Coinbase, Inc

Complaint: [redacted]I am rejecting this response because:
It has been months since this problem occurred. Please promptly make the necessary adjustments as soon as possible. Thank you for your prompt action. Sincerely,[redacted]

We contacted Mr. [redacted] about his account in case 1351714. In that case we let Mr. [redacted] know we were missing some documents for his business and we needed him to complete that before we can move forward. Once we have these documents, we can review them and move forward from there. Here is...

the email that was sent out:
 
Hello again,
Unfortunately as the available limits for the Coinbase account were too low at the time these three payments were received, these payments were not converted to USD automatically (Instant Exchange) and they were not sent to your bank account either. We've sent the Bitcoins back to your BTC wallet in your Coinbase account '[redacted]' and you can Sell them to your USD wallet up to your weekly limit, or send the Bitcoin to an external Bitcoin wallet.
Your current Buy and Sell limit using the USD wallet is set to $15,000 per week, but in order to be able to apply for Wires, or apply for higher limits (bank transfer limits, or higher Buy/Sell limits) we need you to complete a Business profile for this Coinbase account, as it is a Merchant account but it has no Business profile setup.
You need to go to this page[redacted] choose the Business account type and then complete the Business form here[redacted]
Your Business profile will be reviewed and you will then be able to link a corporate bank account, continue using the Merchant Tools to accept Bitcoin payments (that can either be kept in Bitcoins or instantly exchanged to your local currency and deposited to the USD wallet within your available limits), and we will also be able to ask a specialist to review your limits or the Wire bank support.
I am sorry for the issues this is causing for you. If you need help completing your Business profile or further assistance with anything else, please let me know.

Hi Mr. [redacted],
Thanks for writing in. We're very sorry to hear that the wrong Chase account number was entered when attempting the withdrawal. In these situations, it can take a few weeks for the funds to be returned to the source. We assure you that we're working hard to get the funds back to your Coinbase USD wallet. Once the funds are returned, you can make a withdrawal to the correct Chase account. Thank you so much for your patience.

We contacted Mr. Thanki through cases [redacted] and [redacted] regarding his account. He violated terms of his user agreement. Under "General Use, Prohibited Use and Termination". https://www.coinbase.com/legal/user_agreement
Here is the full email he was sent:
Hello,
Thank you for your...

interest in Coinbase. Our primary goal is to make our platform safe and secure for our customers. Coinbase is a regulated Money Services Business under FinCEN (FinCEN.gov), and as part of our responsibility, we are legally obligated to implement regulatory compliance mechanisms.
We regret to inform you that we are no longer able to support your Coinbase account as well as any other accounts you may have created. Please note, we have not blocked access to the balance currently in your Coinbase account; while we can no longer process brokerage orders via our banking relationship, you may still send your balance offsite to an external address.
There are a variety of factors which have been weighed in your case, and we unfortunately are unable to elaborate on our internal decision process. Please know that we do not make these decisions lightly, and do regret losing you as a customer.
We wish you all the best in your future endeavors.

Complaint: [redacted]I am rejecting this response because:Date Sent: 9/11/2017 11:47:59 AM
Complaint: [redacted]Thank you.
As the case has been open for more than 3 months already, could you give me a date by which the case should be resolved?
Should it take another week, another 3 months, or perhaps a year?
Please let me know what to expect.
Sincerely,[redacted]Sincerely,[redacted]

Complaint: [redacted]
I am rejecting this response because:Can you please have someone actually read the complaint here. Coinbase keeps responding with generic BS. I have calculated that they owe me ~1500 USD. They need to provide their lawyers information if they refuse to refund me the $1,500. This could have been avoided if they responded back and fixed my account in a timely manner. However it is now past a month later and they still haven't responded to my emails. Here is the situation that they keep ignoring to respond specifically too. Because of the fraud they allowed on the 21st of June, their "system" froze my USD account over $9 deficit their system caused. This freeze would not have been an issue if they would have WARNED Users that their account's would be frozen after they let some fraud their marketplace. OR EVEN IF THEY WOULD HAVE TAKEN THE $9 there system wrongfully said we owed, and then unlocked our funds. But no, they froze the funds for weeks. NO WARNINGS, instead, they easily let me deposit ETH, convert it to USD with ZERO WARNINGS and no issues at all. However, when I went to buy back the 30 ETH that I converted to USD, their system would not let me. It froze my USD funds illegally and wouldn't let me use the funds for WEEKS!. They wouldn't respond to support emails, tweets and etc. They can state that they reserve the right not to let users use their exchange system, however this does not apply here. I could have easily withdrawn the USD via wire and bought the 30 ETH in another marketplace/exchange. However, they chose to instead illegally hold my USD funds and I couldn't do anything. The plan was to buy back 30 ETH at under 260/coin, then if they looked at my trading history, and I was going to sell the 30ETH at over 300/coin (they can see that I sold out all ETH I had at 317ish). Effectively netting 40-60 dollars per coin, therefore, they owe me $1200-$1800 over lost income. Again, they could have fixed this issue asap, instead chose too still do nothing, even months later.
Sincerely,
[redacted]

Revdex.com:
I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me.However, customer support response times need to be drastically improved. This is a serious concern as evidenced by reading the countless other complaints, which I do not think the business is making an adequate effort to address, and lowers trust in this company for consumers such as myself.
Sincerely,
[redacted]

Hello Mr. [redacted],
 
I apologize our delay in responding to your support request! We are working on expanding our support team to match the incredible growth of our customer base over recent months. We definitely appreciate your patience while waiting on our response. In regards to verifying...

your ID, in some cases, we require additional verification to meet compliance and security obligations. One of our support team members has followed up with you in support case #[redacted]. If you are still having trouble completing this verification or accessing your account, please reply directly to that support case and we are more than happy to assist! Thank you once again for your time and patience!

