Topic: Intersango withdrawal backlog (Read 1168 times)

I'm agree with urwhatuknow, my story is different, but I'm sure that Intersango will close one day or another (they are already going down).

They transferred the money last week, so my trust has partially been restored.

Sorry to give you bad news, but IMHO Intersango can't be trusted.
The first bitcoin trading account I opened in my life was with them, back in April this year and things seemed to go smoothly at the beginning.
But then problems started with their GBP account being frozen in the UK.
A logical solution would have been to open a GBP bank account in their Polish bank, but this seemed to be unfeasible, even after I suggested it to them.
Patrick Stratemann (one of the founders of Intersango and probably the only one left onboard) answered to my ticket saying that the GBP account couldn't be opened on the phone (as if going to Poland to put a signature was a trip to Mars!!) and that there was no possibility to solve the situation other than waiting.
No ETA was provided.
This caused two mayor effects:
1) A great increase in Bitcoin quotes expressed in GBP compared to the ones in Euros (averaging about 10-15% spread to what it should logically be, given the EUR/GBP exchange rate)
2) A collapse of the transaction volume in GBP

For instance I got stuck myself with some GBP's on my Intersango account and waited for a few days (couple of weeks or so) for the problem to be solved
I then decided to take my loss and exchange my GBP into BTC at an artificially inflated rate and move the hell out of there.
Since then problems, started also for Euros transactions ( the ones in dollars were already supended previuosly with the excuse that the volume was too little) and the volume handled by Intersango has been sinking to very low levels (a few dozens BTC's a day in GBP and a few hundreds in Euros).
(See www.bitcoincharts for reference).

To make a long story short I believe this exchange business will soon be closed and I strongly suggest anybody that still has bitcoins there
to move them away at speedlight and to the ones that have GBP's or Euros to buy bitcoins and move them out.
Any other strategy (such as waiting or trying to withdraw funds) will end up in my opinion with a total loss.
I believe Intersango will be remembered in the future as a good example of  software developers with a good business idea, but with very very very scarce business acumen and especially marketing understanding (Patrick replies to case opened should be collected in a book and sold as a perfect example of how NOT to treat your customers).

 

Well I think I'm at or past 20 days too. I understand my options, but am trying to make the best choice. Buying bitcoins again is only in their benefit.
I hope to hear from people that Intersango can be trusted. Have people who have waited a long time actually received their money eventually?

All my friends are having the same issue, most of them just bought back coins and sell it somewhere else.

There are some withdraw orders from almost 20 days nothing received yet.

You either wait or buy back.

Dear forum users,

a few weeks ago I requested a withdrawal from my intersango account. A week later it wasn't accepted, so I opened a ticket. Their response:

and after asking for an ETA which they didn't meet and insisting they give some explanation on that:


Are more people experiencing this? Are they really in a backlog or are they fooling me?
Any experiences with Intersango in general? Trustworthy?

Thanks.