being 'ripped off' by Coinbase :( trying to get some help....

[happyguy82]

Hello all,

Are there any support/admin persons from Coinbase on this forum?

I have an issue that seems to be getting worse.

I set up an account over a month ago and deposited some BTC, EUR and GBP.

I have been trying to make a withdrawal for ages but everytime I click on Withdraw, it says 'Before withdrawing funds, please verify your bank account.'. I have already done this twice by making 2 x 10 EUR deposits from my bank account to coinbase. Now Coinbase has 20 EUR of mine and I can't withdraw because the system keeps giving me the same message.

I am unable to get help as their support team seems to ignoring my messages for ages. To make things worse, there isn't a 'subject' on the 'Create a Support Ticket' system that matches this issue.

I have just tried raising this issue with them by selecting a different topic on the support ticket system, only to be sent a boilerplate answer to that topic. It goes to show no one at the support team is reading these messages.

So after > 1 month, I have funds stuck at Coinbase and I am unable to withdraw them.

Could someone please advise what I can do or whom I can get in touch with?

Thanks.

[happyguy82]

Hello. I was hoping to get some help on this matter here....

[mobnepal]

No you will not get any answer from here, you need to create support ticket there and wait for their response.

How you can contact them https://support.coinbase.com/customer/en/portal/articles/2288496-how-can-i-contact-coinbase-support-

[Aurel577]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

[russelluk]

I had exactly the same issue with Coinbase and I am glad that you posted this. I tried to withdraw my fiat money and they made me send a small amount of money to them so that they could verify the Bank account. Nowhere did they say what that small amount was so I sent one Euro which cost me 9 GBPS's in fees. I then waited weeks and the account never got verified. It just stated you must verify your account each time and that it would take 1 business day. I sent numerous support tickets and all were ignored with just the occasional generic email being sent back saying they were very busy. After several weeks I finally got an email from them saying that I must send a minimum of 6 Euros! - You have got to be kidding - they got the first deposit and stated this on my dashboard and them come up with this crap that the deposit must be for 6 Euros. What is that about - what is the dam difference!!!

Anyway I got sick of them and bought Bitcoin at a really awful rate on their site and transferred to LocalBitcoins and sold it there. IT WAS APPARANT TO ME  that Coinbase were not going to send my USD to my account and they kept making up excuses. I for one will never use their site again and am sick of being treated like that from what is supposed to be one of the top exchanges.

They don't monitor this forum and they do not care about the everyday customer.  Get your money of them asap and use LocalBitcoins where you have control of your money and your crypto.

[russelluk]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

[russelluk]

This is what I got from Coinbase after several weeks of trying to get my money out!

Hello there,
Thank you for contacting Coinbase.
Terribly sorry for the delay in our response. We’re experiencing significantly higher volume of support requests than usual.
If I got you correctly, you’re having issues with verifying your SEPA account.
I checked the account and I can confirm that your deposit went through.
However, in order to verify your SEPA account, you need to make a one time deposit of 6 euros which is the minimum amount.
If you have further questions, concerns or if you need further assistance, feel free to email me back anytime.
You can always visit our self help tool found at https://www.support.coinbase.com for more issue resolution steps.
Thank you for your patience during this time and for your continued support while we improve our service.
Thank you for choosing Coinbase!
Best regards,

[Aurel577]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

Well I guess it’s different depending on where your from. I never had to send them any money and had to verify my bank account how I posted. I have made many withdrawals since without a problem.

[russelluk]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

Well I guess it’s different depending on where your from. I never had to send them any money and had to verify my bank account how I posted. I have made many withdrawals since without a problem.

I have no doubt that many people withdraw from Coinbase without problems. But the fact remains that I could not get money out of my account after being with Coinbase for nearly 2 years because of some ludicrous need to verify a bank account with 6 Euros and this became impossible because they choose to not communicate with their customers.

[Aurel577]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

Well I guess it’s different depending on where your from. I never had to send them any money and had to verify my bank account how I posted. I have made many withdrawals since without a problem.

I have no doubt that many people withdraw from Coinbase without problems. But the fact remains that I could not get money out of my account after being with Coinbase for nearly 2 years because of some ludicrous need to verify a bank account with 6 Euros and this became impossible because they choose to not communicate with their customers.

Well Coinbase is a USA based exchange following all US rules and regulations, so I take it since your talking Euros that your not in this Country which would make for different rules to follow to keep from money laundering, ect..... hummm maybe we need a decentralized virtual money system....or maybe you should have used an exchange in your own country.

[russelluk]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

Well I guess it’s different depending on where your from. I never had to send them any money and had to verify my bank account how I posted. I have made many withdrawals since without a problem.

I have no doubt that many people withdraw from Coinbase without problems. But the fact remains that I could not get money out of my account after being with Coinbase for nearly 2 years because of some ludicrous need to verify a bank account with 6 Euros and this became impossible because they choose to not communicate with their customers.

