BitCoin is becoming less and less useful with stuff like this. I used to be able to get my measly $35/month mining profits out via Dwolla. Now I can't even do that and due to my location here it's impossible to get "Verified". No utility bills in my name.
With these constant changes in policy BitCoin has become a circus act that I'm no longer interested in watching. I'll be selling off my small mining gear and leaving it all behind.
Topic: [ANN] New AML Policy for all Dwolla users. - page 2. (Read 13383 times)
This is bullshit.
I was not notified of this new policy properly. I never read this thread until today. Nowhere on several Mt. Gox pages that I checked JUST NOW indicated this new policy. All of these pages have been printed out with date and time marked as proof.
Yesterday I sent $100 Dwolla Instant to Mt. Gox. It didn't show up in several hours so I opened a ticket. These stupid dense morons keep parroting the same press release URL in every ticket reply.
EXCEPT NOWHERE IN THE NORMAL COURSE OF LOGGING IN AND INITIATING A DWOLLA DEPOSIT, IS THIS POLICY MENTIONED.
They are refusing to even REFUND/REJECT the payment without these so called "AML" documents. It looks like I will just completely abandon my Dwolla account after sending them a long explanation as to why I am doing this without repayment of the instant balance, including blocking any attempts of them to withdrawal from my bank account.
By this point it is not so much even the requirements of the documents WERE I NOTIFIED BEFORE MAKING A DEPOSIT. Now it's a matter of principal. I don't put up with bait and switch bullshit.
Mt. Gox needs to make this right. Users were NOT PROPERLY NOTIFIED. A large, prominent notice on the page with Dwolla deposit information should have been there 2 weeks ago. My dated printout of this page proves the policy is not mentioned WHATSOEVER.
EDIT: Not to mention Dwolla essentially offers me CREDIT without so much information as Mt. Gox is wanting. I got a $3500 BarclayCard last week without so much information as Mt. Gox is wanting.
I was not notified of this new policy properly. I never read this thread until today. Nowhere on several Mt. Gox pages that I checked JUST NOW indicated this new policy. All of these pages have been printed out with date and time marked as proof.
Yesterday I sent $100 Dwolla Instant to Mt. Gox. It didn't show up in several hours so I opened a ticket. These stupid dense morons keep parroting the same press release URL in every ticket reply.
EXCEPT NOWHERE IN THE NORMAL COURSE OF LOGGING IN AND INITIATING A DWOLLA DEPOSIT, IS THIS POLICY MENTIONED.
They are refusing to even REFUND/REJECT the payment without these so called "AML" documents. It looks like I will just completely abandon my Dwolla account after sending them a long explanation as to why I am doing this without repayment of the instant balance, including blocking any attempts of them to withdrawal from my bank account.
By this point it is not so much even the requirements of the documents WERE I NOTIFIED BEFORE MAKING A DEPOSIT. Now it's a matter of principal. I don't put up with bait and switch bullshit.
Mt. Gox needs to make this right. Users were NOT PROPERLY NOTIFIED. A large, prominent notice on the page with Dwolla deposit information should have been there 2 weeks ago. My dated printout of this page proves the policy is not mentioned WHATSOEVER.
EDIT: Not to mention Dwolla essentially offers me CREDIT without so much information as Mt. Gox is wanting. I got a $3500 BarclayCard last week without so much information as Mt. Gox is wanting.
We're working on a solution right now to enable customers of MtGox to get a check, wire, or local ACH withdrawal.
Awesome!
Just got an e-mail from Dwolla "We need to verify your identity!":
- https://bitcointalksearch.org/topic/dwolla-email-we-need-to-verify-your-identity-84108
Fucking hell.
We're working on a solution right now to enable customers of MtGox to get a check, wire, or local ACH withdrawal.
Awesome!
Just got an e-mail from Dwolla "We need to verify your identity!":
- https://bitcointalksearch.org/topic/dwolla-email-we-need-to-verify-your-identity-84108
Damn Dwolla!
Hang in there boys, we're working as fast as possible
We're working on a solution right now to enable customers of MtGox to get a check, wire, or local ACH withdrawal.
Awesome!
