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Author Topic: Coinbase late paying  (Read 957 times)
btcprice
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November 23, 2013, 07:14:45 AM
 #1

I sold some bitcoins through Coinbase for a 1% fee. They stated they would have my deposit sent yesterday. No deposit has been made to my bank.

I have asked for their 1% fee to be returned to me since they have not delievered as promised. I refuse to pay for a service that does not pay when they state they will. They are costing me much more than the 1% fee in lost revenue.

Which system pays on time? I will gladly refuse service to Coinbase to go to a service that pays when promised.
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bitcoinlord
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November 23, 2013, 10:20:42 AM
 #2

I didn't have any issues with Coinbase. I sold my BTCs there...2 days deposit to my bank account.

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November 23, 2013, 10:43:50 AM
 #3

I sold some bitcoins through Coinbase for a 1% fee. They stated they would have my deposit sent yesterday. No deposit has been made to my bank.

I have asked for their 1% fee to be returned to me since they have not delievered as promised. I refuse to pay for a service that does not pay when they state they will. They are costing me much more than the 1% fee in lost revenue.

Which system pays on time? I will gladly refuse service to Coinbase to go to a service that pays when promised.

even after they send it, it should take a couple days to xfer from bank to bank depending on which bank you have.
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November 23, 2013, 02:57:11 PM
 #4

sometimes it can be stuck for 1-2 additional days when they are using
an intermediate bank

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btcprice
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November 23, 2013, 05:10:38 PM
 #5

Thanks for the feedback guys.
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November 24, 2013, 02:28:34 AM
 #6

sometimes it can be stuck for 1-2 additional days when they are using
an intermediate bank

The statement says "Payment will be sent to ____ by Friday Nov 22, 2013." I'm taking it by your post that they send it by that certain date but it's sent through intermediate banks which could take 1-2 additional days.

I realize they can't control the intermediate banks. I just wish they would put in a notice stating something like "actual delivery to your bank could take 1-2 additional days to go through an intermediate payer". Otherwise people are expecting it on the date that is listed.
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November 24, 2013, 02:34:37 AM
 #7

When you interface with fiat and the dinosaur banks you get what you get.  We bitnerds can see how everything could be instant and we want it that way, understandable, but the banks have had a monopoly in their sphere for so long they don't give a flying fuck what the customer thinks.  Jesus, you should try and get an international bank wire done.  It is literally like they don't care.

tldr, not coinbase fault

fuck banks

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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November 24, 2013, 04:04:14 AM
 #8

Whenever there is a positive fluctuation in BitCoins price this section of the forum is filled with topics regarding Coinbase,The "This looked High risk" can't be ever dealt with and they can always claim they made a little mistake,but this reveals some of the unethical business practices they do.
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November 24, 2013, 07:08:43 PM
 #9

When you interface with fiat and the dinosaur banks you get what you get.  We bitnerds can see how everything could be instant and we want it that way, understandable, but the banks have had a monopoly in their sphere for so long they don't give a flying fuck what the customer thinks.  Jesus, you should try and get an international bank wire done.  It is literally like they don't care.

tldr, not coinbase fault

fuck banks

Even the fiat banks will post an entry in my ledger of "Processing" when they receive notice that money is to be deposited. When I buy groceries or gas I get the notice instantly. There is none of this in my online bank statement for the Coinbase deposit.

Coinbase is an American financial institution. As such they should not have to go through intermediate payers. They should be able to deposit with American banks directly.

What happens if an intermediate payer has problems? Are they willing to guarantee all monies to people who may not get paid if an intermediate payer goes under with users' monies?
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November 25, 2013, 11:40:11 PM
 #10

Just thought I would update this thread. I received the deposit in my bank account today. I requested funds on 11/20/13, was told the funds would be deposited 11/22/13, received the funds 11/25/13.
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August 30, 2014, 02:07:28 PM
 #11

When you interface with fiat and the dinosaur banks you get what you get.  We bitnerds can see how everything could be instant and we want it that way, understandable, but the banks have had a monopoly in their sphere for so long they don't give a flying fuck what the customer thinks.  Jesus, you should try and get an international bank wire done.  It is literally like they don't care.

tldr, not coinbase fault

fuck banks

In a way Jojo69 I understand what you are saying, but also have to correct you.  I am a gemstone dealer in Bangkok, Thailand and I regularly deal with international wires.  They are fast and flawless.

On the other hand, I have reservations about Coinbase.  They are four days late paying me, and promises don't pay my suppliers or the people who make my jewelry.  They represent on their site that they will pay you on XYZ day, but don't count on it.  There are always a million excuses, but if you can't give me my money on XYZ date, don't pretend like you can.

Giving us the fee back and an extra "incentive" is again very nice, they surely want to make a good impression on new clients and don't want to see their business washed down the drain as customer confidence falls in Coinbase. But again, good intentions don't pay my employees or suppliers.  Money does. 

If you can't provide a service don't pretend that you can.

David Fortier
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August 30, 2014, 06:34:48 PM
 #12

Their customer support leaves a lot to be desired.  Mostly a lot of jumping through hoops but no real answers.

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