EDIT the below meant only regarding the initial issue from the op.
It does look like this might be as much a Dwolla issue as a Mt Gox issue https://bitcointalksearch.org/topic/dwolla-now-purposely-delays-usd-withdrawals-from-bitcoin-exchanges-77605
And this https://bitcointalksearch.org/topic/dwolla-changes-tos-to-prohibit-bitcoin-transactions-81945 hardly adds to Dwolla's credibility, neither does the whole Tradehill debacle.
However Mt Gox could be a lot more proactive in informing customers of issues.
Topic: MT.Gox will not release over $26,000 USD - page 2. (Read 8678 times)
The funny thing is people seem to think Amazon/Steam/Newegg/etc will be accepting Bitcoins within a month/year/decade. Maybe but it isn't going to happen when a single 5 figure move brings the largest global Bitcoin exchange to a halt for weeks. I mean even a prosperous medium sized retail business is going to have cashflow in the millions.
This. Unfortunately.
Anytime you want to admit this was the fault of your own stupidity and retract your flames against mtgox is a good mate.
Unless your to arrogant to admit your wrong even when it is plain to see for all.
Unless your to arrogant to admit your wrong even when it is plain to see for all.
So what's the root of your Gox sycophancy? Employee? Fanboy?
I don't see anything dodgy or improper about his transactions. On the other hand, the record of MtGox screwing people is very well established.
But the real kicker here is first they lie about the Dwolla transfer - 6 business days my ass, when I had the transfer in for longer than that (and this was prior to the 6 business days deal, where it was previously instant), it never completed and had to be canceled. Then they tell me I have to mail them (via snail mail) notarized documents for their "AML team" to "review." I've already sent them proof of my personhood, any further documents I would send them could just as easily be forged as what I've already sent them, so it's a useless request... not to mention it would then force me to wait for an undetermined amount of time for the documents to arrive in the mail, then the "AML Team" to "review" them.
Oh, so it's an anti-money laundering issue? I guess my question is relevant.
Oh Jeez. Um...The Joint ask you a question. Lots of people are waiting...
I'm still amazed you can transfer that much at once but that's just me. Always thought the hard limit was 10K / 30 days.
With AML verification it is $10K per day, $50K per month.
But the real kicker here is first they lie about the Dwolla transfer - 6 business days my ass, when I had the transfer in for longer than that (and this was prior to the 6 business days deal, where it was previously instant), it never completed and had to be canceled. Then they tell me I have to mail them (via snail mail) notarized documents for their "AML team" to "review." I've already sent them proof of my personhood, any further documents I would send them could just as easily be forged as what I've already sent them, so it's a useless request... not to mention it would then force me to wait for an undetermined amount of time for the documents to arrive in the mail, then the "AML Team" to "review" them.
Oh, so it's an anti-money laundering issue? I guess my question is relevant.
Anytime you want to admit this was the fault of your own stupidity and retract your flames against mtgox is a good mate.
Unless your to arrogant to admit your wrong even when it is plain to see for all.
Unless your to arrogant to admit your wrong even when it is plain to see for all.
Oh yeah, I saw that. What the hell is an interim bank fee, anyway? I've never even heard of that... not that I've done much wiring of funds. Maybe that's normal? 62 bucks to transfer 6k? Gah.
It is when the originating bank and destination bank don't share a wire link so they route it through an interim bank(s). The interim bank is happy to be the retransfer agent ... for a fee. Luck of the draw I guess. Maybe the bank MtGox uses will have a direct link to your bank and you will avoid the interim bank fee ... or maybe not. Other than this the only time I have seen interim bank fees is when the bank is way off the beaten path. Cashing out four or five figures from poker sites often resulted in 2 (or 3) interim banks (each charging $15 to $25 in fees).
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What do you guys think of Bitfloor? I was considering transferring the funds to them and then withdrawing via ACH... Additionally, it looks like they have a fairly robust API, I'm thinking of moving my automated trading stuff there as well. Their market depth is super thin, though, but then it's a chicken and egg problem.
Yeah that is the problem but one that won't solve itself. I am forcing myself to spread volume around to multiple exchanges. Semi-hypocritical I still use Gox but my goal now is to have 1/3rd my volume traded "off gox".
I wouldn't wire the $6K. Between Gox fees, interim bank fees, and my bank fees my last wire ending up costing. $62.87. 
Bad enough on $10K but the markup is worse on $6K. Hedge your bets. If it were me I would wire $10K (so you can see the total damage in fees), keep $10K in MtGox USD, and move the $6K back to BTC for withdrawal off-site. Oh and don't be "stupid" like me and start a 2nd wire before the first one clears. Despite no rule about that and no warning on withdrawal page doing that triggered an "insert BS lockdown excuse here" hold on my account for 5 days.
