MTGOX - International Wire Transfer Has Not Arrived After 24 Days

[playitoff2577]

Any news guys? This is really disturbing.

What's to stop Mt Gox just swallowing up someone's coin and not send out their wires as requested?

It would take local legal action with a Japanese lawyer to pursue any claims.

Assuming the corporate veil exists the same way as it does in western jurisdictions, what's to stop the directors jumping ship and creditors having to go after 5/10 cents in the dollar? Or less. 

Chasing these funds isn't something that we should have to be doing...

Investigations? What sort? By Mt Gox's bank? Isn't Mt Gox a customer of its bank and therefore should take responsibility for its client's funds and not just blame someone else?

Why happened with HSBC?

My funds were released eventually, but took many weeks and a LOT of heartache.

Why are funds taking so long to hit Thailand if its "US Tax related"?

+1

Glad to see that your funds were finally released, unfortunately im still in the same position

[hoki]

This is getting scary to be honest. Am also waiting for 3 weeks for the wire to hit my bank account in Ukraine.

What is happening?

[hoki]

To be honest, a lot of small things occurring in a short period of time has caused some withdrawals to be delayed for certain customers.

Can you please be more specific? What "small things" can possibly delay a wire transfer for so long?

[LordGreynick]

To be honest, a lot of small things occurring in a short period of time has caused some withdrawals to be delayed for certain customers.

Can you please be more specific? What "small things" can possibly delay a wire transfer for so long?

The message is clear. DO NOT use Mt Gox until they have their issues sorted out.

The lack of response just booms of cash flow issues. They're selectively (based on size of transactions by the looks of things) not paying wire transfers and probably using the funds for their operational costs.

If not, then what? Explain! These aren't small amounts of money and a month without it can really affect fledgling BitCoin businesses!

[Jointops420]

Shouldnt they be making good interest from the deposits they hold? On the order books alone atm theres $1,234,656 of buy orders and I wonder how much they hold that are not on the order books where people are watching how the market goes before placing their order.
They shouldnt have a cash problem imo but I am no accountant.

[MarketNeutral]

The SWIFT system functions in a very straightforward manner. The banks that sent these wire transfers, what have they confirmed? An investigation? That the funds are still in transit? That they've arrived? Don't only get Gox's side of the story. Have your bank pull up the record for the wire and see where it went. Most banks ought to be able to confirm if an investigation is being conducted. Regardless.....Cui bono?

[LordGreynick]

The SWIFT system functions in a very straightforward manner. The banks that sent these wire transfers, what have they confirmed? An investigation? That the funds are still in transit? That they've arrived? Don't only get Gox's side of the story. Have your bank pull up the record for the wire and see where it went. Most banks ought to be able to confirm if an investigation is being conducted. Regardless.....Cui bono?

In my case, I did contact my bank.

This is the reply I got:

We refer to your trace request for the above NetBank payment, please be advised that we have
received the following message from our clearer bank, quote:
WE RECEIVED FROM SCBLJPJT AS QUOTE. PLEASE BE ADVISED THAT THE PAYMENT
JPY433,985. WAS EFFECTED BY SCBLJPJT WITH VALUE 18/APR/12 DEDUCTING OUR CHARGE
JPY3,000. UNDER OUR REF 20120417XXXXXXXXX TO RECIPIENT BANK AND THE FUNDS HAVE
BEEN HELD BY RECIPIENT BANK WAITING FOR RECIPIENT INSTRUCTIONS, THAT IS, THE
ARRIVAL OF THE FUNDS WAS INFORMED BY RECIPIENT BANK TO RECIPIENT ON 18/APR/12.
Unquote:
Please advise the recipient to contact their bank if they are still calaiming non receipt of funds, we have
closed our file until further instructions.

So payment arrived less than a day after I sent it. Mt Gox can claim they haven't received the funds all they want or that they are "pending" but the fact is, they got the money. This is for sending money IN - with funds out, they are just not sending them - simple as that.

[MagicalTux]

The SWIFT system functions in a very straightforward manner. The banks that sent these wire transfers, what have they confirmed? An investigation? That the funds are still in transit? That they've arrived? Don't only get Gox's side of the story. Have your bank pull up the record for the wire and see where it went. Most banks ought to be able to confirm if an investigation is being conducted. Regardless.....Cui bono?

In my case, I did contact my bank.

This is the reply I got:

We refer to your trace request for the above NetBank payment, please be advised that we have
received the following message from our clearer bank, quote:
WE RECEIVED FROM SCBLJPJT AS QUOTE. PLEASE BE ADVISED THAT THE PAYMENT
JPY433,985. WAS EFFECTED BY SCBLJPJT WITH VALUE 18/APR/12 DEDUCTING OUR CHARGE
JPY3,000. UNDER OUR REF 20120417XXXXXXXXX TO RECIPIENT BANK AND THE FUNDS HAVE
BEEN HELD BY RECIPIENT BANK WAITING FOR RECIPIENT INSTRUCTIONS, THAT IS, THE
ARRIVAL OF THE FUNDS WAS INFORMED BY RECIPIENT BANK TO RECIPIENT ON 18/APR/12.
Unquote:
Please advise the recipient to contact their bank if they are still calaiming non receipt of funds, we have
closed our file until further instructions.

