Topic: Mtgox Euro bank problems (Read 3251 times)
Received my funds yesterday - didn't expect that to happen on saturday.
I was informed that there was an AML (anti money laundering) issue taking place. I was asked to send scanned copies of my transfer to them?! They're definitely not communicating enough regarding this. It's been 8 days now since my transfer, and I still have no idea where my money is and when is it going to appear on my account.
If they have problems with the authorities, why not state that on their site? Why not warn people not to transfer money, if it will get frozen by the investigation? What are they thinking of achieving by this conduct?
If they have problems with the authorities, why not state that on their site? Why not warn people not to transfer money, if it will get frozen by the investigation? What are they thinking of achieving by this conduct?
Made a transfer on 29th of june. Still hasn't appeared on my account.
Same thing here. Even the same transfer date. And "surprisingly" they aren't answering support ticket messages. Would be nice to know what's causing the delay and some estimate about when the funds should be on my account. Hell, it would be even nice to know that they're still (actively) working on it. "We will check and update you on the status". Bullshit.How long other forum members have had to wait in a worst-case?
Made a transfer on 29th of june. Still hasn't appeared on my account.
Hello,
18 June 2012 I transfered 100 euros to my Mtgox EUR account.
Today I got a letter from my bank wich said that I recently made a transaction of 100 euros to a foreign Polish bank account which has been blocked. The made payment to the blocked account will be transferred back to my account in a short period of time.
Here is the proof: (in dutch though)
https://i.imgur.com/y4aoI.jpg
18 June 2012 I transfered 100 euros to my Mtgox EUR account.
Today I got a letter from my bank wich said that I recently made a transaction of 100 euros to a foreign Polish bank account which has been blocked. The made payment to the blocked account will be transferred back to my account in a short period of time.
Here is the proof: (in dutch though)
https://i.imgur.com/y4aoI.jpg
I too have had an absolutely miserable time doing SEPA with MtGox. It simply does not work.
SEPA debit transactions cannot be reversed either.
And what happens in the cases were fradulent transactions have taken place ? Will the banks reinstate the unlucky consumer from their own pocket, or will the bank of the orginating transaction make a reversal of the transaction ?
Ie. what happens in real life, when we have a situation like this ? Anyone with experience they'd like to share ?
Thanks for the explanation. I will see if I can find any whitepapers about SEPA to learn more about it.
SEPA debit transactions cannot be reversed either.
And what happens in the cases were fradulent transactions have taken place ? Will the banks reinstate the unlucky consumer from their own pocket, or will the bank of the orginating transaction make a reversal of the transaction ?
Ie. what happens in real life, when we have a situation like this ? Anyone with experience they'd like to share ?
SEPA debit transactions cannot be reversed either.
And what happens in the cases were fradulent transactions have taken place ? Will the banks reinstate the unlucky consumer from their own pocket, or will the bank of the orginating transaction make a reversal of the transaction ?
Ie. what happens in real life, when we have a situation like this ? Anyone with experience they'd like to share ?
Removed the [URGENT] tag. 
Replace it with a [FRAUDSTERS] tag
Same thing with some large German bank. Someone wanted to buy some bitcoins and I told him to send EUR to that Polish account, then his bank told him that they wouldnt know that Polish account. (?!)
I hope MtGox gets a new one soon!
I hope MtGox gets a new one soon!
Removed the [URGENT] tag.
SEPA debit transactions cannot be reversed either. And yes, exchanges do talk to banks, and switch banks when those talks amount to nothing.
The current issues seem to be only with the Dutch ING branch though.
The current issues seem to be only with the Dutch ING branch though.
Yes, bank account DO get blocked when they receive fradulent transactions.
There are several methods by which unscrupulous individuals can initiate fradulent transactions and cause problems for an exchange or a fixed rate exhanger.
I think one of the dumbest things an exchange can do is to just open a single account, and then let all funds flow in through this account. There should be several bank accounts for one exchange, and there needs to be done measures to try to fight the fraud, some sorts of fraud is very hard to fight, and once the bank sees that fraudulent transactions is entering a particular account, they're often very quick to just close that account. As far as the bank sees it, this is a troublesome account, and they want to get rid of the problem.
When an exchange opens a bank account, by default, it has to be expected it will be closed down at some point, unless there are talks with the bank and the bank understand the kind of business the exchange do and is willing to work with it, also when problems occur, because problems WILL occur.
Banks can always reverse a transfer, but bitcoin transactions cannot be reversed, so it's always the exchange or the fixed rate exchanger that gets shafted.
There are several methods by which unscrupulous individuals can initiate fradulent transactions and cause problems for an exchange or a fixed rate exhanger.
I think one of the dumbest things an exchange can do is to just open a single account, and then let all funds flow in through this account. There should be several bank accounts for one exchange, and there needs to be done measures to try to fight the fraud, some sorts of fraud is very hard to fight, and once the bank sees that fraudulent transactions is entering a particular account, they're often very quick to just close that account. As far as the bank sees it, this is a troublesome account, and they want to get rid of the problem.
When an exchange opens a bank account, by default, it has to be expected it will be closed down at some point, unless there are talks with the bank and the bank understand the kind of business the exchange do and is willing to work with it, also when problems occur, because problems WILL occur.
Banks can always reverse a transfer, but bitcoin transactions cannot be reversed, so it's always the exchange or the fixed rate exchanger that gets shafted.
Indeed. The German ING Diba solves it that way, they call their user, and he verifies that he wanted to send, and then they get out of the way.
Though, if you confirm that the transactions is valid, it's okay.
They would not allow this for me.
Made the call.
ING is blocking all suspicious forgein transactions cause of all the skimming that is happening the last couple of years.
So, Mtgox doesn't have any problem with there bank. Only other banks have problems with shady polish bank accounts.
Though, if you confirm that the transactions is valid via phone, it's okay.
So it's not already there blocking transactions cause of Bitcoin.
Will happen soon though.
ING is blocking all suspicious forgein transactions cause of all the skimming that is happening the last couple of years.
So, Mtgox doesn't have any problem with there bank. Only other banks have problems with shady polish bank accounts.
Though, if you confirm that the transactions is valid via phone, it's okay.
So it's not already there blocking transactions cause of Bitcoin.
Will happen soon though.
You guys should all be happy about this. Crap like this happening is exactly why Bitcoin is made useful.
"But not to me!" 
You guys should all be happy about this. Crap like this happening is exactly why Bitcoin is made useful.
Its actually understandable. If some hacker compromised your system, sending money via homebanking from your bank account to MtGox and convert the stolen funds to btc is the smart thing to do. Frustrating as it may be to someone who actually wants to send money to gox from a clean system, I suspect this measure has prevented more fraud than it annoyed actual gox customers.
Then call me and ask.
Also, they wouldn't allow me to transfer even after a phone call. Isn't it MY money?
ING uses a card reader, which requires the reader, your ATM card and code. I dont think yubikey is any more secure than that. But that doesnt prevent hackers from letting you sign your transactions with the card reader (or yubikey). You are just signing a different transaction than you thought.
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