straightens out things with Dwolla to eliminate the charge back loopholes and to start using them again, otherwise they will lose out to MtGox.

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August 15, 2011, 11:30:52 AM
 #10

Lol...sry but that's your fault. Never spend money you don't have. That's like "Ah, i'll buy that new car because i get the job tomorrow. [Next Day] . What?! I don't get the job?"
You may not understand the time value of money, but if an exchange doesn't, I'd find another exchange.

I am an employee of Ripple.
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ BM-NBM3FRExVJSJJamV9ccgyWvQfratUHgN
mikethebodacious
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August 15, 2011, 11:54:34 AM
 #11

You may not understand the time value of money, but if an exchange doesn't, I'd find another exchange.

Just like that old adage goes, time is money but money is not time.

dacoinminster
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August 15, 2011, 04:09:43 PM
 #12

I have heard from reliable sources that TradeHill is working hard on new USD deposit methods. They are aware that Paxum is not ideal for most people.

I'm guessing they jumped to Paxum as a stopgap, and with the assumption that other exchanges might not be able to do Dwolla anymore, so Paxum would be the best available option for every exchange.

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