www.BITSTAMP.net Bitcoin exchange site for USD/BTC

[BigBitz]

Down? DDoS?

[monstrs]

Its down for me too, whats happening?

[BeeFer310]

It seems to be just the mainpage

try:
https://www.bitstamp.net/account/login/
https://www.bitstamp.net/account/balance/

https://www.bitstamp.net/market/order_book/

[TerryCoin]

Closing in on 2 weeks since I sent my wire without receiving credit. First one thats taken longer than 2 business days. Any advice? Nobody will answer my tickets and when they do, its with useless responses:

we apologize for not getting back to you sooner.

Thank you for notifying us. You will be informed via e-mail as soon as your funds are credited to your account.

Best regards,
Rok Štucin

[accord01]

Why are my transfers not being processed?

[TiborB]

The main page is back.

   T

[Flanagan]

Deposit at Bitstamp by sending different currency than USD
-------------------------------------------------------------------

Hi

If one sends Euros or British pounds to deposit at the bitstamp account, how much is charged by your receiving bank to change to USD (aside from bitstamp's 1% fee min $15) ?

Does Unicredit (you bank) just do the exchange from Euros or GBP, whatever the case, to USD at the exchange rate shown on their site (*), or do they also charge a fee?

Thanks.


(*) http://www.unicreditbank.si/tecajna_lista/?t=1&id_menu=&language=ENG

[Rannasha]

Deposit at Bitstamp by sending different currency than USD
-------------------------------------------------------------------

Hi

If one sends Euros or British pounds to deposit at the bitstamp account, how much is charged by your receiving bank to change to USD (aside from bitstamp's 1% fee min $15) ?

Does Unicredit (you bank) just do the exchange from Euros or GBP, whatever the case, to USD at the exchange rate shown on their site (*), or do they also charge a fee?

Thanks.


(*) http://www.unicreditbank.si/tecajna_lista/?t=1&id_menu=&language=ENG

From my experience with many EUR deposits, the most recent one being today, no fee is charged by Bitstamps bank and the amount you receive is exactly the amount sent multiplied by the conversion rate listed on the bank website.

[pro-trader]

Hello,

I´m a Newbie and by accident I posted my story in the wrong thread first - but now I got the right one and obviously I am allowed to post here. Mods, please excuse me if I double-write the same subject now (1 here and 1 in the Newbie Thread), I don´t want to spam, I only want to share my very negative experience with Bitstamp to others, and I think this is the right thread.

Bitstamp has confiscated 60.000 USD from me and refuses to return them

Before I start sharing my experience, some words about myself so you understand the situation better:
I make my living on investment and trading (mostly on Forex and stock market) since many years, and in general when I trade I do handle amounts with 5 digit sizes upwards. I bought my first Bitcoins (Ha –I was really lucky, yes in deed) a few years ago, and am a fan of it since then – despite I never really traded them like I trade stocks or currencies.

OK – now, a few months ago, I opened up an account at Bitstamp as Mt.Gox is way too slow in handling cash payments and the German Bitcoin.de has much too little volume for my taste. I got a verified account  (whatever this means with Bitstamp), after providing them with a set of documents about myself, my proof of adress etc.

After some time I gave it a test, sent some of my BTC from my wallet to my Bitstamp account and sold it (amount approx 20.000 USD or so). Sent the cash I got to my bank account. Well – it worked!

So after some time I decided to do it vice-versa and buy a bit more Bitcoins – and sent 60.000 USD (from the same bank I had transferred the 20k USD before) to Bitstamp´s bank, in order to fund my account there.
And then – a strange story started and my 60.000 USD are - gone? frozen? Only Bitstamp knows!

Bitstamp contacted me that they have a problem with the money I just sent, they had to freeze my 60.000 USD because my amount is so big and they first must start their KYC (know your customer) procedure.
Well, as a professional trader I fully understand AML and KYC procedures. But its never a real problem and I am fully aware of the requirements and capable to proof everything is legal etc.

Not so, however, with Bitstamp!

These guys really insist to learn all(!!) my bank accounts  - and believe me, as a professional trader I have quite a few. They want to see any(!!!) financial documentation from me etc etc. before they will decide to un-freeze my money or not. And keep in mind that I sent my 60.000 USD AFTER Bitstamp confirmed me that my account is fully verified.

I refused to send them all this far-going information, but sent them an explanation and 2 letters from that bank where I sent my money from. I work with that bank since 15 years which the bank confirmed as well, its one of the leading and most reputable banks in Europe. However, this confirmation was from last year – and these teenager @ Bitstamp replied, that they cannot un-freeze my money yet because they need a brand-new "Certificate of Good Standing" from myself (hey - I´m a private person, not a company!), they need also this and that etc.

