Topic: Mt. Gox cash withdrawal delay (Read 2632 times)

Coinbase doesn't take 10% of the market price, they are the true price of Bitcoin (look at Bitstamp, Bips, Bitpay, and Blockchain also).  Mt.Gox's price is 10% higher because you can't withdraw your USD.

BitInstant hasn't been working for a month, and they are facing a class action lawsuit.  

One other problem with coinbase is that they limit withdrawals and deposits.

I started using coinbase but they take about 10% of the market price.   If the Mt. Gox price is $110 Coinbase pays $95.   They used to trade at the Mt. Gox market price.    Any suggestions for a better exchange?  I have heard some mention of BitInstant on the forum.

a couple weeks ago I opened accounts with 3 or 4 Polish banks in one day....The fatc they only have one account is BS.

i'm trying to receive domestic japanese payments via Fidelity and Charles Schwab's forex services, but the problem is they mainly accept SWIFT not domestic transfer and they require additional information (i.e. For Credit to Fidelity acct #) in the memo field of the wire, which gox just doesn't seem to want to do.

How about SWIFT to japan is that also limited to 10 a day? Or maybe they can do japanese swift easier...

I'll add an account right now nad try it out.

Their polish bank has a daily limit, and this has been a problem for SEPA and PLN withdrawals for years.  They are working on getting EUR accounts in other banks in the SEPArea, which will solve the issue.  (Assuming the PLN withdrawal volume isn't too high.)

Domestic JPY withdrawals works fine, and arrive next day.  No known delays.  JPY to Poland and GBP to Isle of Man will be SWIFT transfers, which we know is very limited in capacity right now.  If I were you, I would start a wire-through service via my Japanese JPY account.  Buy BTC from people via SWIFT transfer from your account, exchange the BTC for JPY at MtGox and transfer back to your account.  You can take at least 5% profit on every transfer.  One day turnaround if you can convince people to send BTC first.  Or transfer money to other exchanges and buy directly, but this will take longer time due to the time a SWIFT transfer take.  Three times 5% is better than one time 10% in the same time frame.

Sorry but this has nothing to do with the US.

I can't receive local polish transfers from gox's polish bank.

I can't receive JPY to my polish JPY denominated account.

I can't receive GBP to my Isle of Man account.

SEPA transfers take ages for now reason (by default SEPA has no daily limit).

It's just inexcuseable.

(yes i know i can't spel)

TL;DR: US fucking over gox. While I believe MtGox has enough money to pay everyone out, they're having banking problems - not because of them swamping the bank in volume, but because banks don't want to deal with them.

We dont call it mt box for nothin =P

Serveral month at the moment. Maybe it will never arrive.

That the Mt. Gox support does not respond is bare FUD and defeatism. The GOXs support only answers to the same questions with canned responds like every company does.

Payouts are very slow in USD or even not possible currently. Dwolla, Liberty Reserve and OKPAY thanks to FinCEN are no longer available.

Withdrawal are currently only possible via SEPA or Japanese national transfer. International transfers have become very risky.
 
If it works (eg. Bitstamp) is pure luck. The US GOV will fight each BTC / USD exchange of which they are aware and which is not in accordance with their weird regulatory requirements. Bitstamp is probably (still) too small to be noticed. But I assume that also via Bitstamp only SEPA payments will be possible soon.

So in the long run you might get an account in Europe or Japan. The best country IMHO is currently Germany. Crypto Currencies are 100% legal with certainty. No government can just change that. The sale of Bitcoins is after one year holding period even tax-free in Germany. This is also guaranteed by law. Bitcoins are treated like gold. There is already legal certainty for Bitcoiners.

With bitcoin.de there is also a marketplace where you can easily sell and buy bitcoins. It is a marketplace, no exchange! Therefore, there are many scammers. Unfortunately. But Bitcoin.de working hard to improve the situation.

So, at the moment you can do international transfers via Bitstamp. If you really want to cash out I would recommend. I have not even tried because I do not trust Bitstamp. But many people do.

You're kidding right?

They process only 10 SWIFT transfers a day.

And unlike most large companies that need to send out hundreds of wires, they do all the processing in house (i.e. send hundreds of wires a day from their bank account).

They would be much wiser to use something like AMEX's FX service, which lets you send 1 wire to AMEX, then AMEX sends out various SEPA/ACH/SWIFT payments to the hundreds of customers.

This is all BS.

I cannot agree.  This week I went through the process of verifying and was incorrectly rejected twice, then I was verified.  Next I got a withdraw method set up for international wire.  This also was not without need to contact support.

Through these processes I probably had to contact support 5 or 6 times and each time they got back to me and addressed my problem specifically.  And eventually successfully.

I have some complaints about their UI and documentation which may have reduced the need to communicate with them if it were better implemented, and also wish that seeing the string 'p.o. box' did not create a Pavlovian reject response (since I and others in my area use a P.O Box for completely legitimate reasons) but I CANNOT fault Mt. Gox's AML or banking support for not being prompt and effective.

In theory I have an International wire to the US in process.  I'll be interested to know how long it takes after all the pissing an moaning on this board.  Certainly I'll be reporting back.

Mt Box: you can check out any time you like, but you can never leave

Depends on the amount. Everyting about € 999 can take a long time.

That's great, I cancelled much older requests yesterday. So much for "processing the queue in order"

As have SEPA withdrawals. If it wasnt for BitStamp everyone I know would have concluded Bitcoin in general is a scam based on the actions of MTGOX (9weeks of being told Id have funds in 2wks).

If what you say is true, he's just spreading lies, not FUD.

Just another GOX-SEPA withdrawal received today in my savings account (€ 999 minus 1%). It was startet on the 24. of July. So it has lasted nearly a month, but much more better than 10% on Bitstamp.

Some people received money from mt.gox, but not many...

MtGox support is as useless as usual, they are only capable of giving canned replies, don't expect too much from those suckers!

https://bitcointalksearch.org/topic/mtgox-has-not-paid-us-since-26th-of-june-268313
https://bitcointalksearch.org/topic/mtgox-withdrawal-delays-gathering-179586
https://bitcointalksearch.org/topic/mt-gox-starting-to-die-272120
https://bitcointalksearch.org/topic/mtgoxbitstamp-spread-breaches-previous-record-1369-on-august-15th-274373

Just a few of the threads this topic.