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News: Information regarding Withdrawals

Bertha Bot

Bertha Bot

Entropia News Fetcher
Joined
Jul 26, 2006
Posts
3,316
Due to technical upgrades being implemented, the standard review and approval process for withdrawal requests is currently taking longer than normal.

In order to improve processing time for a withdrawal request, be sure that all relevant personal information on your account is accurate and up to date.

We are making every effort to process withdrawals as quickly as possible while ensuring the integrity of transactions within Entropia Universe. We appreciate your patience during this period.

Originally Posted Here
 
What technical upgrades? Couriers before the internet and electricity delivered money faster than MA. What possible "upgrade" can extend the withdrawal process even more? Maybe the real reason is that there simply isn't enough fresh money to handle withdrawals fast enough since everyone is profiting :unsure:
 
Bertha Bot said:
Due to technical upgrades being implemented, the standard review and approval process for withdrawal requests is currently taking longer than normal.

In order to improve processing time for a withdrawal request, be sure that all relevant personal information on your account is accurate and up to date.

We are making every effort to process withdrawals as quickly as possible while ensuring the integrity of transactions within Entropia Universe. We appreciate your patience during this period.

Originally Posted Here
Click to expand...


Do the 'technical upgrades' mean that in the future:

1. withdrawals will be automated rather then be executed manually?

2. MA is switching bank accounts?

3. withdrawal person's computer crashed?

4. there will be fast automated withdrawals without long delays, as in 10 days max?


please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...please say 4...
 
It has something to do with no dividend payed this year? Or mabey that you sold yours shares on Spotlight stock market for 4,8 SEK and now after just 3 months price went down to 3,1 SEK because investors noticed something? :D
 
Sulje said:
process is completely manual, what system could delay withdraw for a month?
Click to expand...

anti money laundering checks with the CIA etc. Why do you think they went there to talk many years ago?
 
Sulje said:
is that around the same time aliens abducted CEO ?
Click to expand...

dude, apparently contrary to you, I'm actually serious in my answers.
Do you even know how many anti money laundering laws there are on the international scene, in both gaming and crypto? You can't even accept US players in a game, gamble site or crypto if you don't allow the US authorities to meddle in...
 
I'm glad to see a statement has at least been made about this issue. Hopefully more information will be revealed with updates such as when they expect things to be "back to normal" and what these "technical upgrades" are and if they're going to lead to faster withdrawals.
 
Naomi said:
anti money laundering checks with the CIA etc. Why do you think they went there to talk many years ago?
Click to expand...
How come there is no such delay with any other services I've withdrawn from? With millions and millions of users, compared to the EU which has less than 5k active players and maybe 5-10% who actually withdraw from time to time and less than 1% who regularly withdraw?

Banks do money laundering processes, not MA- it is just a stupid excuse for liquidity purposes and to discourage players to withdraw near the weekend lol
 
allarom said:
How come there is no such delay with any other services I've withdrawn from? With millions and millions of users, compared to the EU which has less than 5k active players and maybe 5-10% who actually withdraw from time to time and less than 1% who regularly withdraw?

Banks do money laundering processes, not MA- it is just a stupid excuse for liquidity purposes and to discourage players to withdraw near the weekend lol
Click to expand...

Automation, advanced and more modern KYC may be the cause of this. These days with certain services you have to provide utility bills, real time photo of ID's, and even facial recognition.

But yes I agree, in these instant transaction modern days ... the 40-50day policy is kind'a lame.
Even if it is for liquidity purposes, I consider it outdated. A 2023's company needs to have enough liquidity to process near instant withdrawals at all times!
 
As pll recycle ped to boxes.. mindark would make decent money on withdraw fees If it was 5-10days. This 50day thing is year 2000 thing not year 2023. Its loong overdue to reduce that 50 working day thing.
 
Good to see a official wording.

Still worriyng that we get questionable replies as to reasons. Technical Upgrades does not hold a lot of context. As its very clearly stated that the process is a very manual one.


And if it would betechnicalities related to bank, or financial stuff other aspects would also be affected, mainly but not limited to Deposits would suddenly not be instant anymore either if it was a swap of banks, or vise versa.

Changing a person who left their position, would not really be a "technical upgrade".


Changing processes that are to be followed when doing withdrawls is again not really a "technical upgrade"

Again nice to see some wording on it but, you guys need to stop being so diffuse with your wording, i highly doubt there really isnt much more to it and people (myself included) are worried for things that likely are not the case, but at least wording it so that we dont end up with more questions would be a nice thing moving onwards.
 