I recalled the payment (which costs me a few hundred USD in fees) – but the Slovenian bank refuses to send me back my money because Bitstamp has blocked it. My money is not visable/credited to my account at Bitstamp either.

So – be aware when you send money to Bitstamp!

Maybe, with some luck, Bitstamp is not a fraud and just unprofessional. It could be that an unexperienced person got a panic attac after seeing 60.000 USD and over-reacted?? And now maybe some senior employee has to look into the subject which takes a lot of time? I just hope so, because other users seem to have a good experience with Bitstamp. But maybe its not and my 60k USD are just gone?

The story is lasting quite some time now and my 60.000 USD are still in the hands of Bitstamp.

I´ll wait a few more days, then I´ll give it to my lawyer in UK. Will keep you updated here!

[Alpaca Bob]

Will keep you updated here!

Please do.

[Vanderi]

Hello,

I´m a Newbie and by accident I posted my story in the wrong thread first - but now I got the right one and obviously I am allowed to post here. Mods, please excuse me if I double-write the same subject now (1 here and 1 in the Newbie Thread), I don´t want to spam, I only want to share my very negative experience with Bitstamp to others, and I think this is the right thread.

Bitstamp has confiscated 60.000 USD from me and refuses to return them

Before I start sharing my experience, some words about myself so you understand the situation better:
I make my living on investment and trading (mostly on Forex and stock market) since many years, and in general when I trade I do handle amounts with 5 digit sizes upwards. I bought my first Bitcoins (Ha –I was really lucky, yes in deed) a few years ago, and am a fan of it since then – despite I never really traded them like I trade stocks or currencies.

OK – now, a few months ago, I opened up an account at Bitstamp as Mt.Gox is way too slow in handling cash payments and the German Bitcoin.de has much too little volume for my taste. I got a verified account  (whatever this means with Bitstamp), after providing them with a set of documents about myself, my proof of adress etc.

After some time I gave it a test, sent some of my BTC from my wallet to my Bitstamp account and sold it (amount approx 20.000 USD or so). Sent the cash I got to my bank account. Well – it worked!

So after some time I decided to do it vice-versa and buy a bit more Bitcoins – and sent 60.000 USD (from the same bank I had transferred the 20k USD before) to Bitstamp´s bank, in order to fund my account there.
And then – a strange story started and my 60.000 USD are - gone? frozen? Only Bitstamp knows!

Bitstamp contacted me that they have a problem with the money I just sent, they had to freeze my 60.000 USD because my amount is so big and they first must start their KYC (know your customer) procedure.
Well, as a professional trader I fully understand AML and KYC procedures. But its never a real problem and I am fully aware of the requirements and capable to proof everything is legal etc.

Not so, however, with Bitstamp!

These guys really insist to learn all(!!) my bank accounts  - and believe me, as a professional trader I have quite a few. They want to see any(!!!) financial documentation from me etc etc. before they will decide to un-freeze my money or not. And keep in mind that I sent my 60.000 USD AFTER Bitstamp confirmed me that my account is fully verified.

I refused to send them all this far-going information, but sent them an explanation and 2 letters from that bank where I sent my money from. I work with that bank since 15 years which the bank confirmed as well, its one of the leading and most reputable banks in Europe. However, this confirmation was from last year – and these teenager @ Bitstamp replied, that they cannot un-freeze my money yet because they need a brand-new "Certificate of Good Standing" from myself (hey - I´m a private person, not a company!), they need also this and that etc.

I recalled the payment (which costs me a few hundred USD in fees) – but the Slovenian bank refuses to send me back my money because Bitstamp has blocked it. My money is not visable/credited to my account at Bitstamp either.

So – be aware when you send money to Bitstamp!

Maybe, with some luck, Bitstamp is not a fraud and just unprofessional. It could be that an unexperienced person got a panic attac after seeing 60.000 USD and over-reacted?? And now maybe some senior employee has to look into the subject which takes a lot of time? I just hope so, because other users seem to have a good experience with Bitstamp. But maybe its not and my 60k USD are just gone?

The story is lasting quite some time now and my 60.000 USD are still in the hands of Bitstamp.

I´ll wait a few more days, then I´ll give it to my lawyer in UK. Will keep you updated here!

They have been prepped to the fullest extent on seizing and stopping anything they might even remotely consider unlawful. I accidentally set my customer# as my name in a tx and got a message with all the exclamation marks and whistles about how it is not allowed to transfer to third parties of any kind.

Prepped to the extent of being stupid. They should have asked me about my obvious mistake and proposed to correct it but nooooo, here gomes the white knight Bitstamp on the high horse, stopping third party shady moves.

That said, they are a high volume, established service provider and any risk that they are trying to get to your money and head for the bahamas is infinitely small.


Actually they are like some sort of a friendly bouncer. Strong, friendly, but too stupid it seems, but to stand by the door.

