Coinbase withdrawal delays thread [Please add ACH delay reports to this thread]

[thebrit]

Oblong, thank you for this explanation. If this is the case AND coinbase respected its customers enough to stop treating them like they don't know what an ACH transaction is then would I even be posting in this thread?

Well maybe a little bit to tbh, but I would certainly understand a lot more and appreciate the honest and timely information provided by the company.

I want to call my senator actually, nothing gets things down more than a politician with a cause. I can't to that to btc though in restrospect, I don't want negative situations attached to btc. Or I'd call the press haha! 'Reputable bitcoin company holds tens of thousands of dollars'.

Appreciate the comments once again.

[1715000613]

1715000613

[Nolo]

I sold 5 BTC to coinbase on Wednesday.  My transactions log says: "Pending - will complete on Friday Nov, 22 2013 at 11:49AM"

Obviously that time has come and gone.  I just emailed support about an hour ago, so I can't complain they aren't responding to me.  I just wanted to see if anyone had any idea, based on their own recent experiences, when I could expect this $ to hit my bank account. 

Thanks.

[oblongmeteor]

Oblong, thank you for this explanation. If this is the case AND coinbase respected its customers enough to stop treating them like they don't know what an ACH transaction is then would I even be posting in this thread?

Well maybe a little bit to tbh, but I would certainly understand a lot more and appreciate the honest and timely information provided by the company.

I want to call my senator actually, nothing gets things down more than a politician with a cause. I can't to that to btc though in restrospect, I don't want negative situations attached to btc. Or I'd call the press haha! 'Reputable bitcoin company holds tens of thousands of dollars'.

Appreciate the comments once again.

I don't disagree with your position. Honesty is always the best policy - people will generally understand. For some reason though there seems to be this feeling that actually admitting to your customers that you have problems is a sign of weakness, so you keep them guessing until the underlying fault either resolves itself (Bitstamp Banking issues->DDoS attacks) or you collapse entirely (BitInstant).

Shame really.

[mb300sd]

Deposit was delayed 1 day from their estimate. No big deal.

[smooth]

I got a small ACH yesterday that had been delayed a couple of days. I was thinking about doing a larger one with them but I think I'll wait until this is cleared up.

[thebrit]

Deposit was delayed 1 day from their estimate. No big deal.

I have had three deposits from them from earlier this week. Total $1300.  Still nothing on the $15k from past week though and no email response since their 'you are an idiot' reply.

[goxed]

Olaf from Coinbase here. You all are correct - our ACH withdrawals were delayed by a couple days. I apologize for the trouble - the funds are likely en route to your bank accounts now!

Thanks for the update. It would be nice if you guys kindly please keep us in the loop. Most of use here understand logical explanations.

[smooth]

New oddity.

I sold some bitcoins the other day but now the sell transaction is gone, and the coins are back in my account.

No email or other notification.

In place of where the sale used to be in my history, it says "You sent bitcoin to Coinbase" 11/19 and then today "You purchased bitcoins" (I didn't) on 11/22 for the same amount.

I guess I shouldn't really complain because the price is higher than when I sold, but this kind of weird stuff happening in my account does not inspire confidence in their service.

What's going on?

[Nolo]

I'm guessing since they missed their target day of yesterday for funding my bank account, it will be atleast Monday until the $ is there?

I wish they would have made a more public statement that they were having liquidity problems. 

Also, I never did get a reply to the email I sent support.

Not too thrilled with my first transaction with coinbase.  I hope they fix these problems, because they certainly make buying and selling coins convenient for US users. 

 

[greaterninja]

All of my transactions up until 11/22/2013 have been on time.   Sometimes the ACH deposits were ~1 business day off, however I am still very satisfied.

I will update on my next withdrawl which is due in 1-2 weeks.

V/R,

GreaterNinja

[aksplace]

All of my transactions up until 11/22/2013 have been on time.   Sometimes the ACH deposits were ~1 business day off, however I am still very satisfied.

I will update on my next withdrawl which is due in 1-2 weeks.

V/R,

GreaterNinja

my withdraws have always been on time or early.

[Aseras]

Coinbase has been having problems since the end of october. I have yet another transaction MIA.

Wonder if they know that by putting a time definite date on transactions and then missing that date that they fall under contract tort and securities laws? It opens them up for consequential damages and breach of contract as well as mail fraud and a whole slew of things.

They are playing with fire and I'm considering pouring some legal gasoline on them.

[goxed]

Got this in the mail today

Code:

Thank you for contacting Coinbase Support! Unfortunately, we are experiencing a tremendous volume of support requests, and have not been able to answer your ticket in a reasonable amount of time.

If you are still experiencing difficulties, simply reply to this email with a note that you still need help (you don't need to re-explain the issue you're experiencing), and we will do our best to address it as soon as possible. If your issue has been resolved please do not reply to this email.

