Date Received: 2017-11-07
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I sent a Wire Transfer on XXXX XXXX, 2017 in the sum of {$5000.00} to Coinbase and received this email the following day : " XXXX replied : Hi there, This email is regarding a wire that was sent to your Coinbase account. Unfortunately it appears that the legal name on the wire we received is the name of your bank. Please work with your bank to correct this. In order to wire funds to us, the name on the wire must match the name on the Coinbase account. Because of this we will be returning the wire, and the funds should arrive in your bank account within a 3-5 business days. Moving forward, please wire funds from a personal bank account held in your name to avoid any wire processing delays. Thanks for choosing Coinbase! '' It was stated that the funds will arrive back to me within 3-5 days, but as of today I have not received the fund back in my account. There is no reply when contacting support or any information as to where the money has gone. It is a fraud that this company is able to withhold money indefinitely without providing any means of contacting someone who is able to correct the issue. The coinbase case number that was provided to me is : XXXX
Company Response:
State: CA
Zip: 91755
Submitted Via: Web
Date Sent: 2017-11-07
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-06
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX, 2017 sent by wire transfer $XXXXX to Coinbase's bank, XXXXXXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX NY XXXX. I printed the Deposit USD form with all the appropriate information, took it to my banks so that they could perform the wire transfer. I have this form in my possession as well as receipt from the bank documenting the transaction. I have in my possession the Fed IMAD wire number that documents this transaction. I provided this to Coinbase. My legal name on the bank account matches my legal name given to Coinbase. In Coinbase's instructions on their website, I was assured that this was the fastest way to fund my account and that funds would be credited when received. Four days later, after numerous attempts to contact their Customer Service department by their web form and by telephone call, the only information that I can get is that my case has been "escalated" and that I should here from a "specialist" in the coming WEEKS! Yes, weeks. The following information is currently posted on their Customer Service page in reference to my issue: "XXXX XXXX
Company Response:
State: SC
Zip: 29205
Submitted Via: Web
Date Sent: 2017-11-06
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-03
Issue: Closing an account
Subissue: Company closed your account
Consumer Complaint: Hello I was just logged in to my CoinBase account at my XXXX vacation. CoinBase Auto Ban-Ip system banned my account suddenly. I just wanted to check my balance and to see charts and whats going on. It has been 2 months that i reached them about this case and i sent them all of my proof documents ( PASSPORT, Driver License, Bank Account Payments ) but i didnt get any results. Im still waiting for ID verification but i still dont get any response from www.coinbase.com.
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-03
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: This money wire/digital wallet company forces users to provide all their personal and bank info e.g. Social Security #, DOB, account & credit card numbers etc. All of which they claim is used to " verify '' your identity. However, they are now using unethical delay tactics with no rhyme or reason to prevent users from trading in their Bitcoin ( digital currencies ) into dollars. One of those tactics is locking people outside their accounts by claiming the system does not recognize their devices. This happened to me except I know for a fact I have used the same computer to login countless times with no problem until now ; ever since the price of Bitcoin has risen ( today : XXXX XXXX 2017 ).
