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Author Topic: Are USD Withdrawals From Mt Gox to Dwolla Still Taking Weeks?  (Read 9115 times)
EuSouBitcoin
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July 13, 2012, 12:37:03 PM
 #61

I sold my other 800 BTC on July 12 at BitFloor. Granted the market was not as thick as at Mt Gox. But it was thick enough to get my approx 900 BTC total sold. Now, I'll be the guinea pig at BitFloor. On July 13th I requested to withdraw between $6K and $7K from BitFloor to my checking account at an American bank via ACH. Let's see if BitFloor can do better than Mt Gox in terms of withdrawing USD.
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Lobstertorch
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July 13, 2012, 07:01:55 PM
 #62

I sold my other 800 BTC on July 12 at BitFloor. Granted the market was not as thick as at Mt Gox. But it was thick enough to get my approx 900 BTC total sold. Now, I'll be the guinea pig at BitFloor. On July 13th I requested to withdraw between $6K and $7K from BitFloor to my checking account at an American bank via ACH. Let's see if BitFloor can do better than Mt Gox in terms of withdrawing USD.

Please do report back Smiley, very pleased with bitfloor so far but have not tried to withdraw USD.
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July 13, 2012, 11:08:55 PM
 #63

Please do report back Smiley, very pleased with bitfloor so far but have not tried to withdraw USD.

So far I've done 3 ACH withdrawls from Bitfloor .. all 3 have taken approximate 48 hours from time of request to money avaliable in my bank account.

Sigg 

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July 14, 2012, 12:47:57 AM
 #64

Please do report back Smiley, very pleased with bitfloor so far but have not tried to withdraw USD.

So far I've done 3 ACH withdrawls from Bitfloor .. all 3 have taken approximate 48 hours from time of request to money avaliable in my bank account.

Sigg 

Thank you sir, a great platform Tongue, although they do deal with much less volume.
EuSouBitcoin
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July 16, 2012, 12:59:55 PM
 #65

I sold my other 800 BTC on July 12 at BitFloor. Granted the market was not as thick as at Mt Gox. But it was thick enough to get my approx 900 BTC total sold. Now, I'll be the guinea pig at BitFloor. On July 13th I requested to withdraw between $6K and $7K from BitFloor to my checking account at an American bank via ACH. Let's see if BitFloor can do better than Mt Gox in terms of withdrawing USD.

I'm happy to report that the USD were direct deposited from BitFloor to my checking account on July 16th, 2012. Withdrawal from BitFloor requested on Friday and received 3 calendar days later on Monday. That's fast! Watch out Mt Gox. There's a new player in the game and he plays hardball.

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July 16, 2012, 01:45:24 PM
 #66

Hopefully that means direct deposit to bank accounts. Although - and nothing personal against MtGox - I think this particular issue is good for bitcoin because it's spreading people out across several other exchanges. It'll be better for the longterm adoption of BTC since it lessens the impact of one exchange site crashing or going down temporarily - not that I think it's as much of a problem as in the past.

MtGox already offers bank wires.  There is no possible way to move funds faster in the fiat banking world.  MtGox payouts by wire take 14 to 21 days.  Kinda hard to see how the slower ACH/Direct Deposit would improve anything.
chrisrico
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July 16, 2012, 01:49:03 PM
 #67

There is no possible way to move funds faster in the fiat banking world.

Oh yeah? What about a private jet stuffed full of cash, mister smarty pants?
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July 16, 2012, 01:54:25 PM
 #68

There is no possible way to move funds faster in the fiat banking world.

Oh yeah? What about a private jet stuffed full of cash, mister smarty pants?
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EuSouBitcoin
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July 16, 2012, 01:58:06 PM
 #69

USD Withdrawals should be safe, fast and cheap. Bank Wire transfers are safe and fast, but not that cheap. The other issue is how long are withdrawals actually taking from Mt Gox? I know withdrawals via Dwolla are still slow, I just tried it. How are the withdrawal times from Mt Gox via Bank Wire? Things that should be fast aren't. That's the problem.
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July 16, 2012, 02:02:29 PM
 #70

I sold my other 800 BTC on July 12 at BitFloor. Granted the market was not as thick as at Mt Gox. But it was thick enough to get my approx 900 BTC total sold. Now, I'll be the guinea pig at BitFloor. On July 13th I requested to withdraw between $6K and $7K from BitFloor to my checking account at an American bank via ACH. Let's see if BitFloor can do better than Mt Gox in terms of withdrawing USD.

