Bitcoin Forum

I sold some bitcoins using Coinbase 5 days ago and still has been been deposited into my bank account. My father also sold bitcoins on the one day ealier( 6 days ago ) and hasn't seen a deposit either. I have used them previously before with no problems and I'm at a level 2 security also. It is IMPOSSIBLE to contact Coinbase by phone since they do not list any phone numbers, so you have to rely soley on email and apparently companies love that since if they don't want to answer they just don't respond. Coinbase boasts how much they have grown and prospered but you still can't even call them on the phone to find out what's going on. Did they run out of money or something? Starting to get a little concerned because customers are pretty much left in the wind with no support. Unfortunately I have to post the issue here also, since sometimes via email that's a black hole also with no response.

http://www.photopiks.com/coinbasetransfer.jpg

Same thing here, I also noticed that ALL my prior transactions now have a date of Oct 31st, under details. I'm assuming they had a major DB fuckup.

And the site was inaccessible for a couple of hours the other night as well. Why in the world they sill are selling/buying bitcoin with issues still pending is beyond me. I hate when companies keep operating when there are known current issues.

Same boat as all you guys. Last week sold some coins and their website said coins will be deposited on the 1st of Nov, Still haven’t seen anything, I have been emailing them constantly and got one response back, that they did a system upgrade and my deposit got stuck and should get it Monday, still nothing. I search for their number and cant find any, they hid that information well. Right now I need my money and shit out of luck. They have left a very bad taste in my mouth and cant wait for a better alternative to come around.

Multiple emails I haven't seen any response from them at all. I have over $1200 that are over 6 days pending. What's the deal Coinbase? You have some customer's reaching out for help here and holding out money hostage now. Will you compensate us for the BTC increase?

Look like many people are having the same problem with Coinbase. I have yet to get the funds for a sell I made last Tuesday. My last selling orders all went fine up to this one so I wonder what's happening with Coinbase? Their system seems weird these days too as the status of my recent order is totally inconsistent. In 'transaction history' it appears 'complete' but then when I get into 'transaction detail' it shows 'pending'!, and sometimes it does not get listed anywhere on my account.

Same here, sold near 10 BTC on Tuesday of last week with a Nov 1st payout deadline.

As of Monday the funds are not in mu account.

Email/ticket sent on Friday, as of now, not yet answered.

Cheers...

Adding another "Same here" to the mix. First time using Coinbase... sold a few $k of BTC and nothing has hit the ol bank account yet. Maybe I should have stuck with my old Exchange.

Coinbase care to chime in?

Same problem as well - usually if I sell by COB the deposit hits my account the next day ... day after at the latest.  Still waiting on 2 from the 30th...  Has anyone sold coins since Oct. 30 and received a deposit?

Could just be another company that got over their heads and should have ceases business for a while until they can figure out what is going on. I'm currently looking elsewhere to sell my coins. I can't have a transaction in "pending" status for over a week and then have a 3 day email response time. That equals to me getting my money in possibly a month or more down the road. Not right.

Possibly - they've been great so far so I hope that this is just a one-time thing.  It would be helpful if they explained any delays, service interruptions, etc. quickly on their blog.  Most people don't mind waiting a couple days (if it is just that), as long as they know what is going on. 

It's also interesting that their pricing is closer to Gox than to Bitstamp recently, and the buy/sell spread has been low (though it spreads out when volatility increases) - maybe they are experiencing increase demand for coins, and are buying at a higher price to keep up with the demand.  I guess it takes them longer to receive money than to send it out, so the delays could be a reflection of the higher demand. 

Not necessarily a bad thing.  This run-up has been interesting in a number of respects.  There seem to be patterns of buying at different times per day - possibly correlating with when buyers' exchange accounts are replenished with transfers from their fiat bank to the exchange?

But to inform the customer of one date, then tell them another date is bullshit. According to their website my deposits should have hit my bank November 1st. It says that right there in my transaction details. Now they email and say November 7th. Since then BTC prices have risen and I could have made more money else where. They're not going to compensate me for holding my money hostage, so I have to diligent about these transactions and stay on top of them. I'll switch back to Dwolla, I don't care.

Good to hear you received a firm date - mine are only a day late so I haven't asked yet.  You are right - the date they say the deposit will be in your bank, it should be there, unless your bank somehow holds it up.  Up until this past week, deposits to my account posted early on a consistent basis.  This is the first late one.  They should say something like "your funds will be deposited to your bank no later than xx date."  If that date if 5 days from now, and the deposit posts in 3 days, great.  But at least I know not to plan on having use of those funds for 5 days. 

