Are USD Withdrawals From Mt Gox to Dwolla Still Taking Weeks?

[EuSouBitcoin]

"We are still waiting for Dwolla to give us a "Green Light" and continue to work with them. Since we do not have any reply from them after sending them all the necessary documentation we want to play safe."

Mt Gox when do you expect to receive an answer from Dwolla regarding the "Green Light"?

[1714859787]

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[1714859787]

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[Mt.Gox Support]

"We are still waiting for Dwolla to give us a "Green Light" and continue to work with them. Since we do not have any reply from them after sending them all the necessary documentation we want to play safe."

Mt Gox when do you expect to receive an answer from Dwolla regarding the "Green Light"?

Ask them, not us! As I said, one of my colleague did send everything Dwolla asked several weeks ago (now 3?), I contacted personally Ben Milne over a week ago by email and no reply. I won't give up I will try to get in touch with them, but at this stage we are waiting for them and ready to work with them like in the past!

[drlatino999]

For Science - I plan on moving around $2500 out of Gox using Dwolla. Due to the fact that my count has become unverified (WTF mate...) I have resubmitted my documentation. As such, I will document exactly how long it takes for money to actually hit a bank using this method, and this will occur each month on the 1st as a standardized metric (without the resubmitting of the AML documents hopefully). I would do a wire, but I don't trust Gox to not delay it and the other methods start shaving too much off the top.


July Transfer
AML Verification
July 1 1245 - July 1 2038

Mt. Gox -- Dwolla
July 2 0744 - July 2 2035
July 3 0714 - July 5 0944

Dwolla -- Bank
July 2 2040 - July 5 1500
July 5 0952 - July 6 1500

[Kluge]

ACHs are reversible for >60 days. It's a little more ballsy to fraudulently reverse an ACH transaction, but very possible. I wouldn't want to have hundreds of thousands of dollars effectively "pending" in the ACH reversal window. Fwiw.

[Mt.Gox Support]

**Withdrawal Limits not increased yet by Gox even though verified, having to do multiple Dwolla pulls.

Hi

This is in fact normal, being verified does not automatically raise your limits. You have to contact the support for that as explained during the process. So just contact the support and they will handle it for you quickly.

Cheers

[drlatino999]

**Withdrawal Limits not increased yet by Gox even though verified, having to do multiple Dwolla pulls.

Did as requested, in the email:

Dear My Mtgox User Name,

We are pleased to inform you that the identification documentation you have submitted has been reviewed, and your account has been upgraded to "Verified" status.

If you would like to request a withdrawal limit increase (up to 10x your current daily limit, and up to 5x your current monthly limit), please reply back to this email with the below.


Wallet (BTC/USD/ETC): 0.0000 btc/ my wallet balance
New Daily Limit: 1600 btc/$4,000

Wallet (USD/EUR/ETC):  0.0000btc / my wallet balance
New Monthly Limit: 3000 btc / $10,000

Hi

This is in fact normal, being verified does not automatically raise your limits. You have to contact the support for that as explained during the process. So just contact the support and they will handle it for you quickly.

Cheers

In other news, kudos on the Dwolla transfer, same day. I may have to take back some of my scorn. Have two more transfers to do and are interested in how they will turn out

[EuSouBitcoin]

I'll be a guinea pig. I requested to withdraw between $6K and $7K from Mt Gox to my Dwolla account on June 29, 2012. Let's see how long it takes to arrive in my Dwolla account. As of July 2nd, the status in history of my Mt Gox account says "confirmed". Mt Gox says 8 business days to do the transfer. Let's see what happens.

[drlatino999]

I'll be a guinea pig. I requested to withdraw between $6K and $7K from Mt Gox to my Dwolla account on June 29, 2012. Let's see how long it takes to arrive in my Dwolla account. As of July 2nd, the status in history of my Mt Gox account says "confirmed". Mt Gox says 8 business days to do the transfer. Let's see what happens.

You can compare your experience with mine in post #23, maybe track in a similar format?

[drlatino999]

Update - Day 1 Dwolla transaction was 13 hours, day 2 is at 15 hours and counting. By morning I will hopefully see an update.

[TwinTurbo]

The last three transactions I've done from MtGox to Dwolla over the last month or two have all taken greater than 8-10 days. In each instance, the amount was between $500 - $1,000.

There's got to be a better way. This is getting pretty ridiculous.

