Date Received: 2018-02-03
Issue: Other transaction problem
Subissue:
Consumer Complaint: Coinbase has {$4500.00} of my money more than a month after they said they returned it. On XX/XX/XXXX I wire transferred {$4500.00} from my bank to my XXXX account at Coinbase, who said on XX/XX/XXXX the wire was rejected and would be returned because of a name mismatch. I hadn't received the money by XX/XX/XXXX so I filed a complaint with the CFPB. On XX/XX/XXXX, exactly 15 days later, Coinbase told CFPB that the money was returned on XX/XX/XXXX and that the case was resolved. Further, Coinbase told me and the CFPB that I should ask my bank where the money was and they provided a FED reference number. My bank could not find the money and said that I should ask Coinbase to trace it.
Company Response:
State: FL
Zip: 34601
Submitted Via: Web
Date Sent: 2018-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-02
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I bought. XXXX bitcoin in XX/XX/XXXX and used coinbase as my wallet. InXX/XX/XXXX, I realized how much money that was and tried to log back in to sell part of my bitcoin. Unfortunately, the email that I used was one I had just lost access to earlier that month. I emailed coinbase support on XX/XX/XXXX after taking all of the steps necessary to regain access to my funds ( set up new account, verified identity, linked same bank account, etc ). On XX/XX/XXXX I got an generic automated email back that did not at all acknowledge that I had already specified it was a 'priority issue ' so I emailed them back all of my information again. On XX/XX/XXXX I received an email that they were working with a 'specialist ' to finalize the transfer and that they would follow up as soon as the transfer was complete or if they had any other questions. I emailed them on XX/XX/XXXX to check for an update because I still had no money. It is now XX/XX/XXXX and I have heard nothing and still have no access to my money. From the moment I contacted them 5 weeks ago, I have watched my money diminish. I feel like I'm being intentionally made to wait and wait until my bitcoin is worth a fraction of what it was when I first contacted them.
Company Response:
State: IA
Zip: 503XX
Submitted Via: Web
Date Sent: 2018-02-03
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: - Company : CoinBase - Website : www.CoinBase.com - Contacted company : Yes ( Unresolved ) - Emailed and called numerous times - Date Occurred : Approximy XX/XX/XXXX* - Problem : I bought XXXX LTC on XX/XX/XXXX. On the ninth day of the transfer, I got noticed that my transaction was canceled for an unknown reason. Since then, I lost full access to my cryptocurrency wallet. Respectfully, CFPB User
Company Response:
State: CA
Zip: 92880
Submitted Via: Web
Date Sent: 2018-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: I've been a customer of Coinbase.com for about 1 year. On XX/XX/XXXX our bank sent them a wire transfer of {$200000.00} USD. IMAD # : XXXX XXXX On XX/XX/XXXX Coinbase sent us an email which read " You recently sent a wire to fund your Coinbase or XXXX account for {$200000.00}. Unfortunately, we are not able to apply this wire to your account due to a name mismatch and will be returning this wire back to your bank. Please allow us 7 business days for processing ... '' see attached We sent them an email on XX/XX/XXXX and all we received was a robot response. see attached Today XX/XX/XXXX I went online to see if there were others having this problem with Coinbase and yes there were many. According to the others the best way to resolve their issue with Coinbase was with the CFPB.
Company Response:
State: IA
Zip: 520XX
Submitted Via: Web
Date Sent: 2018-02-08
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-02
Issue: Money was not available when promised
Subissue:
Consumer Complaint: I sent a wire transfer on XX/XX/XXXX from my bank to : CoinbaseCoinbase, XXXX XXXX XXXX XXXX, # XXXX, XXXX XXXX, CA XXXX Bank Name XXXX XXXX XXXX Bank Address XXXX XXXX XXXX XXXX Fl XXXX XXXX, NY XXXX XXXX. After sending the transfer, I noticed that it said to send with personal name and not a business name. The bank was not sure if they sent it with my personal name or business name but finally decided that they sent it using my personal name, which should of been correct. I sent an email to Coinbase to clarify the issue and make sure that if it was sent in my name that it shouldnt be a problem to deposit into my account. If it was in my business name, to just cancel and send back to my bank. I received an email finally on XX/XX/XXXX with a case number and the standard they are working on it. The case number is # XXXX. I responded letting them know to please cancel the transfer and just send back to my bank. I have not heard back from them in 2 weeks. I just want the transfer canceled on their end and sent back to my bank.
