Lengthy Withdrawal Process

Entropia Universe Economy Deposits & Withdrawals
1

On my last set of withdrawals, I set my personal “best” for longest time from request to commit at 63 calendar days (46 business days). I am posting now, since I have very unfortunately broken that record with my current set of withdrawals. I have 7 withdrawals pending, and all of them have now been pending for more than 30 business days. In calendar days, I have been waiting 67 days, 62, 60, 57, 56, 54, and 44 days respectively, and in business days, I have been waiting 49 days, 45, 44, 42, 41, 39, and 33 days respectively.

Come on MA, please get your act together and instill some confidence in the deposit/withdrawal process. IMHO it will ultimately pay you dividends, as I know I will personally be thinking twice about future deposits when I know it could take me (approaching) 2 and a half months to regain access to the money if I need it.

Update: Today, MA committed all seven of my pending withdrawals. The calendar days from request to committal were: 74, 69, 67, 64, 63, 61, and 51 and the business days were: 54, 50, 49, 47, 46, 44, and 38.

Thanks MA for honoring every legit withdrawal as you always have for me. Now just please work on your internal business processes (or cash flow situation) to get to the point where these only take something like 7-10 business days instead of 5 times that long. You would reap large dividends in large depositor confidence.

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I sold most of my equipment and cashed out on 5/21/11 for this very reason. Taking 2 months to receive my own money does not instill confidence that my money is safe. I used to play online poker professionally and bank wires from my favorite site pokerstars would be in my account within 2-3 days. This was even with all the hoops and hurdles they had to overcome to find a processor in the US that would work with them after UIGEA was passed.

MindArk has none of these hoops and hurdles to overcome. Cash outs take this long because, A) MindArk is financially unstable, or B) A long withdrawal time discourages cashouts. People are less likely to withdraw money when they know they probably won’t be seeing it for quite some time. Might as well try to hit an All Time HOF and then cashout. Which usually in turn means the player ends up giving it all back.

I started playing this game right after it went gold. Every new update a new system is implemented to try and take the players money faster and faster. It’s so sick these days. You can actually lose $50 a month hunting bottom feeder creatures with economical gear if you play enough hours. It never used to be this way. That is why I have hardly played much the past 3 years.

I guess what I’m trying to say is this. If MindArk is going to try and suck the players deposits into their pockets as quick as they possibly can they could at least have the professionalism to withdraw PLAYERS funds to them in a timely manner like 99% of legitimate businesses do on a daily basis. Until this is the case I will never deposit again. Every now and then I’ll log in and get my fix swunting puny’s outside PA.

p.s. still waiting on my withdrawal (45 Calendar days)

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Yep, usually this would be the case of it being your first withdrawal like it was for mine, thats what I heard anyway from people the first is always the longest, but it doesnt seem to be the case anymore this year. I pretty much waited 8 weeks for the money to appear in my account. On the 6th week I sent a support case asking why its taking so long 2 weeks later I got it committed. I’am very seriously thinking about selling everything I have and never depositing ever again. To be honest I have not deposited into this game since the new year & I’m still hunting like a mad man on denge fever.

But I still have a lot of gear I could cash out if I wanted to, or just blow it all & never come back again or just keep on cycling for as long as possible. Not sure what to do but I like hunting as of now, so time will tell. I doubt I’ll ever quit but that doesnt apply to my depositing as I dont intend or do deposit anything into EU now. Just waiting to see withdrawals taking at least 3 months before people start to panick.

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Whats the point in making 7 withdrawals, one every 3 days? You wanted to keep them busy? Or do you just love to pay fees?

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My first withdraw this year was fairly fast…the second withdraw…well its been much longer. Luckily I am not planning anymore this year but its a bit of a worry its taking as long as it is. Makes me wonder if I should quicken my liquidation pace :scratch:

6

Maybe Kim|AskMindArk in Entropia Forum should be able to answer why the withdrawal process takes so long? It’s not a secret or a question that they can’t answer. A simple response of, we have one person processing 200 claims a day might be the answer, or that they only do banking once a month?

7

Here is a possible answer for you:

one can only withdraw as fast as money are deposited by others during the same time frame.

nowadays more withdrawals than deposits are made.

therefore takes longer and longer for MA to have enough money to wire.

8

I was just withdrawing as I sold items and my card reached a certain amount. I knew from previous withdrawals that the process was getting longer, and I didn’t know when my next sizable sale would be each time, so the plan was to get the lengthy process started and start seeing some money instead of just doing one withdrawal weeks down the road…and it’s not like we’re talking about withdrawals below $1k here…

However, it appears that MA is now batching withdrawals together, unlike what I had previously experienced. It looks like these will probably come in one wire transfer like I experienced recently.

9

Im selling out for personal reasons Dome, DOA, and my taxes for 8 months and i need the money in 2 months maximum if that not happen maybe i gonna be in troubles in RL…

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Probably they have cash issues and must slow down the speed of payment. And people most understand, you can’t compare having peds in EU with RL money on an account, not in the current set up that MA have anyway. I hope they change that in the future, but it will be a long way to that.

11

I’m on biz day 50 now when they state 30 biz day limit on their website.

It’s an absolute disgrace, and the only conclusion I can make is that they don’t have the money (either to pay the withdrawals or to hire extra staff). I hope my conclusion is wrong, but if it is they need to sort this out asap or more players will lose confidence and that will lead to them not having enough money.

12

MA’s witghdrawel time are ridicoulos! Especially because they state one thing but do another..

Money out of the game, is one thing that holds game back imo.

13

I commenced a withdrawal 63 calendar days ago and still waiting ;(
(45 business days)

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Update:

My withdrawals are now 51, 47, 46, 44, 43, 41, and 35 business days or 71, 66, 64, 61, 60, 58, and 48 calendar days old!

15

They are on holiday now!

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50+ bussines days?..this start to scare me now:eyecrazy:

17

Tbh I had the idea that currency inside Entropia should be easily withdrawn to your real life earthbound bank account or w/e they say in each and every trailer of Entropia…

Seeing that the cash takes months to withdraw just isn’t too encouraging…

18

Registered on April 25, so 77 calendar days for me. And still pending. Getting close to 3 months ) Anyone else from April?

It took less than a calendar month back in February, so clearly something happened there during spring/early summer.

19

I’m really not too “scared,” more just frustrated, since I had timed the money (with what I thought was plenty of extra time) for our family move. My last withdrawal came through just fine on 2 June. On that withdrawal, it was only slightly faster than this one at 46, 41, 39, 36, 35, 22, and 21 business days or 63, 56, 54, 50, 48, 31, and 30 calendar days. As you can see, on that one they lumped a number of withdrawals together and did one bank transfer, so some of those withdrawals were actually under 30 business days.

20

Ahhhh the egg

I got it.

Whoever is in charge of processing withdrawals at MindArk must be trapped inside the Atrox Egg…

AHHHHHH THE WITHDRAWALS!

But seriously… This is not giving me much confidence about the “real cash economy” of the Entropia Universe. All of those peds on my card don’t mean squat unless I can cash them out like MA promised… maybe i should just be playing WoW.