Company Response:
State: CA
Zip: 902XX
Submitted Via: Web
Date Sent: 2017-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-02
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Hi there, I hope you will be able to help. My issue is that Coinbase is not processing my Successful SEPA transfer sent since theXX/XX/XXXXfrom my XXXX account to their account. My escalation support ID is : Case ID : XXXX In total I have sent 4 transfers. The first one was aimed at obtaining the validation of my account. Which did not happen without apparent reason. Here my XXXX was sent but their service is for no apparent not validating my account but still enjoying keeping my fund in their bank account. Then I sent three additional transfer as per below : 1 ) Validation of account : Date : Sent on the XX/XX/XXXX Amount XXXX GBP/EUR XXXX Received the XXXX/XXXX/XXXX on their side. REF : XXXX 2 ) Date Sent XXXX Amount : XXXX EUR/ XXXX GBP Ref : XXXX 3 ) Date Sent XXXX Amount : XXXX EUR/ XXXX Ref : XXXX Please Note that the above ref was wrong. It should have been XXXX As a result I asked Coinbase to match this transfer with my account ASAP. Indeed their FAQ explained that in the event a customer send a XXXX fund to their bank account with a wrong or missing ref. They will match it to the user by correlating the IBAN number of the user. 4 ) Date Sent XXXX Amount : XXXX EUR// XXXX GBP Ref : XXXX The money I have sent was successful received by them. As per confirmation of my bank. However the total of EUR XXXX has still not been loaded to MY EURO wallet under my customer reference. This is an issue as my fund can not be utilised to buy BITcoin. This led to a loss in investment value of more than USD 1000 I have raised multiple support ticket and called their support line but they are not helping nor giving honest response. They are saying they have not received anything ... For example they said that my XXXX where not received because They have not validated my account prior to that. This is absurd and a LIE as XXXX have validated that my transfer was succesfully received by their bank. Futhermore the validation is irrelevant. Indeed my colleague XXXX XXXX XXXX have sent a tranfer of XXXX by XXXX to their same account and they have put the money to his account. Here his account had never been validated prior the XXXX being sent, yet was still received and loaded to his EURO wallet successfully. Weirdly when the some is Eur XXXX things miraculously disappear ... In any vent they have admitted that they failed to action my sepa but are not providing any resolution and are still keeping a Total of EUR XXXX held in their account. Every time I attempted to call them. I had to wait an average of 50min on the line, very often you ca n't get through to anyone and when you do. The call will drop. They will escalate the call to a specialist which can not and is not allowed to answer any meaningful question about whether or not they did they receive my Transfers where are them, when will the be loaded so that I can finalise my BTC transaction.. I have research multiple forum and it seems that a lot of users are complaining that their fund are being held hostage when large amount are being sent.. After days of calling I seems I am getting nowhere. Please help. Kindest Regards, XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2017-11-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX XXXX 2017, I sent a wire to coinbase for {$12000.00} Usd. It has been 2 months, and I still do not see the money in my coinbase account, nor has it reversed to my bank. I have sent several help inquiries on their website and have never received a reply. Please may I have the money sent back to my bank or put in my coinbase account. It has been floating for 2 months.
Company Response:
State: KS
Zip: 664XX
Submitted Via: Web
Date Sent: 2017-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: On XXXX XXXX XXXX Coinbase closed my personal and business accounts with them. While my business account had a zero balance, my personal account had a balance of XXXX. I followed the on-screen instructions to have these funds returned to my bank account but after submitting the form their website displays the following error message : 'Subtotal ca n't be blank. Subtotal is not a number. Total ca n't be blank. Btc ca n't be blank. Payment method ca n't be blank '. I emailed the company on XXXX XXXX XXXX and received a reply on XXXX XXXX XXXX stating they would investigate. All further emails have resulted in a template reply or no response at all. Their site is still broken and I still can not retrieve my funds.
Company Response:
State: CA
Zip: 941XX
Submitted Via: Web
Date Sent: 2017-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-02
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XXXX the XXXX I have transferred an amount of XXXX XXXX via wire transfer. As stated on The company web site ( coinbase.com ) the wire transfer should take 1-2 days to be shown on the wallet. I have sent several emails and made many phone calls to customer service. I was told that my case has been escalated and it should take 48-72 to hear back. but nothing happened. on my last call with customer service they refused to give me a time frame to solve my issue. Yesterday I received an email from Coinbase saying that they are sad to received a request from me that I want to close my account, Which I never did At this point I have lost nearly XXXX, as the price of the XXXX is going up everyday and I am not able to use other company service since my money is blocked with Coinbase.
