Quote from: escrow.ms on July 19, 2013, 12:02:15 PM

Quote from: assortmentofsorts on July 19, 2013, 11:53:47 AM

Quote from: escrow.ms on July 19, 2013, 10:45:01 AM

Indian can do trading on mtgox and other trading sites, there's no resctriction about that, main problem is you can't deposit/withdraw fiat easily as international bank wire fees is quite high.

Do you have an idea about the kind of fees for wire transfers? I'm asking coz I'm finishing with an app which accepts only cryptos (Bitcoin, Litecoin etc) and I want to withdraw after a certain threshold. But I have no idea about the wire fees (I have HDFC/Axis bank accounts). If the fees are too high, then I can withdraw in big chunks rather than withdrawing for each transaction.

"Withdrawals
Wire transfers are currently taking up to 1 week to process due to the volume of withdrawal requests in queue.

If your withdrawal is larger than 10,000 USD (equivalent), it will take at least 2 weeks to process.

Withdrawals typically take 2-5 full business days to reach your bank, provided that you have included all required information such as your full name and address as it appears on your bank statement.

Mizuho bank charges a fee of 2,000 Yen for the withdrawals."

https://support.mtgox.com/entries/21649594-Withdrawals-and-Deposits

2000 YEN is around 20$ now.

Hey thanks for the info.

2-5 Business days and 20$ per transfer? Sucks! I'm using BIPS ( disclaimer: referral link Wink

) for processing payments. They charge a flat fee of 7.5USD for wire transfer, which is okay I guess (since i'll only be withdrawing after a certain threshold). But I'm more worried about fees that i'll need to pay to my bank (Axis/HDFC). Any idea on that?