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Topic: MtGox withdrawal delays [Gathering] - page 267. (Read 908613 times)

legendary
Activity: 4690
Merit: 1276
September 28, 2013, 12:22:21 PM

Quote
#5. Everything Is Frightfully Low-Tech

*"What is a fax machine?" is an entirely acceptable response.

... You can always try an ATM at a convenience store (the number of which currently exceeds the national population)...

I still get a kick out of the name 'Lawsons' for a 7-11 in Japan.  They were all over the place.  I'm a bit of a connoisseur warm food from such places, and the stuff in Japan was a delight.

I could agree with the characterization 'retro' to describe aspects of Japanese technology and life-ways from what I saw of it.  I think that the entire world deeply appreciates and respects the Japanese propensity for quality in engineering and implementation of their lower tech wares.  I certainly do, and happily pay a premium for it.

legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
September 28, 2013, 08:33:49 AM
I made a withdraw via SWIFT on the 6 of August. Still didnt got the funds....answer from support:

" Currently, we are processing International wire transfers manually and have a huge backlog of withdrawals to be cleared. We are in the process of forming relationships with new partners, banks, and taking other steps to clear the backlog. We are expecting the withdrawals to be cleared soon. We will let you know once the withdrawal is processed. Sorry for the inconvenience caused."

This is the same type of excuse BFL keeps making. lol
member
Activity: 90
Merit: 10
September 28, 2013, 08:17:37 AM
you need to keep fistfuls of cash either on your person at all times or piled under a mattress in your freezing apartment.

Wait, why is your apartment freezing? Because ...

lol... Good article. I agree. Japan is amazing in so many ways, but in my experiences visiting there, I can say that some things will shock you in terms of their technology--in good ways and bad.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 28, 2013, 07:49:47 AM
That aside, even if all this is accurate.  Then why have the domestic transfer times gone out the window if the new partner does not require it?  Wouldn't it be quicker?
When was the last time you tried?  I heard there was a few days delay when they switched banks, and there are no domestic transfers from Friday through Sunday.  And there are Japanese holidays, of course.  16th and 23rd this month.
legendary
Activity: 1400
Merit: 1013
September 28, 2013, 07:41:18 AM
Fax!  In 2013!  For a simple domestic transfer!  Can you even buy fax machines any more?  Must be years since I saw one of those.  No wonder even Japanese transfers were slow during high volume periods.  People still think SWIFT transfers from the same banks are fully automated?
http://www.cracked.com/article_20118_5-things-nobody-tells-you-about-living-in-japan.html

Quote
#5. Everything Is Frightfully Low-Tech

Quick question: When was the last time you had to use a fax machine?*

*"What is a fax machine?" is an entirely acceptable response.

Well, you should try moving to Japan if you want to recapture the magic of the fax machine and other 1990s technology. I actually use one about twice a month to send out my work invoices, because many of the Japanese companies that employ me do not accept paperwork by email. The rare ones that do require that my Word/Excel files be compatible with their 1998 version of Microsoft Office, which is sort of like requiring your Avengers Blu-ray to play on a Betamax machine.

My point is, on the surface Japan seems like the closest thing Earth currently has to a moon base, what with their stock exchange being entirely computerized and wireless Internet literally coming out of their vending machines.

But the truth is, many things are still being done in painfully old-fashioned ways, a phrase which here means "by hand and on paper." Actually, having seen the amount of paper a typical Japanese office goes through, I feel safe in assuming that the entire country has declared a shadow war on both the information age and trees.

How can this be? Well, Japan is still mainly in the hands of the older generation: Over a fourth of the population is over 60, and they're in no particular hurry to adopt new technology (particularly not Apple products, because as far as Japan is concerned, Steve Jobs can go fuck himself). Institutions like banks, the postal service and government offices still keep all of their records on paper, maintained and filed by superfluous personnel who could easily be replaced by an old Soviet computer (which incidentally is more or less what a friend of mine at a Yokohama municipal office was using at his workstation as recently as 2010).

Many businesses still don't even accept credit cards. A Japanese airline can get you to any corner of the globe without a hassle, so long as you're paying in cash, even if the tickets come up to a few thousand dollars each (and I wish I wasn't speaking from experience). This is made even more difficult by the fact that I don't think I've ever seen a 24-hour ATM anywhere in Japan.

That's right; most banks in Japan keep their ATMs indoors, which means that once the banks close (typically around 6 p.m.), so do the machines, utterly defeating their entire purpose for existing. It's another extension of that technological resistance -- pretty much anywhere outside of Tokyo harbors a deep generational resentment for automation. They don't want the ATMs operational while there aren't any bank employees around to help in case something goes wrong (although outside of users being clubbed with a thermos and robbed, the list of possible mishaps is embarrassingly short). You can always try an ATM at a convenience store (the number of which currently exceeds the national population), if you don't mind the variable transaction fees that seemingly change at random. And that's only if your ATM card will even work in machines outside of your bank, which it almost certainly won't.

