GDAX put my deposit on hold...

[thegoatiest]

Hi,
I've used Gdax for about a year.
My deposits in fiat are normally - instantly credited once 'Coinbase has received my deposit'
I use bank transfer and live in the U.K

However, this time - firstly it failed and said the 'details are out of date, use up to date information'
So I added the SEPA address again, sent the deposit, again.
This time i got the email; 'deposit successful' , followed by; 'Funds on hold'

No reason why. It said I can't withdraw the funds or crypto purchased with for several days (weird seeing as I'm the one to deposit the funds xD)
But now, I can't buy any BTC as coinbase won't give me my money...

I've contacted customer support nothing,,, and their phone number says - they won't talk to you, email them if you have this problem.

-
FU coinbase.

It's been 2 days, normally it's instant... and i've never had funds on hold.
Any idea what's up?
thanks,

[feryjhie]

based on their faq

What does funds on hold mean?
“Funds on Hold” are funds you have recently used to purchase digital assets but have not cleared and been deposited into your Coinbase account. Until your pending funds clear from your bank, you cannot withdraw them from Coinbase, or send any digital assets that you purchased using pending funds.

How long does it typically take for pending funds to clear?
Pending funds typically take about 5 business days to clear.

Please note that Coinbase cannot manually clear your funds. Clearing times are subject to increase based on account type and activity.

based on their faq that it will take up to 5 business days for your funds to clear

[thegoatiest]

But I can't even purchase crypto with the pending funds, as they haven't been credited into my account. My balance is still £0.00
If they'd let me buy bitcoin but not withdraw it - that'd be fine by me.
But they're just sitting on my money..

[gentlemand]

I've read that they've put a five day delay on moving money from Coinbase to Coinbase Pro with this rally, presumably to force you to pay their higher fees. Perhaps you've been caught up in that?

And this thread - https://www.reddit.com/r/CoinBase/comments/bnxq13/coinbase_is_it_true_that_youve_switched_banks/ is theorising they've gone back to Estonian banking which would not be very useful. I can't see mention of it anywhere else.

If you flick through that forum there are a lot of UK problems. Something's going on.

Edit - https://www.reddit.com/r/CoinBase/comments/bn2cq8/coinbase_denying_my_gbp_deposit_ever_took_place/  that's saying Coinbase Pro's banking has reverted to Estonia.

[Ailmand]

I've read that they've put a five day delay on moving money from Coinbase to Coinbase Pro with this rally, presumably to force you to pay their higher fees. Perhaps you've been caught up in that?

And this thread - https://www.reddit.com/r/CoinBase/comments/bnxq13/coinbase_is_it_true_that_youve_switched_banks/ is theorising they've gone back to Estonian banking which would not be very useful. I can't see mention of it anywhere else.

If you flick through that forum there are a lot of UK problems. Something's going on.

Edit - https://www.reddit.com/r/CoinBase/comments/bn2cq8/coinbase_denying_my_gbp_deposit_ever_took_place/  that's saying Coinbase Pro's banking has reverted to Estonia.

But I can't even purchase crypto with the pending funds, as they haven't been credited into my account. My balance is still £0.00
If they'd let me buy bitcoin but not withdraw it - that'd be fine by me.
But they're just sitting on my money.

You couldn't purchase anything when they put your funds on hold. Try to wait until you reach the given day. Never tired of contacting their support team. Try to send proof like screenshots of your failing transactions for them to fix it faster. If nothing happens, then there might be a problem within Coinbase.

[Harlot]

But I can't even purchase crypto with the pending funds, as they haven't been credited into my account. My balance is still £0.00
If they'd let me buy bitcoin but not withdraw it - that'd be fine by me.
But they're just sitting on my money..

I think the term "funds on hold" should be pretty understandable by now it wouldn't even be in hold if you still have full access with the funds you have deposited. To be perfectly clear for you it's not on Coinbase's end on the reason why your funds are still pending to your account. It's your bank's fault for the reason of the delay and it may take up to 5 days before it will be cleared on their end.

[thegoatiest]

I think the term "funds on hold" should be pretty understandable by now it wouldn't even be in hold if you still have full access with the funds you have deposited. To be perfectly clear for you it's not on Coinbase's end on the reason why your funds are still pending to your account. It's your bank's fault for the reason of the delay and it may take up to 5 days before it will be cleared on their end.

actually.... they don't mention you will not be able to use your deposited fiat to purchase any crypto for several days, anywhere in that faq above. Nor in the messages I've received.

Bit.....   I won't be using them in future.
I mean if i could cancel the deposit, then repay with debit card - I would!! but the money has left my account. and is with coinbase.

Coincidentally, they've just removed my deposit limits by credit/debit card.

----
Edit:
So they are in my coinbase.com account - but i can't transfer them into Pro.coinbase. for 5 days. i think. Which renders it useless as no trading tools...
In GDAX under deposit GBP and in my coinbase wallet tab I have;
Your Holds
Total balance: £xxx
Funds on hold: £xxx
Available to deposit: £0

Just isn't available but it's there.

[Haunebu]

I think the term "funds on hold" should be pretty understandable by now it wouldn't even be in hold if you still have full access with the funds you have deposited. To be perfectly clear for you it's not on Coinbase's end on the reason why your funds are still pending to your account. It's your bank's fault for the reason of the delay and it may take up to 5 days before it will be cleared on their end.

actually.... they don't mention you will not be able to use your deposited fiat to purchase any crypto for several days, anywhere in that faq above. Nor in the messages I've received.

Bit.....   I won't be using them in future.
I mean if i could cancel the deposit, then repay with debit card - I would!! but the money has left my account. and is with coinbase.

Coincidentally, they've just removed my deposit limits by credit/debit card.

----
Edit:
So they are in my coinbase.com account - but i can't transfer them into Pro.coinbase. for 5 days. i think. Which renders it useless as no trading tools...
In GDAX under deposit GBP and in my coinbase wallet tab I have;
Your Holds
Total balance: £xxx
Funds on hold: £xxx
Available to deposit: £0

Just isn't available but it's there.

Did not expect something like this from something as popular as Coinbase though I am still not sure if it is completely their fault. You can only play the waiting game currently since there is not much you can do apart from contacting their support staff again and again.

[BitHodler]

Did not expect something like this from something as popular as Coinbase though I am still not sure if it is completely their fault. You can only play the waiting game currently since there is not much you can do apart from contacting their support staff again and again.

Coinbase is by far the most regulated and US government ass-kissing exchange in the crypto sphere, but whatever happens outside the US is a completely different story unfortunately.

People in Europe haven't really been treated well by Coinbase in the last couple of years, which is why a lot of Europeans choose to use Bitstamp and Kraken instead, so OP is better off using one of these exchanges.

[Lakai01]

People in Europe haven't really been treated well by Coinbase in the last couple of years, which is why a lot of Europeans choose to use Bitstamp and Kraken instead, so OP is better off using one of these exchanges.

I second this. As an European I would nowadays never use an exchange based outside the EU again. You dont know what comes around the corner with all those regulations, SEC investigations and so on especially in the US. The EU offers some of the best exchanges in my opinion, including Bitstamp, Kraken and Bitpanda. Also bitcoin.de allows trading for EU citizens outside Germany.

[traderethereum]

I think you should give them time to solve your problem.
If after they investigate your account and they don't find any problem, I am sure that they solve your problem.
Maybe you miss something with the deposit, or maybe they are in the maintenance in their website because if they got maintenance, the deposit and withdrawal would be a delay.
You should be patient for a while, it's just 2 days, and I think the other exchange will need more than a week to explain to their users, so you need to calm down.