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Author Topic: Coinbase not paying???  (Read 2175 times)
bitcoinroad
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February 02, 2013, 04:56:10 AM
 #1

I sold about 3 bitcoins Jan 24th and was told I was going to receive $Money USD on Jan 29th.  Its now almost the 2nd of Feb and still no funds in my account.  Im kind of freaking out. Anyone else have these issues? And is there a better "exchange" out there?  Dont get me wrong Ive liked Coinbase up to this point...and Im extremely disappointed.

Thanks for any help. Any valuable help will be tipped kindly.
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Stephen Gornick
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February 02, 2013, 05:10:28 AM
 #2

I sold about 3 bitcoins Jan 24th and was told I was going to receive BTC on Jan 29th.

Were you using the Instant account verification or had you previously done the Deposit verification method to link a bank account?




[Edit:
Dont get me wrong Ive liked Coinbase up to this point...and Im extremely disappointed.

You've successfully purchased through them before?]

Third Way
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February 02, 2013, 05:33:36 AM
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I have heard many people recently having many transfer cancelled dueto "highrisk".

blease resbond -> 1BYJKxpntNn6TZbM5M5CWkEb8vr8vDcBrr
redbeans2012
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February 02, 2013, 06:24:53 AM
 #4

You say you Sold bitcoins then you are waiting to receive bitcoins also?  I dont get it?

I just bought two from them the other day and cleared about 4 days later and they are in my account.
bitcoinroad
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February 02, 2013, 06:41:38 AM
 #5

Ok,

To answer all questions.

I verified with deposits, phone, and email.

I apologize for the typo, it should have said $$$.  My bad. 


Do you guys know any other solid exchanges that promise a date and follow through with it.


Like I said, I have loved Coinbase till now, and these issues are the severe issues that make them accountable for very improper behavior.
bitcoinroad
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February 02, 2013, 06:55:33 AM
 #6

I sold about 3 bitcoins Jan 24th and was told I was going to receive BTC on Jan 29th.

Were you using the Instant account verification or had you previously done the Deposit verification method to link a bank account?




[Edit:
Dont get me wrong Ive liked Coinbase up to this point...and Im extremely disappointed.

You've successfully purchased through them before?]

Yep, I've purchased a few times and I've received BTC a day earlier than projected. 

Even have sold a few with successful deposits.


I guess my biggest worry is this:  I sold those BTC on Jan 24th and was supposed to receive funds into my account on Jan29th...I waited a day later giving them a little slack before I said anything to refrain from looking like a jerk.

Well, a day goes by and nothing was said.....Not cool.

So I send a friendly EMAIL and stated my case...

(previous to this I sold more BTC on Jan 26th)

they repsonded with "We're sorry, we went ahead and released that because "I WAS FLAGGED".....I have not heard as to why I was "flagged" and I have no idea what that means, and I can't seem to get an answer about that.

Well, they released the funds....but they released the funds from the Jan 26th sale two days earlier than they should have....they completely looked over the two previous sales from Jan 24th.....

Now I can't get a response from them and they are stating that the funds released, which is bull or my bank is being total jerk faces and not saying anything about any "denied" deposits......AMEX is fairly good about keeping me informed about my account....

Either way, I have requested to either pay my happy ass or refund my BTC so I can take my Biz elsewhere. 

Improper responses and NO response at all for an entire day for this kind of issue is unprofessional and can create a very bad rep for a new emerging market.






Stephen Gornick
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February 02, 2013, 06:58:20 AM
 #7

Do you guys know any other solid exchanges that promise a date and follow through with it.

From another thread:



Pick one.

Oftentimes Dwolla works well for moving funds to the exchanges (Camp BX and Mt. Gox).    A Dwolla transfer from a bank takes several business days, but then to the exchange is for the most part same day.

Sounds like you are trying to provide exchange services without sufficient operating capital (cash).  Other fixed-rate exchanges that have made it through that sucky phase have done so after raising capital so that a couple day delay in moving funds doesn't put them out of business.  They still have periods where they can't serve the entire demand, but it isn't a regular occurrance (nor nearly-fatal to them as a business when it does occur).

bitcoinroad
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February 02, 2013, 07:35:28 AM
 #8

Do you guys know any other solid exchanges that promise a date and follow through with it.

From another thread:



Pick one.

Oftentimes Dwolla works well for moving funds to the exchanges (Camp BX and Mt. Gox).    A Dwolla transfer from a bank takes several business days, but then to the exchange is for the most part same day.

