SEPA to MtGox takes very long

[TAiS46]

Hello,

on 26. June I make a transaction to MtGox.
I know, that the SEPA from my Bank will only take 1 day.

What I am not understanding is, that MtGox says, that they
never receive this SEPA till this moment but I am very sure they did.

Are the playing with the money?
Can someone else confirm, that the SEPA takes this long time?

Simon

[1714921626]

1714921626

[1714921626]

1714921626

[1714921626]

1714921626

[World]

Are the playing with the money?
Can someone else confirm, that the SEPA takes this long time?
Simon

I was thinking the same thing..
I was waiting 5 days

[Spekulatius]

Are the playing with the money?
Can someone else confirm, that the SEPA takes this long time?
Simon

I was thinking the same thing..
I was waiting 5 days

I called my bank, which sent a SEPA to the British account of MtGox, they said, it would take ~3 business days and should have arrived 2 weeks ago already! It has not come back, so I am certain it got there and still sits there unprocessed. I can have it sent back to me now, merritless, because my bank wants to see the balance evened up.
For shure I will use Intersango from nowon, till they get their shit together.

[kneim]

Missing SEPA transfer becomes frequent this time, see
https://bitcointalk.org/index.php?topic=91526.0;topicseen

It's your turn, Mt.Gox.

I did a successful transfer at the beginning of June. The only thing, that changed, was the identifier, starting now with "M29" instead of "MTG". Is there a relation between?

[Spekulatius]

Missing SEPA transfer becomes frequent this time, see
https://bitcointalk.org/index.php?topic=91526.0;topicseen

It's your turn, Mt.Gox.

I did a successful transfer at the beginning of June. The only thing, that changed, was the identifier, starting now with "M29" instead of "MTG". Is there a relation between?

According to this:
https://support.mtgox.com/entries/20490576-withdrawals-and-deposits

Its still "MTG" (scroll down to the "GBP Deposit (UK)". Thats what I did.

[TAiS46]

I have an M52 number on the start .... before also MTG

Will send this thread to MtGox Support

[kneim]

So, the identifier mess is the reason for this.

[Spekulatius]

The identifier was in fact, the reason the MtGox help desk person gave as well in my case. They have come back to me within only 4 hours after sending my ticket. The money has now been credited to my account; the only problem: 80 EUR! have been taken off the amount initially sent from my bank to their UK account.

I sent: 1820 EUR
UK bank converted to GBP @ unknown exchange rate edit: ~3%
Then MtGox converted GBP to USD @ unknown rate edit: 2.5%
Then they credited: $2,161.45
which is converted back to EUR at European Central Bank's current rate (EUR/USD= 1.2426): 1,739.457589 EUR
for rates see here: http://www.ecb.int/stats/exchange/eurofxref/html/index.en.html

My bank furthermore assured me, that the 1820 EUR sent are the final amount reaching the destination account (MtGox's UK account).

The difference above amounts to a 4.425% fee of the initial amount. If thats the going rate, I will not do this again. I replied to the help desk response and asked for some clarification on the resulting fees, as they are not disclosed on their website:
https://support.mtgox.com/entries/20490576-withdrawals-and-deposits

It only states:

Please note that if you do not send GBP to this account, it will be converted to GBP and some (small) fees will apply.

[OneEyed]

You're more lucky than I am. My SEPA transfer was initiated on June 26, and my request (ticket #31225) has not been resolved since it was opened on June 30. My transaction message started with M81, but I already told them all that.

[Spekulatius]

You're more lucky than I am. My SEPA transfer was initiated on June 26, and my request (ticket #31225) has not been resolved since it was opened on June 30. My transaction message started with M81, but I already told them all that.

Did you provide useful information related to your transfer that could help them find it for you? Like, your IBAN, BIC, Bank, Name, Amount sent, date sent, destination IBAN and BIC (MtGox' account details, because they have many accounts in different countries).

Apart from that, they gtot back to me an said, that the 4.425% fee was basically a conversion fee for converting EUR to GBP. Still a LARGE FEE if you ask me.

(I should probably get verified already, so that I can send SEPA to EUR denoted accounts, as soon as MtGox' reputation on processing those txs get back to normal)

[Mt.Gox Support]

The identifier was in fact, the reason the MtGox help desk person gave as well in my case. They have come back to me within only 4 hours after sending my ticket. The money has now been credited to my account; the only problem: 80 EUR! have been taken off the amount initially sent from my bank to their UK account.

I sent: 1820 EUR
UK bank converted to GBP @ unknown exchange rate
Then MtGox converted GBP to USD @ unknown rate
Then they credited: $2,161.45
which is converted back to EUR at European Central Bank's current rate (EUR/USD= 1.2426): 1,739.457589 EUR
for rates see here: http://www.ecb.int/stats/exchange/eurofxref/html/index.en.html

My bank furthermore assured me, that the 1820 EUR sent are the final amount reaching the destination account (MtGox's UK account).