Bad enough on $10K but the markup is worse on $6K. Hedge your bets. If it were me I would wire $10K (so you can see the total damage in fees), keep $10K in MtGox USD, and move the $6K back to BTC for withdrawal off-site. Oh and don't be "stupid" like me and start a 2nd wire before the first one clears. Despite no rule about that and no warning on withdrawal page doing that triggered an "insert BS lockdown excuse here" hold on my account for 5 days.
Oh yeah, I saw that. What the hell is an interim bank fee, anyway? I've never even heard of that... not that I've done much wiring of funds. Maybe that's normal? 62 bucks to transfer 6k? Gah.
What do you guys think of Bitfloor? I was considering transferring the funds to them and then withdrawing via ACH... Additionally, it looks like they have a fairly robust API, I'm thinking of moving my automated trading stuff there as well. Their market depth is super thin, though, but then it's a chicken and egg problem.
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The funny thing is people seem to think Amazon/Steam/Newegg/etc will be accepting Bitcoins within a month/year/decade. Maybe but it isn't going to happen when a single 5 figure move brings the largest global Bitcoin exchange to a halt for weeks. I mean even a prosperous medium sized retail business is going to have cashflow in the millions.
This is quite true ... Amazon et al would have to basically run their own exchange. There's no way any of the current offerings could handle real global commerce, both from a CS perspective and from an operational one.
Wow another e-tantrum directed at MTGOX from a dodgy user - big surprise.
Customer who report the problem after complying w/ MtGox rules and false promises is an e-tantrum?
You think funds locked up in limbo for weeks while customer support is utterly clueless and their website continually lies to other customers on the withdrawal options/timelines is acceptable business practices?
I'm still amazed you can transfer that much at once but that's just me. Always thought the hard limit was 10K / 30 days.
With AML verification it is $10K per day, $50K per month.
I wouldn't wire the $6K. Between Gox fees, interim bank fees, and my bank fees my last wire ending up costing. $62.87.
Bad enough on $10K but the markup is worse on $6K. Hedge your bets. If it were me I would wire $10K (so you can see the total damage in fees), keep $10K in MtGox USD, and move the $6K back to BTC for withdrawal off-site. Oh and don't be "stupid" like me and start a 2nd wire before the first one clears. Despite no rule about that and no warning on withdrawal page doing that triggered an "insert BS lockdown excuse here" hold on my account for 5 days.
The funny thing is people seem to think Amazon/Steam/Newegg/etc will be accepting Bitcoins within a month/year/decade. Maybe but it isn't going to happen when a single 5 figure move brings the largest global Bitcoin exchange to a halt for weeks. I mean even a prosperous medium sized retail business is going to have cashflow in the millions.
Bad enough on $10K but the markup is worse on $6K. Hedge your bets. If it were me I would wire $10K (so you can see the total damage in fees), keep $10K in MtGox USD, and move the $6K back to BTC for withdrawal off-site. Oh and don't be "stupid" like me and start a 2nd wire before the first one clears. Despite no rule about that and no warning on withdrawal page doing that triggered an "insert BS lockdown excuse here" hold on my account for 5 days.
The funny thing is people seem to think Amazon/Steam/Newegg/etc will be accepting Bitcoins within a month/year/decade. Maybe but it isn't going to happen when a single 5 figure move brings the largest global Bitcoin exchange to a halt for weeks. I mean even a prosperous medium sized retail business is going to have cashflow in the millions.
So now, they basically have had free use of my funds for nearly 3 weeks, with no compensation, besides the lies and delay tactics I've received so far and have eliminated that last possible method for me to get USD out of MTGox.
MT.Gox need to start compensating people with an acceptable rate of interest ....DAILY.
If they were FINALLY faced with a situation that could cost them money (cutting into their tidy little interest profit scam) they might do better to move things along a bit quicker for users who are looking to get their money out.
Honestly, think about it though.
What incentive do they currently have to speed up your transfer of money out to you ?
Someone needs to step up and offer them some competition.
Until this happens, they will simply continue to shit all over the users that make them rich.
The only way that things will ever get better is if they are challenged...not only by customers, but mostly by competition.
I got another useless response from MTGox support:
Indeed they do still have wire transfers as I detailed a couple posts ago. Except it's called "Withdraw Wizard" now, not "Wire" or "Bank Transfer". Silly me.
But the real kicker here is first they lie about the Dwolla transfer - 6 business days my ass, when I had the transfer in for longer than that (and this was prior to the 6 business days deal, where it was previously instant), it never completed and had to be canceled. Then they tell me I have to mail them (via snail mail) notarized documents for their "AML team" to "review." I've already sent them proof of my personhood, any further documents I would send them could just as easily be forged as what I've already sent them, so it's a useless request... not to mention it would then force me to wait for an undetermined amount of time for the documents to arrive in the mail, then the "AML Team" to "review" them.
