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Topic: MtGox withdrawal delays [Gathering] - page 274. (Read 908613 times)

legendary
Activity: 2100
Merit: 1000
September 20, 2013, 03:12:20 PM
i just contacted them and will share the answer when I get it
hero member
Activity: 882
Merit: 501
Ching-Chang;Ding-Dong
September 20, 2013, 03:07:40 PM
I don't see where my referral code would be on their site or i'd post it as well. I think that feature may be depreciated.

 
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 20, 2013, 03:06:07 PM
I guess it's possible that my overall balances somehow make me a preferred customer but are you trying to say Gox isn't?  So two possibilities exist.  Either they are doing it on purpose and lying about limits that don't exist or their bank really put in those limits because they see their money flows and balance sheet and think they are at risk.  Both scenarios are a bit worrisome.
Both scenarios are a bit far fetched.  The limit has been the same since MtGox got that Polish bank account in 2011.  Judging by the price difference ein EUR/BTC vs USD/BTC, much more money has gone in through that account than out.  Why would their bank lie about the limit, btw?
legendary
Activity: 2100
Merit: 1000
September 20, 2013, 02:51:24 PM
got it. let me see if i can get a referrer cose
zyk
full member
Activity: 224
Merit: 101
September 20, 2013, 02:49:51 PM
may I ask you for a referral to bitfinex....sure Gox should be history  Wink
I may misunderstand you, but cant you just register there?
here is also the contact: [email protected]

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where are the codes to be gotten then  Wink
legendary
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
September 20, 2013, 02:45:04 PM
I guess it's possible that my overall balances somehow make me a preferred customer but are you trying to say Gox isn't?  So two possibilities exist.  Either they are doing it on purpose and lying about limits that don't exist or their bank really put in those limits because they see their money flows and balance sheet and think they are at risk.  Both scenarios are a bit worrisome.

...
I guess I'll look but again I've never heard of a limit on transactions by a bank.  Now their bank may be holding deposits for certain time and they can't send out withdrawals because of that.   It's called a liquidity crunch but I just can't see a hold on incoming wires longer then 7-10 days.

You either have very limited experience of banking or have preferential access due to substantial wealth, either way, bank transfer limits are very real for the rest of us.
legendary
Activity: 2100
Merit: 1000
September 20, 2013, 02:43:32 PM
may I ask you for a referral to bitfinex....sure Gox should be history  Wink
I may misunderstand you, but cant you just register there?
here is also the contact: [email protected]
zyk
full member
Activity: 224
Merit: 101
September 20, 2013, 02:39:57 PM
may I ask you for a referral to bitfinex....sure Gox should be history  Wink
legendary
Activity: 2100
Merit: 1000
September 20, 2013, 02:33:17 PM
Finally received a 5 figure SEPA transfer from July 4th  Grin


2.5 months is ridiculous. I gave up after 3 weeks.

I don't see the issue at all with MtGox withdrawals anymore (yes I am over-simplyfying). There are a few other exchanges where withdrawals work almost instantly, my best experience it with bitfinex. All withdrawals processed within 3 days. I had at least 10 of them in the past 3 months.

It could be that simple: Buy some BTC at MtGox, withdraw BTC, send to another exchange... and MtGox is history...
full member
Activity: 156
Merit: 100
September 20, 2013, 10:27:59 AM
Finally received a 5 figure SEPA transfer from July 4th  Grin

Thanks for the useful info. I'm still waiting on a 4 figure USD wire to Europe from July 2nd.

Sit tight and have ye faith  Cool
hero member
Activity: 882
Merit: 501
Ching-Chang;Ding-Dong
September 20, 2013, 04:28:14 AM
SEPA is EUR only.  USD is international wire, a different queue.  There are several queues, and you are punished for multiple withdrawals.  For SEPA you are punished for very large withdrawals (> 30k EUR) as well, because MtGox are limited by amount/day.  For other international wires MtGox are limited by number of wires/day.
I'm just curious how can they be "limited by amount/day"?  I understand the various problems as far as different banks having problems but that's pretty instant to figure out.  They send the wire and it comes back so they can inform the client that it came back but if they have funds to send no bank will limit your ability to send these funds or am I missing something?
Someone called their bank in Poland and asked about their limits.  It is somewhere in this thread.  Finding a good bank for a Bitcoin business is hard.
I guess I'll look but again I've never heard of a limit on transactions by a bank.  Now their bank may be holding deposits for certain time and they can't send out withdrawals because of that.   It's called a liquidity crunch but I just can't see a hold on incoming wires longer then 7-10 days.

You either have very limited experience of banking or have preferential access due to substantial wealth, either way, bank transfer limits are very real for the rest of us.
In which country are you referring? There's many businesses in Poland who exceed that limit.
hero member
Activity: 700
Merit: 500
What doesn't kill you only makes you sicker!
September 20, 2013, 04:21:28 AM
SEPA is EUR only.  USD is international wire, a different queue.  There are several queues, and you are punished for multiple withdrawals.  For SEPA you are punished for very large withdrawals (> 30k EUR) as well, because MtGox are limited by amount/day.  For other international wires MtGox are limited by number of wires/day.
I'm just curious how can they be "limited by amount/day"?  I understand the various problems as far as different banks having problems but that's pretty instant to figure out.  They send the wire and it comes back so they can inform the client that it came back but if they have funds to send no bank will limit your ability to send these funds or am I missing something?
Someone called their bank in Poland and asked about their limits.  It is somewhere in this thread.  Finding a good bank for a Bitcoin business is hard.
I guess I'll look but again I've never heard of a limit on transactions by a bank.  Now their bank may be holding deposits for certain time and they can't send out withdrawals because of that.   It's called a liquidity crunch but I just can't see a hold on incoming wires longer then 7-10 days.