The difference above amounts to a 4.425% fee of the initial amount. If thats the going rate, I will not do this again. I replied to the help desk response and asked for some clarification on the resulting fees, as they are not disclosed on their website:
https://support.mtgox.com/entries/20490576-withdrawals-and-deposits

It only states:

Please note that if you do not send GBP to this account, it will be converted to GBP and some (small) fees will apply.

Hi, I am very sorry to hear that you have some problems, however, please remember that our UK Bank (Barclay) ONLY ACCEPT GBP so it will convert ANYTHING you send it into GBP, so we we recieved GBP. Barclay is great but their conversion rate is rather steep around 3%. Also we take 2.5% when you are converting from one currency to another (https://mtgox.com/terms_of_service).

Once you made your deposit you received an email with all your transaction details including our conversion rate so stating "Then MtGox converted GBP to USD @ unknown rate" is incorrect.

Finally here you are a very simple Golden Rule to follow when you are sending money :
Send Money in EURO ? Send it to our EURO account (Poland or Japan)
Send Money in GBP ? Send it to our GBP account (UK or Japan)
Send Money in USD ? Send it to our USD account (Japan or Dwolla is you are a US Resident)

[kneim]

The identifier was in fact, the reason the MtGox help desk person gave as well in my case. They have come back to me within only 4 hours after sending my ticket. The money has now been credited to my account; the only problem: 80 EUR! have been taken off the amount initially sent from my bank to their UK account.

I sent: 1820 EUR
UK bank converted to GBP @ unknown exchange rate
Then MtGox converted GBP to USD @ unknown rate
Then they credited: $2,161.45
which is converted back to EUR at European Central Bank's current rate (EUR/USD= 1.2426): 1,739.457589 EUR
for rates see here: http://www.ecb.int/stats/exchange/eurofxref/html/index.en.html

My bank furthermore assured me, that the 1820 EUR sent are the final amount reaching the destination account (MtGox's UK account).

The difference above amounts to a 4.425% fee of the initial amount. If thats the going rate, I will not do this again. I replied to the help desk response and asked for some clarification on the resulting fees, as they are not disclosed on their website:
https://support.mtgox.com/entries/20490576-withdrawals-and-deposits

It only states:

Please note that if you do not send GBP to this account, it will be converted to GBP and some (small) fees will apply.

I'm very careful about exchange rates. They differs between 0,25% (my bank account account at Deutsche Kreditbank, from EUR to USD) up to 3%. Create an EUR account, make your first trade with this fresh money in this currency.

[OneEyed]

You're more lucky than I am. My SEPA transfer was initiated on June 26, and my request (ticket #31225) has not been resolved since it was opened on June 30. My transaction message started with M81, but I already told them all that.

Did you provide useful information related to your transfer that could help them find it for you? Like, your IBAN, BIC, Bank, Name, Amount sent, date sent, destination IBAN and BIC (MtGox' account details, because they have many accounts in different countries).

I provided with everything they asked me to, that is the bank, the account name, the date sent, the destination BIC+IBAN, the amount, the label, and even the transaction id as shown on my bank statement. They haven't asked from my IBAN and BIC.

What is troubling is that they haven't told me once that they didn't receive the money, only that they're "investigating". Although I use bitcoins in small amounts almost since day one, this was the first time I sent money to an exchange (two of them actually, and the other exchange received the money the day after and credited my BTC balance), and I never imagined it would be such a hassle when it was sold as a pretty simple and fast operation.

[kneim]

I provided with everything they asked me to, that is the bank, the account name, the date sent, the destination BIC+IBAN, the amount, the label, and even the transaction id as shown on my bank statement. They haven't asked from my IBAN and BIC.

What is troubling is that they haven't told me once that they didn't receive the money, only that they're "investigating". Although I use bitcoins in small amounts almost since day one, this was the first time I sent money to an exchange (two of them actually, and the other exchange received the money the day after and credited my BTC balance), and I never imagined it would be such a hassle when it was sold as a pretty simple and fast operation.

We are all waiting on it. I'm sure Mt.Gox is aware of it, they answered in this thread already. They shall take their time to make not even more hassle. But a little bit more communication from them would be appropriate.

[Raoul Duke]

Just a FYI: SEPA transfers should only take 24hrs at max. to be completed.
Any bank that fails to do so is breaking regulations and faces some hefty fines if customers complaint.
You guys can blame this one on MtGox alone.

[TAiS46]

Just a FYI: SEPA transfers should only take 24hrs at max. to be completed.
Any bank that fails to do so is breaking regulations and faces some hefty fines if customers complaint.
You guys can blame this one on MtGox alone.