Just got an e-mail from Dwolla "We need to verify your identity!":
- https://bitcointalksearch.org/topic/dwolla-email-we-need-to-verify-your-identity-84108
hero member
Activity: 836
Merit: 1007
"How do you eat an elephant? One bit at a time..."
Hmm...isn't this why many folks got into bitcoin in the first place? To get away from these stupid currencies and the strings attached? Just sayin'.
More reason to develop your own independent network of trusted trading partners so you can stay "off exchange".
More reason to develop your own independent network of trusted trading partners so you can stay "off exchange".
Bummer,
I'm also pretty leery of uploading my license or passport info. Guess I may just wait awhile to see what alternatives arise. Thanks for the info.
I'm also pretty leery of uploading my license or passport info. Guess I may just wait awhile to see what alternatives arise. Thanks for the info.
We're working on a solution right now to enable customers of MtGox to get a check, wire, or local ACH withdrawal.
Instead of having to upload your ID to us, you will be able to do instant AML verification via new technology we've licensed.
You will be able to securely be verified without having to upload a copy of your ID from the comfort of your living room.
In the meantime, we fully trust MtGox in their AML efforts. Within the coming week, we will probably be required to do the same for Dwolla deposits.
For this reason, we are finishing up our alternative.
More news to come soon.
Instead of having to upload your ID to us, you will be able to do instant AML verification via new technology we've licensed.
You will be able to securely be verified without having to upload a copy of your ID from the comfort of your living room.
In the meantime, we fully trust MtGox in their AML efforts. Within the coming week, we will probably be required to do the same for Dwolla deposits.
For this reason, we are finishing up our alternative.
More news to come soon.
Has anybody sent in their DL and a utility bill to make a Dwolla withdrawal since May 25th? I'm somewhat wary of sending my personal info to Mt. Gox (What will happen to my info after the fact).
There as several solutions that we are working on in order to make your life easier. I am not saying that we will offer what you suggest, but we are exploring every possibilities reduce drastically fees involved in the process as well as being able for you, all of you, to easily cash-in and cash-out. I sincerely hope that we will see such solution available before the end of June may.
Regards
Regards
That's more like it. ^^
But in all seriousness, thanks Gox.
Gox, do you plan to offer an alternate withdrawal service in the near future?
We are working on this, and may have something in June (still waiting for contract to be signed, so can't make promises at this point).
Tux, when will you guys just make it easier for everyone and offer your own in-house solution for us to simply be able to access our funds via mtgox prepaid debitcard. If the rates are reasonable loading onto the card or swiping directly, you will cancel out a ton of these extra withdrawal methods.
There as several solutions that we are working on in order to make your life easier. I am not saying that we will offer what you suggest, but we are exploring every possibilities reduce drastically fees involved in the process as well as being able for you, all of you, to easily cash-in and cash-out. I sincerely hope that we will see such solution available before the end of June.
Regards
So we're all on board wit this verification process, right?
We're not thinking this was just the longest scam in the world to obtain our driver's license & utility bills?
What's the most damage someone could do that information anyway?
Anyone care to field that question?
We're not thinking this was just the longest scam in the world to obtain our driver's license & utility bills?
What's the most damage someone could do that information anyway?
Anyone care to field that question?
Im sure if GOX can get cards that is linked directly to user balances they could setup an agreement of no chargebacks ie. they could put limitations on the card which mainly could be restricted to ATM withdrawal/swiping only and no online purchases.
Removing online purchases would make the risk on such a card service drop dramaticly.
Removing online purchases would make the risk on such a card service drop dramaticly.
I think you misunderstood what you were saying. No need to restrict online purchases. The card issuer doesn't pay the chargeback cost/loss the e-store accept it does. I thought you meant a method to both withdrawal & fund the account. If used to simply "spend the balance" there would be minimal risk.
Yep, Im looking at it as a method to get funds out with few as possible intermediate exchanges. Take me for example I need to jump through 5 exchanges right now to get funds out and it cost me 10% in fees right now combining every exchange which is simply unacceptable for the volume I am doing.
If a direct card could be used there would only be the normal foreign exchange fee from USD to my currency which is between 1.8-2.5% charged by card issuer(mastercard/visa) and then on top of that MTGOX shouldnt have to charge a fee since they know allready the medium to large account holders trading volume fees add up more than enough for them.
