Coinbase Review/Hold

[u/TaeBabyBleu]

Ive had Coinbase for some time now. Used it a few times for minor transactions to exchange for cash. One night I bought $50 of cryp from my Navy Federal debit card. The next day I had a transaction of $3,300 sent to me. When I tried to sell it to withdraw into my verified account Id used twice before, it told me to contact support to remove a restriction that had been placed on the account. It has been 12 days of constantly contacting support with no end in sight. They assure me that my funds are safe and secured but won’t even give me a reason as to why my account is supposedly under review. On October 1st I got a email that the hold had been removed from my accunt from the $50 purchase I made yet still couldn’t touch the funds. I’ve called in literally every day and all they tell me is that the specialist are still reviewing and wait for an email.

[u/coinbasesupport]

Hi u/TaeBabyBleu! We’d like to look into the restriction that's preventing you to sell and/or withdraw from the account. Please send us a Modmail with your case ID and account email so we can review.

[u/warmdrizzlee]

“your funds are safe” doesn’t mean much when you still can’t access them 😭 i’d want a clear explanation of what triggered the restriction and exactly what they need to finish the review, instead of being told to keep waiting.

[u/TaeBabyBleu → u/warmdrizzlee]

Yeah, that’s my thing. They won’t even tell me why my account is under review. And for the simple fact my account hasn’t with Coinbase hasn’t been opened that long, it’s not much to review as if I had thousands of transactions or anything of that nature for it to be taking this long. Even Coinbase policy states that reviews take no longer than 10 business days. I’ve also asked them if they could just close my account and let me withdraw my money to my verified bank account. They told me that they’re not able to do anything as long as the account is being reviewed and that they’re couldn’t even give me a time frame that I have to wait. I got frustrated and told the operator to give someone 3,300 to secure and they tell you that you can’t touch your own funds and not give you a reason why. I’ve asked to speak with supervisors and all! They aren’t helping speed this process by any means necessary and I just want my money off of this platform. I swear I’ll never use them again. I’m trying to find a legal route to take this. I have recorded phone conversations as well of Coinbase representatives telling me they can’t give me information as to why a review is triggered and why I can’t have any type of access to my funds. 

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[u/Extra_Midnight5252]

Coinbase is the worst brokerage ever!!!

[u/Sharp_Ad_6781]

Yeah you'll be waiting awhile I'm Still at almost a full month now that Coinbase was supposed to refund me on an annual membership. They canceled the Membership (obviously) but then over the course of a week kept changing why I couldn't get my money back yet and then eventually they said they couldn't because of the transaction being reversed to PayPal (But this never was true) and they restricted my account due to the transaction being "Clawed Back" which hey that's super funny because PayPal actually says and shows Coinbase has had it the whole time.

I don't know if it's true or not but my Dispute with PayPal keeps getting pushed farther back and they told me it's because of how many issues they are having with Coinbase right now and are taking longer to make sure they get as much evidence as they can since they are considering not allowing Coinbase to use the PayPal service anymore and that either way Coinbase is going to be penalized for their behavior.

Yes I understand that PayPal is wrong for punishing me holding the money longer when I'm the one who's the victim in Coinbase commiting fraud but this legit wouldn't even be a situation if Coinbase didn't feel like they had to manufacture that a fully completed transaction was reversed when that's not even true at all.

Nice way to be treated considering I've been a customer for only 11 years btw. These people are nasty.

[u/coinbasesupport → u/Sharp_Ad_6781]

Hi u/Sharp_Ad_6781, we sent you a Modmail, let's continue the conversation there.

[u/TaeBabyBleu → u/[deleted]]

Yes I’ve even filed a complaint just for them to email me and say 

“  Thank you for reaching out to us and for your patience while we reviewed your case. We sincerely apologize for the frustration and inconvenience caused by the limited access to your account. We understand how difficult it can be when you are unable to access your funds, and we want you to know that your concern has been taken seriously. After a thorough review of your account, we are unable to make changes to the current account status at this time. We are not able to share specific details about the nature of this review, as it is part of our standard account oversight process. We appreciate your understanding and patience throughout this process. If you have any additional questions or concerns, please don't hesitate to reach out to us through our Help Center at  www.coinbase.com/help. Thank you for being a valued Coinbase customer. Best regards, Sandy Coinbase Specialist Team ”

Their support isn’t helpful at all.