[pro-trader]

...
That said, they are a high volume, established service provider and any risk that they are trying to get to your money and head for the bahamas is infinitely small.

Well, not Bahamas but somewhere else? Called my banker today. He said, no way so far to get back the rest (after fees) of my 60k USD becasue the Slovenian Unicredit - Bitstamps bank where I sent the money to - claims, Bitstamp refuses to give the allowance.

White knight? No bad experiences on Bitstamp? If you trade with 100 USD, maybe.

F...k !!!!

[Vanderi]

...
That said, they are a high volume, established service provider and any risk that they are trying to get to your money and head for the bahamas is infinitely small.

 100 USD, maybe.

Wrong. Up yours, too, buddy.

[oda.krell]

...
That said, they are a high volume, established service provider and any risk that they are trying to get to your money and head for the bahamas is infinitely small.

Well, not Bahamas but somewhere else? Called my banker today. He said, no way so far to get back the rest (after fees) of my 60k USD becasue the Slovenian Unicredit - Bitstamps bank where I sent the money to - claims, Bitstamp refuses to give the allowance.

White knight? No bad experiences on Bitstamp? If you trade with 100 USD, maybe.

F...k !!!!

Hm, let's see... newbie account, coming here asking for support with a possibly true but kind of hard to believe story to begin with, then insulting those who dare to ask critical questions. But wait. I guess that's not the kind of language you understand. I'll translate: Go fuck yourself :)

EDIT: if you can accept the fact that a number of people in here trade within a similar USD range (or larger), and you don't accuse others of being white knights, then you might actually get some support here, as far as that's possible on a forum. Lately, I didn't see anyone from Bitstamp responding in here unfortunately.

[analytics]

Pro-trader, I'm interested too in how yours turns out.  I am in the US, but a very similar story.   I did a few thousand wire transfer test and all went well.   I have transferred a larger sum akin to yours (60k)  later from my US bank (I am already verified at Bitstamp as well).  My Bank validated the transfer last Friday early am,  but the USD still has not posted to my account on Bitstamp yet.  I have exchanged a few messages with their support, and they said they already credited it.  They hadn't of course , and I think "Luka" was simply confused by my first deposit.  I am awaiting their reply.  They say they credit within 24hrs of receiving a wire completed, but I am now well past that point.  During their business hours tomorrow I expect to receive my cash in my Bitstamp account.  I'll let you know what happens here.

[Loozik]

Welcome to the legal fiction called EU.

This MAY be outdated: if you make a transfer of more than EUR 15k to or from or within the so called EU, this transfer is automatically considered suspicious and must be reported to:
- somebody making business as EU and
- the so called national financial authorities of your residence (if you live in the so called EU).

If you make many transactions with one party sending jointly more than EUR 15k to this party during a month, this gets also reported.

I did a few thousand wire transfer test and all went well.

It is below 15k - no problem.

I have transferred a larger sum akin to yours (60k)  later from my US bank (I am already verified at Bitstamp as well).

This is above EUR 15k. Your transfer must have been reported to somebody. This somebody MIGHT have got suspicious. Maybe your name accidentally matches the name of a known terrorist or someone on Interpol list? Just a guess.

From experiences of some of my friends who work as bank clerks, it is better:
- to send a larger amount at once - if you are fortunate, noone will have time to react and block your payment;
- to split a larger amount into less than EUR 15k portions and send over a longer period.

Bitstamp MAY not be at fault.

[analytics]

Thanks for the reply Loosik.   Mine is a small delay so far, but his post caught my attention.

I am in the US.   Anything over 10K in a day has to get reported (reality is they aggregate data over multiple days as well) .  In my case with 60K, they certainly reported it here in the US because they are required to.  My bank completed that and sent the money in around 14 hours tops.  I expect the same as you noted in the EU with sums that large.  
If Bitstamp is delaying deposits during any extra review period (I already have been verified with my passport, etc), they should notify customers.  I understand and expect them to comply with international law for sure.  But once they verify, holding people's money hostage without communication or a good reason will wreck their business quickly.   I am testing CampBx in the US as well.

A word of caution with trying to do sums less than 10K or 15K repeatedly, instead of one transfer.  In the US they call this "structuring" your withdrawals/deposit to avoid getting any auto reporting for larger sums, and it's a serious federal offense.   I have every intention of reporting my gains (or losses), so I have no issue with my transfers being tracked backed and forth.  I didn't want to take any chance with the IRS here thinking I was structuring payments, so I did a larger transfer up front.  

BTW, I had a very poor experience with Coinbase, noted here, but I have hopes for them:
https://bitcointalk.org/index.php?topic=407385.0

[Loozik]

If Bitstamp is delaying deposits during any extra review period (I already have been verified with my passport, etc), they should notify customers.