Well Coinbase is a USA based exchange following all US rules and regulations, so I take it since your talking Euros that your not in this Country which would make for different rules to follow to keep from money laundering, ect..... hummm maybe we need a decentralized virtual money system....or maybe you should have used an exchange in your own country.

I don't really agree with what you are saying. I have used Coinbase both in Singapore and the UK. Both of these countries are countries in which Coinbase state they operate. They operate in these countries and I have had to go through some of the hardest AML/KYC procedures with Coinbase to set up an account and operate an account. They have certain restrictions on operating in these countries and part of that is withdrawal limits. My request to take the money out was within my verification and withdrawal limits for the UK in which I now live. These limits are all set by Coinbase and I follow there procedures. So I am certainly not going to applogise for Coinbase because I could not get my money out after weeks of trying. The only reason I could not get it out was because they would not communicate with me and ignored all requests for support.

The fact remains regardless of them being a US based company. They did not treat me fairly as a customer and this is a plain fact.

[happyguy82]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

Well I guess it’s different depending on where your from. I never had to send them any money and had to verify my bank account how I posted. I have made many withdrawals since without a problem.

I have no doubt that many people withdraw from Coinbase without problems. But the fact remains that I could not get money out of my account after being with Coinbase for nearly 2 years because of some ludicrous need to verify a bank account with 6 Euros and this became impossible because they choose to not communicate with their customers.

Well Coinbase is a USA based exchange following all US rules and regulations, so I take it since your talking Euros that your not in this Country which would make for different rules to follow to keep from money laundering, ect..... hummm maybe we need a decentralized virtual money system....or maybe you should have used an exchange in your own country.

I don't really agree with what you are saying. I have used Coinbase both in Singapore and the UK. Both of these countries are countries in which Coinbase state they operate. They operate in these countries and I have had to go through some of the hardest AML/KYC procedures with Coinbase to set up an account and operate an account. They have certain restrictions on operating in these countries and part of that is withdrawal limits. My request to take the money out was within my verification and withdrawal limits for the UK in which I now live. These limits are all set by Coinbase and I follow there procedures. So I am certainly not going to applogise for Coinbase because I could not get my money out after weeks of trying. The only reason I could not get it out was because they would not communicate with me and ignored all requests for support.

The fact remains regardless of them being a US based company. They did not treat me fairly as a customer and this is a plain fact.

Hello fellow Brit!

I'm sorry to hear that you are in the same shoes as I am, however I have deposited 2 x 10 EUR to my account. I now have EUR 20 in there.

Why I use Coinbase is because I do some mining on NiceHash and due to the recent jump in Bitcoin transaction fees, they increased the minimum withdrawal limit to 0.011 BTC which is A LOT, while smaller amounts can be withdrawn to Coinbase. Unfortunately NiceHash only provides both of these options.

Is your account pending bank verification now?

Thanks again.

[happyguy82]

No you will not get any answer from here, you need to create support ticket there and wait for their response.

How you can contact them https://support.coinbase.com/customer/en/portal/articles/2288496-how-can-i-contact-coinbase-support-

Hello,

Thanks for your response but no unfortunately this URL does not work as I've mentioned in my post.

The reason being, that URL presents the user with a set of drop-down questions and none of them pertain to this issue that I am facing. If I select an unrelated one at random, the support person doesn't even read my message but instead sends me a boilerplate response based on the selected topic a few days later.

[Aurel577]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

Well I guess it’s different depending on where your from. I never had to send them any money and had to verify my bank account how I posted. I have made many withdrawals since without a problem.

I have no doubt that many people withdraw from Coinbase without problems. But the fact remains that I could not get money out of my account after being with Coinbase for nearly 2 years because of some ludicrous need to verify a bank account with 6 Euros and this became impossible because they choose to not communicate with their customers.

Well Coinbase is a USA based exchange following all US rules and regulations, so I take it since your talking Euros that your not in this Country which would make for different rules to follow to keep from money laundering, ect..... hummm maybe we need a decentralized virtual money system....or maybe you should have used an exchange in your own country.

I don't really agree with what you are saying. I have used Coinbase both in Singapore and the UK. Both of these countries are countries in which Coinbase state they operate. They operate in these countries and I have had to go through some of the hardest AML/KYC procedures with Coinbase to set up an account and operate an account. They have certain restrictions on operating in these countries and part of that is withdrawal limits. My request to take the money out was within my verification and withdrawal limits for the UK in which I now live. These limits are all set by Coinbase and I follow there procedures. So I am certainly not going to applogise for Coinbase because I could not get my money out after weeks of trying. The only reason I could not get it out was because they would not communicate with me and ignored all requests for support.