Are you Brazilian or American after all?

There seems be to be quite a few expats among us   Smiley
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July 17, 2012, 06:19:45 PM
 #71


I realize there's no volume there, but I wonder about an exchange like CampBX, being US-based.. whether it would be faster to Dwolla. I had high hopes for CampBX, but it seems to have fallen to disuse like so many other attempts.


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July 17, 2012, 06:49:09 PM
 #72

CampBX killed my interest when they started putting a 10second delay on API calls. Horrible way to fix their traffic problem - how about temporarily blacklisting IPs?

Later they said "we reduced the delay time some, come back!" Sorry guys. Provide a real solution with 0 throttling for non-offenders or don't expect me to come back.

Also, BitFloor covers ACH transfers themselves (smart) and CampBX wants to charge a fee. They also offer a significantly lower commission and a liquidity rebate.

Hopefully CampBX takes notice and offers competitive rates and services soon.


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DeathAndTaxes
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July 17, 2012, 07:01:07 PM
 #73

I have to say Bitfloor has been pro.  #1 of all exchanges so far. 
Sure there are things I wish they could add or change but the core (deposit, trade, withdraw) is solid.
shtylman
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July 17, 2012, 07:55:51 PM
 #74

I have to say Bitfloor has been pro.  #1 of all exchanges so far. 
Sure there are things I wish they could add or change but the core (deposit, trade, withdraw) is solid.

We welcome all suggestions Smiley Please send them to the support email and we will make note of them!

Many of the improvements we make to the website are a direct result of users like yourself sending us these suggestions.
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July 17, 2012, 09:14:39 PM
 #75

I just tried out BitInstant after cashing out some bitcoins on MtGox. I sent money to a PayPal account from a MtGox code (dollars). It was a painless and straightforward process, aside from the 6% processing fee. Funds were in my PayPal account within an hour. There was some delay which I think was because I was a first time user. From PayPal its just 3-4 days to the bank, or instant from an ATM if you have a PayPal debit card.

Thanks BitInstant!
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July 26, 2012, 11:37:52 PM
 #76

If I'm verified with mtgox and/or dwolla, would it still take weeks to withdraw USD from mtgox to dwolla? This is a problem for the past couple of months, has it been fixed yet?

DeathAndTaxes
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July 26, 2012, 11:44:48 PM
 #77

If I'm verified with mtgox and/or dwolla, would it still take weeks to withdraw USD from mtgox to dwolla? This is a problem for the past couple of months, has it been fixed yet?

Yes.  Likely 2-3 weeks.  To avoid the dwolla delay you could pay extra for a bank wire.  If you do that you should have your money in 2-3 weeks.
Mt.Gox_Support_Natalie
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July 27, 2012, 02:49:54 AM
 #78

Hello,

We have sent out more international wire withdrawals today.  These are taking approximately 1 week.  As for Dwolla withdrawals, they are currently taking about 8 business days.   This was as explained before that we are still waiting for the written consent from Dwolla.  Our apologies for any inconvenience caused and thank you for your continued support to Mt.Gox.
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July 27, 2012, 02:55:21 AM
 #79

Hello,

We have sent out more international wire withdrawals today.  These are taking approximately 1 week.  As for Dwolla withdrawals, they are currently taking about 8 business days.   This was as explained before that we are still waiting for the written consent from Dwolla.  Our apologies for any inconvenience caused and thank you for your continued support to Mt.Gox.

Natalie, there was talk of an alternate withdraw method coming soon. Any new updates on that?

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July 27, 2012, 03:03:37 AM
 #80

Hello,

We have sent out more international wire withdrawals today.  These are taking approximately 1 week.  As for Dwolla withdrawals, they are currently taking about 8 business days.   This was as explained before that we are still waiting for the written consent from Dwolla.  Our apologies for any inconvenience caused and thank you for your continued support to Mt.Gox.

Natalie, there was talk of an alternate withdraw method coming soon. Any new updates on that?

Hello,

We are applying to use the service of a global payment service provider and if our application is approved, we will make sure to announce this.   
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