So if the SEPA will arrive at MtGox, it will be my last trade.
Switch to http://bitcoin-24.com for EUR

[kneim]

Just a FYI: SEPA transfers should only take 24hrs at max. to be completed.
Any bank that fails to do so is breaking regulations and faces some hefty fines if customers complaint.
You guys can blame this one on MtGox alone.

You are right, but do not mix up different problems here. We are waiting on a solution of the identifier mess, and some information of Mt.Gox.

[kneim]

So if the SEPA will arrive at MtGox, it will be my last trade.
Switch to http://bitcoin-24.com for EUR

Thank you for this hint, did not know about it yet. Speed of transaction is not my major interest, but perhaps it's a trustful alternative nevertheless.

[TAiS46]

So if the SEPA will arrive at MtGox, it will be my last trade.
Switch to http://bitcoin-24.com for EUR

Thank you for this hint, did not know about it yet. Speed of transaction is not my major interest, but perhaps it's a trustful alternative nevertheless.

No fees, SEPA most within 24 Hours (Withdraw and Deposit), Prices a little bit higher but not much!

[Raoul Duke]

Just a FYI: SEPA transfers should only take 24hrs at max. to be completed.
Any bank that fails to do so is breaking regulations and faces some hefty fines if customers complaint.
You guys can blame this one on MtGox alone.

You are right, but do not mix up different problems here. We are waiting on a solution of the identifier mess, and some information of Mt.Gox.

Yes, there's always some excuse and it's never their fault

[OneEyed]

I just received this reply from Mt.Gox:

Due to more stringent requirements, SEPA deposits are now being checked for AML and therefore, it is taking a slightly longer time to credit them until the checkup is done.  We thank you for your kind understanding and patience in this matter.

I don't know what to think about it, given that they asked me for more information about my payment when I first inquired about where the money was, as if they couldn't find it in their books. Now, it is supposedly because it is "checked for AML" (note that I had sent Mt.Gox my ID and proof of residency before since they want them before accepting a SEPA transfer), but they don't give any timeframe estimation about when I will be able to use the money that I trusted them with (one hour, half a day, 24 hours?).

[Spekulatius]

So if the SEPA will arrive at MtGox, it will be my last trade.
Switch to http://bitcoin-24.com for EUR

Thank you for this hint, did not know about it yet. Speed of transaction is not my major interest, but perhaps it's a trustful alternative nevertheless.

They say on their page, feefree (lets just put that word into the bitcoindictionary) for trades and withdraws, but feeful (another one, do I have a run or what?) for deposits. They lack to explain the size of that fee, however. Does anybody know?

[TAiS46]

Deposit

• SEPA: no fee
• Bitcoin: no fee
• Sofortüberweisung (for EU): 2% + 0,25 EUR
• Credit Card: 2% + 0,25 EUR
• MtGox: 2%
• Vouchx: 2%

Withdraw

• Bitcoin: no fee
• SEPA: no fee
• Vouchx: no fee
• Skrill USD: 7%

You can see it if you are registered!

[kneim]

What is AML?

[TAiS46]

Anti-Money Laudering

[kneim]

Hope they will not mix up identifier mess with AML, that would make me angry.

[Mt.Gox Support]

It seems that most SEPA Deposit problems has been clear, if your deposit has not been cleared this is most probably due to the following problem :

The Bank Information from where the money was sent does not match the information on your Mt.Gox account. Simply Put if Jane Doe from Germany send money to Jone Doe Mt.Gox account who's registered in Italy your Deposit will normally be rejected and funds sent back to you.

Of course if you have any question please open a ticket on Mt.Gox support Page.

[OneEyed]

My deposit has been cleared after 11 days instead of one. However, I still do not feel that Mt.Gox acted openly on this one: first, I was asked for more information about the SEPA transfer itself, as if they could not find it, then after a long time without any communication from Mt.Gox I was told it was because of new AML requirements. In this case, asking me for more information about my SEPA transfer looks like you guys were trying to buy time.

If we do new SEPA transfers, should we expect the same process or has a problem that might be causing the delay be fixed on your side?

[Mt.Gox Support]

If we do new SEPA transfers, should we expect the same process or has a problem that might be causing the delay be fixed on your side?

The problem has been fixed, everything should be in ok now.

[MykelSilver]

Apparently not:

https://bitcointalk.org/index.php?topic=93846.0

[Mt.Gox_Alex]

Apparently not:

https://bitcointalk.org/index.php?topic=93846.0

This is something different. We made some major change in Europe and Mark had to fly to Poland to make these changes with our bank. Now we are working on improving the connection between the Mt.Gox in Europe and In Japan to help to speed things-up and require a rewrite of some piece of code that handle deposit and withdrawal.
Anyway this should be over and fixed by Sunday.

[MykelSilver]

Thanks for sharing the day it is probably fixed.

[Mt.Gox_Alex]

Hi everyone

Deposits are back since Saturday, Withdrawals will be back (normally) within 24hrs.