You either have very limited experience of banking or have preferential access due to substantial wealth, either way, bank transfer limits are very real for the rest of us.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 20, 2013, 04:04:33 AM
Someone called their bank in Poland and asked about their limits.  It is somewhere in this thread.  Finding a good bank for a Bitcoin business is hard.
I guess I'll look but again I've never heard of a limit on transactions by a bank.  Now their bank may be holding deposits for certain time and they can't send out withdrawals because of that.   It's called a liquidity crunch but I just can't see a hold on incoming wires longer then 7-10 days.
I have a limit in my bank as well.  I don't usually reach the limit.

Their limit is 120k EUR/day.  I have no idea why the limit is so low.  They are really sending that much, and the situation has in fact improved for SEPA.  In May a SEPA withdrawal took 5 weeks, and I don't think anyone believe MtGox were in a liquidity crunch in May.
member
Activity: 90
Merit: 10
September 20, 2013, 02:42:11 AM
Anybody recently with completed ABA transfer?
legendary
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
September 20, 2013, 01:56:31 AM
SEPA is EUR only.  USD is international wire, a different queue.  There are several queues, and you are punished for multiple withdrawals.  For SEPA you are punished for very large withdrawals (> 30k EUR) as well, because MtGox are limited by amount/day.  For other international wires MtGox are limited by number of wires/day.
I'm just curious how can they be "limited by amount/day"?  I understand the various problems as far as different banks having problems but that's pretty instant to figure out.  They send the wire and it comes back so they can inform the client that it came back but if they have funds to send no bank will limit your ability to send these funds or am I missing something?
Someone called their bank in Poland and asked about their limits.  It is somewhere in this thread.  Finding a good bank for a Bitcoin business is hard.
I guess I'll look but again I've never heard of a limit on transactions by a bank.  Now their bank may be holding deposits for certain time and they can't send out withdrawals because of that.   It's called a liquidity crunch but I just can't see a hold on incoming wires longer then 7-10 days.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 20, 2013, 01:37:31 AM
Finally received a 5 figure SEPA transfer from July 4th  Grin
2.5 months is ridiculous. I gave up after 3 weeks.
I got mine after less than 2.  Expecting the second by the end of this month (~8k EUR on September 11th).  2.5 months either means he made multiple withdrawals, or the amount was > 30k EUR, or there were special complications.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 20, 2013, 01:32:11 AM
SEPA is EUR only.  USD is international wire, a different queue.  There are several queues, and you are punished for multiple withdrawals.  For SEPA you are punished for very large withdrawals (> 30k EUR) as well, because MtGox are limited by amount/day.  For other international wires MtGox are limited by number of wires/day.
I'm just curious how can they be "limited by amount/day"?  I understand the various problems as far as different banks having problems but that's pretty instant to figure out.  They send the wire and it comes back so they can inform the client that it came back but if they have funds to send no bank will limit your ability to send these funds or am I missing something?
Someone called their bank in Poland and asked about their limits.  It is somewhere in this thread.  Finding a good bank for a Bitcoin business is hard.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
September 19, 2013, 07:17:02 PM
Finally received a 5 figure SEPA transfer from July 4th  Grin


2.5 months is ridiculous. I gave up after 3 weeks.
legendary
Activity: 896
Merit: 1006
First 100% Liquid Stablecoin Backed by Gold
September 19, 2013, 04:58:05 PM
Finally received a 5 figure SEPA transfer from July 4th  Grin
Thanks for the useful info. I'm still waiting on a 4 figure USD wire to Europe from July 2nd.
They don't even follow the chronological order of withdrawals within a queue that is 2 1/2 months old. What a joke.
SEPA is EUR only.  USD is international wire, a different queue.  There are several queues, and you are punished for multiple withdrawals.  For SEPA you are punished for very large withdrawals (> 30k EUR) as well, because MtGox are limited by amount/day.  For other international wires MtGox are limited by number of wires/day.
I'm just curious how can they be "limited by amount/day"?  I understand the various problems as far as different banks having problems but that's pretty instant to figure out.  They send the wire and it comes back so they can inform the client that it came back but if they have funds to send no bank will limit your ability to send these funds or am I missing something?
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
September 19, 2013, 03:18:47 PM
Sorry, I made a mistake overseeing it's a SWIFT transfer, probably because it said Europe. SWIFT has people waiting since mid June, so of course he hasn't seen the money yet …

You're providing good info, have you considered creating a thread with up to date facts for people who would like to withdraw via SWIFT/SEPA/Japan domestic?
I am trying to convince MtGox to put up an official page, but it is difficult.  Probably due to many special cases and tweaks.  The queue is never processed exactly in order, but optimized to minimize failures.  E.g. some banks return more transfers than other banks for no apparent reason, so don't spend the entire quota trying to re-send to the problematic banks.  Some people try to withdraw to an account under a different name than the account holder, so be careful with new accounts.  Etc.  If they publish official numbers, the numbers will either look very bad, or people negatively affected by the optimizations will complain about the official numbers being wrong.
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