Hi
I have been having problems with OK Pay too. I just posted about it actually:
https://bitcointalksearch.org/topic/m.2436884I requested a withdrawal of 500BTC on Sunday and they quoted me a USD exchange rate and everything looked OK - at first. Then I noted the payment was still pending 2 hours on and the BTC hadnt arrived in the wallet as i ordered. So i open a ticket and wait.
18 hours later I get an email telling me the transaction has been reversed with this rather non-sensical `explanation:`
Reason:
not enough btc to complete your requestSo i chase the ticket and though I have now had 3 replies from OK Pay, each is about 1 line offering the same odd explanation.
Although the USD has been credited back to my wallet now, i had several problems with this
1. Why they accepted the order in the first place if somehow they `didnt have enough bitcoin` to fill it
2. Why they took 18 hours to notify me of it, preventing me from taking alternative action
3. the USD in my Wallet were unavailable for that time preventing me from taking alternative action
4. Bitcoin has now moved against me so when i do make the transaction it will cost me 12% more - so a 6k loss.
5. I have received no sufficient cogent explanation about why they couldnt make the order they accepted. They use the Mt Gox exchange dont they to transact bitcoin to flll customer`s orders? Isnt that why their exchange rates are so uncompetitive? Because they need to meet their own costs and the exchanges costs and have a margin to protect against volatility? Otherwise are their uncompetitive rates just profiteering?
6. It seems to me this sort of action could be the cover for a scam. If they take orders, then delay actioning them for days, if BTC moves against the customer then they just complete the order late, and he has little to complain about. If BTC moves with the customer then they just reverse the transaction with some lame explanation (not enough bitcoin) and keep the transaction on their own account, thereby making 6k risk free effectively with my capital.
So much for their strap line that money paid is money paid! This is the 3rd transaction of mine they have reversed and I have only made 5 or 6 transactions with them in total!
LAK