In a perfect world, it would be next day, every time. 

I have 6 BTC in pending sales. 4 BTC sale was due yesterday, 2 is due on Thursday.  This has already damaged my trust.

When I see this type of activity, I think ponzi.  I just hope that we all don't get screwed.

I just sent a support ticket(before seeing this thread), let's see what happens.

All they keep telling me it to wait. Even though their system said I would have my money on November 1st, they are just telling me now to wait until the 7th. So that would be 10 days to get a Coinbase payout. That's quite a long time. Seriously, thinking about Dwolla again.

Hope they are not on the down side of the hill now.

I keep forgetting if I can sell BTC at Dwolla or not. Or even Mt.Gox. I'm verified at both places, but they change the rules so often you can't keep up. I can't keep having coinbase hold my money hostage anymore especially when since I sold it BTC prices have increased already. If I was able to get MY money back, I could sell at at a more reliable place, using the higher ask.

I am having the same issue with 100+ btc in sales.  I hope they get this figured out soon.

Did you open a support ticket??

Yes I did on Friday Nov 1st, Case #39557.  No response.

Another "Same here."

I wish I had read this before making so many trades. I was expecting payments that never came and my account was -$400 this morning. Thanks Coinbase.

Same here, 100+ BTC, support ticket, nothing.

Another same here.

Hmmm, hope all is well with them.

Well if its not... you can bet im making a trip to Cali.

Stop in Vegas and we can ride together.

They posted in another thread earlier today (about looking for alternatives to coinbase) but haven't posted here yet ... hmmm

Made a reddit thread for now.. and PM'ed olaf on the forums.
http://www.reddit.com/r/Bitcoin/comments/1pyr6n/coinbase_where_are_the_deposits/

I also just sent Olaf a message.  I am requesting that the 123 btc be returned to me.  It seems like selling to Coinbase may be a "high risk transaction".

Sounds like fun ;D, I am wanting my coins back too. Let's see if they will play a fair game.

I am also experiencing this issue.  My mining business has been consistently selling some BTC on Coinbase every day, and the last USD deposit hit the bank account Oct. 30.  Transactions that have not arrived are marked as completed.

Tweeted to the founders: https://twitter.com/dustcoin/status/397801153150201856 (https://twitter.com/dustcoin/status/397801153150201856)

Hey guys - sorry for the undue worries here.

In short, we had a syntax error in the ACH file we submitted to the bank last night.  By the time we corrected it, the "bank cutoff" for the day had already past, although we submitted it only half an hour or so later.  The net effect of this is what you're currently seeing - orders marked as "completed" because we have actually sent the instructions to the bank but they won't be processed until this evening when the bank does their daily processing.  One of the unfortunate downsides of working within the traditional financial system (and their very old codebase), and why I love Bitcoin.

Wanted to make sure you guys understood what was going on!

Thanks for the update! Hopefully this is legit.

Although I wonder why the payments have been delayed for almost a week even though you say the error was just last night?

This makes me wonder...what had you guys been doing before LAST night? At least we heard something from them. It's not perfect, but its better than nothing.

That doesn't explain my sale of 50 btc that was suppose to hit my bank on Friday Nov 1st that didn't make it.

Same here. I had funds that were supposed to be deposited November 1st that were sold October 30th and nothing. Email support is useless. They just throw on a week and tell me to wait. Apparently using Coinbase to sell your coins will be a high risk process going forward. Having your money being held hostage is pretty bad thing to do. Especially with no notices, announcements, nothing.

Olaf, having "errors" when dealing with bank transfers shouldn't even be in same sentence. When you dealing with people's money you really shouldn't have any "errors". What is being done to prohibit this from happening again? Are you compensating for all the days you are holding people's money hostage that can be making money? I sold bitcoin using Coinbase on October 30th and here it is November 5th with no money in site. I know you guys love to blame the traditional banking system, but I don't think they had anything to do with it. Be a stand up company, isolate the people that have posted here and are having problems and contact them. You asked me to message you a day ago with my info....I did and got zero 0 response back from you.

Clearly a syntax error on the ACH batch upload last night does not effect my supposed Nov 1st deposit either...unless....