Of course, the best time to find out whether the 7-Eleven around the corner accepts your card is after 1 a.m., when all of the public transport has stopped and you desperately need money for a taxi. Basically, if you're planning on doing anything at all besides going to and from work, you need to keep fistfuls of cash either on your person at all times or piled under a mattress in your freezing apartment.

Wait, why is your apartment freezing? Because ...
hero member
Activity: 552
Merit: 501
September 28, 2013, 06:18:08 AM
I tried to withdraw a medium-sized chunk of BTC from Gox yesterday at 9:00 UK time.

After 5 hours of being given the "Invalid address lie" it finally let went through at 14:00.

However the BTC didn't arrive until midnight which of course meant I couldn't do much with it until this morning.

So really it was 24 hours. Nice going Gox.

So far my bargepole has to be long enough to keep away from BTC-e and Gox.

About the only exchange of any use and which I trust right now is MCXnow.

24-hours is lightspeed for MtGox. 

Small withdraw ~1btc at about the same time, got the invalid message for about 10 mins, gave up and contracted support. replied 20 mins with a response which sounded like flannel but who knows.
20 minutes later transaction worked 2 hours later 6 confirms in the wallet. So not too bad considering the stories I'm hearing.

+1 on the mcxNOW has been a great exchange since I found it in early May

Is this just a crypto exchange?
member
Activity: 90
Merit: 10
September 28, 2013, 06:14:00 AM
I don't know if this is good news or bad news, but it is certainly a big WTF regarding Japanese banks..:
Code:
11:05 < sturles> I noticed on the forum that Japanese domestic transfers come 
                 from a new bank.  I keep watching for reports of international
                 wires from a new bank as well.  That would be a very good sign.
11:08 <@MagicalTux> sturles, the new bank we use for Japanese transfers is a
                    domestic only bank
11:16 < sturles> Oh. :-(
11:18 <@MagicalTux> they're the first bank we've seen in JApan that can do
                    domestic transfers without the need for faxes
Fax!  In 2013!  For a simple domestic transfer!  Can you even buy fax machines any more?  Must be years since I saw one of those.  No wonder even Japanese transfers were slow during high volume periods.  People still think SWIFT transfers from the same banks are fully automated?

I have heard a number of Japanese brag about how "advanced" their banking is, and yet we find they need fax to do wires. This is the farthest thing from advanced. I can send wires from the US without faxes.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 28, 2013, 05:45:41 AM
I don't know if this is good news or bad news, but it is certainly a big WTF regarding Japanese banks..:
Code:
11:05 < sturles> I noticed on the forum that Japanese domestic transfers come 
                 from a new bank.  I keep watching for reports of international
                 wires from a new bank as well.  That would be a very good sign.
11:08 <@MagicalTux> sturles, the new bank we use for Japanese transfers is a
                    domestic only bank
11:16 < sturles> Oh. :-(
11:18 <@MagicalTux> they're the first bank we've seen in JApan that can do
                    domestic transfers without the need for faxes
Fax!  In 2013!  For a simple domestic transfer!  Can you even buy fax machines any more?  Must be years since I saw one of those.  No wonder even Japanese transfers were slow during high volume periods.  People still think SWIFT transfers from the same banks are fully automated?
sr. member
Activity: 414
Merit: 251
September 27, 2013, 02:09:56 PM
I tried to withdraw a medium-sized chunk of BTC from Gox yesterday at 9:00 UK time.

After 5 hours of being given the "Invalid address lie" it finally let went through at 14:00.

However the BTC didn't arrive until midnight which of course meant I couldn't do much with it until this morning.

So really it was 24 hours. Nice going Gox.

So far my bargepole has to be long enough to keep away from BTC-e and Gox.

About the only exchange of any use and which I trust right now is MCXnow.

24-hours is lightspeed for MtGox. 

Small withdraw ~1btc at about the same time, got the invalid message for about 10 mins, gave up and contracted support. replied 20 mins with a response which sounded like flannel but who knows.
20 minutes later transaction worked 2 hours later 6 confirms in the wallet. So not too bad considering the stories I'm hearing.

+1 on the mcxNOW has been a great exchange since I found it in early May
hero member
Activity: 672
Merit: 500
September 27, 2013, 01:55:53 PM
I tried to withdraw a medium-sized chunk of BTC from Gox yesterday at 9:00 UK time.

After 5 hours of being given the "Invalid address lie" it finally let went through at 14:00.

However the BTC didn't arrive until midnight which of course meant I couldn't do much with it until this morning.

So really it was 24 hours. Nice going Gox.

So far my bargepole has to be long enough to keep away from BTC-e and Gox.

About the only exchange of any use and which I trust right now is MCXnow.

