<p>Well, I just transferred $1000 AUD and received $987.38, which seems to correspond with a 1000 Yen receiving fee. Transfer was made mid morning Friday via HSBC and I had the funds by COB Tuesday, but apparently there was some delay because my account was not verified so they couldn't release the funds. Support was very helpful in sorting that out, but they really should mention on their website you need to be verified to deposit funds via wire.</p>

<p>I just noticed that they now have a local bank account (Technocash) to deposit in Australia, but it charges 3.95%. Given that HSBC charges $20 AUD to make a wire transfer, and MtGox's local bank charges 1000 Yen ($12) that works out to be about 3.2% on my transfer, so for anything less than $810 AUD it would be cheaper to do the direct bank deposit via Technocash.</p>

CC BY-SA 3.0
2012-08-21T10:46:49.323Z
2012-08-21T10:46:49.323Z
deltanine
<p>From the International Wire Transfers - Deposits section of <a href="https://support.mtgox.com/entries/20490576-withdrawals-and-deposits" rel="nofollow">MtGox's FAQ</a>:</p>

<blockquote>
  <p>Our bank charges a receiving fee of 1,000 Yen.  You can send wires in
  any currency to our bank in Japan. Funds sent in non-USD will either
  be added to your wallet in that currency if you have one, or converted
  to USD with a 2.5% exchange fee. Any fee charged by your bank or an
  intermediate bank will be deducted.</p>
  
  <p>If you plan to invest more than 50000 USD or equivalent on the long
  term in bitcoins, we need to know about you. In this case please use
  our verification system to get your account verified first. Submission
  of forged documents will result in declaration to the appropriate
  authorities.</p>
  
  <p>Not following the instructions written below can result in your funds
  being lost, or handed over to the local authorities while pending
  investigation.</p>
  
  <p>Also note that International deposits lower than 75 USD (or
  equivalent) typically result in only a small amount of funds being
  deposited into the receiving account or may be rejected because the
  amount of fees went over the amount of sent funds. This is due to
  intermediaries and banking fees.</p>
</blockquote>

<p>Google tells me that 1000JPY is worth about 12AUD.</p>

<p>There is a mention of another method "Technocash" having issues, which likely means it's no longer available. It also mentions that AurumXChange will soon accept Australian bank deposits (no mention of withdrawals, but you could hope!).</p>

CC BY-SA 3.0
2012-08-16T05:34:20.437Z
I think you have mistakenly quoted the fee for a withdrawl, because the "Funding Options" page says: "Funds sent in non-USD will either be added to your wallet in that currency if you have one, or converted to USD with a 2.5% exchange fee. Any fee charged by your bank or an intermediate bank will be deducted.  Our SMBC bank charges a 1,000 Yen receiving fee."
deltanine
CC BY-SA 3.0
2012-08-16T07:33:44.690Z
@deltanine, sorry, I misinterpreted the question initially, as this bit "to receive this wire transfer" made it sound like you were receiving funds. Re-reading it, it says the opposite. Hopefully my answer pointed you to the right place anyway!
Highly Irregular
CC BY-SA 3.0
2012-08-16T05:29:36.703Z
2012-08-16T07:31:25.207Z
2012-08-16T07:31:25.207Z
Highly Irregular
<p>I know my bank (HSBC) charges me $20 AUD to make a wire transfer. But how much is charged by MtGox to receive this wire transfer on say $1000 AUD?</p>

<p>I'm tossing up between cryptoxchange and MtGox - MyGox has better prices to buy bitcoins in AUD, but I have to know how much it will cost to send them my money. I can deposit $1000 AUS in cryptoxchange with no fees.</p>

CC BY-SA 3.0
2012-08-16T10:14:21.060Z
Are you withdrawing from Mt. Gox or depositing?  It isn't really clear.
Stephen Gornick
<mtgox><wire-transfers><exchange-fees>
What is the fee charged by MtGox to receive a wire transfer in AUD?
deltanine
# What is the fee charged by MtGox to receive a wire transfer in AUD?

(Asked by: username_0 on 2012-08-16)

I know my bank (HSBC) charges me $20 AUD to make a wire transfer. But how much is charged by MtGox to receive this wire transfer on say $1000 AUD?

I'm tossing up between cryptoxchange and MtGox - MyGox has better prices to buy bitcoins in AUD, but I have to know how much it will cost to send them my money. I can deposit $1000 AUS in cryptoxchange with no fees.

**Tags:** mtgox, wire-transfers, exchange-fees

> **Comments:**
> **username_1**: Are you withdrawing from Mt. Gox or depositing?  It isn't really clear.  

---

## 2 answers

### Answer by username_0 on 2012-08-21. Score: 0 | Accepted answer

Well, I just transferred $1000 AUD and received $987.38, which seems to correspond with a 1000 Yen receiving fee. Transfer was made mid morning Friday via HSBC and I had the funds by COB Tuesday, but apparently there was some delay because my account was not verified so they couldn't release the funds. Support was very helpful in sorting that out, but they really should mention on their website you need to be verified to deposit funds via wire.

I just noticed that they now have a local bank account (Technocash) to deposit in Australia, but it charges 3.95%. Given that HSBC charges $20 AUD to make a wire transfer, and MtGox's local bank charges 1000 Yen ($12) that works out to be about 3.2% on my transfer, so for anything less than $810 AUD it would be cheaper to do the direct bank deposit via Technocash.


---

### Answer by username_2 on 2012-08-16. Score: 0

From the International Wire Transfers - Deposits section of [MtGox's FAQ](https://support.mtgox.com/entries/20490576-withdrawals-and-deposits):

> Our bank charges a receiving fee of 1,000 Yen. You can send wires in
> any currency to our bank in Japan. Funds sent in non-USD will either
> be added to your wallet in that currency if you have one, or converted
> to USD with a 2.5% exchange fee. Any fee charged by your bank or an
> intermediate bank will be deducted.
>
> If you plan to invest more than 50000 USD or equivalent on the long
> term in bitcoins, we need to know about you. In this case please use
> our verification system to get your account verified first. Submission
> of forged documents will result in declaration to the appropriate
> authorities.
>
> Not following the instructions written below can result in your funds
> being lost, or handed over to the local authorities while pending
> investigation.
>
> Also note that International deposits lower than 75 USD (or
> equivalent) typically result in only a small amount of funds being
> deposited into the receiving account or may be rejected because the
> amount of fees went over the amount of sent funds. This is due to
> intermediaries and banking fees.

Google tells me that 1000JPY is worth about 12AUD.

There is a mention of another method "Technocash" having issues, which likely means it's no longer available. It also mentions that AurumXChange will soon accept Australian bank deposits (no mention of withdrawals, but you could hope!).

> **Comments:**
> **username_0**: I think you have mistakenly quoted the fee for a withdrawl, because the "Funding Options" page says: "Funds sent in non-USD will either be added to your wallet in that currency if you have one, or converted to USD with a 2.5% exchange fee. Any fee charged by your bank or an intermediate bank will be deducted.  Our SMBC bank charges a 1,000 Yen receiving fee."  
> **username_2**: @username_0, sorry, I misinterpreted the question initially, as this bit "to receive this wire transfer" made it sound like you were receiving funds. Re-reading it, it says the opposite. Hopefully my answer pointed you to the right place anyway!  

---

