pretty much.
i get all my $$ from mtgox to the bank account in 1.5 weeks.
Topic: Dwolla now purposely delays USD withdrawals from Bitcoin exchanges (Read 7305 times)
May 23, 2012, 04:59:56 AM
I just looked... I withdrew a couple hundred from Dwolla on 5/9 and it was posted to my bank balance on 5/10. Another on 4/24 arrived on 4/25.
Not sure how it'll work now, w/ their new ToS.
My only problem has been it taking up to 10 days to transfer from MtGox to Dwolla.
Not sure how it'll work now, w/ their new ToS.
My only problem has been it taking up to 10 days to transfer from MtGox to Dwolla.
It is now taking around 6 business days for Dwolla withdrawals to be processed provided that the amount is below 10,000 USD. If you have any questions about your transaction, please contact Mt.Gox Support at [email protected] or submit a ticket at https://support.mtgox.com/home and we will help you look into this.
not true amounts as low as $200 are taking 6 business days or more now! ?
May 18, 2012, 09:27:23 AM
The "buys" at InterSango and CBX continue to shrink. Could Dwolla be to blame?
May 18, 2012, 02:52:17 AM
I just looked... I withdrew a couple hundred from Dwolla on 5/9 and it was posted to my bank balance on 5/10. Another on 4/24 arrived on 4/25.
Not sure how it'll work now, w/ their new ToS.
My only problem has been it taking up to 10 days to transfer from MtGox to Dwolla.
Not sure how it'll work now, w/ their new ToS.
My only problem has been it taking up to 10 days to transfer from MtGox to Dwolla.
It is now taking around 6 business days for Dwolla withdrawals to be processed provided that the amount is below 10,000 USD. If you have any questions about your transaction, please contact Mt.Gox Support at [email protected] or submit a ticket at https://support.mtgox.com/home and we will help you look into this.
May 16, 2012, 09:45:31 PM
I just looked... I withdrew a couple hundred from Dwolla on 5/9 and it was posted to my bank balance on 5/10. Another on 4/24 arrived on 4/25.
Not sure how it'll work now, w/ their new ToS.
My only problem has been it taking up to 10 days to transfer from MtGox to Dwolla.
Not sure how it'll work now, w/ their new ToS.
My only problem has been it taking up to 10 days to transfer from MtGox to Dwolla.
May 15, 2012, 07:33:53 PM
I sent money from MT.GOX to Dwolla on the 8th and received it at Dwolla on the 14th. The withdraw for Dwolla to my bank was less than 24 hours. Here is the email for MT.GOX explaining the delay.
Mt.Gox Support, May 10 10:30 (JST):
Hello xxxx,
Unfortunately, due to huge volumes of Dwolla withdrawals, we are unable to complete your withdrawal at the moment and it would take up to 6 business days for the transfer to be processed. However, if you would like to have your funds returned to your Mt.Gox account, please let us know and we will cancel it. Please let us know how you wish to proceed. Our apologies for the delay and inconvenience caused.
Thanks,
MtGox.com Team
Mt.Gox Support, May 10 10:30 (JST):
Hello xxxx,
Unfortunately, due to huge volumes of Dwolla withdrawals, we are unable to complete your withdrawal at the moment and it would take up to 6 business days for the transfer to be processed. However, if you would like to have your funds returned to your Mt.Gox account, please let us know and we will cancel it. Please let us know how you wish to proceed. Our apologies for the delay and inconvenience caused.
Thanks,
MtGox.com Team
May 03, 2012, 04:29:49 AM
What would normally take exchanger to dwolla 2 hours to confirm is now 3-4 days.....
Dwolla account-to-account transactions are instantaneous. There is no "confirm". Are you possibly indicating instead a delay where the exchange (such as Mt. Gox) is hitting systematic limits with Dwolla and therefore is not able to send the money for 3-4 days?
this could be it right here, but still there is no excuse for how long their bank transfer are taking also!
May 03, 2012, 03:14:42 AM
What would normally take exchanger to dwolla 2 hours to confirm is now 3-4 days.....
Dwolla account-to-account transactions are instantaneous. There is no "confirm". Are you possibly indicating instead a delay where the exchange (such as Mt. Gox) is hitting systematic limits with Dwolla and therefore is not able to send the money for 3-4 days?
May 03, 2012, 02:34:00 AM
yup having major issue with this as well. What would normally take exchanger to dwolla 2 hours to confirm is now 3-4 days.....
April 27, 2012, 11:05:45 PM
BitFloor has now added PopMoney as a method for deposits. Are there any other bitcoin exchanges that use PopMoney? I have a feeling PopMoney could turn out to be another Chase QuickPay, see
https://bitcointalksearch.org/topic/chase-quickpay-not-recommended-11494
https://bitcointalksearch.org/topic/chase-quickpay-not-recommended-11494
Ya, I remember a trader on #bitcoin-otc getting burned pretty bad from Popmoney transfers gone bad.
I don't know of any other exchanges that accept it.
April 27, 2012, 02:05:23 PM
I see that BitFloor has officially dropped Dwolla as a method of deposits and withdrawals. BitFloor has now added PopMoney as a method for deposits. Are there any other bitcoin exchanges that use PopMoney? I have a feeling PopMoney could turn out to be another Chase QuickPay, see
https://bitcointalksearch.org/topic/chase-quickpay-not-recommended-11494
https://bitcointalksearch.org/topic/chase-quickpay-not-recommended-11494
April 26, 2012, 11:52:59 AM
I'm so glad I already wrote those fuckers off.
Any time an organization tells you they can change their terms of service without notifying their customers - RUN!
Any time an organization tells you they can change their terms of service without notifying their customers - RUN!
