I’ve used Coinbase for some time, despite reading horror stories on here. Now I have a story of my own to share (apologies for the length, want to make sure I don’t miss anything… tl;dr is at the end):

On Tuesday I purchased an amount of USDC for the purposes of transferring it to Coinbase Pro and buying some BTC. The buy went through, got the email saying it was successful and available for trade (and indeed was able to transfer it to coinbase pro and buy BTC). Then over 6 hours later, I get an email from Coinbase saying that the transaction was canceled… I wasn’t really sure what to do, but the funds were still in my Coinbase account and the transaction history showed that one transaction was canceled, but a second went through successfully.

You can probably guess what happened next. I signed into my bank account today and was presented with a negative balance for the first time in over a decade. Coinbase double charged me. I emailed them and to their credit they responded quickly, but in their reply the unnamed customer support person said, “I’ve reviewed the transaction history on your account and am not seeing any completed transactions matching the ones you’ve mentioned.” I find this very concerning. After providing them with screenshots of my Coinbase account history and the charges on my checking account (including the overdraft fee that was assessed due to their error), the still unnamed rep replied with, “Thanks for reaching out regarding your bank issue. I’m working with a specialist to review the information you’ve provided. We will follow-up with you as soon as we have an update. Please note that while these reviews are typically completed within 4-5 days, it may possibly take longer.”

4-5 days! That’s almost certainly business days, so really we’re talking about a week. I am beyond annoyed. I’m fortunate to be at a stage of my life where I am not overly impacted by this; I had money in another account I was able to transfer to bring things back into the black… but there have been points in my life where this would have been my rent, all my bills, or food for a few months. In the short term, I would like to know if anyone who lives in Washington has first-hand experience with reputable exchanges that operate here where I can buy BTC via ACH transfer from my bank account. In the long term… well, I suppose that depends on the ultimate resolution from Coinbase. I am hesitant to involve government authorities but will do so if necessary (I really hope it is not ultimately necessary). A quick search of this subreddit also suggests that this has happened to many other people as well… One must wonder if affected parties will all join together at some point and do something about it.

tl;dr – Coinbase double charged me. Wants to keep my funds for a minimum of 4-5 (business?) days and have not responded to two direct inquiries about whether they will cover the overdraft fee caused by their mistake. Does anyone know of a reputable exchange that operates in WA state where I can buy BTC via ACH transfer?



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Very Annoyed With Coinbase And Looking For Alternatives For Exchanges That Allow WA State Residents To Buy Via ACH : Bitcoin
Very Annoyed With Coinbase And Looking For Alternatives For Exchanges That Allow WA State Residents To Buy Via ACH : Bitcoin
Very Annoyed With Coinbase And Looking For Alternatives For Exchanges That Allow WA State Residents To Buy Via ACH : Bitcoin
Very Annoyed With Coinbase And Looking For Alternatives For Exchanges That Allow WA State Residents To Buy Via ACH : Bitcoin

Very Annoyed With Coinbase And Looking For Alternatives For Exchanges That Allow WA State Residents To Buy Via ACH : Bitcoin

Very Annoyed With Coinbase And Looking For Alternatives For Exchanges That Allow WA State Residents To Buy Via ACH : Bitcoin