Company Response:
State: OK
Zip: 738XX
Submitted Via: Web
Date Sent: 2018-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-02
Issue: Money was not available when promised
Subissue:
Consumer Complaint: XX/XX/XXXX : I lost access to my account thanks to the 2FA and I was advised by coinbase support to open a new account for the funds to be transferred from my new account. Please see request below : Hi I've lost my phone number as well as the authenticator. I no longer have the authenticator seed to use the authenticator app on IOS manually. Please help. Thanks XX/XX/XXXX : Please see Reply from coinbase support : Hello there, Thank you for contacting Coinbase support. Im sorry for the trouble youre having accessing your Coinbase account. To help get you access to your funds, it will be necessary to create a new Coinbase account using a different email address at https : //www.coinbase.comXXXX, and proceed with the following steps : 1 ) Add and verify a phone number 2 ) Complete the ID verification for your new account at https : //www.coinbase.comXXXX XXXX Once completed, these steps will help verify your ownership of the previous account. Let me know when youve finished these steps, and once we complete a review of the information, we can look to transfer the balance from the inaccessible account to your new one. If you have any questions or encounter trouble in the meantime, please feel free to send me a message and I will be happy to look into it. For more info or question please visit our support website : https : //support.coinbase.com to find the best answer real quick. Thank you for using Coinbase. Kind regards, XXXX XXXX / Coinbase Support Representative XX/XX/XXXX : Replied with the required information. Please see my reply below : Hi Ive now completed the account opening and verification. Please proceed to do the needful. Also please restore the buying limits and payment methods as per my previous account. Kind regards XX/XX/XXXX : Coinbase replies promising to complete the task within 4 to 5 working days. See email reply below Hello again, Thank you for completing the account verification. I have escalated your request for a limit increase to our specialists. We do our best to complete all account reviews within 4-5 business days, though this may sometimes take longer depending on the case volume were experiencing. Limits are calculated by our automated system, which is something were constantly working on improving. Limits are adjusted dynamically by an algorithm using only the information available to us at the time. This sometimes results in temporary limit decreases for our good customers. We have these limits in place due to the irreversible nature of digital currency payments. Coinbase is a large target for scammers using stolen bank accounts, cards, etc., so we have to put in these types of measures to protect our company and the community. Improving this aspect of our product is a top priority for us, and Im sorry that your account was affected by this. If your limits are increased, you will receive a separate email notification of the change. I hope this helps explain our limits structure. Please know that we very much appreciate your patience with us while we review your account. For more info or question please visit our support website : https : //support.coinbase.com to find the best answer real quick. Thank you for using Coinbase. Kind regards, XXXX XXXX / Coinbase Support Representative XX/XX/XXXX : reply from Coinbase asking for my old account to complete the transfer. please see email from coinbase below : Hi again, In regard to your balance transfer from your old account to new account, may I have you old email address please so I can do the proper escalations for your funds to be transferred. Thanks. Kind regards, XXXX XXXX / Coinbase Support Representative. XX/XX/XXXX : I responded with the require details and got the following reply from coinbase : bare in mind I had originally replied to the email address XXXX Thank you for contacting Coinbase. In an effort to more quickly respond to requests, directly emailing XXXX is no longer enabled. To get a response from our support team, please visit the following page and complete the request form : https : //support.coinbase.comXXXX Please use the email address that you use to log in to Coinbase, select the appropriate category, and include as much detail as possible when submitting your request. Thanks in advance for your patience and support. XX/XX/XXXX : Got the following email from Coinbase : The XXXX email address is no longer monitored. The Coinbase Support team will ONLY be able to respond if you submit a request via our support portal : https : //support.coinbase.comXXXX Please use the email address that you use to log in to Coinbase, select the appropriate category, and include as much detail as possible when submitting your request. Thanks in advance for your patience and support XX/XX/XXXX : After getting no reply from Coinbase I was forced to raise a new ticket regarding the same issue. XX/XX/XXXX : Provider details of my old and new account to help with the transfer of balances. XX/XX/XXXX : Followed up with another email providing the two ticket numbers I had raised to resolve this issue XX/XX/XXXX : Got no reply from Coinbase and I had to send another chaser XX/XX/XXXX : Reply from coinbase claiming to has escalated the issue to a specialist although no SLA or ETA was provided XX/XX/XXXX : Chased for an update or confirmation and when my request to sort out my balance transfer issues will be completed XX/XX/XXXX : Could get hold of any support staff after waiting on hold for more than two hours. XX/XX/XXXX : Raised another ticket out of frustration to get Coinbase to response to my issue. XX/XX/XXXX : Got the following response from coinbase support Please