Sounds like you are trying to provide exchange services without sufficient operating capital (cash).  Other fixed-rate exchanges that have made it through that sucky phase have done so after raising capital so that a couple day delay in moving funds doesn't put them out of business.  They still have periods where they can't serve the entire demand, but it isn't a regular occurrance (nor nearly-fatal to them as a business when it does occur).


Yeah, I've had to cease the sales of BTC to individuals to that very nature.  I've used CampBX and loved it till DWOLLA banned me from using their service because of BTC. 

I wonder if Coinbase is in that stage, if so, that blows...

Mind you, all of my clients have been extremely happy with my service and appraise of what i have done for them.  However, I got screwed (attempted and failed) by one individual that tried a chargeback, I then immediately shut everything down and have been seeking a "better" way....I'm on the verge of that, but that's not the issue at hand.....

The issue at hand is "Coinbase" not living up to the dates they provide for depositing CASH money into accounts and looking over previous sales and stating that it released, me providing a bill statement from my bank and then not hearing from them for an entire day (today).  Very Not Cool. 
bitcoinroad
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February 02, 2013, 04:04:12 PM
 #9

So has anyone used Localbitcoins.com?

I love their security feature of google auth.

Has anyone used their Escrow Service??


And guess what still no word from Coinbase.......now I'm pissed.
redbeans2012
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February 02, 2013, 06:34:35 PM
 #10

To cash out I've always used https://fastcash4bitcoins.com/

They are great.  Lots of options to cash out.  They used to have same day deposits into your bank account, not sure if thats the case anymore.  Lots of good reviews.  Just do a search and find their thread on this forum.
bitcoinroad
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February 03, 2013, 12:12:33 AM
 #11

To cash out I've always used https://fastcash4bitcoins.com/

They are great.  Lots of options to cash out.  They used to have same day deposits into your bank account, not sure if thats the case anymore.  Lots of good reviews.  Just do a search and find their thread on this forum.

That looks great, Ill check it out and see what its all about. Thank you!!

and yep you guessed it.  coinbase has not responded yet.
redbeans2012
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February 03, 2013, 12:34:13 AM
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To cash out I've always used https://fastcash4bitcoins.com/

They are great.  Lots of options to cash out.  They used to have same day deposits into your bank account, not sure if thats the case anymore.  Lots of good reviews.  Just do a search and find their thread on this forum.

That looks great, Ill check it out and see what its all about. Thank you!!

and yep you guessed it.  coinbase has not responded yet.

I just started using them to buy.. thanks for the heads up.  Keep me updated on what happens.  Seems like they have some funding behind them, doesn't seem they would be a scam.
bitcoinroad
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February 03, 2013, 06:24:30 PM
 #13

You can view the transaction details here:

http://bitcoinroad.tumblr.com/

I have included on my tumblr post my bank account transaction details and coinbase transaction details to show the IRREGULARITIES. 

As soon as they correct this issue, I will post when they correct it....for now IT IS NOT CORRECTED, and I am an upset Customer of COINBASE.
rb2k
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February 03, 2013, 07:16:07 PM
 #14

Just in terms of you mentioning an "early release": I think Coinbase mentions that you'll receive the funds BY a certain day. Not AT a certain day.
They can't influence how long the transaction from their to your bank will take.
bitcoinroad
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February 03, 2013, 08:21:32 PM
 #15

Just in terms of you mentioning an "early release": I think Coinbase mentions that you'll receive the funds BY a certain day. Not AT a certain day.
They can't influence how long the transaction from their to your bank will take.

Very true.  But that has nothing to do with this scenario.

I was supposed to receive $$$ on Jan 29th from transactions started on Jan 24th....so you're telling me that it takes 8+ business days to receive funds (not likely)?  And to top it off, I got funds deposited on Jan 31st from a Coinbase transaction on Jan 28th, that only took 3 days........so where's my Jan 24th funds that was supposed to be received Jan 29th? 

Thats the IRREGULARITY of this. 

They have some things mixed up and NOT PAID and I have had no response about this, and I'm rather upset about it.

I was polite in the beginning and having lack of communication regarding this issue has further upset me and I just want people to understand the turmoil I'm going through.

Like I've said previously, I have enjoyed Coinbase service up till this point.  I thought it was a solid company trying to make a dime....now I'm thinking otherwise.

bitcoinroad
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February 04, 2013, 02:49:18 PM
 #16

Paid.
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