Ludicrous. So I am forced to either pay additional fees to convert BACK (yet again) into BTC and transfer out or pay the $60, over the course of 3 days, to withdraw the USD... which does not include what my bank charges me to receive the transfer.
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We still have wire transfers. Please choose the option of Bank Transfer instead and enter your bank details. If you would like to have a withdrawal limit increase, you would have to become a Trusted account in which your documents will have to be notarized, apostilled and mailed to us for our AML team to review.
Dwolla is still an available option as well should you wish to withdraw through Dwolla. It is currently taking 6 business days to process. Please let us know if you require any further assistance.
Dwolla is still an available option as well should you wish to withdraw through Dwolla. It is currently taking 6 business days to process. Please let us know if you require any further assistance.
Indeed they do still have wire transfers as I detailed a couple posts ago. Except it's called "Withdraw Wizard" now, not "Wire" or "Bank Transfer". Silly me.
But the real kicker here is first they lie about the Dwolla transfer - 6 business days my ass, when I had the transfer in for longer than that (and this was prior to the 6 business days deal, where it was previously instant), it never completed and had to be canceled. Then they tell me I have to mail them (via snail mail) notarized documents for their "AML team" to "review." I've already sent them proof of my personhood, any further documents I would send them could just as easily be forged as what I've already sent them, so it's a useless request... not to mention it would then force me to wait for an undetermined amount of time for the documents to arrive in the mail, then the "AML Team" to "review" them.
Ludicrous. So I am forced to either pay additional fees to convert BACK (yet again) into BTC and transfer out or pay the $60, over the course of 3 days, to withdraw the USD... which does not include what my bank charges me to receive the transfer.
I'm still amazed you can transfer that much at once but that's just me. Always thought the hard limit was 10K / 30 days.
Wow another e-tantrum directed at MTGOX from a dodgy user - big surprise.
Result will either be
A) MTGOX had legit delays, resolves it and the big sook gets his 26k
B) MTGOX ask for ID, Inaba refuses and posts another e-rant.
Seriously, grow the fuck up, You tell everyone to accept delays from BFL but you wont wait 3 weeks for them to resolve an international money transfer issue ?
EDIT: Oh well done for reading the MTGOX FAQ, that rant seems a bit stupid now doesnt it ?
Result will either be
A) MTGOX had legit delays, resolves it and the big sook gets his 26k
B) MTGOX ask for ID, Inaba refuses and posts another e-rant.
Seriously, grow the fuck up, You tell everyone to accept delays from BFL but you wont wait 3 weeks for them to resolve an international money transfer issue ?
EDIT: Oh well done for reading the MTGOX FAQ, that rant seems a bit stupid now doesnt it ?
Ok, so apparently the "Withdraw Wizard" is actually a "Wire Transfer Wizard." What a completely asinine design.
Anyway, you can apparently still do wire transfers, they've just hidden it behind a bunch of junk, making it non-obvious. Select bank transfer, then get a pop up screen with DWOLLA and OKPAY promenintly displayed, but click that button over there that says wizard and has nothing to do with "Bank Transfer", then you can enter your information.
Now I'm back to paying $20 fee per transfer, of which I have to do 3 of, so $60 charged by MTGox to withdraw my funds... not to mention the money I have to pay for EACH transfer by my institution.
All in all, I've lost over $1000 due to "fees" and exchange rate fluctuation over the past 3 weeks, all thanks to MTGox ineptitude.
Anyway, you can apparently still do wire transfers, they've just hidden it behind a bunch of junk, making it non-obvious. Select bank transfer, then get a pop up screen with DWOLLA and OKPAY promenintly displayed, but click that button over there that says wizard and has nothing to do with "Bank Transfer", then you can enter your information.
Now I'm back to paying $20 fee per transfer, of which I have to do 3 of, so $60 charged by MTGox to withdraw my funds... not to mention the money I have to pay for EACH transfer by my institution.
All in all, I've lost over $1000 due to "fees" and exchange rate fluctuation over the past 3 weeks, all thanks to MTGox ineptitude.
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"Please be aware that our International Wire withdraw method has now officially been replaced by our newly launched Withdrawal Center"
Woah. ... no more international wire withdrawal? Is that globally, or just U.S.?
It sounds confusing at first, but there is an ability to setup wire withdraws from Withdraw Center by clicking on "Add withdraw method" button and then completing withdraw template wizard
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"Please be aware that our International Wire withdraw method has now officially been replaced by our newly launched Withdrawal Center"
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