I was thinking this could be a fee free service for medium to high volume users and perhaps a small percentage/fix fee for low to next-to-nothing volume users.
The luxury of bitcoin fades away slowly when you start to look at fees involved to actually get your funds in your local currency, since mostly everyone still need to pay their local bills in their local currency its very important to atleast get as much out of your BTC exchange as possible.
Im sure if GOX can get cards that is linked directly to user balances they could setup an agreement of no chargebacks ie. they could put limitations on the card which mainly could be restricted to ATM withdrawal/swiping only and no online purchases.
Removing online purchases would make the risk on such a card service drop dramaticly.
Removing online purchases would make the risk on such a card service drop dramaticly.
I think you misunderstood what you were saying. No need to restrict online purchases. The card issuer doesn't pay the chargeback cost/loss the e-store accept it does. I thought you meant a method to both withdrawal & fund the account. If used to simply "spend the balance" there would be minimal risk.
Gox, do you plan to offer an alternate withdrawal service in the near future?
We are working on this, and may have something in June (still waiting for contract to be signed, so can't make promises at this point).
Tux, when will you guys just make it easier for everyone and offer your own in-house solution for us to simply be able to access our funds via mtgox prepaid debitcard. If the rates are reasonable loading onto the card or swiping directly, you will cancel out a ton of these extra withdrawal methods.
Withdrawls to a prepaid debit card would certainly be possible but even if Gox co-branded a prepaid debit card they are still subject to the issuers rules and the network agreement (rules including things like chargebacks). I just don't see reversible payments ever being used for irreversible goods except maybe for token amounts.
Im sure if GOX can get cards that is linked directly to user balances they could setup an agreement of no chargebacks ie. they could put limitations on the card which mainly could be restricted to ATM withdrawal/swiping only and no online purchases.
Removing online purchases would make the risk on such a card service drop dramaticly.
I dont know the process for this but I am fairly confident that if they wanted to offer this it would definitely be doable. I dont see how this is any more risky than the dwolla chargebacks they allready incur from scammers.
Lastly, perhaps they could offer the card solution to regular medium to high volume users(verified of course), they have far less if not 0% risk associated to users who have consistently traded on MTGOX with a track record and medium to high volume BTC/USD available.
Gox, do you plan to offer an alternate withdrawal service in the near future?
We are working on this, and may have something in June (still waiting for contract to be signed, so can't make promises at this point).
Tux, when will you guys just make it easier for everyone and offer your own in-house solution for us to simply be able to access our funds via mtgox prepaid debitcard. If the rates are reasonable loading onto the card or swiping directly, you will cancel out a ton of these extra withdrawal methods.
Withdrawls to a prepaid debit card would certainly be possible but even if Gox co-branded a prepaid debit card they are still subject to the issuers rules and the network agreement (rules including things like chargebacks). I just don't see reversible payments ever being used for irreversible goods except maybe for token amounts.
Gox, do you plan to offer an alternate withdrawal service in the near future?
We are working on this, and may have something in June (still waiting for contract to be signed, so can't make promises at this point).
Tux, when will you guys just make it easier for everyone and offer your own in-house solution for us to simply be able to access our funds via mtgox prepaid debitcard. If the rates are reasonable loading onto the card or swiping directly, you will cancel out a ton of these extra withdrawal methods.
Does this affect deposits, withdrawals, or both?
Hello,
It would apply to both deposits and withdrawals.
"Trusted"? What is trusted status? Prefer something on Mt.Gox site.
Means Verified using Notary / Apostille for ID Verification.
Quote
“Trusted” Accounts are eligible for daily transaction limits of up to 100 times and monthly transaction limit of up to 50 times the default limits.
In order to apply for the “Trusted” account status please mail a notarized copy or translation of your government issued ID (E.g. Your passport or driver’s license) and a copy of your monthly utility bill to
In order to apply for the “Trusted” account status please mail a notarized copy or translation of your government issued ID (E.g. Your passport or driver’s license) and a copy of your monthly utility bill to
- http://support.mtgox.com/entries/20919111-aml-account-statuses
- http://support.mtgox.com/entries/20251501-aml-request-increase-transaction-limits
- http://support.mtgox.com/entries/20861901-changes-to-aml-policies
Does this affect deposits, withdrawals, or both?
Jump to: