MTGOX really having major issues!

[dirtydiego]

I have had major issue with MTGOX and withdrawing for over 3 weeks now and it's keep getting delayed. I noticed a few other threads about it also. Who is is having major trouble with them. I just warn people to stay away until they resolve, the probably $100,000's of dollars they owe people, that many are being affected by this glitch....?

[Bigpiggy01]

Dude,

Take a chill pill. They've publicly posted that they've been having issues with withdrawals and it's a major holiday in Japan at the moment. Furthermore you've shared bugger all about the withdrawal they've delayed etc making this entire thread into an even worse than Goat rant as he'll at least share the details so people have a chance to form an opinion.

[dirtydiego]

Dude,

Take a chill pill. They've publicly posted that they've been having issues with withdrawals and it's a major holiday in Japan at the moment. Furthermore you've shared bugger all about the withdrawal they've delayed etc making this entire thread into an even worse than Goat rant as he'll at least share the details so people have a chance to form an opinion.

Yes I know all about their major holiday golden week, however my issue are started weeks before that. What details do you want, all my wire pending and since when? where to start.....

[Bigpiggy01]

Well for starters like what country you're trying to wire funds to as that could be very relevant. Afaik (gossip heard while doing English training for a large bank here) there have been "delays" at several major banks here in China, Japan, Korea and from several US banks over the last month or so on wires to most watch-listed countries, I believe that that means AML etc for  countries with active terrorist cells like Pakistan, Thailand etc are being tightened even further.

If you're in a place like that expect a lot of hassle. I'm in China and am quite happy if wires show up on time (thank you Cryptox) but as a rule I expect wires to take at least a fortnight.

If you're in the US and using Dwolla apparently they have been screwing over btc related businesses over the last several weeks. An alternative to waiting for stuff like that might be joining #bitcoin-otc on freenode and trade your MT Gox cash (after cancelling your withdrawal) for some other form of cash with one of the WELL RATED AND RESPECTED members of it.

[dirtydiego]

Well for starters like what country you're trying to wire funds to as that could be very relevant. Afaik (gossip heard while doing English training for a large bank here) there have been "delays" at several major banks here in China, Japan, Korea and from several US banks over the last month or so on wires to most watch-listed countries, I believe that that means AML etc for  countries with active terrorist cells like Pakistan, Thailand etc are being tightened even further.

If you're in a place like that expect a lot of hassle. I'm in China and am quite happy if wires show up on time (thank you Cryptox) but as a rule I expect wires to take at least a fortnight.

If you're in the US and using Dwolla apparently they have been screwing over btc related businesses over the last several weeks. An alternative to waiting for stuff like that might be joining #bitcoin-otc on freenode and trade your MT Gox cash (after cancelling your withdrawal) for some other form of cash with one of the WELL RATED AND RESPECTED members of it.

Well it's to the US and it's my business bank account. It's been 9 business days since my last wire. I have many of them and not one has cleared. It says in the MTGOX system that it went from "new" to "processed", which normally means I should have access to it. Or at least that's what it's meant in the past and still nothing.No word from MTGOX other than an run around for the last few weeks and now golden week to wait even longer.....

I respect their holidays but this transfer should have gone through before their week long holidays. Before I made  the transfer I had to cancel other withdraw methods with MTGOX because those were also taking very long.

[dirtydiego]

finally got a response.... now just hoping for the best!

Mt.Gox Support, May 04 10:27 (JST):
Hello,
Please be aware that your bank transfer is completed by our bank but may need several business days to reflect on your account due to Golden Week. Regarding your Dwolla transfers, they are still pending and will be processed within few business days. We will notify you as soon as this is processed.
Thanks,
MtGox.com Team

[hoki]

I have received the wire today, after 3 weeks. Panicked there a bit as well, but now it all looks good. Don't worry!

I doubt they had liquidity problems, just holidays..

[LordGreynick]

Dude,

Take a chill pill. They've publicly posted that they've been having issues with withdrawals and it's a major holiday in Japan at the moment. Furthermore you've shared bugger all about the withdrawal they've delayed etc making this entire thread into an even worse than Goat rant as he'll at least share the details so people have a chance to form an opinion.

Seriously man, 3 weeks isn't something to just take a chill pill about. It should never happen.

[Bigpiggy01]

Seriously man, 3 weeks isn't something to just take a chill pill about. It should never happen.

Umm yes it is if you're not being clear on what your exact issue is.
And in lots of places 2-3 weeks is closer to the norm than the 2-3 business days it's supposed to take. One of the main culprits for transfers between non "Western" countries going as badly down the drain as it often does is someone like CITI-Bank who have policies in effect that make them hold onto cash for as long as possible for whatever sad excuse they can cook up and since in many cases wires are relayed through their networks it fucks with everybody.

[dirtydiego]

I have received the wire today, after 3 weeks. Panicked there a bit as well, but now it all looks good. Don't worry!

I doubt they had liquidity problems, just holidays..

awesome! glad to hear. Mine have been 3 weeks and they told me today that it would be done, because it says in their system as processed when it has yet to hit my bank. So they said since it's golden week it slowed things down but that they're bank got it done. Makes me feel better! I was seriously gonna have a meltdown lol

[LordGreynick]

Seriously man, 3 weeks isn't something to just take a chill pill about. It should never happen.

Umm yes it is if you're not being clear on what your exact issue is.
And in lots of places 2-3 weeks is closer to the norm than the 2-3 business days it's supposed to take. One of the main culprits for transfers between non "Western" countries going as badly down the drain as it often does is someone like CITI-Bank who have policies in effect that make them hold onto cash for as long as possible for whatever sad excuse they can cook up and since in many cases wires are relayed through their networks it fucks with everybody.