We have been experiencing exponential growth and are quickly expanding our support team to match. Thank you for your patience during this time and for your continued support while we grow!

[thebrit]

Got this in the mail today

Code:

Thank you for contacting Coinbase Support! Unfortunately, we are experiencing a tremendous volume of support requests, and have not been able to answer your ticket in a reasonable amount of time.

If you are still experiencing difficulties, simply reply to this email with a note that you still need help (you don't need to re-explain the issue you're experiencing), and we will do our best to address it as soon as possible. If your issue has been resolved please do not reply to this email.

We have been experiencing exponential growth and are quickly expanding our support team to match. Thank you for your patience during this time and for your continued support while we grow!

I've had it with these Goddamned thieves. Two weeks tomorrow and not a damned thing from them ... apart from the above email.

"Haha, we have your 70 thousand, but we can't be bothered to reply..."

We will see how they like being dragged through court.

[Aseras]

Coinbase has been having problems since the end of october. I have yet another transaction MIA.

Wonder if they know that by putting a time definite date on transactions and then missing that date that they fall under contract tort and securities laws? It opens them up for consequential damages and breach of contract as well as mail fraud and a whole slew of things.

They are playing with fire and I'm considering pouring some legal gasoline on them.

All of mine showed up. Couple days late but fine, still cost me $$. This month, the delays have been horrible and when the price is so volatile that it jumps 10-20% per day the losses are not cool.

I'm sure this is just growing pains and such, but still they need to get their act together. It was awesome a couple of months ago. I'm sure they are swamped. But they also need to provide the service they say they will, on the dates they commit to and to respond to support emails within a reasonable period of time. Having to rant, PM, or hunt someone down on IRC to get answers is not exactly something that's ready for the public or even the average bitcoiner.

That said, they are still light years better than mtgox.

[Nolo]

I received my first withdrawal 1 business day late.  That cost me a little bit, but not terrible.  My second withdrawal is supposed to hit my account on Friday.  I placed it on Monday.  I'll post back letting everyone know whether that time is met or not. 

[tvbcof]

Got this in the mail today

Code:

Thank you for contacting Coinbase Support! Unfortunately, we are experiencing a tremendous volume of support requests, and have not been able to answer your ticket in a reasonable amount of time.

If you are still experiencing difficulties, simply reply to this email with a note that you still need help (you don't need to re-explain the issue you're experiencing), and we will do our best to address it as soon as possible. If your issue has been resolved please do not reply to this email.

We have been experiencing exponential growth and are quickly expanding our support team to match. Thank you for your patience during this time and for your continued support while we grow!

I've had it with these Goddamned thieves. Two weeks tomorrow and not a damned thing from them ... apart from the above email.

"Haha, we have your 70 thousand, but we can't be bothered to reply..."

We will see how they like being dragged through court.

I got the same message on a ticket I had out for a while.  I appreciated that they were monitoring the queue length and trying to do at least something with the resources they currently have available.

I dunno who here has actually worked in a start-up, but even if one obtains the resource to staff up and has a distinct need to do so, it's not something which can be done overnight.  This is especially true if one is trying to hire for people who will have access to customer financial information which is especially sensitive.

My ticket outlining my request sits in their queue.  I can refer to it efficiently by number if any problems arise and I need to do so.

[tvbcof]

Datapoint:

Made two 10 BTC sales over the weekend (or perhaps one on Friday...to lazy to look.)  The estimate date of deposit was Friday.  I noticed that one of them went in today (Wed.)  So this one beat the estimate by several days.

[thebrit]

Datapoint:

Made two 10 BTC sales over the weekend (or perhaps one on Friday...to lazy to look.)  The estimate date of deposit was Friday.  I noticed that one of them went in today (Wed.)  So this one beat the estimate by several days.

Datapoint .... two weeks exactly and STILL nothing. Four transactions, three people, three different accounts totalling $70,000.

Datapoint ... today the transactions would be worth about $200,000.

Suspicious much?

[tvbcof]

Datapoint:

Made two 10 BTC sales over the weekend (or perhaps one on Friday...to lazy to look.)  The estimate date of deposit was Friday.  I noticed that one of them went in today (Wed.)  So this one beat the estimate by several days.

Datapoint .... two weeks exactly and STILL nothing. Four transactions, three people, three different accounts totalling $70,000.

Datapoint ... today the transactions would be worth about $200,000.

Suspicious much?

Yes, but when someone has such severe problems and other people don't seem to, a lot of times it makes me wonder if something tripped a flag for said user.  I get every sense that Coinbase is attempting to integrate fully with the mainstream banking system and financial regulatory authorities as a function of their business model.  That happens to be A-OK with me for the business I do with them.