Australian Bitcoin Exchange - NOW LIVE

[Seal]

Hi.

I coded up an API for the World Bitcoin Exchange site a while back.

How would you like to be its first user?

I've done a bunch of testing, and it looks good to go, but so far we've not announced it as being available.

If you want to try it out, tell me your WBX userid, or openid, and I'll get you set up.

I prefer email (dooglus@gmail.com) but PM here works for me too.

Chris.

Would love to buddy! Email sent.

[1714108685]

1714108685

[1714108685]

1714108685

[1714108685]

1714108685

[1714108685]

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[1714108685]

1714108685

[CIYAM]

Does that mean a complaint to the banking ombdusman is now required?

Perhaps so - but unfortunately I don't reside in Australia so it's not really something I am going to really be able to pursue (especially over a sum of $50).

It is certainly a worry though when money just "disappears" and such events do not inspire confidence in using banks in order to purchase BTC.


Cheers,

Ian.

[racerguy]

I deposited 50$ last thursday that still hasn't showed up in my account, would this have something to do with it? I can't get wbx to answer my email.

[payb.tc]

I deposited 50$ last thursday that still hasn't showed up in my account, would this have something to do with it? I can't get wbx to answer my email.

i'm sad to say these guys are quite a bit slower than they used to be.

withdrawal requests used to get verified by the next business day at the latest, but i'm still waiting on one from Friday morning:

08:39am 20-Jan-12   Verifying

i think i'll only put quite small amounts through there until the situation improves again.

[brendio]

I deposited 50$ last thursday that still hasn't showed up in my account, would this have something to do with it? I can't get wbx to answer my email.

i'm sad to say these guys are quite a bit slower than they used to be.

withdrawal requests used to get verified by the next business day at the latest, but i'm still waiting on one from Friday morning:

08:39am 20-Jan-12   Verifying

i think i'll only put quite small amounts through there until the situation improves again.

Agree.

I emailed them about a withdrawal and got this reply this morning.

We are having slight delays with withdraw request and will resolve the problem shortly.

[Andre Jensen (World Bitcoin Exchange)]

I deposited 50$ last thursday that still hasn't showed up in my account, would this have something to do with it? I can't get wbx to answer my email.

i'm sad to say these guys are quite a bit slower than they used to be.

withdrawal requests used to get verified by the next business day at the latest, but i'm still waiting on one from Friday morning:

08:39am 20-Jan-12   Verifying

i think i'll only put quite small amounts through there until the situation improves again.

Agree.

I emailed them about a withdrawal and got this reply this morning.

We are having slight delays with withdraw request and will resolve the problem shortly.

Hi all,

We have an announcement, we apologise to our members that are experiencing delays in the services we provide, over the past weeks we have had a series of charge backs to our account which has forced our banking institution to hold our funds on several occasions this year. we wanted to carry out an investigation on these criminals before we release it to the public, the good news is that we are making progress in catching these criminals.

In order to protect your money we have had to increase the security around our accounts and systems, the following is the new process.

1. We now have series of accounts with minimal funds
2. We now hold a small amount of funds outside our banking institution.(in the event our account is frozen again)
3. A large portion of our transaction are manually processed.

What these new security measures mean? The processing of deposits stays the same with no change how ever withdraw requests will be slightly affected, next day processing will now be delayed.

We do want your feed back on this matter.

Happy Australia Day
Andre

[payb.tc]

how ever withdraw requests will be slightly affected, next day processing will now be delayed.

We do want your feed back on this matter.

an estimate of how long withdrawals *should* take would be nice.

happy bbq day.

[Andre Jensen (World Bitcoin Exchange)]

how ever withdraw requests will be slightly affected, next day processing will now be delayed.

We do want your feed back on this matter.

an estimate of how long withdrawals *should* take would be nice.

happy bbq day.

Hi all,

Maximum 3 days

Andre

[payb.tc]

how ever withdraw requests will be slightly affected, next day processing will now be delayed.

We do want your feed back on this matter.

an estimate of how long withdrawals *should* take would be nice.

happy bbq day.

Hi all,

Maximum 3 days

Andre

okay cool, well... looking forward to the above-mentioned withdrawal that was requested 7 days ago.

thanks.

[Seal]

how ever withdraw requests will be slightly affected, next day processing will now be delayed.

We do want your feed back on this matter.

an estimate of how long withdrawals *should* take would be nice.

happy bbq day.

Hi all,

Maximum 3 days

Andre

Hi there Andre, are you still experiencing these delays? I recently sent you an email about getting my limits raised and have been waiting on a couple of withdrawals, is everything ok?