Let's see if you get your funds that your fledgling BTC business needs urgently held up for 3 weeks and see if you feel the same way.

[Bigpiggy01]

Let's see if you get your funds that your fledgling BTC business needs urgently held up for 3 weeks and see if you feel the same way.

A) You obviously can't read as that comment of mine is not related to him being unclear not the underlying issue.

B) If you're opening a business and don't have room in your budget for mishaps, you should take a long hard look at if you're qualified to and capable of running a business.

[doldgigger]

B) If you're opening a business and don't have room in your budget for mishaps, you should take a long hard look at if you're qualified to and capable of running a business.

When it comes to money a somehow shady partner owes you, then yes, you shouldn't depend on that and have a backup plan. However, when it comes to banking services, people tend to expect some degree of reliability. I haven't heard of any business requiring for example GBP-USD exchanges which would need to open accounts with seveal banks just for the exchanges, because there would be the risk that one of them would randomly delay transactions for weeks.

The thing is, MtGox quickly acts if it was a bank when it comes to excusing random account freezes or delays. In these cases, a lot of users even excuse their actions because they see them as results of banking regulations. But if MtGox wants to play "bank", they should also act like a bank when it comes to obligations to customers. For a bank, most countries have laws which prevent transactions to require several weeks.

[miernik]

For a bank, most countries have laws which prevent transactions to require several weeks.

In fact now in European Union since 2012-01-01 came into force a law that banks and ANY payment service providers also, in the EU and EEA (so EU+Norway+Iceland+Liechtenstein) must execute a bank transfer to another country in this area latest the next day, and the receiving bank must credit it to the customer the same day it received it. So transfer can take in total exactly 1 working day (provided are ordered by some cut-off hour). So any bank (and any other entity handling money) can be sued if a transfer ordered in the morning is not in the recipients account the next working day. And that is for whole EU of 27 countries + Norway + Iceland + Liechtenstein in all currencies of those countries.

[mem]

Let's see if you get your funds that your fledgling BTC business needs urgently held up for 3 weeks and see if you feel the same way.

Couldnt you simply transfer the btc to another service and cash out, In Australia Ive had great success with bitpiggy, 2 day turn around (same country helps a lot).

[dirtydiego]

Seriously man, 3 weeks isn't something to just take a chill pill about. It should never happen.

Umm yes it is if you're not being clear on what your exact issue is.
And in lots of places 2-3 weeks is closer to the norm than the 2-3 business days it's supposed to take. One of the main culprits for transfers between non "Western" countries going as badly down the drain as it often does is someone like CITI-Bank who have policies in effect that make them hold onto cash for as long as possible for whatever sad excuse they can cook up and since in many cases wires are relayed through their networks it fucks with everybody.

Let's see if you get your funds that your fledgling BTC business needs urgently held up for 3 weeks and see if you feel the same way.

believe you me I know what you mean, the way things where looking for me I'm just happy to be getting it back FINALLY!but I do respect golden week and aas soon as it finished they go too it, for me at least.Thanks team MTGOX

[rokj]

Dude,

Take a chill pill. They've publicly posted that they've been having issues with withdrawals and it's a major holiday in Japan at the moment. Furthermore you've shared bugger all about the withdrawal they've delayed etc making this entire thread into an even worse than Goat rant as he'll at least share the details so people have a chance to form an opinion.

Seriously man, 3 weeks isn't something to just take a chill pill about. It should never happen.

Over the last year, it took from 3 days to 21 days to get money from MtGox, but at the end, I got it, so yes, chill.

(bitcoin does not care about holidays, weekends, ... while $, €, ... or better, banks does)

[miernik]

Over the last year, it took from 3 days to 21 days to get money from MtGox, but at the end, I got it, so yes, chill.

(bitcoin does not care about holidays, weekends, ... while $, €, ... or better, banks does)

Everyone should just stop sticking to MtGox with such experiences, trade on an exchange which has bank accounts in the country of your bank, where withdrawals can actually happen overnight or better.

I've been using Intersango and the longest I had to wait for a withdrawal processed was 41.9 hours! Yes, hours, that is 1.7 days. Usually I get my money in under 24 hours.

If there is no exchange with local bank accounts in your country, start one!

Or at least buy/sell MtGox coupon codes with people having an account in the same country.

So things don't have to go through SWIFT, which can not only incur unexpectable delays, but also unexpectable corespondent bank fees.

What countries are your banks in that you don't have exchanges with local bank accounts in that country?

[doldgigger]

Over the last year, it took from 3 days to 21 days to get money from MtGox, but at the end, I got it, so yes, chill.

(bitcoin does not care about holidays, weekends, ... while $, €, ... or better, banks does)

Everyone should just stop sticking to MtGox with such experiences, trade on an exchange which has bank accounts in the country of your bank, where withdrawals can actually happen overnight or better.

I've been using Intersango and the longest I had to wait for a withdrawal processed was 41.9 hours! Yes, hours, that is 1.7 days. Usually I get my money in under 24 hours.

If there is no exchange with local bank accounts in your country, start one!

This sounds great! Imagine a world with local exchanges all over the world, where each of these can guarantee deposit/withdrawal times of under 48 (or ever 24) hours. On this infrastructure, a highly reliable, world-wide BTC-backed money transfer network with 96 hours maximum transfer time to any country could be built. And more importantly, the exchanges will be more likely to work reliably because it is easier to get things right in your own country, rather than doing a mediocre job all over the world.