Topic: Mt.Gox Euro Withdraw - What happened? (Read 1209 times)

With all the stupid anti money laundering procedures going on, for the western banks, we the customers are criminals until the contrary is proofed.

Who told you that Eastern Europe (I'm not talking about Russia obviously) has more crime then Western? I bet UK has more. Eastern EU is as safe as most Western EU countries, if not safer.

anyone wondering, why they got so much organized crime in eastern europe? 

Open some bank accounts in Poland for example. Banks over here mostly don't give a shit what kind of trade you do with the account.

I can't imagine them looking at the website.

They just care about your company papers and showing your passport. Never heard of anyone being refused/closed account in the last 10 years, if he had the normal documents stated on the bank website that are required to open the account.

Probably most Eastern European countries have most banks with such laid-back attitude. Latvia, Estonia, Czech Republic, etc.

They just care about your banking fees.

Countries in western Europe are much more strict, and its difficult to open an account - Belgium, France, Luxembourg, Sweden, Finland - completely different attitude, they want to know much more, who are you, from where is the money, etc, which would be completely unthinkable in Eastern Europe.

Thanks guys, i opened a request on the support site

Maybe a little.
They are running the business just fine but they should be more careful about small details like the ToS.

Also, while their corporate info and physical address in Japan is discoverable, they don't list any of it on the website (except just 'Tibanne Ltd'), not even a phone number.

The minimalistic no-bs approach is great for the customer but I can see why a higher up bank manager would be more than skeptical after a quick glance at the site.

Yup, you were mixing up the "bank account cancellation" problem and the "we can't get a new account opened" one. Different problems, different reasons.

That's a great thing, for them, and for all the customers.


That's logical, however, when merchants do that, they don't state on their website that "You are trading with other users of Mt Gox. Mt Gox does not act as a counter party to any trades.", it's a clear contradiction.

Because ok, you're prepaying the fees part, but if mtgox users trade directly with each other it means that all the money that doesn't pay fees is transmitted to the other party directly, making mtgox a money transmission business. Logical isn't it ?

That's also the reason it's not possible anymore to send money directly to another mtgox account from your account, it would make them instantly a money transmission business. The redeemable mtgox codes are a clever and legitimate way to *not* be considered an MSB, because they're accounted for in a different fashion.

How surprising

I don't think mtgox is doing anything wrong, in the morall sense, but I think they are operating in a legal gray zone and should be a little more transparent about it. Doesn't it surprise you that a web based business that handles tens of thousands USD a day doesn't have any terms of service to be found ?

Yes, I'm aware of fraud issues too.

I was basing it on this message by MagicalTux:

https://bitcointalksearch.org/topic/m.412894


They are negotiating to get accounts in Switzerland, Hong Kong and France

Absolutely not. It is because they were getting fraudulent wires from people with hijhacked/phished bank accounts.

Their french account Macaraja SAS was disabled due to high volume & refusal of the bank to process bitcoin related transactions.

They are acquiring a new bank account which takes time. Even their new bank refused to open an account,
But since that's illegal (all registered companies in France are entitled to a bank account) they had to get the account opened in front of a judge.

If you email them they can cancel your pending SEPA bank transfer. I did that a while ago.

Mt. Gox's Support / Ticket System:
 - http://support.mtgox.com/anonymous_requests/new

Now is 16 17 August

Have you emailed Mtgox or your bank about that?

I have withdrawed on 25.Juli some money.
Now its 16.Sept, end i still dont have the amount in my bank.
Is it normal? Or what?

(sorry about my english)