24-hours is lightspeed for MtGox. 
member
Activity: 90
Merit: 10
September 27, 2013, 10:23:05 AM
Any new withdrawal success people?
hero member
Activity: 540
Merit: 500
September 27, 2013, 09:43:05 AM
that's even better, I edited my post, thanks.
legendary
Activity: 1148
Merit: 1018
September 27, 2013, 09:16:58 AM
I am really curious how long you guys had to wait recently to get this EURO withdrawal on your bank account? I know that USD withdrawal can take several months, but I was hoping that EURO withdrawal would take a few weeks at maximum.
Almost a month now for SEPA.  Extremely high volume of withdrawals have caused the queue to grow again. :-(


Thanks for the reply, I don't like it but I could live with 1 month delay. I am just a little worried that I open MtGox.com one day and see a message that they have gone bankrupt or something. That would probably mean I would lose all my money in transition.

What a lot of people also don't know is that you can have your withdrawal limit increased from €1000 a day/€10.000 a month to maximum of €7500 a day / €40.000 a month by e-mailing [email protected]. That way if you want to withdraw 5000 for example you don't have to enter 5 x € 1000 for 5 consecutive days, but just one time € 5000 withdrawal.


you can have 10.000€ a day/50.000€  a month
hero member
Activity: 540
Merit: 500
September 27, 2013, 09:14:57 AM
I am really curious how long you guys had to wait recently to get this EURO withdrawal on your bank account? I know that USD withdrawal can take several months, but I was hoping that EURO withdrawal would take a few weeks at maximum.
Almost a month now for SEPA.  Extremely high volume of withdrawals have caused the queue to grow again. :-(


Thanks for the reply, I don't like it but I could live with 1 month delay. I am just a little worried that I open MtGox.com one day and see a message that they have gone bankrupt or something. That would probably mean I would lose all my money in transition.

What a lot of people also don't know is that you can have your withdrawal limit increased from €1000 a day/€10.000 a month to maximum of €10000 a day / €50.000 a month by e-mailing [email protected]. That way if you want to withdraw 5000 for example you don't have to enter 5 x € 1000 for 5 consecutive days, but just one time € 5000 withdrawal.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 27, 2013, 09:02:39 AM
I am really curious how long you guys had to wait recently to get this EURO withdrawal on your bank account? I know that USD withdrawal can take several months, but I was hoping that EURO withdrawal would take a few weeks at maximum.
Almost a month now for SEPA.  Extremely high volume of withdrawals have caused the queue to grow again. :-(
hero member
Activity: 540
Merit: 500
September 27, 2013, 08:09:15 AM
I got an e-mail from support about the invalid Bitcoin address error.

BTC withdrawal:

It appears for some reason this error is triggered from the platform for few BTC withdrawals specially, we are currently investigating on the cause and the solution. We appreciate your patience and sincere apologies for the inconveniences caused. We request you to try after some time and still the issue exists please provide us the BTC address and the Screen shot of the error message or please drop a line if you were able to withdraw after a while.


I am really curious how long you guys had to wait recently to get this EURO withdrawal on your bank account? I know that USD withdrawal can take several months, but I was hoping that EURO withdrawal would take a few weeks at maximum.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 27, 2013, 07:58:13 AM
However the BTC didn't arrive until midnight which of course meant I couldn't do much with it until this morning.
I have had this problem – delayed BTC transfers due to empty hot wallet or other problems – on every exchange I have tried.  No exceptions.  Usually the hot wallet is empty, and a refill will fix it.  Known cause of the invalid address error on MtGox.  No exchange I ever tried gave me an honest error message indicating empty hot wallet either.
sr. member
Activity: 350
Merit: 250
"Don't go in the trollbox, trollbox, trollbox"
September 27, 2013, 07:44:31 AM
I tried to withdraw a medium-sized chunk of BTC from Gox yesterday at 9:00 UK time.

After 5 hours of being given the "Invalid address lie" it finally let went through at 14:00.

However the BTC didn't arrive until midnight which of course meant I couldn't do much with it until this morning.

So really it was 24 hours. Nice going Gox.

So far my bargepole has to be long enough to keep away from BTC-e and Gox.

About the only exchange of any use and which I trust right now is MCXnow.
sr. member
Activity: 354
Merit: 250
September 27, 2013, 02:03:56 AM
When was the last time someone received a manual 5% fee withdrawal?

Gonna repeat this question as there's been no answer. And I suspect no manual withdrawals.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 27, 2013, 01:51:11 AM
1 of 10 withdrawal attempts from MtGox bounces due to wrong information (wrong account number, wrong owner, wrong SWIFT address, etc), and all of the bounces have to be handled manually by their bank.  This is what overloaded their old bank.  They will have to work slowly through the queue to avoid too much work at once, but hopefully at a much faster pace.
This is exactly what I call a lame excuse. It sounds ridiculous for anyone who knows how a modern bank works. I can hardly imagine that you can “overwhelm” a bank with wire transfers. Actually, this is the way the banks make money. It is as mtgox would not let you trade because you overload their system with you trades.  
So you know how a modern Japanese bank works and do international wires?

My bank is very modern – I have done all my banking online since 1997 – but all international wires still need manual intervention by the bank (ACK/NACK, sometimes routing).  None are handled outside of normal office hours.  If it bounces, they will call me if they can't find an obvious fix (they may call the receiving bank first).  I would be interested to hear how this is done in Japan, since they, according to you, use a different system for international wires.  Please tell us more!
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