All these pending transfers were batched together yesterday, which would be odd as they should have already been pair out

or

There were other errors on coinbase's side that led to a delay, a delay that no one was made aware of, that forced them to hastily batch all these orders together, which in turn aided in causing this syntax error due to the volume being processed

Cheers,

SO what the heck do we do now if Coinbase doesn't want to give us our money? How long does a company have to "hold" your money legally? Because it was transferred into USD, so now those laws have to apply. My father who lives 50 miles away from me sold Bitcoin on Coinbase the night of October 30th and he is in the same boat we are. No deposit made. I will be be VERY weary of using Coinbase going forward for such things anymore. Take a look at this screen shot. You can clearly see the November 1st date, and he we are already at November 6th with no status change. How long should we wait and what do we do?

http://www.photopiks.com/cbnv4.png

My account looks nearly identical save the amounts.

You will notice that the BTC transfer to coinbase shows completed as of Nov 5th, meaning more than likely they initiated the final withdrawal process on that date.

My account shows the same for BTC I transferred to them on Oct. 29th.

In my eyes this means I should be given the BTCUSD rate on the date of Completion....

Cheers...

Yea, they took my bitcoin but haven't paid me. You do that in my neighborhood to someone you get a good beating. Even if it is for a dollar. I have multiple deposits waiting and lots of money being held hostage right now. If nothing happens November 7th then I will be forced to contact my attorney. It is a move I don't want to do, but forced to do. Then I'll start billing Coinbase and send them invoices. All they had to do was cease business when things weren't working properly. Very simple to do.

Olaf, this issue is bigger than just a 1-day glitch.

This sell and each sell from every day after it have not arrived in my account.  On the history page, the entire transaction is marked as complete, while in the details, the bank account portion is still marked as pending.  Additionally, a sell from Oct. 28 should have arrived last thursday or friday at the latest according to Coinbase's usual estimates.
https://i.imgur.com/92BTT0A.png

I'm not sure if this is relevant, but I recently noticed the messaging in the Sell dialog change from something along the lines of "we will transfer $X,XXX to you bank account by XX/XX/XX" to "we will wire $X,XXX...".  Has coinbase switched from ACH to wires?  Customers won't be happy with the incoming wire fees if this is the case.

I don't think coinbase will do this.

My funds, from a Oct 29th sale of 9,99 BTC hit my bank account (ACH) about 45 minutes ago.

Still looking for a better explanation as this ACH transfer was not sent until Nov. 5th.

Cheers...

I haven't not seen my money yet that was supposed to arrive on Nov 4. I'm not just looking for an explanation as to why this payment was late. I'm more concerned about the possibility of this issue happening again to subsequent sells.   

Just wanted to chime in and say that I had similar issues.   All outstanding deposits came in this morning.

BigVern

Got my money this morning. I'm glad, but I no longer trust Coinbase as much as I did before.

Agreed. Got my funds this morning but not selling coins over 1000 dollars there anymore, go back to wire transfers at the exchanges with high amounts.

I'm the OP and all my funds came in this morning even though I was told it would be tomorrow. So I think Coinbase is having issues getting money to people. We now pay a Coinbase fee and a Bank fee. Mistakes should not be happening when we are paying fees. That's why companies add the fees so things happen correctly. I'm a verified member on Dwolla and Mt.Gox and I believe I can sell bitcoin there, hopefully I can, because I don't trust Coinbase's practices anymore, especially the way they handled this for everyone. They now have made it to the "unreliable" side of my notebook. That side gets smaller and smaller everyday. People that own companies just don't give a shit anymore and only care about the bottom line. And what happens to a company like that when they finally start to care and do things right it's too late.

So Coinbase I thank you for getting my money to me ( exceptionally late) with no good reasons, but if you notice I don't use your service anymore it is that sour taste I feel in my stomach when getting taken advantage of. If you have some things to iron out, then do so on test accounts or your own money.

Thank you

I got mine this morning (was suppose to be Friday)

Kinda upset cause the reason I sold was to get some cash I needed by Saturday.

Today I received funds from the sale of 40 btc on Oct 31st today that was suppose to show up yesterday.

I am still waiting on the funds from a sale of 50 btc on Oct 29th that was suppose to hit my bank on Nov 1st and another 33 btc from Oct 31st that was suppose to hit my bank yesterday (Nov 5th)

I received 6 transfers from coinbase today, it appears things are back to normal.

how are you contacting coinbase?  There seems to be no telephone and their support page does not load.

Telephone? Hahahaha. You have to email them and hope you get a response.

what is their email address?  Their support page does not load.

You guys do realize this is from november right, its pretty much done