Topic: Any one heard about www.igot.com - page 2. (Read 20993 times)

thanks for the feed back ,  because this industry is new I guess the requirements for account verification is a bit hit and miss

to be completely honest account verification was total waste of time for me . Multiple email with attachment but at least their covering all the requirements

after verification i found that large withdraws = 2 btc  took way to long, but I'm guessing that because IGOT manually process the payment from cold storage . ( create panic that you have been rob - if you haven't got them in 12 hours )

Cash withdraws are fast i haven't had a problem.

 

Firstly, I’d like to thank the starter of this thread. They pose a good question – and after dealing with IGOT, I believe I can offer those searching an answer to this question some valuable information.

In this post I include an excerpt of an email I wrote to IGOT in the hope that it may prevent someone else having to go through this shit. And yes, predictably there will be those who respond to this by playing down IGOT's methods as being a “normal part of diligence” and “in the best interests of their customers” - I tell you now, many of these posters will be purposely misleading you as they are affiliated with IGOT.

YOU HAVE BEEN WARNED !

This email was sent to IGOT and a number of Australian consumer protection authorities. Please read.

“IGOT
What you are doing to me is absolutely unfair. On 6th November 2014, I deposited $AUD400 into your account in order to buy Bitcoin. Over 2 weeks later and after satisfying all your requirements of me to withdraw my funds, you still have not paid back to me what is mine and I am now resigned to the fact that you do not and never did have any intention in honouring this financial transaction.

The business practises IGOT have used from the outset have been dishonest and fraudulent, and I hope that my informing the relevant authorities will at least lead to an investigation into IGOT. I also hope that the Financial Ombudsman will be able to help me recover my funds.

At every turn IGOT has acted to frustrate me in my requests to have my funds paid out. Initially, when IGOT rejected my account verification and subsequent to me paying $400, IGOT refused to refund. In an attempt to position myself to withdraw these funds as Bitcoin, I did what was asked and belatedly, as I was lead to believe, was granted full verification (level 2) to withdraw Bitcoin.

With this fully verified level, I thought I was now able to withdraw my funds, and for a time it seemed that this may be the case After a few days waiting for my funds to appear, however, I then received a notification from IGOT that I would need to verify the BPAY payment I made 2 weeks prior.

In this email, IGOT gave me 2 options as quoted:

"Option 1:
1. You will need to ask your bank to verify your recent BPAY payment to us. They will need to give a letter stating the amount, date, and other details of this BPAY.
2. Get your Government issued Photo ID and Bank Statement (from where you sent us BPAY) attested by your Bank or Justice of Peace as 'True Copy'....

Option 2:
Schedule a video call with us.
We will require you to verify the following during the call:
1.   Your photo id
2.   BPAY payment receipt
3.   Front and Back of your Debit or Credit card where the BPAY was sent from."

This additional verification request is now on top of the "highest" verification I have already attained and is completely unacceptable, and I believe designed to further commit me to this fraud for the following reasons.

Westpac Bank, my financial institution, uses strong security measures when transacting business for its customers in order to limit fraud. Every transaction I make over the internet is verified before submission via a security code sent to my mobile phone. IGOT are using the guise of being 'fraud aware' as a stalling tactic to continue to withhold my funds. In actual fact, IGOT is the entity committing the fraud. There is no need for me to take this action, and I will not be further imposed upon by IGOT.

Option 2, the video call is another tactic, I believe, IGOT is using to commit further fraud against me. IGOT's request to have me show my credit card is criminal. The front (credit card number) and back (3 digit verification code) of my credit card where the BPAY was sent from is misleading and I believe is another tactic to gain information to further debit my account. My BPAY payment was not made from a credit card and I will not hand over this information to this company. I am speculating here, however, the fact remains that these business practises are dubious.

In the emails below, IGOT offers to close my account and give me a refund. This will not happen, my dealings with IGOT up to this point suggest that they will ignore this refund request. I have the appropriate verification level as specified by IGOT and I am continuing to demand the withdrawal of my Bitcoin.

