@mbtctrade, @ARTHurt, their website does mention it takes 20 banking days for a SEPA withdrawal. Though that's ridiculously long, I'm curious to understand if it's just a matter of patiently waiting for it, or if these transfers sometimes really don't come through and requires a lot of back and forth to get it rectified?
Did anyone here ever got in a situation where the money was not recovered? I.e. let's say after 2 months you still didn't get a resolution?
20 days is a statement to have themselves "covered".
Of course SEPA can't take that much.
Even swift is faster, it goes through in abour 3-5 days
Obviously, when 20 days have passed it deffinitely is an issue and cex assumes to start investigation process.
As far as I know cex is paying, regardless the possible issues and huge delays.
Also, most of the times, the transfers go smooth, no issues at all, I don't even know why sometimes they run into such issues.
The problems are on the payment partner's side or the banks they use.
So it's not cex directly dealing with the payer's bank and even in case of problems I suppose it's more difficult to investigate because they need to escalate to the payment partner which is then dealing with the bank.
I know for sure this happened before, I've seen older topics for similar issues and I'd really want to know how long it takes to have a resolution and money received but it seems people keep going with their lives after receiving the transfers because no feedback afterwards.
At least nobody complain that cex never paid them after problems were signaled, nor saying problems were settled after specific time.
For me atm, 17th working day so far and no money from SEPA
FYI, I have just received the money today. Exactly 20 banking days since I requested for the withdrawal.
I agreed with @ARTHurt regarding the 20 banking days statement. CEX.IO use that statement to cover themselves just in case. I contacted my bank and they stated that usually it takes 2 - 7 banking days for SWIFT transfer. Below is the summary of how long it took for my three withdrawals with CEX.IO.
#1: 7 banking days
#2: 10 banking days
#3: 20 banking days
Judging from my experience the more times I withdraw from CEX.IO, the longer it takes for the money to arrive at my bank account. This does not take into account the fact that you may be asked to complete an extra AML/KYC form (like @moonoiz and someone else already mentioned in earlier posts) in which CEX.IO may use as a reason to delay your payment even further.
For experimental purpose, I tried to withdraw from another exchange during the same period and it took only 2 days.
Like @ARTHurt mentioned that this happened in the past, it is happening now and potentially happen again in the future. This does not taking into account the fact that you will have to deal with the support team that does not so responsive. I can't imagine what would happen if I don't post my case to social media. May be I still don't have the money by now.
For me, 20 banking days is too long. The faster the money arrive at my bank account, the more opportunities for me to make profit. Don't forget that cryptocurrencies exchanges open for 24/7 so, in fact, Sat and Sun also counts (not just banking days).
So think carefully when are using CEX.IO's services. If you don't mind having someone else keeping your money for up to 20 banking days (or may be even longer like 38 days like what @paraelement mentioned in his post here
https://bitcointalk.org/index.php?topic=318010.2380) then that's fine. If you choose to use their services, I hope you are not the lucky one.
