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I just withdrew around EUR 940 from my MtGox account and transferred it to an account in a European bank that does not charge anything for incoming international transfers.

MtGox charged me a bit over EUR 40 for making this direct transaction from their Japanese bank. I'm a verified user.

Maybe it's my lack of experience with them, but I feel this is little short of robbery. 40 euros? Anybody has a similar experience?

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  • I guess you chose the wrong withdraw method, you should have selected "SEPA transfer" and you did select international transfer, instead?
    – o0'.
    Commented Apr 25, 2013 at 9:46
  • but right now a sepa withdrawal can take up to 2 weeks, see the mtgox press release : mtgox.com/pdf/20130424_ddos_statement_and_faq.pdf
    – neofutur
    Commented Apr 25, 2013 at 20:59
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    I d suggest to rename the title to something like "hidden fees on international withdrawal from mtgox" , could help people find their answer easily in the future , and more accurate imho
    – neofutur
    Commented Apr 25, 2013 at 21:17
  • @neofutur mmh, I asked for a transfer 15/4 and received it 17/4.
    – o0'.
    Commented Apr 26, 2013 at 6:28
  • yes international transfers can be fast
    – neofutur
    Commented Apr 28, 2013 at 9:32

1 Answer 1

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If you used the japanese bank its not a european transfer, but an international wire, and intermediate banks took their share on those fees.

I often say "with international wire, expect to loose 2-8% on random intermediate bank fees", sorry to tell you that but, thats the traditional obsolete banking system of the real world.

Afaik the mtgox fee for that is more or less 15.46 euro,you probably had around 25 more euros on "intermediate bank fees", ask for more info to your bank about international wires.

Actually receiving 900 for 940 sent is not so bad for an international transfer, be happy I seen worst ;)

Also, even with those "intermediate" added fees, it could be worth it when all other withdrawal options are delayed, like sepa or okpay taking 1-2 weeks .

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  • Correct but it should mention SEPA transfers ;)
    – o0'.
    Commented Apr 25, 2013 at 9:46
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    I added a comment about sepa and okpay situation.
    – neofutur
    Commented Apr 25, 2013 at 21:03
  • @neofutur, but did MtGox specifically say how much percent of the transfer it is pocketing? Is the pocketing cost fixed, or is it greater for greater amounts?
    – Pacerier
    Commented May 1, 2013 at 0:48
  • afaik its not a percent, but a fixed fee around 15 eur, everything else is pocketed by intermediate banks
    – neofutur
    Commented May 2, 2013 at 1:52

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