Consumer complaint received 2017-07-18
Company: Coinbase, Inc.
State: CA
Product: Money transfer, virtual currency, or money service
Sub-product: Virtual currency
Issue: Other transaction problem

Complaint:
Regarding Coinbase, 

Here is an email thread of my issue:

  XXXX   XXXX  , 2017.   XXXX   XXXX   pst

You know,  your service is really starting to suck!

Before you took my money via "Buy" ing on your platform, and would not let me sell.

And still will not.

Now, when I do buy a currency, and I am told I was successful in my purchase, within 5 minutes of my purchase, my buy order is cancelled.

Three time within 24 hours this has happened.

And it has been almost 2 months now since I contacted you all about my selling issue.

What is going on here?

Today, I have submitted a complaint to the CFPB, and I will next forward this email thread to them.



(T)Here for you
On   XXXX   XXXX  , 2017, at  XXXX  Coinbase Support  wrote:

Type your response ABOVE THIS LINE to reply
For; to (do)   XXXX   XXXX  
Subject: Can not sell. Account Restriction
  XXXX   XXXX  , 2017  |   XXXX  PDT   XXXX   XXXX   replied:
Hi there,

Thanks for reaching out. Having investigated the issue, I am working with a specialist to address it properly. We will follow-up with you as soon as we have an update.

Please let me know if the matter develops further as we investigate.

  XXXX   XXXX  , 2017  |   XXXX  PDT 
For; replied:
Thank you

(T)Here for you
  XXXX   XXXX  , 2017  |   XXXX   PDT 
  XXXX   XXXX   replied:
Hi there,

Thanks for reaching out. Having investigated the issue, I am working with a specialist to address it properly. We will follow-up with you as soon as we have an update.

Please let me know if the matter develops further as we investigate.

  XXXX   XXXX  , 2017  |    XXXX   PDT 
For; replied:
You still have not answered my question, nor addressed my problem.

When will an actual person read your support mail.

Will you ever fix the issue causing me not being able to sale my digital currency as I have outlined below?
  XXXX   XXXX  , 2017  |   XXXX  PDT 
 XXXX  replied:
Hello and sorry for our delayed response.

This is an automated email letting you know that we regret that we are not able to answer your email in a reasonable amount of time. As we experience rapid growth, we are also experiencing a high volume of support requests. Increasing our response time and response ability is a top priority for us right now.

Our records indicate that you may be writing in to us to ask about your account limits.

Limits on customer accounts are mostly applied by our automated software, and is based on account status and activity. That being said, our automated system doesnt always calculate limits appropriately. If this is the case with your account, we sincerely apologize.

We definitely want our good customers to be able to buy as much digital currency as they need with us easily. If you feel that your limits are not appropriate for your account, please reply to this email letting us know.

In the meantime, please explore other options you may be eligible for if you want to buy larger amounts of digital currency.

In the US and  XXXX , for example, you can buy larger amounts of digital currency than the limit on your credit or debit card by linking a bank account here: https://www.coinbase.com/payment_methods

For most of our US customers, the best way to buy large amounts of digital currency fastest is to send a wire transfer to your account, which usually posts to your USD Wallet in under 24 hours. If wire transfers are already enabled for your account, you can find all the info you need to initiate a wire transfer from your end by clicking your USD Wallet then clicking Deposit. If you do not see this information, please respond to this message and request that wire transfers be enabled for your account.

Keep in mind that no matter what your region, you can see your current limits and the verification steps required to raise your limits here: https://www.coinbase.com/verifications

Thanks for your understanding as we continue to grow and improve our services.

Regards, 

 XXXX  
The Coinbase Team
How satisfied were you with the quality of service we provided today?
 Poor |  Fair |  Good |  Great
  XXXX   XXXX   2017  |    XXXX    PDT 
For; replied:
My account is still restricted for selling, online and via the app.
  XXXX   XXXX  , 2017  |   XXXX  PDT 
 XXXX  replied:
This is an automated email. As we experience rapid growth, we are also experiencing a high volume of support requests and we regret not being able to answer your inquiry in a reasonable amount of time.

If your issue has been resolved:
Please disregard this message.

If your issue has not been resolved:

Visit our Support Center for solutions to most problems
ID verification
2-Step verification
How long does a buy take?
Change country or state
Sell or cash out
Card verification
Account limits
If you require further assistance, please reply to this message with a note that you still need help.
Thank you for your patience as we grow with the digital currency community.

How satisfied were you with the quality of service we provided today?
 Poor |  Fair |  Good |  Great   XXXX   XXXX  , 2017  |   XXXX  PDT 
For; replied:
Every time I try to sell my currency - either via the App, or Website, I get the message "Account Restricted" . And on the App, I am asked where to Deposit the funds, but nothing is there.

I have contacted you all about this two weeks ago, but have heard nothing back.
  XXXX   XXXX  , 2017  |   XXXX   PDT 
Original message
For; wrote:

Hello,

When I go to the sell tab I am told I can not buy or sell because of Account Restriction.

The same is true when I use the App, but it does not mention any restrictions, I just can not sell.

Why?
This message was sent to  XXXX  in reference to Case #:  XXXX . 
Follow this link to view the status of your case and add additional comments:
  XXXX   

*Important Note on Email Sent to Multiple Recipients
If you send or reply to a message with multiple recipients, any responses to the thread may show up as part of the case history, even if those exchanges aren't directed to you. In essence, the owner of the original message also owns all communication associated with that case, regardless of who the subsequent senders and recipients are. Our suggestion is to make sure that all recipients are aware of this, and that the sending of sensitive information is avoided.
 XXXX

Company response to consumer: Closed with explanation