So payment arrived less than a day after I sent it. Mt Gox can claim they haven't received the funds all they want or that they are "pending" but the fact is, they got the money. This is for sending money IN - with funds out, they are just not sending them - simple as that.

You know, this transfer was credited to your account more than a week ago, and I can see you already spent & withdrew it. I don't see why you're posting about this today.

[LordGreynick]

The SWIFT system functions in a very straightforward manner. The banks that sent these wire transfers, what have they confirmed? An investigation? That the funds are still in transit? That they've arrived? Don't only get Gox's side of the story. Have your bank pull up the record for the wire and see where it went. Most banks ought to be able to confirm if an investigation is being conducted. Regardless.....Cui bono?

In my case, I did contact my bank.

This is the reply I got:

We refer to your trace request for the above NetBank payment, please be advised that we have
received the following message from our clearer bank, quote:
WE RECEIVED FROM SCBLJPJT AS QUOTE. PLEASE BE ADVISED THAT THE PAYMENT
JPY433,985. WAS EFFECTED BY SCBLJPJT WITH VALUE 18/APR/12 DEDUCTING OUR CHARGE
JPY3,000. UNDER OUR REF 20120417XXXXXXXXX TO RECIPIENT BANK AND THE FUNDS HAVE
BEEN HELD BY RECIPIENT BANK WAITING FOR RECIPIENT INSTRUCTIONS, THAT IS, THE
ARRIVAL OF THE FUNDS WAS INFORMED BY RECIPIENT BANK TO RECIPIENT ON 18/APR/12.
Unquote:
Please advise the recipient to contact their bank if they are still calaiming non receipt of funds, we have
closed our file until further instructions.

So payment arrived less than a day after I sent it. Mt Gox can claim they haven't received the funds all they want or that they are "pending" but the fact is, they got the money. This is for sending money IN - with funds out, they are just not sending them - simple as that.

You know, this transfer was credited to your account more than a week ago, and I can see you already spent & withdrew it. I don't see why you're posting about this today.

Because my money was tied up, twice - for many weeks on end with little more than a "its being held up" and lies by Mt Gox... ie "the funds are pending" when they were received. Other people's cash tied up too. I'm concerned about Mt Gox and the way they aren't paying people. In what universe is that acceptable???

The fact that you can't see why I'm posting about this today is indicative of the problem. People are withdrawing their cash and they're not getting it. That's just not on and the community should be made aware of it. 

Its the same when a scammer manages to scam someone. Let everyone know that the scammer scammed and what he/she/organisation did and perhaps it will discourage or prevent them from doing it again ...

[modrobert]

I finally received my bank wire transfer to Bangkok, checked today, took 12 days. After contacting Mt.Gox support via email it was quickly resolved in a professional manner.

[dirtydiego]

I too have been experiencing difficulties with MtGOX withdraws over the past 3 weeks. It's very frustrating! I did however notice a wire I had pending since April 23rd switch in MTGOX system's from "new" too "processed"  today; although it has yet to hit my bank. Here is hoping these issue will be resolved asap!

[dirtydiego]

Hi Everyone,

I know that you are all upset with the situation and that many of you are really frustrated. To be honest, a lot of small things occurring in a short period of time has caused some withdrawals to be delayed for certain customers. I can assure you that this is not a common issue, and only a small number of people are affected by this.

Now, while this will not help to solve the problem for the affected users, rest assured that we are actively working on improving the speed and reliability of our transactions, since it is for us of the utmost importance! Also we are working on a revamped withdrawal and deposit system that will be not only cheaper but also much faster and far more convenient that what we have today. I have no ETA for you on this, but we are working like crazy to make it happen soon

Once again, we are very sorry for the delays that some of you are suffering from, please remember that we are not stalling or forgetting you, we are working on it case by case!

What issues? Tell us more. Otherwise it just sounds like a company is about to bust. This is what usually happens just before a foreclosure.

I do not have all details since I am not directly link to this part of Mt.Gox. Anyway rest assure we are far from foreclosure, WAY FAR... Once again everything should go back to normal soon for the few of you how have been touch by this problem.

Regards

the few...well Im one of them, and you guys know who I am. Common get back on track this is too long to take to withdraw

[hoki]

I have finally received the wire. False alarm

[LordGreynick]

I have finally received the wire. False alarm

how long from request to fulfillment?

[hoki]

I have finally received the wire. False alarm

how long from request to fulfillment?

3 weeks

[dirtydiego]

Tomorrow will be 14 days after they already said it was processed just waiting to get to my bank when this should be instant once done from their bank....? They said golden week caused the delay, which i'm sure it did but my delays started way before this.... so I';m hoping tomorrow my transfer they said cleared on their end, actually clears

[dirtydiego]

hoping by late tonight the wire hits my account as they said it would..... Please help team mtgox! thank you!