Topic: MtGox withdrawal delays [Gathering] - page 316. (Read 908751 times)

see the bottom of this https://support.mtgox.com/entries/20800336-Multi-Currency-Trading

Where do you get the information that you can convert money on gox for 2.5%? I don't believe this is true. You would have to buy for USD then sell for EUR, thus it'd be the difference between those plus the fees (two times).

Warning: SEPA has never been "quick"! At least not for me. But I still get my money after a few weeks. I never withdarawl more than 999 euros in one go.


You have to switch your account to EURO. It will cost you 2.5% of your dollar assets. Then you need a SEPA bank account. You verify it with Mt. Gox and than you can withdrawal your money.

It's maybe not worth worrying about. It might save you a few weeks. Bank transfers always take long for Bitcoin. There are always times where individual exchanges are faster, but once all this AML shit comes with in it takes forever. Plan just several weeks or month. A year ago there was not so much money on Gox. Therefore, it was faster, also because Gox has ignored the laws. Now while everyone wants to withdrawal and the FINCEN is behind them it takes maybe forever. I did not even know until a few weeks ago that USD withdrawals went so fast in the past. I always tought it would be normal to have to wait several weeks.
So nothing has changed for me. 

I have 1500USD in Gox and it seems that only International Wire transfers are affected, because 2 guys on another forum, that I'm a member reported they got paid quick via SEPA.

And I'm trying to withdraw these 1500USD quickly and cheaply, which might not be possible?

If I want to do SEPA my only option is to buy Bitcoins and then sell them for Euro, right?

Also do you know what will happen if I use TransferWise account details, but give Gox my name as the account holder, because they can only withdraw/deposit to/from an account under your name.

Nowhere. Except to sell bitcoins. But he has sold most of his already in May as he wrote elsewhere already.

Assuming that Gox dies, that's logical, because Gox last helds 14 million USD in the Orderbook while bitstamp is more than 10 times smaller. Regardless how much money is on the exchanges the ratio is pretty clear here. Without Gox we go back to single digits. But Gox and the Millions of USD will survive, even if now "celebrity traders" like S3052 speculate against Gox. One should never be infected by panic. Gox either gets the problems solved or they are bought. Nobody throws 14 million dollar and more away just like that.

Personally, I can still make SEPA withdrawals as usual. I think it's an SEC / USD / GOX issue. Fortunately, I have never changed my account to dollars like so many people do.

Too much regulation in the USA and a community that does not understand that. But lets see! If the major community keep calm the SEC will have no change against us. Although they can freeze our fiat money this does not change the value of Bitcoin. The exact opposite is the case! But a part of the community do not believe in Bitcoin. They love to be pushed around by the banks and the SEC. They take a 10% and more haircut because they think we go back to single digits.

Yearly. They are working on fixing this though, they expect a few weeks.

what is the 2500 limit, weekly, monthly, per tx?

You must be EU resident.

To do over 2500 EUR you must be vierified. To be verified you must be german resident.

Hope this answers your question.

has anyone in the EU used bitcoin.de? i saw they just signed an agreement with a real bank in germany and supposedly customers will get free checking accounts as well?

does anyone know if you must be a german resident or can citizens of other EU countries residing outside of Germany take advantage of this??

Where will you trade now ?

I have cancelled all withdrawals  as none of them went through for 3 months.
Back into BTC, then all BTC withdrawn yesterday out of MtGox and now I am done with them.
For me mtgox is dead as of today.

It's now been 1 week since I requested a JPY Domestic Withdraw. It is for 10k Yen and still shows as "Confirmed."

So it does not appear that their SWIFT limit is the problem.

Also, 10 SWIFT transfers a day is BS, I've sent more than that in a day (I don't routinely do it, but nobody at my bank cares if i want to make 10 SWIFT transfers...).

Just to confirm once again, I have USD SWIFT Wire pending since 6/17 (6 figures), EUR SWIFT to Poland, EUR SEPA to Poland, and JPY to domestic japanese bank.

NONE of these have come through yet.

I'm going to go ahead and cancel a few of my withdraws and just take the hit to withdraw bitcoin. I don't see the situation at gox getting any better.

I totally agree. It should only be an hour's work for a developer. But I don't see them fixing this for a long, long time.

Ah!  I suppose I had hit the enter key and that had the same effect as the submit button.  I was scratching my head a bit on how the transaction ID showed up prior to submitting the transfer and thought it must be a part of an internal hot-wallet transfer or something.  But I didn't think that much about it.  blockchain.info beeped about 0.25 seconds after I hit the submit button.  I guess that was just happenstance but it threw me off as it seemed related due to the timing.

I'd say that not only should the button go away, but the text associated with an error of transferring 0.0 BTC to a null address should be different.  Neither potential problem given in the error message is appropriate for this issue.

You were not supposed to click on the Submit button as you had already withdrawn your coins. They should change the UI to not display the button after the screen refresh.

Just an update in fairness to Mt. Gox:

They again rejected my documentation, but when I pointed out in a rather frustrated note that the docs complied with all of their requirements, they sent positive response.  My best guess is that they mostly overlooked the fact that all my documentation actually did contain a street address and my suspicion that they were actively avoiding taking on new US customers is probably not the case.

The correspondence I've had with Mt. Gox's AML team has vastly exceeded my expectations in terms of how quickly they have gotten back to be with both rejections, and with the eventual acceptance.

Did Mark ever claim MtGox was MSB compliant in the US?  They relied on Dwolla, which is (or claims to be) and banks (which are).  Then DHS came about and declared Mutum Sigillum a threat to USSA homeland security due to some technicality in how MtGox transfer USD to and from Dwolla.  See: http://numismatics.pwnz.org/15may-dhs-seizure-of-mtgox-funds-held-by-dwolla/

So you don't think the shutdown of Dwolla increased the load of USD withdrawals via their bank?  Interesting.  Why?

Ya.  It is.  I only recently became interested in cashing some fraction of my holdings so I tried to get verified.  Mt Gox rejected my verification on some pretty bogus reason (my ID contained a P.O. Box IN ADDITION to my physical address as is common in my area.)  They either overlooked something or are making excuses to limit withdraws or avoid US customers or something.

But anyway, looking at the divergence in spot on the different exchanges for the first time in a while, I have to conclude that with the price so much higher on Mt. Gox, people are paying a premium to use other services for obtaining fiat.  So the problems may be significant.  Whatever the case I thought it prudent to withdraw some of the BTC I had with them while I wait for a response to my verification issue and look around for other options.  Here's what happened:

I received a transfer ID before I hit the submit button.  When I did, I got a red error message saying: "Limit reached or not enough bitcoins in your account."  Non-the-less the entire amount (around 50BTC) did to to my working blockchain.info wallet.  The 'beep' from blockchain.info happened immediately and it's labeld 'unconfirmed' at the moment (about 10 minutes after the fact.)  I had selected to pay a transaction fee.  I did not select 'green address', and blockchain.info shows 4 addressed from which the payout originated.

I would have thought that Mt. Gox would have some of these UI bugs by this time which is what this looks like to me.  Oh well.

It's striking how many things go wrong when Mt. Gox is supposed to pay out, isn't it.