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Author Topic: MTGOX International Wire Deposit  (Read 2927 times)
bitcoinTrader
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August 27, 2011, 02:18:29 PM
 #1

Hi,

Does anyone know how much time it takes for the mtgox account to get credited after the international wire is cleared from bank (which takes 2-3 days)?

I just did 300$ international wire, hence would like to know when will the funds be credited.

Edit: Do I need to mail mtgox about this transfer?

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MagicalTux
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August 30, 2011, 10:29:22 AM
 #2

Hi,

Does anyone know how much time it takes for the mtgox account to get credited after the international wire is cleared from bank (which takes 2-3 days)?

I just did 300$ international wire, hence would like to know when will the funds be credited.

Edit: Do I need to mail mtgox about this transfer?

It usually take a couple of hours if your bank is a good bank.

If it's not, ask them to know how long it takes.

miernik
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September 01, 2011, 03:49:47 AM
 #3

It usually take a couple of hours if your bank is a good bank.

If it's not, ask them to know how long it takes.

I just received e-mail from MtGox support about the speed of their bank deposits.

The UK Barlcays bank account is checked about ONCE A WEEK.

The HK USBC bank account also "not daily", which may mean every few days.

I am speechless... I paid extra for a urgent same-day wire at my bank, if I would have known, I wouldn't bother. I'd probably not send money to MtGox at all. Bank accounts checked only once a week? I'd never expect it to be that bad. Ridiculous.

casascius
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September 01, 2011, 04:18:18 AM
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I've had wires credited the SAME DAY to MtGox, wired at noon, balance was there by 8pm, only because 8pm for me is the morning in Japan...

Companies claiming they got hacked and lost your coins sounds like fraud so perfect it could be called fashionable.  I never believe them.  If I ever experience the misfortune of a real intrusion, I declare I have been honest about the way I have managed the keys in Casascius Coins.  I maintain no ability to recover or reproduce the keys, not even under limitless duress or total intrusion.  Remember that trusting strangers with your coins without any recourse is, as a matter of principle, not a best practice.  Don't keep coins online. Use paper wallets instead.
MagicalTux
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September 01, 2011, 10:52:51 AM
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The UK Barlcays bank account is checked about ONCE A WEEK.

The HK USBC bank account also "not daily", which may mean every few days.

I am speechless... I paid extra for a urgent same-day wire at my bank, if I would have known, I wouldn't bother. I'd probably not send money to MtGox at all. Bank accounts checked only once a week? I'd never expect it to be that bad. Ridiculous.

Uh?

UK Barclays pushes us data once a day.

HSBC in Hong Kong pushes us wires in realtime, as soon as your funds are received they are credited.

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September 01, 2011, 11:06:06 AM
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mtgox needs to be boycotted, if you guys want to be the invisible hand of the free market with me then lets go.
Nothing personal MagicalTux but this is what needs to be done if bitcoins are ever to be accepted by anyone.

Theres not much I can say to convince people to join me but this is all I can do as a consumer, you have made the conscious choice to associate with a known scammer who will not talk to the community and is most likely using stolen funds to run his "tv station".

Until Bruce comes to these forums to answer our questions we can only take our support away from those who wish to support him.
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September 01, 2011, 11:13:01 AM
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UK Barclays pushes us data once a day.

HSBC in Hong Kong pushes us wires in realtime, as soon as your funds are received they are credited.

Well, are you more knowledgeable how it works at MtGox, or the person who replies to mails at info<at>mtgox.com?

The person didn't sign with his/her name, just "MtGox.com Team", so I can't tell, but it came from a zendesk<at>mtgox.com address and wrote that transfers from Barclays are credited to MtGox account "by a developer" once a week, and HSBC in HK somewhat less often then daily.

So can you tell me who should I believe? You or support?

Can you decide on one version in your company? It was a support ticket http://support.mtgox.com/tickets/10909 if you have access to these.

If you know better, can you tell it to the people answering there, and that I can request info again from info<at>mtgox.com and get the version you tell here, so I am sure of it before I spend 30$ on a same-day wire to Hong Kong?

MagicalTux
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September 01, 2011, 11:17:37 AM
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Can you decide on one version in your company? It was a support ticket http://support.mtgox.com/tickets/10909 if you have access to these.

If you know better, can you tell it to the people answering there, and that I can request info again from info<at>mtgox.com and get the version you tell here, so I am sure of it before I spend 30$ on a same-day wire to Hong Kong?

Thanks for the link, I'll have the training material for the support staff updated to include this kind of information.

HK deposits are processed in realtime, except for HK=>HK B2B deposits (they cannot be pushed automatically, so they are fetched in daily batches). UK Barclays is fetched once a day, and then manually checked as for some reason they truncate the description in the exports.

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September 01, 2011, 11:21:43 AM
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HK deposits are processed in realtime, except for HK=>HK B2B deposits (they cannot be pushed automatically, so they are fetched in daily batches). UK Barclays is fetched once a day, and then manually checked as for some reason they truncate the description in the exports.

