I am curious to know others experience with how long it takes until they actual have received the funds into their accounts, whether bitcoin, paypal, or bank? I have sold a couple high value codes and really need the money to continue with more sales. Also in your experience which payout method is the fastest? I was told bitcoin was supposedly the fastest but it does not appear to be that way in my view… curious of others experiences. Thanks.
I deposit my earnings on here every week and it usually takes 1-2 days to process and my money is in the bank the following day. Super fast and easy! Haven’t used the paypal or bitcoin deposit options yet.
Alright Thanks @ModernRetro. I prefer bitcoin payments myself, althought when i requested a withdrawal using my bank I recall the process seemed much quicker, with the request being executed after only one day and that one additional day until the transfer appeared in my bank - so two days total. That’s a relatively quick turnaround and i’m able to flip, flip, flip, as the name implies. With my preferable Bitcoin payments however it seems the approval process is a little more strict and the first payment took 4 business days to receive. Thats 2x the duration compared to that of bank transfer which equates to a 50% reduction in sales for a capital strapped seller like myself. Alright well i am still open to hearing other users experiences to determine the quickest means of getting our funds… thanks for the input.
Bitcoin is generally stricter due to US regulations because crypto currency is not traceable. The government forces company to ensure no money laundering takes place when dealing with bitcoin.
AML/KYC requirements. Yes I am aware of such complications. This is partly the reason why I posed the question to begin with - given the fact that Gameflip customer service had responded that bitcoin was usually the quickest payment. However, myy experience has been contrasting to that idea, which led me to this forum inquiry.
Maybe i am just impatient but I am still waiting on my two Bitcoin payments - total processing time is currently 3 and half business days… One has a status of “Needs Approval” - which is a status that I have not seen before - and the other has just recently changed to read “in transit” after previously saying “pending” for the past 3 days. “In transit”, I had assumed meant that it would be in the process of sending… however a simple check of the public ledger on Blockchain.info using my approved Bitcoin wallet address shows that the transaction has yet to be initiated. To further investigate the situation, I have since contacted the buyer of both cards - which is the same person for both sales - and he expressed his full satisfaction and informed me that redemption of both had gone smoothly and has been executed fully, so the sale is fully completed, redeemed, and successful. Again, it is possible that I am just jumping the gun and I am sure the Gameflip team is very busy… but I am growing more and more uneasy with the situation as time continues to pass. Hopefully all is resolved soon - with both payments being sent to my approved Bitcoin address. One of the benefits that Bitcoin offers as opposed to bank transfers and fiat currency in general, is the relative speed and ease of transfers. Oftentimes from regulatory hurdles and other complications - the application doesn’t quite work as it could… Nonetheless, I will update this post as the situation unfolds…
Paid half of it - despite both withdrawals being submitted within minutes. So now 1/2 paid and 1/2 still unpaid which now has surpassed the maximum time frame of payment according to their FAQ and Bitcoin Withdrawal information which states 4 business days. We will be exceeding that timeframe it seems. More troubling is the fact that they sent my partial payment with a very low fee, I am presuming this to be entirely intentional - possibly retribution for opening ticket to question the process - but that’s merely speculation. Although given the fact that I’ve seen several of the mods discuss their knowledge of fees and one of them even posted a link to the site https://bitcoinfees.21.co which lays out exactly how long the delay would be. When I checked earlier, the transaction fee was 65 satoshis per byte, which at the time stated the block could be 0-84 block delay. If anyone isn’t familiar with what that means 84 blocks at approx 20 min per block puts the first confirmation at potentially 28 hours from the original send. This is troublesome on many levels and seems completely intentional and if that’s the case - it calls into question the judgement and temperament of those operating the site. They are making a killing for sure so I imagine it’s just a laughing matter to them however this type of behavior and presumed arrogance is potentially damaging when compounded over the long term outlook. Hopefully things improve in that regard but that remains to be seen.
I did receive one payment btw. The second appeared to have some technical issues… I cancelled it as a result and bought some gift cards instead. All seems to be well despite some hiccups along the way. Gameflip followed through with their word and kept in contact with me throughout the process.