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Author Topic: [ANN] Introducing a new 1.5% fee on Barclays cash deposit  (Read 1707 times)
Mt.Gox_Alex
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August 07, 2012, 02:58:02 AM
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https://mtgox.com/press_release_20120806.html

TOKYO - JAPAN - August 6, 2012 - Due to Barclay’s recent change in its fee structure regarding cash deposit to Mt.Gox account, we are now obliged to change our policy and apply such fees to our customers.

Our Mt.Gox Barclays bank account was originally setup to only handle domestic transfers and never cash deposits. While this situation has been largely ignored by Barclays until today, the overall sheer volume of the cash deposits forced Barclays to finally charge a fee for each of these cash deposits.

Starting from today onward, cash deposits made to our UK Barclays account will now be subject to a 1.5% fee and will be automatically deducted from the total amount you wish to remit.

While we understand the possible inconvenience such new fees will have on our UK users, we would like to reassure them that we are merely enacting Barclay's new cash deposit fee structure.

Regards
Mt.Gox Co. Ltd Team.

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press@mtgox.com

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Stephen Gornick
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August 07, 2012, 12:08:56 PM
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the overall sheer volume of the cash deposits forced Barclays to finally charge a fee for each of these cash deposits.

Mt. Gox has been accepting cash deposits at Barclays?    Who knew?
Mt.Gox_Alex
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August 08, 2012, 01:02:23 AM
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the overall sheer volume of the cash deposits forced Barclays to finally charge a fee for each of these cash deposits.

Mt. Gox has been accepting cash deposits at Barclays?    Who knew?

Well, our Barclays account was NOT setup for that, but some people start using it this way, it worked despite that we were not normally permitted to do so. Barlcays ignored it for a very long period of time until just recently. Basically they are not shutting down this method but now charge for it.

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bg002h
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August 08, 2012, 02:38:27 AM
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Don't banks need cash?

Hardforks aren't that hard.
1GCDzqmX2Cf513E8NeThNHxiYEivU1Chhe
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August 08, 2012, 05:03:16 AM
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the overall sheer volume of the cash deposits forced Barclays to finally charge a fee for each of these cash deposits.

Mt. Gox has been accepting cash deposits at Barclays?    Who knew?

Well, our Barclays account was NOT setup for that, but some people start using it this way, it worked despite that we were not normally permitted to do so. Barlcays ignored it for a very long period of time until just recently. Basically they are not shutting down this method but now charge for it.

So this is a new service for Mt. Gox. 

Any Mt. Gox accountholder in the UK can visit a Barclays and deposit cash and have that credited just as if it were a bank transfer, except that a 1.5% fee is subtracted?

Is this correct?

What cash is accepted, just GBPs?
Mt.Gox_Alex
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August 08, 2012, 05:47:49 AM
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the overall sheer volume of the cash deposits forced Barclays to finally charge a fee for each of these cash deposits.

Mt. Gox has been accepting cash deposits at Barclays?    Who knew?

Well, our Barclays account was NOT setup for that, but some people start using it this way, it worked despite that we were not normally permitted to do so. Barlcays ignored it for a very long period of time until just recently. Basically they are not shutting down this method but now charge for it.

So this is a new service for Mt. Gox. 

Any Mt. Gox accountholder in the UK can visit a Barclays and deposit cash and have that credited just as if it were a bank transfer, except that a 1.5% fee is subtracted?

Is this correct?

What cash is accepted, just GBPs?

I won't call it a new service per se, but yes it will work normally like a Bank Transfer with however a 1.5% fee. This account only accept GBP indeed.

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August 08, 2012, 03:24:15 PM
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I won't call it a new service per se, but yes it will work normally like a Bank Transfer with however a 1.5% fee. This account only accept GBP indeed.

Ok, regardless of whether it is a new option or not, it was a well kept secret.    It is not mentioned in the list of options for "Add Funds".

So, just to clarify ... the Mt. Gox account owner can go to a Barclays without being a Barclays customer and still deposit cash and have it (less a 1.5% fee) arrive in the specified Mt. Gox account?

And there is no need to notify Mt. Gox about this?  Simply deposit cash and for the memo give the Mt. Gox account number (as described here?):
 - https://support.mtgox.com/entries/20490576-withdrawals-and-deposits
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August 15, 2012, 07:03:19 AM
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I won't call it a new service per se, but yes it will work normally like a Bank Transfer with however a 1.5% fee. This account only accept GBP indeed.

Ok, regardless of whether it is a new option or not, it was a well kept secret.    It is not mentioned in the list of options for "Add Funds".

So, just to clarify ... the Mt. Gox account owner can go to a Barclays without being a Barclays customer and still deposit cash and have it (less a 1.5% fee) arrive in the specified Mt. Gox account?

And there is no need to notify Mt. Gox about this?  Simply deposit cash and for the memo give the Mt. Gox account number (as described here?):
 - https://support.mtgox.com/entries/20490576-withdrawals-and-deposits


I'd also like clarification on this. Am I right in saying that online bank transfers won't be charged?

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