Bitstamp withdrawl

[Bitcoin]

So due to an emergency I had to dilute some of my XRP. I live in Canada and I use the bitstamp exchange. This is the first time I've withdrew from bitstamp. About a week ago, or 6 business days ago, I withdrew to my bank account via international wire transfer and I had go go through an intermediary bank in the states. They said it should only take 5 business days to have the wire transfered, but I'm already on day 6 and no response back from bitstamp support. Anyone else went through the same issue before?

Edited January 18, 2018 by Bitcoin

[jhollywood]

I know they are very backed up w account approvals, I would hope they are giving priority to people that are withdrawing.  Thanks for letting us know and please keep us updated.  Irony is that we have to wire money to buy a currency created by a company trying to fix the problem.

[Marcel]

I think Bitstamp has a really high response time due heavy traffic at the moment. Verification time for a new account was a few month ago like a few hours. Now i know thru a friend that it takes sin some cases a few days. Deposits take usually like 3 Businessdays. I think you will have your money on your account tommorow. In your case i had directly canceled the withdraw yesterday to top up my stack.... But YOUR MONEY YOUR DECSIOssioN  Have a nice day   

[JennaB]

Thanks for this post.  Please keep us updated on any progress.  I believe that there are many people that are interested in the Bitstamp fiat withdrawal process using an international bank wire transfer.  Did Bitstamp ask you any questions (KYC type questions, origin of funds, etc) when you initiated the withdrawal?  

[guyincognito]

1 hour ago, JennaB said:

Thanks for this post.  Please keep us updated on any progress.  I believe that there are many people that are interested in the Bitstamp fiat withdrawal process using an international bank wire transfer.  Did Bitstamp ask you any questions (KYC type questions, origin of funds, etc) when you initiated the withdrawal?  

No plans to leave anytime soon but this is definitely something that would be nice to know. 

[Bitcoin]

So a bit of an update today. Got an email from bitstamp saying the money was re-deposited into my bitstamp account. Costed over 200 USD for that mess up. I have a reason to believe I should just wire to my bank instead of the intermediary bank.

Anyone from Canada have any experience with bitstamp? 

[RippleHerToShreds]

Not sure what you mean by "intermediary" but I think I am right in saying you can only send to an account in your name (ie not to a third party). This is standard AML law, as far as I know.

[jhollywood]

@Bitcoin any updates?

[Bitcoin]

58 minutes ago, jhollywood said:

@Bitcoin any updates?

Hi, still waiting on the wire. I've resent it through my my bank this time instead of the intermediary bank. This would be the 4th business day. 

[JennaB]

On 1/23/2018 at 10:46 PM, Bitcoin said:

Hi, still waiting on the wire. I've resent it through my my bank this time instead of the intermediary bank. This would be the 4th business day. 

Thanks for the update.  Please let us know if Bit.stamp OR your own bank asked any probing questions prior to releasing/processing the transaction.  Thanks.

[Bitcoin]

2 hours ago, JennaB said:

Thanks for the update.  Please let us know if Bit.stamp OR your own bank asked any probing questions prior to releasing/processing the transaction.  Thanks.

Hi, no odd questions from anyone. I just realized on the "withdrawl request" section it still says that my withdrawl is still "in process", however my last withdrawl request stated "finished" within 1 business day. Now it's almost the 6th business day and I do not believe they have even sent the money yet...

[Bitcoin]

Further update. Just received this from their support. Aparantley I need further kyc process to even get my own money!

 

MIHA VAHČIČ3 HOURS, 40 MINUTES
Dear Kevin, Thank you for using Bitstamp. Please note that your latest transaction will be processed as soon as possible and you will be notified via email once processing is concluded. In order to help us better understand the nature of your relationship with Bitstamp we require that an additional KYC (know your customer) procedure is completed so we can proceed with processing your future transactions. We kindly ask you to answer the following KYC questionnaire: 1. What is your current occupation? 2. What is your maximum total annual income in USD? 3. Please assess your current net worth in USD. 4. Please assess your yearly deposit sum (in USD and/or crypto). 5. Please assess your yearly withdrawal sum (in USD and/or crypto). 6. What is your intended activity? Investing/trading/arbitrage/cashing out/reselling…? 7. What is the source of your deposited funds (fiat and/or crypto)? Please describe how the funds were acquired. You are welcome to submit documentation supporting your statements (we accept PDF, JPG and PNG files). 8. Please state the number of bank accounts you will be using and provide bank addresses, SWIFT codes and bank account numbers. If you intend to use bank accounts outside your country of residence, or joint/sole proprietor/trust bank accounts, please clearly state so in a reply to this ticket, as further KYC information will be required. Thank you for your cooperation and we look forward to your reply. Best regards, Miha V.
 

[jhollywood]

On 1/26/2018 at 1:51 PM, Bitcoin said:

Further update. Just received this from their support. Aparantley I need further kyc process to even get my own money!

 

MIHA VAHČIČ3 HOURS, 40 MINUTES
Dear Kevin, Thank you for using Bitstamp. Please note that your latest transaction will be processed as soon as possible and you will be notified via email once processing is concluded. In order to help us better understand the nature of your relationship with Bitstamp we require that an additional KYC (know your customer) procedure is completed so we can proceed with processing your future transactions. We kindly ask you to answer the following KYC questionnaire: 1. What is your current occupation? 2. What is your maximum total annual income in USD? 3. Please assess your current net worth in USD. 4. Please assess your yearly deposit sum (in USD and/or crypto). 5. Please assess your yearly withdrawal sum (in USD and/or crypto). 6. What is your intended activity? Investing/trading/arbitrage/cashing out/reselling…? 7. What is the source of your deposited funds (fiat and/or crypto)? Please describe how the funds were acquired. You are welcome to submit documentation supporting your statements (we accept PDF, JPG and PNG files). 8. Please state the number of bank accounts you will be using and provide bank addresses, SWIFT codes and bank account numbers. If you intend to use bank accounts outside your country of residence, or joint/sole proprietor/trust bank accounts, please clearly state so in a reply to this ticket, as further KYC information will be required. Thank you for your cooperation and we look forward to your reply. Best regards, Miha V.
 

So you've already been verified (address, i.d., etc) and now they want all this?!  Frustrating!

[Bitcoin]

7 hours ago, jhollywood said:

So you've already been verified (address, i.d., etc) and now they want all this?!  Frustrating!

Indeed. I heard from some folks it could take as long as 2 months before my deposit makes it to the bank... I highly recommend using another exchange. Bitstamp is like the next mt gox. Read the sub Reddit form on bitstamp, nothing but mad people 

[jhollywood]

Did you get your $ out of bitstamp yet?