At the very least, IGOT's business practises are unfair and I do not believe anyone should have to stand for this treatment in Australia. It goes against every fair minded value held dearly by most Australians, and I hope that the reporting of my IGOT experience will at least spare another from this anguishing ordeal.”

I got my money finally, so they are not a scam, but over 2 weeks for a fiat withdrawal is beyond a joke, especially when they claim to have banking facilities in the same country as me (they sent it from another country)

Pretty freakin ridiculous tbh

Back to bitstamp it is

My first experience with igot was horrible & slow took about 10 days to withdraw my coins, i did purchase a further 2 btc a few weeks back  paying cash OTC & this is a better experience.  Had the coins in my wallet about 4 hours later, but I did contact their support during the process to make sure it was going to run smothly.

So slow it feels like I've been scammed. I had high hopes, the website seems slick, but they seem to have one idiot doing withdrawals and he spends weeks at a time doing nothing. "AML" apparently, which consists of what?

What is their "AML" procedure which makes a withdrawal take 2 weeks? Why does bitstamp do it within 24 hours? It just reeks of incompetence, and in this environment incompetence usually ends with people losing money. So as soon as I receive my fiat I'm fuckin out of there, never using them again.

So slow.

I see you are a full member was thinking if you can help me with something.
I would like to start mining if there any good website or something i could start with?

That is because i dont use this forum much.
Plus this forum does not allow me to post things.
It gives error saying too early or something

4 out of your 5 posts are about igot, you're a shill.

Haha are you kidding me?
Looks like u are a shill.
I have no reason to lie over here mate!
I was sharing my experience with u all.

bullshit, you're a shill.

every transaction i've had with them from 0.1btc deposit and upwards has been slow as fuck

I use igot.com everyday, I dont get any problems like this.
Dont know why you guys facing this issue.
I buy/sell them approx 5 btc everyday they seems to be okay and fast to me.

Only if your payment is via BPAY they hold it for 7 days which they mentioned on their website isnt it?

Yeah i agree igot.com is a shitty service.

been waiting over 2 weeks for a withdrawal.

Feel like I got goxxed

i gave up using this service. too slow. cumbersome, unpredicable.

there are better services in Australia, much better.

QG

Bit Trade are offering a 1-2 day turnaround on transfers to a bank account at the moment.

Cashed out some BTC monday morning and had the funds in my account by Wednesday afternoon. Great service.

Just don't even risk it with this shitty site. Seriously, not worth the effort. Stick to localbitcoins or even the bitswamp before you try and trust this site with your money or bitcoins.

Their support sucks, they don't answer any questions (worse support than stamp, by far)
They take like 1 week + for a fiat withdrawal
They take hours and hours for even a bitcoin deposit


Absolute joke. Waste of time. Tried it, not using this site again that's for sure.

tl;dr: OMFG it took me almost a month to get my BTC out of iGot. But it seems to get faster once you have established some trades over time (a long time).

So i tried out iGot (Australia) the other day. They worked and is legit, but are hella slow in releasing your coins to you. I think they are intentionally slowing the process to make sure you are not a fraudulent customer (nice way to treat your customers, assume they are scammers until proven other wise..).

After getting Level 2 status which takes 7 days from your first BPay deposit, you need to further verify your ID documents and bank statements to iGot staff to be able to withdraw any significant amount of BTC. This process took me a further 14 days to complete (snail mailed docs) and even after that, when I was able to withdraw all my BTC, there was EVEN MORE DELAYS to authorise the release of my coins. This took another 36hours before they processed my coins onto the blockchain.

Cash deposits at a branch does not instantly appear in your iGot account. Takes about a day which I thought was ridicules. I also notice they recently took WestPac deposit off their site. Only has CBA option now. (BPay still available)

With all that said, my last BPay transaction did appear in my account faster and had the coins release to me within 12 hours. I hope it gets faster now since i've traded with iGot for over a month now. Will update, if they ever become decently fast.

on another note, iGot is not an exchange as I see it. They just have a spot price and you pay that price (+fee). There's no nominating what price you want to pay. There's no order book to see buy and sell orders. It's like coinjar, but no GST, and mutha fukin slow.