Company Response:
State: IL
Zip: 620XX
Submitted Via: Web
Date Sent: 2017-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-02
Issue: Money was not available when promised
Subissue:
Consumer Complaint: Hello, I initiated a wire transfer from my U.S. based bank last Thursday ( XX/XX/XXXX ) and received confirmation that it was successful on Friday, XX/XX/XXXX. The reason I initiated the wire transfer is because I thought it would Be faster according to the coinbase website. However it 's taken just as long as an ACH transfer Would have taken ( although funds are still not in my account ). When I called about this initially on Monday I thought I had given plenty of time, and the institution rep also agreed. She stated that she saw the funds but would need someone in processing to " manually '' place in my account. I asked for a transfer number and she stated that once I reported the ticket, I could not call in to speak with anyone, and that my only recourse is to contact them via email. That 's fine, however they do n't respond back to emails for several days at a time. Unfortunately, this has cost me more money then I transferred due to the changes in Bitcoin prices. The company is called coinbase and they are under federal regulations, but this financial institution has processes in place to directly prevent customers/clients from being able to speak to someone. While they have my money they are collecting interest on funds that should be in my possession. Unfortunately, I learned of this companies inability to cope with their current customer demand too late and have now suffered a fate of uncertain action. Maybe I 'll get my money? Maybe I wo n't? But this company would rather not deal with customer complaints. This was a u.s. to u.s. wire transfer with a successful confirmation number. Is it legal for a company to hold your wired funds for a long period of time that they determine? Is it legal to put processes in place that prevent contact by customers/clients? There are thousands of complaints against this company for holding customer funds for no reason. Please investigate this firm!
Company Response:
State: FL
Zip: 337XX
Submitted Via: Web
Date Sent: 2017-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2017-11-02
Issue: Wrong amount charged or received
Subissue:
Consumer Complaint: This is the last of dozens of emails I sent to Coinbase about my issue. Hello XXXX, Thanks for the response. My account has not been secure at all on coinbase. I have been on customer support longer than coinbase itself because I have had grave concerns about its security. Last month I made a {$2000.00} bitcoin purchase. I was double charged for that purchase. Then I was charged another 2 payments for {$2000.00} each so Coinbase illicitly charged me {$6000.00}. I called customer support and asked that the those charged be wiped out. I was given a {$4000.00} credit reversal and now Coinbase and I are square. However, I was given another {$4000.00} of refund from Coinbase because from what I read on your support site, this was a widespread issue. Now I am up {$2000.00}. There is an attachment of my bank statement that proves that I was paid 4 payments {$2000.00} and they are differently labeled to suggest one batch of 2 payments was a result of my phone call and the other the natural repayment of what I assume is a group of customers who had the same issue. Now, I had already told my bank not to permit Coinbase from withdrawing money from my account, which I was absolutely in the right to do as I was improperly charged three times, so instead of Coinbase just contacting me and asking me to deposit in the account, I lost half a bitcoin, which, as my asset, has cost me far more than {$2000.00}. While monetarily we are even now, the issue here, XXXX, is that due to this whole issue with Coinbase making a slew of errors, I have lose my bitcoin. What I have been fervently pushing, is permission to repurchase that exact amount of bitcoin for {$2000.00} cash, effectively renege that last transaction, since this was all a series of errors from Coinbase. I should be asking for additional compensation due to the slew of issues of time and absolute pain in the XXXX this was, but all I want to do is restore the status quo. Additionally, you may seen from my bank account that I work for XXXX, a leader in cyber security, so you can believe that there is nothing I take more seriously that the security of my money and my cyber-assets like bitcoin. My assets which have been violated 4 times now, 3 times with improper {$2000.00} chargers, as well as the 4th time in taking my asset which is far more valuable as an investment. I look forward to hearing from you to get this resolved- this has taken weeks to sort out and I hope that it can conclude soon. Thanks, XXXX
Company Response:
State: IL
Zip: 60610
Submitted Via: Web
Date Sent: 2017-11-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A