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Author Topic: Best way to withdraw MtGox to German bank account?  (Read 2396 times)
bcdd
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January 29, 2012, 10:18:52 AM
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I was trading at MtGox around August last year, and back then could easily withdraw BTC via a SEPA transaction to a German bank account, and there was also a polish website around that allowed trading BTC for PayPal (bad idea, I know).

Now things aren't so easy anymore - MtGox's international wire costs a lot (test-transferred 150 USD, got 91.94 EUR in the bank). AurumXChange tells me at the moment that MtGox codes cannot be processed, so no quote there.

Any ideas for a good way to transfer MtGox USD (or BTC, for that matter) to a German bank account without paying ridiculous processing fees?

Thanks & regards,
bcdd
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Stephen Gornick
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January 29, 2012, 12:28:13 PM
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Any ideas for a good way to transfer MtGox USD (or BTC, for that matter) to a German bank account without paying ridiculous processing fees?

Services listed in the Bitcoin wiki as offering SEPA transfers:

 - http://intersango.com ( http://en.bitcoin.it/wiki/Intersango )
 - http://www.bitcoin.de (http://en.bitcoin.it/wiki/Bitcoin.de )
 - http://www.bitstamp.net ( http://en.bitcoin.it/wiki/BitStamp )
 - http://bitcoin-central.net/order_book ( http://en.bitcoin.it/wiki/Bitcoin-Central )

 - http://en.bitcoin.it/wiki/Selling_bitcoins

And for smaller amounts to PayPal you might try:
 - http://www.spendbitcoins.com


bcdd
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January 29, 2012, 01:01:17 PM
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Any ideas for a good way to transfer MtGox USD (or BTC, for that matter) to a German bank account without paying ridiculous processing fees?

Services listed in the Bitcoin wiki as offering SEPA transfers:

 - http://intersango.com ( http://en.bitcoin.it/wiki/Intersango )
 - http://www.bitcoin.de (http://en.bitcoin.it/wiki/Bitcoin.de )
 - http://www.bitstamp.net ( http://en.bitcoin.it/wiki/BitStamp )
 - http://bitcoin-central.net/order_book ( http://en.bitcoin.it/wiki/Bitcoin-Central )

 - http://en.bitcoin.it/wiki/Selling_bitcoins

And for smaller amounts to PayPal you might try:
 - http://www.spendbitcoins.com



Thank you for this list. The first four links provide ways to Exchange BTC to EUR, but sadly, lack the liquidity of MtGox by a long way. The last link seems more promising, though I'd have preferred to transfer USD out of MtGox instead of BTC.
Stephen Gornick
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January 29, 2012, 01:21:40 PM
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but sadly, lack the liquidity of MtGox by a long way.

That's sometimes something that can work in your favor.  You are selling.  More often than not, the buyers are overpaying due to the lack of liquidity -- and the sellers are profiting.  Especially on BitStamp. Unless you need to clear and then withdraw a bunch right away, try putting a sell order out there and then see what happens.

bcdd
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January 29, 2012, 01:23:11 PM
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but sadly, lack the liquidity of MtGox by a long way.

That's sometimes something that can work in your favor.  You are selling.  More often than not, the buyers are overpaying due to the lack of liquidity -- and the sellers are profiting.  Especially on BitStamp. Unless you need to clear and then withdraw a bunch right away, try putting a sell order out the and see what happens.

Good point - I'll give it a try. Thanks!
buckhead_bitcoin
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January 29, 2012, 11:37:32 PM
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I can personally assist you in this matter, I have a verified gox account and can have the money wired to you from my account.

I can also send you any sort of verification documentation.

Buckhead Computer Service Company
xepera
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February 06, 2012, 08:56:24 PM
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Okay guys - now I want to ask the other way round. What's the fastest way getting EUR to my mtgox account but as USD? Paxum is nice but 5% fee is way too much, or did I misunderstood something?

tia
mania
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February 06, 2012, 09:55:30 PM
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Okay guys - now I want to ask the other way round. What's the fastest way getting EUR to my mtgox account but as USD? Paxum is nice but 5% fee is way too much, or did I misunderstood something?

tia

you want get EUR on MtGox?

i think
https://mtgox.com/settings

Main currency: EURo
When receiving funds in a currency other than my main currency: convert to my main currency

test with a low amount
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