[Mt.Gox Support]

The last three transactions I've done from MtGox to Dwolla over the last month or two have all taken greater than 8-10 days. In each instance, the amount was between $500 - $1,000.

There's got to be a better way. This is getting pretty ridiculous.

The better way? Ask Dwolla to send us "Writing Consent" that we asked for, it is now over 4 weeks that we replied to all their question and still waiting.

[TwinTurbo]

The last three transactions I've done from MtGox to Dwolla over the last month or two have all taken greater than 8-10 days. In each instance, the amount was between $500 - $1,000.

There's got to be a better way. This is getting pretty ridiculous.

The better way? Ask Dwolla to send us "Writing Consent" that we asked for, it is now over 4 weeks that we replied to all their question and still waiting.

Thanks for the insight. My apologies if it seemed like I was blaming Mt. Gox. I wasn't aware that Dwolla was holding things up. Where can I learn more about it? Does Mt. Gox have any suggested alternatives to get money to a US bank account that are not too expensive?

For all the difficulties, I still appreciate the service Mt. Gox provides, as well as the fast support response.

[Mt.Gox Support]

The last three transactions I've done from MtGox to Dwolla over the last month or two have all taken greater than 8-10 days. In each instance, the amount was between $500 - $1,000.

There's got to be a better way. This is getting pretty ridiculous.

The better way? Ask Dwolla to send us "Writing Consent" that we asked for, it is now over 4 weeks that we replied to all their question and still waiting.

Thanks for the insight. My apologies if it seemed like I was blaming Mt. Gox. I wasn't aware that Dwolla was holding things up. Where can I learn more about it? Does Mt. Gox have any suggested alternatives to get money to a US bank account that are not too expensive?

For all the difficulties, I still appreciate the service Mt. Gox provides, as well as the fast support response.

No Problems here. Dwolla's silence is not helping in us in intrusting them with a LOT of money...

[eliale]

It is my understanding you do also have a USA based company (otherwise it would be hard to work with Dwolla), why don't you offer ACH payments?

They are safe on your side, not expensive (maybe free) and in 2/3 days are credited.

It could be a good alternative solution

[drlatino999]

The last three transactions I've done from MtGox to Dwolla over the last month or two have all taken greater than 8-10 days. In each instance, the amount was between $500 - $1,000.

There's got to be a better way. This is getting pretty ridiculous.

I'm starting to think that may be the past, unless Gox is just humoring me to throw the statistics (highly unlikely).

[waltmarkers]

It is my understanding you do also have a USA based company (otherwise it would be hard to work with Dwolla), why don't you offer ACH payments?

They are safe on your side, not expensive (maybe free) and in 2/3 days are credited.

It could be a good alternative solution

This.  ACH would really be wonderful for US users.

[mjsbuddha]

The last three transactions I've done from MtGox to Dwolla over the last month or two have all taken greater than 8-10 days. In each instance, the amount was between $500 - $1,000.

There's got to be a better way. This is getting pretty ridiculous.

I'm starting to think that may be the past, unless Gox is just humoring me to throw the statistics (highly unlikely).

Not for me. My last dwolla withdrawal was 2012/6/27 23:19:17. Has yet to go through.

[drlatino999]

The last three transactions I've done from MtGox to Dwolla over the last month or two have all taken greater than 8-10 days. In each instance, the amount was between $500 - $1,000.

There's got to be a better way. This is getting pretty ridiculous.

I'm starting to think that may be the past, unless Gox is just humoring me to throw the statistics (highly unlikely).

Not for me. My last dwolla withdrawal was 2012/6/27 23:19:17. Has yet to go through.

Are you confirmed as AML verified on both end?

Update - All of my funds cleared by Friday, total of four business days.

[mjsbuddha]

The last three transactions I've done from MtGox to Dwolla over the last month or two have all taken greater than 8-10 days. In each instance, the amount was between $500 - $1,000.

There's got to be a better way. This is getting pretty ridiculous.

I'm starting to think that may be the past, unless Gox is just humoring me to throw the statistics (highly unlikely).

Not for me. My last dwolla withdrawal was 2012/6/27 23:19:17. Has yet to go through.

Are you confirmed as AML verified on both end?

Update - All of my funds cleared by Friday, total of four business days.

Yep. Confirmed. Still waiting on $200 withdrawal to dwolla

[EuSouBitcoin]

My account has had "Verfied Status (Level 1)" for over 6 months. I'm still waiting for USD to arrive in my Dwolla account which was requested from Mt Gox on June 29th.