April 26, 2012, 01:47:11 AM
Ok, hopefully this was just a one-off problem rather than a new normal.
After going back and forth a few times first with the exchanges and then with Dwolla customer support, they finally got back to me today without any explanation and said "the problem has been resolved" and it has.
After going back and forth a few times first with the exchanges and then with Dwolla customer support, they finally got back to me today without any explanation and said "the problem has been resolved" and it has.
April 25, 2012, 10:25:28 PM
Yeah and it has nothing to do with tax day. Libertarians don't pay taxes. Its b/c of the 420 sale on SR. All the vendors are cashing out!
April 25, 2012, 10:20:35 PM
They are a fly by night startup anyway.
Dwolla raised $5 million in round B funding from Union Square. Fred Wilson, of Union Square has a pretty remarkable track record as far as making very smart early investments (i.e., Etsy, foursquare, Kickstarter, Zynga, Tumblr, Turntable.fm, Twilio and Twitter ... and now Dwolla).
- http://www.siliconprairienews.com/2012/02/dwolla-s-series-b-three-things-it-means-for-dwolla-part-1
Hey, looks like Jon Corzine got away with it, why not Dwolla?
Every dime of funds at Dwolla are stored in FDIC or NCUA insured accounts. Customers funds at MF Global did not (and were not) under that same protection. (Not justifying Corzine's actions, just saying Dwolla != MF Global)
I hope this is not prophetic but changing shit like this w/o notice is very ominous sign.
You said it yourself. They cannot survive by charging only $0.25 per transaction and deal with mountains of fraud -- even if they pass on the losses when fraud does occur. Survival requires making changes. Creating this "30-day probation on new accounts" is simply a policy decision they have the full right to do. They didn't say you can't withdraw the money in your Dwolla account and they did't put a hold on it -- they simply said it can't go to bitcoin exchanges just yet, if you've only just recently linked your bank account.
Prediction: Dwolla folds up within a few weeks, accounts will go missing. WATCH OUT!
Create a bet on Bets of Bitcoin with that statement and I'll take the other side.
- http://www.BetsOfBitco.in
is likely that Mt. Gox didn't keep enough in their Dwolla account and then couldn't serve all the withdrawal requests it had pending. It's something that has been happening every weekend, several times in a row now.
MT Gox is too good and well capitalized for this to be a problem on their end.
April 17, 2012:
We regret to inform our users that there is a small delay in Dwolla withdrawals due to the large volume of pending transfers at the moment.
April 24, 2012:
Update: Transfers continued to be processed at a reduced speed because of the extremely large backlog.
We are exploring options with Dwolla to ensure that we have sufficient transfer capacity so that this does not occur again in the future.
- https://mtgox.zendesk.com/entries/21290798-dwolla-delays
April 25, 2012, 09:51:33 PM
In fact now that i think about this, i am thinking that dwolla may owe mt gox some money so they are holding back flows to Dwolla or at least keeping very tight balances on hand at Dwolla expecting a failure.
I work in finance, i smell these things. Dwolla will go down, if you're pending a deposit to Dwolla, try to go back to Gox and reverse it right quick.
I work in finance, i smell these things. Dwolla will go down, if you're pending a deposit to Dwolla, try to go back to Gox and reverse it right quick.
April 25, 2012, 09:44:30 PM
Confirmed same symptom - Saturday withdraw to Dwolla still hasn't shown up. Note, there is nothing in "pending".
If instead the problem is a Dwolla withdrawal at Mt. Gox never shows up in Dwolla, the problem then is likely that Mt. Gox didn't keep enough in their Dwolla account and then couldn't serve all the withdrawal requests it had pending. It's something that has been happening every weekend, several times in a row now. If that's a problem, then considering switching exchanges as there are other exchanges that don't have that problem.
MT Gox is too good and well capitalized for this to be a problem on their end. If so, send an email to them, they are pretty responsive. Again, i think this is Dwolla commingling. Next thing will be bounced checks for the employees. WATCH OUT!
April 25, 2012, 09:42:29 PM
This is a very bad sign. I wouldnt trust Dwolla any more. They are a fly by night startup anyway. Supposedly Ashton Kutcher is a major investor (read that on another certain board accessible via TOR). Don't know if its true, but i think the business model is in trouble with .25/transfere fees. its too good to be true. I bet they've been gettin hit hard by fraud or worse they are burning cash and holding back withdrawals because they are comingling funds to keep the enterprise afloat. Hey, looks like Jon Corzine got away with it, why not Dwolla?
I hope this is not prophetic but changing shit like this w/o notice is very ominous sign.
Prediction: Dwolla folds up within a few weeks, accounts will go missing. WATCH OUT!
I hope this is not prophetic but changing shit like this w/o notice is very ominous sign.
Prediction: Dwolla folds up within a few weeks, accounts will go missing. WATCH OUT!
April 25, 2012, 08:13:10 PM
I received my withdrawal from MtGox to my Dwolla account within 24 hours of initiating the transfer. I sent it on to my bank account the moment I saw it had arrived.
Note that I've never given any identification to Dwolla or MtGox, and I've always (with one early-on exception) done withdrawals of less than $1000.
Note that I've never given any identification to Dwolla or MtGox, and I've always (with one early-on exception) done withdrawals of less than $1000.
April 25, 2012, 06:06:43 PM
I received withdrawals from 3 different Bitcoin exchanges recently, and all are still pending, the oldest more than a week old now.
So far you are the only person to confirm this ( account to account transfer from a Bitcoin exchange arriving as "pending" ).
It the status still "pending" or has the status changed on any?
I'd love to try it out, but Dwolla suspended my account and is ignoring my emails. I don't need them, and I don't want to use them anymore, so I'm not going to waste any time on the phone.
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