The fact remains regardless of them being a US based company. They did not treat me fairly as a customer and this is a plain fact.

wow so what is it can you get money moved out or not? are they making you re-verify bank info or not? you seems to state you have used them before and it worked fine? Coinbase has limits set on my account as I am sure with everyone else. you seem to talk in circles...you have plenty of other exchanges to use with a lot looser rules and regs...good luck

[pinkflower]

Here is one trick to get some attention. Tweet your concerns on @coinbase. As the tweet will be public, they will have no choice but to reply immediately lol. Coinbase is already getting some bad reviews from Bitcoiners who are active on Twitter, and they wont be needing more.

Try it. It worked for me once, but with Poloniex.

With that said, what made you use Conbase in the first place? They are incompetent.

[russelluk]

For the avoidance of doubt I never got the cash out of Coinbase - I had to re buy the Bitcoin from them and send it to Localbitcoins. By the time I got the Bitcoins the price had crashed and so I am out of pocket by several thousand pounds.

FACT 1: I tried for weeks to get Coinbase to send my fiat money that was sitting in GBP's to my bank account
FACT 2: They never sent it because of ignoring my support tickets and then finally after many many weeks said that the account had to be verified with a 6 Euro deposit while acknowledging that they had received the 1 Euro Deposit. So why is it not verified
FACT 3: I gave up and bought Bitcoin back with the cash and moved that out to LocalBitcoins. In the interum the price crashed and now I am out of pocket heaps

The point is that when you have money in an exchange you should be able to withdraw it to your bank account without endless weeks of it going nowhere.

THANKS COINBASE - but you cost me money and you are the most unprofessional exchange I have ever dealt with!

[russelluk]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

Well I guess it’s different depending on where your from. I never had to send them any money and had to verify my bank account how I posted. I have made many withdrawals since without a problem.

I have no doubt that many people withdraw from Coinbase without problems. But the fact remains that I could not get money out of my account after being with Coinbase for nearly 2 years because of some ludicrous need to verify a bank account with 6 Euros and this became impossible because they choose to not communicate with their customers.

Well Coinbase is a USA based exchange following all US rules and regulations, so I take it since your talking Euros that your not in this Country which would make for different rules to follow to keep from money laundering, ect..... hummm maybe we need a decentralized virtual money system....or maybe you should have used an exchange in your own country.

I don't really agree with what you are saying. I have used Coinbase both in Singapore and the UK. Both of these countries are countries in which Coinbase state they operate. They operate in these countries and I have had to go through some of the hardest AML/KYC procedures with Coinbase to set up an account and operate an account. They have certain restrictions on operating in these countries and part of that is withdrawal limits. My request to take the money out was within my verification and withdrawal limits for the UK in which I now live. These limits are all set by Coinbase and I follow there procedures. So I am certainly not going to applogise for Coinbase because I could not get my money out after weeks of trying. The only reason I could not get it out was because they would not communicate with me and ignored all requests for support.

The fact remains regardless of them being a US based company. They did not treat me fairly as a customer and this is a plain fact.

wow so what is it can you get money moved out or not? are they making you re-verify bank info or not? you seems to state you have used them before and it worked fine? Coinbase has limits set on my account as I am sure with everyone else. you seem to talk in circles...you have plenty of other exchanges to use with a lot looser rules and regs...good luck

Please do not jump to conclusions - read the thread and all the details are here - I have not gone around in circles - while using them for years this was the one and only time I tried to withdraw fiat to my bank account from Coinbase and I never managed to do it - next post shows how I got it out in the end - I am not interested in looser rules - I just want an Exchange to stick to their side of the bargain.

[russelluk]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

Well I guess it’s different depending on where your from. I never had to send them any money and had to verify my bank account how I posted. I have made many withdrawals since without a problem.

I have no doubt that many people withdraw from Coinbase without problems. But the fact remains that I could not get money out of my account after being with Coinbase for nearly 2 years because of some ludicrous need to verify a bank account with 6 Euros and this became impossible because they choose to not communicate with their customers.

Well Coinbase is a USA based exchange following all US rules and regulations, so I take it since your talking Euros that your not in this Country which would make for different rules to follow to keep from money laundering, ect..... hummm maybe we need a decentralized virtual money system....or maybe you should have used an exchange in your own country.

I don't really agree with what you are saying. I have used Coinbase both in Singapore and the UK. Both of these countries are countries in which Coinbase state they operate. They operate in these countries and I have had to go through some of the hardest AML/KYC procedures with Coinbase to set up an account and operate an account. They have certain restrictions on operating in these countries and part of that is withdrawal limits. My request to take the money out was within my verification and withdrawal limits for the UK in which I now live. These limits are all set by Coinbase and I follow there procedures. So I am certainly not going to applogise for Coinbase because I could not get my money out after weeks of trying. The only reason I could not get it out was because they would not communicate with me and ignored all requests for support.