see below : Hi there, Im working with a specialist to review and finalize your balance transfer. We will follow-up as soon as the transfer is complete, or if we have any further questions. No further action is required on your part at this time. Please note, we are experiencing tremendous support volume that may delay response times. For fastest response time, please do not send more than one email response. Thank you in advance for your understanding and patience. Thank you for your patience in the meantime! Warm regards, XXXX Coinbase Support XX/XX/XXXX : Replied providing the requested information to help my issue XX/XX/XXXX : Got the same old reply claiming the issue has been escalated to a specialist. By my count this is the second time coinbase has escalated the issue and still no resolution. XX/XX/XXXX : finally got hold of the customer support and they could confirm the status of my ticket number nor could they confirm when this was going to be resolved. XX/XX/XXXX : Still no resolution and I'm not sure when coinbase will resolve this issue
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-02
Issue: Fraud or scam
Subissue:
Consumer Complaint: Coinbase locked me out of my account for more than a month and does not allow me to even close the account. I opened Coinbase account on XX/XX/XXXX, and bought total of {$6000.00} bitcoin. Then in XX/XX/XXXX, Coinbase started requesting additional authentication by first requesting the photos of my driver license. I tried more than a dozen times over the next several weeks to do this with no success. Ive been locked out of my own account ever since. Then it requested the XXXX authentication, which still didnt work even if I again tried for many weeks at different times until now. My XXXX authentication works well everywhere else. I have sent many complaining e-mails during the past month but received only what appeared to be a computer generated generic responses. Frustrated and suspicious, I have demanded that Coinbase simply close my account and return the balance but Coinbase wouldn't even allow this by saying that I need to log in and close the account myself. How can I do this when the very reason I want to close the account is the inability to log in? Please help me. Thank you!
Company Response:
State: NY
Zip: 10022
Submitted Via: Web
Date Sent: 2018-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-02
Issue: Managing, opening, or closing your mobile wallet account
Subissue:
Consumer Complaint: Since XX/XX/XXXX, I have been requesting COINBASE to transfer my digital ( crypto ) currency from out of their 'vault ' secure storage into my checking account ( also with them ) as I wanted to withdraw the same. This should have happened within 48 hours. On XX/XX/XXXX, XX/XX/XXXX ( twice ), XX/XX/XXXX and XX/XX/XXXX, I I Direct Messaged them on XXXX ( via XXXX XXXX ) asking for someone to reply / respond / take up my case. I received no replies from them. On XX/XX/XXXX and XX/XX/XXXX, I emailed them about the matter after trying to call them ( using their no-help customer support line ). I finally received a reply on XX/XX/XXXX giving me advise on what to do to make the vault withdrawals happen. After following their instructions and reverting to them the very same day to say my transactions were still not happening, I heard from them on XX/XX/XXXX saying there was a technical issue and that a specialist would be looking into it. That was the last time I heard from COINBASE!!!. No amount of follow up emails have been responded to. This is very shoddy operating practices being exibited by COINBASE and is completely unacceptable. They should not ignore customer requests not matter what their excuse is. I urgently need your assistance in getting COINBASE to meet and properly complete my requests as they have caused me financial hardship. Their complete disregard and disdain towards customers should not be allowed to go unchallenged
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-02
Issue: Money was not available when promised
Subissue:
Consumer Complaint: On XX/XX/XXXX, got adviced by Coinbase support to create a new Coinbase account. As my old account is no more accessible due to authentification issue, that would allow them to transfer the balance from my old account to the new one. On the same day, I did create a new account, I mentionned to Coinbase Support my old account and new account emails. Still on same day, Coinbase Support then informs me that they're working with a specialist in order to perform the balance transfer from my old account to the new one. Then, no news from Coinbase Support, while my money is locked for almost one month now. Got no answer from email sent after to Coinbase Support, no answer from XXXX Coinbase Support user " XXXX '' in order to try resolve my issue. Case # XXXX
Company Response:
State:
Zip: XXXXX
Submitted Via: Web
Date Sent: 2018-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A
Date Received: 2018-02-02
Issue: Other transaction problem
Subissue:
Consumer Complaint: on XX/XX/XXXX I sent a wire for {$25.00} over to Coinbase INC/XXXX XXXX in XXXX. On XX/XX/XXXX they sent me an email saying that they could NOT accept the wire and they would send it back to my bank in 10 business days. Has been almost 2 months now and no money. I have contacted coinbase and asked them about it and all they say is we are very backed up and a specialist is taking care of your case and you will get your money soon but so far nothing. I would like them to return my money so I can feed my family. 2 months is unaccepted time to hold someone's money for no reason. Thank you for your time, XXXX XXXX
Company Response:
State: MT
Zip: 599XX
Submitted Via: Web
Date Sent: 2018-02-02
Company Response to Consumer: Closed with explanation
Timely Response: Yes
Consumer Disputed: N/A