If Bitstamp is delaying your deposit based on their arbitrary judgements, it's not fair. If it is for reasons beyond their will (e.g. your name matches the name of a know terrorist), then Bitstamp has no other option than to delay the deposit, untill things sort out.

A word of caution with trying to do sums less than 10K or 15K repeatedly, instead of one transfer.  In the US they call this "structuring" your withdrawals/deposit to avoid getting any auto reporting for larger sums, and it's a serious federal offense.

So it is considered an offence in the so called EU as well. There are ''funny'' cases when bank clerks freeze accounts of legitimate businesses like shops that deposit their daily earnings while quoting ''structuring offence'' laws

[pro-trader]

Update as of today: no money returned.

Thanks for everybody sharing experience. When comparing, please keep in mind that I no longer ask Bitstamp to credit the money on my account.
All I ask them is to return my payment (and I will bear the fees for all that) to my (EU – based & well known) bank I sent my money from.

And yes, I

1.   had a fully verified account with fully verified identity
2.   Bitstamp confirmed me subject 1 (otherwise I would not have sent money - I know the EU AML & KYC rules very well). But nevertheless Bitstamp had frozen my 60k USD right upon arrival.
3.   As I wrote I fully recognize AML & KYC procedures. But to fulfill that, you do not have to present totally naked and inform Bitstamp about your entire bank accounts, entire financial information etc.. All those docs and bank letters I sent Bitstamp are more than enough to proof that I do legal business, especially as I sent a detailed reference letter from my bank. Bitstamp´s reason to keep my money confiscated is simply ridiculous.
4.   re-called my 60k USD payment, offering to bear all the fees for such a recall (which is, as I wrote, a few hundred USD all in)

According to my bank, Bitstamp has still prohibited their bank to re-transfer my payment. Once again: I am not asking Bitstamp to credit my account in order to trade with Bitstamp. All I do is simply “please return my money to where it came from”. There is 0 legal base for not doing that.

So in my view there are only 2 conclusions about Bitstamp Ltd:

1.   Bitstamp is a fraud
2.   Bitstamp is run by a bunch of pubescent teenagers and/or for other reasons highly unprofessional.

As I wrote, the 2nd may be the case and I still have some hope it is. There is also a 3rd option: That Bitstamp is a trustful and also a professional company. I only had the bad luck to be served by 2 employees that are incapable to do their job (by the way, I got replies from a person named “Rok Stucin” and by some “Marko Rogan”). That can happen, in deed. Even in the best-run companies sometimes client communications takes the wrong turn.

I just don´t believe it any more.

Hm, let's see... newbie account, coming here asking for support with a possibly true but kind of hard to believe story to begin with, then insulting those who dare to ask critical questions. But wait. I guess that's not the kind of language you understand. I'll translate: Go fuck yourself
 

Yes, I am a newbie and yes this is my first post in this forum. Usually I do not spend a lot of time writing posts myself in such forums, but in general I like to read them when I search for experiences others make with a company, a product etc.

Writing my experience here was not intended to ask for help.
I will have to get help from my lawyer in this case. I took the time to write it so that others can read and learn about my experience.

Also I did and do not have the intention to offend users of this forum. I totally disagree with your post. If you are such a fan of Bitstamp that writing my experience with this so-called “company” offends you, then allow me the question: are you an employee of that “company” ? If so then you might better spend your time and look into my subject. And yes, English is not my native language but I am convinced that I am fluent enough in it to articulate myself also in writing.  

If not then you have to accept that I do have this experience and that I do struggle since weeks now to recover my money from Bitstamp. Feel free to trade and deal with Bitstamp and trust them or whatsoever. This is your decision! And the above is my experience. Which I will share to others even if you dislike it.

Of course I will keep you updated here! And hopefully my update will be one day: Money recovered!

[oda.krell]

Also I did and do not have the intention to offend users of this forum. I totally disagree with your post. If you are such a fan of Bitstamp that writing my experience with this so-called “company” offends you, then allow me the question: are you an employee of that “company” ? If so then you might better spend your time and look into my subject. And yes, English is not my native language but I am convinced that I am fluent enough in it to articulate myself also in writing.  

If not then you have to accept that I do have this experience and that I do struggle since weeks now to recover my money from Bitstamp. Feel free to trade and deal with Bitstamp and trust them or whatsoever. This is your decision! And the above is my experience. Which I will share to others even if you dislike it.

Great job leaving out my EDIT (that I added 5 minutes later, so I'm sure you saw it when you posted).

The problem is you came here and posted, and when someone responded to your post with something less than total support, you mentioned "white knighting" and "trading with 100 USD". I'm sure you can see how that doesn't exactly make a great first impression.

Anyway, I trade in a comparable range, and never had problem depositing and withdrawing. However, I can use SEPA transfers, so maybe that makes everything easier... don't know.

Good luck with your case. And, as always, it'd be nice to get some official responses in here from Bitstamp.