As said in some other thread... normal (<3days) to fast (<1hour) withdrawals would incentivise me to deposit (and withdraw) more often. Opening boxes, doing investments etc etc.

With the current withdrawal system, many ppl, including myself, think 5x whether to deposit or not...
usually tending towards the not.
 
Can you elaborate if the technical upgrades involves the withdrawal system or i.e UE5 etc. It's kinda up to interpretation.

I also agree that in 2023, taking over 50 business days to make an withdraw is quite hard to make it work.
Think about it, if it was shorter, more people would deposit a lot more since they'd be able to take out their money faster if they have to. I know I only put in the amount of money I don't need in RL, but if say I could withdraw my money and get it in my bank account within 5-10 business days it would change how much I deposit for sure, you can add bigger withdrawal fees for faster withdrawals, regular withdrawals would take longer.

Maybe make a "trusted player" path for many successful withdrawals for each player with no issues with withdrawals up to a certain amount per month, so you could actually withdraw a certain amount per month with very fast withdraw and actually make it easier to make money from the game for those that are able to.
 
Iceman2003 said:
It has something to do with no dividend payed this year?
Click to expand...
If you mean no CLD payout's, the CLD's got turned into shares at a 1:100 split. The payouts for the new CLDT is in Entropia Exchange. Right click your PED card and go to Entropia Exchange.
 
Smells like some gov tax shit going on. And everyone little bit sane would work towards making withdrawals faster, not longer :D Definately would change people´s financial habits and volume.
 
Arja said:
If you mean no CLD payout's, the CLD's got turned into shares at a 1:100 split. The payouts for the new CLDT is in Entropia Exchange. Right click your PED card and go to Entropia Exchange.
Click to expand...
No, Im saying about divident that should be payed to shareholders. Here you have inof on spotlight:

News-article | Spotlight

spotlightstockmarket.com spotlightstockmarket.com

Its from CFO and also has infor about kicking out whole board xd
Dump it in any Translator.
 
Sub-Zero said:
Can you elaborate if the technical upgrades involves the withdrawal system or i.e UE5 etc. It's kinda up to interpretation.

I also agree that in 2023, taking over 50 business days to make an withdraw is quite hard to make it work.
Think about it, if it was shorter, more people would deposit a lot more since they'd be able to take out their money faster if they have to. I know I only put in the amount of money I don't need in RL, but if say I could withdraw my money and get it in my bank account within 5-10 business days it would change how much I deposit for sure, you can add bigger withdrawal fees for faster withdrawals, regular withdrawals would take longer.

Maybe make a "trusted player" path for many successful withdrawals for each player with no issues with withdrawals up to a certain amount per month, so you could actually withdraw a certain amount per month with very fast withdraw and actually make it easier to make money from the game for those that are able to.
Click to expand...

The game would be instantly dead in that case since they cannot afford the withdrawals once they remove the discouraging factor. And why only a certain amount and not all of my money that "I have" there?

You literally just suggested taking down the pyramid, but at the same time leaving every other stone in place just in case lol
 
allarom said:
The game would be instantly dead in that case since they cannot afford the withdrawals once they remove the discouraging factor. And why only a certain amount and not all of my money that "I have" there?

You literally just suggested taking down the pyramid, but at the same time leaving every other stone in place just in case lol
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If they aren't able to afford withdrawals without putting a 2 month delay, they need to manage their money better.
 
MA haven't shown the slightest bit of interest in repeated requests for being able to buy shop stuff via a larger bank transfer into a shop account and then buy as desired...
so improving the withdrawal side does seem unlikely. Here, however, it is about trying to hold them to even the 50 business days, which may or may not be due to a technical reason. As we pay to withdraw, though, they should up the number of hours worked if there is any backlog beyond this already outdated amount of time.
I also agree with other recent comments that bringing the time down reliably would build up more flexibility with deposits too. Going in the wrong direction should not by acceptable even for MA.
 
Can I request withdrawal request not to bank but web shop ?
So i can buy refill packs and keys ?

If bank withdrawal having issues i can take this option :D
 
MikeH said:
Can I request withdrawal request not to bank but web shop ?
So i can buy refill packs and keys ?

If bank withdrawal having issues i can take this option :D
Click to expand...

Even better idea! Let us buy webshop stuff with PED directly!! It IS a REAL cash economy right???????
 
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