Topic: Bitinstant cutting people short with double-fees (Read 1642 times)

I replied by mail, my email starts pashtet92

Are you saying you added a response to your support ticket that I should review?  Do you have a case # ?

I posted an offer into the issue, can it be considered?

Eh, monopoly lets you control everything so easily. Guess most people will pass on to other services with lower fees.

Maybe consider an alternate source for buying and selling your bitcoins instead of BiInstant. Here is a thread which discusses a service which is cheaper than Bitinstant (2% only).

Bitcoins can be purchased at any Bank of America or Wells Fargo.

https://bitcointalksearch.org/topic/buy-bitcoin-with-cash-deposits-at-most-banks-in-the-usa-with-bitcoin-brokers-237164

I've used BitInstant 2 times now - the first time went off without a hitch (once I got all the requisite steps out of the way)
Dwolla -> Bitinstant -> Mtgox, roughly 2% fee and then did my own buying of BTC on mtgox.  No issues, the USD showed up in mtgox within minutes

The second time, however... utter failure.
Using their new site, signed up for an account and did the sell bitcoins transaction.  Was going BTC -> ACH deposit.  Sent the BTC to the address they gave me, hours later with tons of confirms no email from Bitinstant, order status and event log don't acknowledge receipt of BTC; event log just shows 'new order' with a timestamp that keeps updating every time I check (the time stamp on the order details stays the same)
Confirmed the transaction through blockchain, but Bitinstant... just... nothing.  I know that ACH deposit takes a day or 2, but shouldn't the event log show that bitinstant received the BTC?  I copy/pasted the address from Bitinstant, and then still verified it 10 times before and after sending, the address I sent to matches what bitinstant gave me and still shows on the order details.

Logged a support incident, no response.  I know they may be swamped, but quite frankly that's an unacceptable situation and excuse.
If you are so swamped you can't respond in a timely manner, either business is booming and you should be hiring more resources to keep up with demand... or your service has serious deficiencies and you need to fix it.  If your service is so screwed up that it's causing big enough issues (or so many issues) that you can't get to them quickly, you should be halting new orders until you can get things under control and working *correctly* or at the very least posting something informing people of the situation so they can make an informed decision BEFORE they place the order and risk getting stuck with their money tied up in limbo.

Failing to do so has the effect of taking your problems and making them your customers' problems.  That is unacceptable for ANY business. 

The fees are not "bitcoin fees".  I think you are thinking of fees charged by private companies for services related to bitcoin. Competition is the solution to this problem, and market forces will ensure that it happens.

Your issue is indeed logged and in our support queue.  Unfortunately it isn't something I can fix right away.  However, your issue will be worked on soon, once we get to it in the support queue.  Thanks for your patience.

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Without any order info I can't attempt to help.

Huh, your support has been ignoring me for several days already. I have my $300 stuck at bitinstant since June 21.
Great service!

You can always try our service. 7.5% (as low as 5.5%) over Mt.Gox and you get your bitcoins in 5-30 minutes. The fee you pay goes down as you purchase more. The other benefit is you don't have to leave your house.

There's a simple solution to this...

Log your issue at support.bitinstant.com so we are aware of your issue and we can correct it.

Well.. Unfortunately there is not other "good" and instant BTC-to-PayPal Service...

That's the whole point with bitcoins.
And you still don't get it, you dumb.


Price will always be more expensive when it comes to bitcoins.
VISA / MasterCard / paypal can charge you to buy things on internet.


But they will never charge you more than bitcoin

Use another service.  Their fees are outrageous, always have been.  Also you should choose to send USD to MtGox, not Bitcoin to an address or MtGox, they will take a higher fee.

Why am I not supprised.

http://www.reddit.com/r/Bitcoin/comments/1gev77/bitinstant_math_480_100btc_461_btc/



Bitinstant taking a 8% fee instead of the promised 3.99%