Consumer complaint received 2018-02-06
Company: Coinbase, Inc.
State: AL
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Money was not available when promised

Complaint:
On XX/XX/XXXX, I filed a ticket with Coinbase because I noticed that I was unable to access my coins on the XXXX exchange because I had a failed payment notification, therefore Coinbase locked my account. I added a new credit card to the file and payed the outstanding fine of XXXX USD. So, I figured this would fix the problem, but it did not. Everytime I log into Coinbase I get the same message : " Issue with Recent Buys We couldn't complete one of your buys due to an issue with your payment method. Please select a payment method to continue. '' But the amount I owe is XXXX and when I press the make payment button, nothing happens and my account is still locked. 
Mind you, the crypto market is starting to crash and this is the reason why I wanted to sell my coins that were stored on XXXX and get out. I decided to call Coinbase and spoke to a customer service representative who literally said, " There is nothing I can do. A specialists will get to it when they get to it. '' So, I was extremely upset to hear this from a company that made XXXX XXXX USD in transaction fees last year. The next day I call Coinbase yet again and talk to a female customer service rep. The lady was very very rude to me and uncaring of my situation despite me losing around 2,000 USD at the time. I asked to speak to a manager and she said he was in a " meeting. '' So I said let me speak to who is in charge of him and she said that there was no one that I could talk to about my situation and she only had one supervisor. I was extremely XXXX at this point. So, a couple days go by and I am still unable to access my funds. So I created another support ticket through Coinbase and got this response on XX/XX/XXXX : " Hello there, Thank you for contacting Coinbase Support. I apologize for the delay in responding to your email and for all the trouble. 

Ive taken a look at your account and it appears that you are not currently eligible to create a purchase order. This restriction may have been applied in error. 

Ive just escalated your case to our subject experts who will be completing a review of your purchasing eligibility shortly. 

You will receive a notification email if were able to restore your purchasing ability. Please note that while these reviews are typically completed within 4-5 business days, it can sometimes take longer depending on our current case volume. 

For security reasons, Coinbase can not guarantee eligibility for every account. If your account has experienced chargebacks in the past this, as an example, can impact your eligibility. 

Thank you for your patience and understanding as we complete this review. You may also check our support website at https : //support.coinbase.com/ for more issue resolution in the future. 

Best, XXXX Coinbase Customer Service Representative You may also check our support website at https : //support.coinbase.com/ for more issue resolution in the near future. 

Best, XXXX Coinbase Customer Service Representative '' Now it's XX/XX/XXXX, I have lost probably close to 8,000 USD and the market is just tanking and I have no access to my coins that I rightfully purchased with my own money and Coinbase is refusing to let me access MY OWN MONEY. This is by far the most unprofessional company I have dealt with in regards to handling people 's hard earned money. I am so depressed right now! I have lost most of my life savings because Coinbase literally can't get their act together. Please help me get my money back!

Company response to consumer: Closed with explanation