Consumer complaint received 2017-12-14
Company: Coinbase, Inc.
Product: Money transfer, virtual currency, or money service
Sub-product: International money transfer
Issue: Money was not available when promised

Complaint:
Dear CFPB Attached below is a copy of my correspondence to Coinbase. I have also attached three screenshots of my transaction. Please speak to coinbase and have them allow this transaction to go through, my payment by credit card is supposed to be instant ( as other transactions with coinbase by this method have been ). 

I am getting absolutely no where with them and having researched online, it appears I am not the only one! 

Please help! 

Regards XXXX XXXX Dear Coinbase RE : Outstanding Ticket # XXXX Please note, that if my outstanding ticket ( as quoted above ) is not resolved within the next 24-48hrs, I will have no choice left but to escalate matters to the Consumer Financial Protection Bureau " ( CFPB ) '' for their thorough investigation. 

I firmly believe that 24-48hrs is a respectable timeframe considering my purchase of XXXX LTC ( LiteCoin ) has remained 'Pending ' since XXXX ( GMT ) on XX/XX/XXXX. This purchase was made by Credit Card, which is supposed to be instant. ( You will note from your records that I have made other purchases by this method, and they have all been instantaneous ). 

Background On the XX/XX/XXXX, I had attempted to purchase XXXX worth of LTC ( LiteCoin ).  This would have equated to XXXX LTC. However, my transaction initially failed. I therefore received your email to advise me of such. 

I therefore proceeded with the transaction again for XXXX worth of LTC ( LiteCoin ), for an amount of XXXX LTC. This time, I did not receive any confirmation via email. My transaction is listed as 'Pending ' - Please see the screenshot attached herewith marked 'Screenshot 1 ' as evidence. 

This problem may have arisen as I attempted the transaction literally seconds later, for the same amount. It may have flagged something up on your system for review as per my telephone call with, XXXX ( One of your advisers ). 

Attempts to contact you. 
I have attempted to contact you via several methods such as XXXX, XXXX, XXXX XX/XX/XXXX, and Telephone calls. To no avail. 

I have spoken to one of your advisors, XXXX, on Thursday XX/XX/XXXX, who had advised me that he would 'escalate my ticket ' to a 'specialist ' who would look into this further. I have heard nothing since. 

He advised that it would appear as though my transaction flagged for review as he could clearly see the first attempt had failed, and that my second attempt had gone through as 'Pending for Review ' literally a minute or two later. 

I have made a further call to another of your representatives who advised that she could not say when my issue would be resolved and that XXXX had correctly escalated my ticket. The line cut off. I did not get chance to ask any further questions. 

In addition, I have had no such luck in receiving any form of response from your @ CoinbaseSupport or @ CoinBase XXXX representatives surrounding my issue.

Solution I ask that you PLEASE resolve my issue. I am a fair and understanding individual, but this is now starting to cause me a great deal of distress and inconvenience. 

I therefore reach out to you, and ask that you please resolve my ticket and allow the transaction to go through, as intended. My Bank have confirmed to me on several occasions that there is no problem on their end. 

I feel that if this is not resolved within the timeframe quoted, then I will have little choice other than to escalate to the relevant authorities, namely the CFPB for their assistance. 

I have attached two further screenshots as evidence, and if needed, I can supply my XXXX evidence also to illustrate my lack of support and evidence of my telephone calls. 

Please resolve this issue for me, Coinbase. Please. It should be something simple for you to resolve. 

Best wishes and I hope to hear from you soon. 

XXXX XXXX XXXX

Company response to consumer: Closed with explanation