Is it true that HSBC to HSBC transfers go through in seconds worldwide? So if I open a HSBC account for example in UK or France, I can wire to your account from my HSBC account to your Hong Kong HSBC account in seconds? Or is it only between accounts of the same person?

What are those B2B deposits?

I'd like to know exactly how this works, before I fly over across Europe just to open a HSBC account.

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September 01, 2011, 11:49:42 AM
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HK deposits are processed in realtime, except for HK=>HK B2B deposits (they cannot be pushed automatically, so they are fetched in daily batches). UK Barclays is fetched once a day, and then manually checked as for some reason they truncate the description in the exports.

Is it true that HSBC to HSBC transfers go through in seconds worldwide? So if I open a HSBC account for example in UK or France, I can wire to your account from my HSBC account to your Hong Kong HSBC account in seconds? Or is it only between accounts of the same person?

What are those B2B deposits?

I'd like to know exactly how this works, before I fly over across Europe just to open a HSBC account.

HSBC to HSBC transfers are cheaper, and usually done within less than one hour provided both the source and the destination branches are in business hours. If both accounts are under the same name and the amounts on the accounts are over a defined value, it is free.

Any other bank usually allow wire transfers to be processed within a few hours at most, except some bank with on purpose delays you can avoid by paying more (so-called expedited transfer).

B2B deposits are instant deposits, only possible between banks in Hong Kong. They are much cheaper and clear instantly. If you let us know you made such a deposit by email we can force the update and credit it faster. If not it'll be processed next day in worst case.

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September 01, 2011, 11:57:40 AM
 #11

UK Barclays pushes us data once a day.

What time of day is it?

Yesterday I sent a SWIFT wire to Barclays with "urgent" (highest) priority, so it should have cleared the same day, means yesterday evening it should have been on your Barclays account, but I don't have it on my MtGox yet. Can that one also be "pushed" earlier by sending an e-mail, like the HK B2B stuff? Anyway, to what address should I send an e-mail ? Because the people at info<at>mtgox.com clearly can't do more then tell me "We are sorry, its credited once a week by our developer".

MagicalTux
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September 01, 2011, 01:32:43 PM
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What time of day is it?

Yesterday I sent a SWIFT wire to Barclays with "urgent" (highest) priority, so it should have cleared the same day, means yesterday evening it should have been on your Barclays account, but I don't have it on my MtGox yet. Can that one also be "pushed" earlier by sending an e-mail, like the HK B2B stuff? Anyway, to what address should I send an e-mail ? Because the people at info<at>mtgox.com clearly can't do more then tell me "We are sorry, its credited once a week by our developer".

Barclays only export transactions on the next day, not on same day. I'll see what I can do.

miernik
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September 01, 2011, 02:30:53 PM
 #13


Barclays only export transactions on the next day, not on same day. I'll see what I can do.


It got credited just a while ago at 2011-09-01 15:37:45 CEST (UTC+2)

Did you push it, or did it get credited as it would have normally?

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September 01, 2011, 04:40:06 PM
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Barclays only export transactions on the next day, not on same day. I'll see what I can do.


Transactions which arrive in Barclays on Friday afternoon, are they exported to you on Saturday or Monday?


MagicalTux
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September 02, 2011, 12:25:56 AM
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Barclays only export transactions on the next day, not on same day. I'll see what I can do.


Transactions which arrive in Barclays on Friday afternoon, are they exported to you on Saturday or Monday?

Transactions which "value date" is Friday are credited on saturday. International transactions incoming on friday tend to have their value date set on monday (this depends on what kind of agreement your bank has with Barclays). National UK transfers sent on friday are usually credited on saturday.

miernik
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September 02, 2011, 12:38:19 AM
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Transactions which "value date" is Friday are credited on saturday. International transactions incoming on friday tend to have their value date set on monday (this depends on what kind of agreement your bank has with Barclays). National UK transfers sent on friday are usually credited on saturday.

I pay a bit extra to have the value date "0" (same day), so that's not a problem.

It's a pity that you have Barlcays export them next day, and only HSBC Hong Kong the same day, because a USD wire transfer to Hong Kong costs me 5 times as much as a GBP wire to UK - I pay only 4 GBP for a wire to UK, but it would cost me 30 USD to wire to Hong Kong (both prices same-day).

Now you have a relationship with HSBC, couldn't you open a HSBC account in GBP in UK so transfers there could also be credited instantly? And for that matter HSBC also has an EUR branch in France, why don't you open an account there? Once you have one HSBC account, you can easily have accounts in all their other branches in other countries.

I could open a HSBC in Europe myself and transfer money same-day there, and then also same-day to your HSBC UK, but to convert EUR to USD in HSBC would cost the 2.5%, while transferring GBP to Barclays the currency conversion is free (I can convert EUR to GBP for about 0.2% so that's not a problem).

Couldn't you open EUR and GBP accounts in HSBC (any branch, may be even Hong Kong), and there do the same thing as you do in Barclays - credit MtGox accounts with 0% currency conversion?

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