this is kind of big news, I thought Mt gox had resolved all their transactions issues.
Do keep us updated.
Topic: Could not withdraw fiat from MtGox - had to move to Bitstamp. (Read 645 times)
This is a common MtGox experience. I believe it's also why the BTC/USD rate is inflated there relative to other exchanges: people resorting to buying back BTC after they failed to withdraw USD!
For the record though, some people do manage to withdraw their USD, including (eventually) me. I gather there are some banks they have more trouble withdrawing to than others, including Citibank - unfortunately one of the most common intermediaries in transfers from Japan. Not very reassuring. I too wish the best of luck to Bitstamp, had only good experience with them so far.
Jacob
For the record though, some people do manage to withdraw their USD, including (eventually) me. I gather there are some banks they have more trouble withdrawing to than others, including Citibank - unfortunately one of the most common intermediaries in transfers from Japan. Not very reassuring. I too wish the best of luck to Bitstamp, had only good experience with them so far.
Jacob
Kudos for dropping mtgox.
Hey all,
Just wanted to share my experiences with MtGox.
I bought BTC on MtGox in March 2013, held and finally sold in mid June (at a slight loss).
I initiated 3 withdrawals for a total of $26,000 USD between June 15-19, and none of them went through.
I waited for 7 weeks, sending their support staff an email a week, trying to get an update on the status of my transactions.
Every time they simply closed my support ticket without an explanation!
Finally, by the end of July, after reading a bunch of threads on this forum I cancelled my withdrawals at MtGox and immediately
purchased BTC again. I then moved all BTC to Bitstamp, got my identity and address verified within 24 hours, then sold all BTC
and withdrew all the money... It's now been 3 business days since I received a confirmation email from Bitstamp, saying my
transaction has been processed.
I'll update this post as soon as I receive the money. Fingers crossed.
Needless to say, I'll NEVER use MtGox again. More people ought to drop them like a hot potato imho.
Cheers.
UPDATE:
Received the money from Bitstamp this morning. My withdrawal was confirmed by them on August 1st,
transferring the money into my bank account in Thailand. It took 4 whole business days as stated in their FAQ.
All is well.
Just wanted to share my experiences with MtGox.
I bought BTC on MtGox in March 2013, held and finally sold in mid June (at a slight loss).
I initiated 3 withdrawals for a total of $26,000 USD between June 15-19, and none of them went through.
I waited for 7 weeks, sending their support staff an email a week, trying to get an update on the status of my transactions.
Every time they simply closed my support ticket without an explanation!
Finally, by the end of July, after reading a bunch of threads on this forum I cancelled my withdrawals at MtGox and immediately
purchased BTC again. I then moved all BTC to Bitstamp, got my identity and address verified within 24 hours, then sold all BTC
and withdrew all the money... It's now been 3 business days since I received a confirmation email from Bitstamp, saying my
transaction has been processed.
I'll update this post as soon as I receive the money. Fingers crossed.
Needless to say, I'll NEVER use MtGox again. More people ought to drop them like a hot potato imho.
Cheers.
UPDATE:
Received the money from Bitstamp this morning. My withdrawal was confirmed by them on August 1st,
transferring the money into my bank account in Thailand. It took 4 whole business days as stated in their FAQ.
All is well.
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