The fact remains regardless of them being a US based company. They did not treat me fairly as a customer and this is a plain fact.

Hello fellow Brit!

I'm sorry to hear that you are in the same shoes as I am, however I have deposited 2 x 10 EUR to my account. I now have EUR 20 in there.

Why I use Coinbase is because I do some mining on NiceHash and due to the recent jump in Bitcoin transaction fees, they increased the minimum withdrawal limit to 0.011 BTC which is A LOT, while smaller amounts can be withdrawn to Coinbase. Unfortunately NiceHash only provides both of these options.

Is your account pending bank verification now?

Thanks again.

Hi mate - sorry for endless quotes - it was always in the pending verification stage with a message stating that it will be verified in one to two business days - after a few weeks of waiting that was obviously not going to happen. The annoying thing is that they told me originally to send a small deposit to verify the account which I did being one Euor - there was no mention that it had to be 6 Euros so why would I send to them any more than the minimum the Bank would send.  Also what dam difference does it make if it is 1 or 6 Euros as the deposit was verified and came from my Bank account. If this was not stall tactics I really do not know what is. Also incidentally no apology or anything was ever received from Coinbase.

[happyguy82]

Here is one trick to get some attention. Tweet your concerns on @coinbase. As the tweet will be public, they will have no choice but to reply immediately lol. Coinbase is already getting some bad reviews from Bitcoiners who are active on Twitter, and they wont be needing more.

Try it. It worked for me once, but with Poloniex.

With that said, what made you use Conbase in the first place? They are incompetent.

Hello,

The reason is as mentioned a few posts before this, NiceHash only supports withdrawals to Coinbase. Although they are looking to support more exchanges going forward.

[happyguy82]

I believe you are confused some. I think the way Counbase verifies bank accounts is by THEM making 2 deposits into YOUR bank account and you telling them what those 2 amounts were, that way they know you have access to that bank account.

The amounts are very small and then they reverse and take the amounts back, but they will still show up on your bank statement or online.
Everything they do is for your protection.

Sorry this is not correct - they make you send a small amount and if you read my post above you will see how bad they treat you when they do that

Well I guess it’s different depending on where your from. I never had to send them any money and had to verify my bank account how I posted. I have made many withdrawals since without a problem.

I have no doubt that many people withdraw from Coinbase without problems. But the fact remains that I could not get money out of my account after being with Coinbase for nearly 2 years because of some ludicrous need to verify a bank account with 6 Euros and this became impossible because they choose to not communicate with their customers.

Well Coinbase is a USA based exchange following all US rules and regulations, so I take it since your talking Euros that your not in this Country which would make for different rules to follow to keep from money laundering, ect..... hummm maybe we need a decentralized virtual money system....or maybe you should have used an exchange in your own country.

I don't really agree with what you are saying. I have used Coinbase both in Singapore and the UK. Both of these countries are countries in which Coinbase state they operate. They operate in these countries and I have had to go through some of the hardest AML/KYC procedures with Coinbase to set up an account and operate an account. They have certain restrictions on operating in these countries and part of that is withdrawal limits. My request to take the money out was within my verification and withdrawal limits for the UK in which I now live. These limits are all set by Coinbase and I follow there procedures. So I am certainly not going to applogise for Coinbase because I could not get my money out after weeks of trying. The only reason I could not get it out was because they would not communicate with me and ignored all requests for support.

The fact remains regardless of them being a US based company. They did not treat me fairly as a customer and this is a plain fact.

Hello fellow Brit!

I'm sorry to hear that you are in the same shoes as I am, however I have deposited 2 x 10 EUR to my account. I now have EUR 20 in there.

Why I use Coinbase is because I do some mining on NiceHash and due to the recent jump in Bitcoin transaction fees, they increased the minimum withdrawal limit to 0.011 BTC which is A LOT, while smaller amounts can be withdrawn to Coinbase. Unfortunately NiceHash only provides both of these options.

Is your account pending bank verification now?

Thanks again.

Hi mate - sorry for endless quotes - it was always in the pending verification stage with a message stating that it will be verified in one to two business days - after a few weeks of waiting that was obviously not going to happen. The annoying thing is that they told me originally to send a small deposit to verify the account which I did being one Euor - there was no mention that it had to be 6 Euros so why would I send to them any more than the minimum the Bank would send.  Also what dam difference does it make if it is 1 or 6 Euros as the deposit was verified and came from my Bank account. If this was not stall tactics I really do not know what is. Also incidentally no apology or anything was ever received from Coinbase.

No problem mate. Sorry to learn of your huge loss.

You are right that whether it’s a cent or 6 EUR it’s the same. In fact the screen says “make a small deposit in EUR” without specifying the minimum amount.

They seem to be doing there on purpose to scam us one way or another....