How long does coinbase take to set up bank account?

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I am having difficultly buying bitcoins. I would like to buy them fairly quickly. I set up an account with Dwolla but to confirm the bank account with the microtransactions looks like it may take days. I am still waiting for the microtransactions to appear. It looks like coinbase uses the same system but should it take days to officially set up?

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[Physical-LTC]

I forget how long it took me, It was less than a few days though, its worth it, always have worked great for me.

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I forget how long it took me, It was less than a few days though, its worth it, always have worked great for me.

Thanks, I will give it a shot later. Right now I am still waiting for the microdeposits from Dwolla to come through. I would hate for both of them to arrive at the same time and not know which one is which. 

[CoinBusiness]

If I remember correctly from other sites that use the same system, it takes 2 or 3 business days for the transactions to appear.

[orymh]

Bank verification on Coinbase took 3 days for me. In addition to the time it takes to link your bank account, there's a waiting period of 4 days before you can start buying or selling.

[Big Toe]

Way to long

[killcat]

takes awhile

[Auburnate]

About 10 business days. 

[saddambitcoin]

I am having difficultly buying bitcoins. I would like to buy them fairly quickly. I set up an account with Dwolla but to confirm the bank account with the microtransactions looks like it may take days. I am still waiting for the microtransactions to appear. It looks like coinbase uses the same system but should it take days to officially set up?

Don't listen to the above.  I just set up my bank account on Coinbase a week ago.  They can actually verify your bank account instantly if you give them the username and password of your online bank info.  After they verify just change your password at the bank.  Done.

[orymh]

I am having difficultly buying bitcoins. I would like to buy them fairly quickly. I set up an account with Dwolla but to confirm the bank account with the microtransactions looks like it may take days. I am still waiting for the microtransactions to appear. It looks like coinbase uses the same system but should it take days to officially set up?

Don't listen to the above.  I just set up my bank account on Coinbase a week ago.  They can actually verify your bank account instantly if you give them the username and password of your online bank info.  After they verify just change your password at the bank.  Done.

This is true for some, but not all, banks. Generally it's larger banks that can use this pass-through authentication.

[macintosh]

To long way to long

[killcat]

Not very long i think

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Thanks guys. Finally got Dwolla set up so I can start buying Bitcoins. Next step is to get coinbase set up.

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Ugh. I finally got coinbase all set up. I tried to buy some bitcoins and after I bought them it said that my bitcoins should be available in about a week (6 days). A week? What? Out of frustration I cancelled the order. For bitcoins to be an electronic currency in the 21st century I am honestly shocked. Maybe I shouldn't be, but I simply don't understand it. This is really frustrating, as I have been itching to buy bitcoins for days now.

[angryrob]

from what i understand of coinbase... the goal of coinbase is more to be a merchant/customer service, like the "paypal of bitcoins" ... to make it easier for companies to accept bitcoins as a payment without having to actually worry about any kind of risk that many people associate with the word bitcoin because they (the merchant) are just receiving USD/currency, not BTC, as coinbase automatically does the transaction of BTC->Currency for them.

coinbase isn't really meant to be a BTC trading platform (MtGox). They aren't directly competing against MtGox because they are providing a different kind of service, one that is geared more towards merchants and being about as user (customer) friendly as paypal.

[sliding scale]

from what i understand of coinbase... the goal of coinbase is more to be a merchant/customer service, like the "paypal of bitcoins" ... to make it easier for companies to accept bitcoins as a payment without having to actually worry about any kind of risk that many people associate with the word bitcoin because they (the merchant) are just receiving USD/currency, not BTC, as coinbase automatically does the transaction of BTC->Currency for them.

coinbase isn't really meant to be a BTC trading platform (MtGox). They aren't directly competing against MtGox because they are providing a different kind of service, one that is geared more towards merchants and being about as user (customer) friendly as paypal.

Thanks for the reply Rob. BTW, I am a little angry too; now.

I can understand that they want to fill paypal of bitcoin niche. But when I do something on paypal it is instant. I was kind of expecting something equivalent with bitcoin. At least start something today and finish tomorrow. I have been trying for days and still have zero bitcoins! Forgive my rant. I blame no one. Not Dwolla nor coinbase. Just shocked it takes so long and frustrated that I cant get bitcoin this WEEK!

[mjc]

Did you try the Bit Instant and Mt Gox.  I realize some don't like that but I had my BTC in less than an hour.

Here is a step by Step : http://bitcoinsbs.wordpress.com/2013/04/11/so-you-want-a-bitcoin/

[superfluouso]

Your frustration really has nothing to do with Coinbase or bitcoin but current banking systems and the lenght of time for ach.  Apparently, things will be faster at coinbase soon as shown on:

http://www.reddit.com/r/Bitcoin/comments/1h6bnf/coinbase_is_soon_implementing_instant_coin/

Also, if you're not trading, I'm not sure what the rush is to get coins instantly.  Once you place your order at coinbase, you have them at the price shown.  Unless you're gonna dump them or need to buy something immediately, 6 days could be looked at as moot.