[Andre Jensen (World Bitcoin Exchange)]

how ever withdraw requests will be slightly affected, next day processing will now be delayed.

We do want your feed back on this matter.

an estimate of how long withdrawals *should* take would be nice.

happy bbq day.

Hi all,

Maximum 3 days

Andre

Hi there Andre, are you still experiencing these delays? I recently sent you an email about getting my limits raised and have been waiting on a couple of withdrawals, is everything ok?

At this stage we are holding off raising the withdraw limits as this protects both you and other users of WBX of fraud, we hope to revisit this matter by the 2nd or 3rd quarter of this year. Withdraws are delayed due to banking issues.

Andre

[Seal]

Hey Andre, is everything ok down at WBX? I noticed that you've frozen all trading at the moment.

[payb.tc]

Hey Andre, is everything ok down at WBX? I noticed that you've frozen all trading at the moment.

oh boy... haven't used this exchange for a while and only just today sold btc there and requested $ withdrawal.

hope everything's okay... otherwise extremely poor timing on my part!

[brendio]

News item from the WBX site:

Exchange Trading Frozen

9:10am 22-Feb-12

I (Chris Moore) have frozen the exchange temporarily while I attempt to get in touch with the management. It appears that AUD withdrawals have been piling up in the 'pending' state for over a week now, which is unusual. I hope there's a simple explanation for this and that I'm overreacting, but until I'm able to talk to Andre about this it doesn't seem fair to allow people to continue trading here.

I also received a reply this morning to an email I sent two days ago enquiring about the status of my withdrawal request from over a week ago.

Hi Brendan,

We are having major banking issues, our bank has put a hold on our accounts we are sorry for the inconvenience and hope to have this resolved by next week.

Support

[CIYAM]

Hopefully for your sakes it is not another frozen bank account issue.

This happened to me (a case of bad timing) and ANZ (their bank at that time) never returned my funds.

[CIYAM]

Will send you a PM shortly.

[Jeremy West spendbitcoins.com]

Hopefully for your sakes it is not another frozen bank account issue.

This happened to me (a case of bad timing) and ANZ (their bank at that time) never returned my funds.

want to purchase some bitcoins for AUD directly? i'd like about $1000 and could do them for $4.10 each.

I can do a manual order for this as well if you still need it, payb.

[brendio]

9:10am 22-Feb-12

Dear Clients, We would like to apologize to all our clients for the lack of customer support provided over the past weeks, as of 14th February we have been faced with another banking institution issue, which includes the following; We've had an account suspension issue with our Commonwealth bank processing account and are unable to execute EFT AUD withdrawals while the account is suspended. We will leave the exchange in its 'frozen' state until we are able to re-commence operations. We've had an issue or two in the past with other banking institutions in Australia so we understand the tension this causes for customers and ourselves. However we've always managed to correct them. We thank you for your support and appreciate your patience as we work through this. WBX Team

This update just posted (though not on February 22). I hope you get through your banking issues quickly and come back with a more solid offering than ever. Australian bitcoiners need you.

[Jeremy West spendbitcoins.com]

9:10am 22-Feb-12

Dear Clients, We would like to apologize to all our clients for the lack of customer support provided over the past weeks, as of 14th February we have been faced with another banking institution issue, which includes the following; We've had an account suspension issue with our Commonwealth bank processing account and are unable to execute EFT AUD withdrawals while the account is suspended. We will leave the exchange in its 'frozen' state until we are able to re-commence operations. We've had an issue or two in the past with other banking institutions in Australia so we understand the tension this causes for customers and ourselves. However we've always managed to correct them. We thank you for your support and appreciate your patience as we work through this. WBX Team

This update just posted (though not on February 22). I hope you get through your banking issues quickly and come back with a more solid offering than ever. Australian bitcoiners need you.

Just in case anyone doesn't know about us, I just wanted to let you know that there is an alternative for buying bitcoins in Australia, which is http://au.spendbitcoins.com. There is a bit of a premium to cover our costs and a bit of profit, but it we do offer a quick, nearly anonymous way to buy bitcoins without doing any wire transfers, etc, just a cash deposit at any NAB in the country.

Head over to http://au.spendbitcoins.com to have a look now.

[slothbag]

BitPiggy is also available for instant buy/sell of Bitcoin in Australia: https://bitpiggy.heroku.com/

No deposit/withdraw fees.

Looks like their current rate is about 4.88aud which is not too shabby.