Mr. [redacted] was contacted about his account in case: [redacted]. We needed some more information to approve his ID in our system. After we received that info, we manually approved his ID and his account was unlocked and he was all set. This is the email that was sent to Mr. [redacted]:
 
Thanks for...

hanging in there, [redacted], and sorry for our late response.
I've manually approved your ID based on the proof of US residency you were able to provide.
You should be able to full, normal access to your Coinbase account at this time.
Please let me know if you need anything else and thanks for being so patient with us while we reviewed your account.

Hello Mr. [redacted],
 
First let us offer an apology for the trouble with your vault withdrawal! We understand the importance of having access to your funds. One of our support team members has followed up with you beginning on June 17th, 2017 in support case #[redacted], and it looks like you have...

been able to successfully withdraw the funds from your vault. Thank you for your time and patience! If you have any further questions regarding this, please reply to that support ticket and we are happy to help!

My coinbase email would be [redacted]
[redacted]

Complaint: [redacted]I am rejecting this response because:
Date Sent: 7/26/2017 7:39:18 PM
Complaint: [redacted]I am rejecting this response because:
They asked me to create new account, which I did and I FINALLY because of the Revdex.com and The Pressure from the Revdex.com received my BitCoins BUT nothing in my new account works and it also has my credit cards and bank account tied up. I truely are beginning to hate that I EVER SIGNED UP TO COINBASE.  WORST COMPANY TO DEAL WITH EVER!!!! BEWARE if you are thinking of doing business with COINBASE, DON'T.
COINBASE RELEASE MY ACCOUNTS AND FIX MY NEW ACCOUNT!
Thank you Revdex.com
Sincerely,[redacted]
Sincerely,[redacted]

Hello Mr. [redacted], I am sorry for the issues you were having accessing your account and for the delay of a customer support agent getting back to you in a timely manner.It looks like there were some funds owed on the account for a past transfer (back in May 25th). Our system was attempting to...

process these funds and was having trouble finalizing everything. But it looks like the funds have been cleared and there are no other blocks on your account, so you should be all set.We also contacted you about your account (after a delay) in case [redacted] letting you know as well. If you run into any further problems, please let us know and we can look into the matter further.Again, I am sorry for the troubles regarding your account.

Hi Mr. [redacted]
Thank you for contacting Coinbase. We can confirm that your case is in the appropriate queue to be reviewed. We will respond to you in Case No. [redacted] as soon as we have an update. We appreciate your patience and understanding while we work through a higher than normal volume of...

support requests. Thank you!

Complaint: [redacted]I am rejecting this response because:
1) ON THE GDAX SITE, UNDER DEPOSIT, UNDER WIRE > POST THIS DAMN MESSAGE AND YOU WILL AVOID THIS MAJOR HASSLE WITH CUSTOMERS:
"Incoming wires must be SAME DAY ONLY. 1 Day or 3 Day wires (ACH) will not be accepted."
PUT THAT MESSAGE IN BOLD RED LETTERS IN THE SECTION DESCRIBED ABOVE SO OTHERS DON'T FALL INTO THIS MONEY TRAP!   100% YOU NEED TO DISPLAY THIS SIMPLE MESSAGE.
 
2) THE FIRST COINBASE RESPONSE SHOULD HAVE TOLD ME THAT I NEED TO INITIATE THE REVERSE TRANSACTION THROUGH MY BANK. THE REPLY I GOT WAS THAT THE COINBASE REP WOULD PUT IN A REQUEST TO THE COINBASE DEPT TO RESEARCH AND RETURN THE MONEY. [redacted] THIS IS WRONG ACTION, WRONG ANSWER. [redacted] COINBASE REP SHOULD HAVE TOLD ME THAT MY BANK SHOULD MAKE THE REQUEST. 
SO MUCH TIME WASTED AND I AM IN NEED OF THAT MONEY. 
I HAVE ESCALATED IT WITH MY BANK. METROPOLITAN SHOULD GET REQUEST WITHIN 2 DAYS. IF THIS IS NOT RESOLVED SOON, I AM DEFINITELY CALLING THE SAN FRAN POLICE. 
Sincerely,[redacted]

Complaint: [redacted]I am rejecting this response because:My Account is still in the same situation it was in before. Nothing has been resolved. This is the 3rd month I've been waiting for Coinbase to fix this issue, and nothing has been done.Sincerely,[redacted]

Complaint: [redacted]I am rejecting this response because: try to reset password that did not work so I can't access my account in any way so I have 2 problems none have been solved Sincerely,[redacted]

Hi Mr. [redacted], Thanks for writing in. We're sorry to hear that buys are temporarily restricted on your account. It looks like the system did not recognize the name on your ID to match your legal name. We can confirm that your case has been escalated to our fraud team for review. Once they have...

an update, they will reach out to you in Case No. [redacted]. Thank you so much for your patience!

Hi Mr. [redacted]
Thanks for your response. We last emailed you a few weeks ago with a resolution on 10/12/17, but have yet to hear back from you. If this matter is resolved, please disregard this message. If this issue is still outstanding, please respond to Case No.[redacted] with details of the issue so that our support agent can assist. We need a written record of any requests for reimbursement logged through our support channels -- thank you for your cooperation!

Revdex.com:I have reviewed the response made by the business in reference to complaint ID [redacted], and find that this resolution is satisfactory to me. Sincerely, [redacted]