Peace,
QG

Could you clarify  how long do you spend under "Pending" status before sending to your bank? I don't think once your bank send via SWIFT, it talks -2 days even for international transfer.

It takes too much (more than 2 weeks) to process in your operation (What are you verifying ). No other exchanges except former Mt.GOX / btc-24 take so long as igot....

to get to level two, all previous steps need to be done, you can just go and do the 100pt id check and be level 2, have to do bank account link as well.

withdrawal time suck, been waiting on 5.xx coin to withdraw for over three hours now, no response to ticket, withdraws should be instant,

Thanks for your comments.

1. Daily withdrawal limits and way to lift them is clearly listed on the site. Its very easy to lift those restrictions and withdraw as many as 500 BTC a day.

Getting to Level 2 is pretty straight forward and easy.
We are simply not interested in running yet another 'anonymous Bitcoin exchange'.
Bitcoin may have started like that, but we think that is not the right way going forward. If you see the evolving economy of Bitcoin, you will notice 99% of the exchanges do require to meet KYC and AML policies laid out by the Government around the world.

We certainly do not want to be in middle of some big (or small) money laundering operations that fund illegal trades such as drug trafficking, and  terrorism to name few.

-----

2. Withdrawal times:

We know that some people are upset about withdrawal times and we would like to clarify:

Bitcoin withdrawals are processed within hours in most cases.
If you've sent us a BPAY, the withdraw time will be more because we need to be sure you sent the BPAY from your own account and a scammer did not just hacked into someone's bank account to send it.

How can you make sure this is faster?
Simply deposit cash instead of Bank transfer or BPAY transfer.
That makes withdrawals almost instantaneous. Our risk there is minimum to none and the speed is definitely faster as we do not need to further verify you.

Cash withdrawals:
As your history with us grows, we tend to send out withdrawals faster.
We do need to have some history with your account to expedite the process.

Some international wires can and do take time, so please keep that timeline in mind.
Some local banks take 1 to 3 business days to transfer funds too. This is not in our hand at all.

If you are a bigger trader, by all means reach out to us for a transaction fee discount. We would love to work with you.

Rest assured, igot is not here to scam you or anyone else. That's not why we started this platform.

We are known for our extra precautions (sometimes criticized)  and many users get frustrated, which we understand and listen to.

But due to number of BPAY frauds in Australia, we have to be very careful with every account. We've blocked thousands of dollars worth of fraud by enforcing strict KYC.

What these scammers really do is use BPAY to fund igot, then withdraw Bitcoin.
Once the Bitcoin is sent, they’re gone. There’s nothing anyone can do about it.

As an exchange, it is our job to make sure this doesn’t happen.
When this happens, the following happens:

The scammer has gotten away with free Bitcoin
The victim (who’s bank account or card was used) is out of money
igot then needs to make sure the money is given back to the victim, affecting our bottom line
Banks see this as high risk business and shuts down Bitcoin related bank accounts

We see a lot of classic frauds every day and you, as our user have to understand that we need to be extra careful.

We’ve seen so many cases where:

Scammer scammed someone’s bank account and took of with Bitcoin
Some unsuspected old people have had their life savings or major portion of it taken away
Some kids use their parent’s bank account to buy Bitcoin without understanding the risks (and they’re under 18 years of age)
Some people have had their identity and cards stolen from their mailbox while they were away

As we grow, we are constantly reviewing our policies to make sure we're able to eliminate fraud and lift limits on most accounts instantly.

As part of our voluntary obligation, we meet the AML and KYC policies laid by the government. This is good for Bitcoin ecosystem in general and since Bitcoin is not yet regulated, we think self regulated exchanges like ourselves are doing the right thing (legally speaking).



We look forward to your feedback. Please feel free to email us on [email protected].
We will be happy to help.


Regards,
Rick Day
Founder
igot.com