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Author Topic: MtGox and SEPA accounts  (Read 447 times)
quattrofan
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January 18, 2014, 11:00:20 AM
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Hi,

I want to relate the ongoing problems I am having withdrawing money from MTG so that hopefully no-one else will experience the same issues. I have been trying now for 3 months to withdraw funds. I initiated the process back in Oct and now in January I've still yet to receive it.

The basic problem is MTG are claiming that international wire transfers should not be used (even though their withdrawal page claims 4 weeks its not anywhere close to reality) so they are pushing anyone in Europe to SEPA withdrawals. However, they seem completely unaware (as I was) that there are still many banks in Europe that are NOT SEPA compliant, there is a list here:

http://epc.cbnet.info/docs/SEPA_Credit_Transfer.pdf

When they tried to transfer I got a message about a routing error and traced this as the problem, so I cancelled the SEPA withdrawal and initiated a regular wire transfer, that was early Dec. Their support refused to recognise that they shared any of the blame for this.

This week as 4 weeks have passed I decided to check on its progress, only to be informed by their support person that I forget wire transfers and use SEPA!! Un-fucking-believable, the support droid had not even read my account history, they haven't even posted the link above on the transfer page to at least allow customers to check their account before initiating SEPA as anyway halfway decent company would.

I've messaged Mark Karpeles (the CEO in hiding: http://www.wired.com/wiredenterprise/2013/11/mtgox/) on Linkedin (http://www.linkedin.com/in/karpeles) he never responded but I know he is getting the messages as today he closed off openlink messages to his account.

Its hard for me to recommend anyone use MTG. Is it a scam, are they having cashflow problems? Hard to tell, but support is terrible, the CEO refuses to speak to the press or even apparently acknowledge there is a problem, and if you check his profile above he is now involved as CEO of another company.

I'd be curious to here of anyone else's experience withdrawing funds.


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