Consumer complaint received 2025-04-09 00:00:00
Product: Checking or savings account — Checking account
Issue: Managing an account — Deposits and withdrawals
Company: Coinbase, Inc.
State: FL

Complaint narrative:
I am filing this complaint to formally address a series of unresolved issues with Coinbase that have significantly impacted my access to and management of both my cryptocurrency and XXXX assets. Despite multiple attempts to resolve these matters through Coinbases customer support channels, my account remains unjustly restricted, leading to financial losses and undue stress. 

Detailed Explanation : On XXXX XX/XX/year>, I deposited {$40.00} into my Coinbase account utilizing their instant deposit feature, which allows immediate use of funds. 
Subsequently, Coinbase attempted to withdraw the {$40.00} from my linked bank account. However, due to unforeseen circumstances, this withdrawal was unsuccessful, resulting in a negative balance in my Coinbase account. 
Upon discovering this on the XXXX of XX/XX/year>, I promptly followed the in-app instructions to re-initiate the payment, and the {$40.00} was successfully withdrawn from my bank account on XXXX of XX/XX/year>. 
Despite rectifying the negative balance, I observed that my Coinbase account remained restricted. 
The restriction has rendered me incapable of accessing or managing my assets, including both cryptocurrency holdings and XXXX currency stored within the platform. 
This limitation has also affected my ability to utilize the Coinbase XXXX card, which I rely on for daily transactions. 

I engaged with Coinbases in-app chat support to seek resolution. Despite providing detailed explanations and evidence, including bank statements confirming the {$40.00} withdrawal, the support agents were unable to lift the account restrictions. 
Attempts to escalate the matter by requesting managerial intervention were met with refusals, and on one occasion, the call was prematurely terminated by the support representative. 
I also contacted the phone number provided on the back of my Coinbase XXXX card ; however, I was informed that they could not assist with account-related issues. 
4. Financial and Emotional Impact : As of today, XX/XX/year>, my account remains restricted, with Coinbase indicating that the restrictions will persist until XX/XX/year>. 
During this period, I have been unable to manage my cryptocurrency holdings, which have experienced a decline in value due to market volatility. 
The inability to access my funds has caused significant financial strain and emotional distress. 

Resolution Sought : I respectfully request the following actions from Coinbase : 1. Immediate Action : The prompt lifting of all restrictions on my Coinbase account to restore full access to my assets and account functionalities.

2. Comprehensive Review : A thorough examination of my account to identify and rectify any underlying issues that led to the unjust restrictions. 
An explanation detailing the reasons for the prolonged restriction despite the resolution of the initial negative balance. 
XXXX. Compensation : Appropriate compensation for the financial losses incurred due to the inability to manage my cryptocurrency holdings during the account restriction period. 
Compensation for any fees or penalties resulting from the inability to utilize the Coinbase XXXX card for transactions. 
XXXX. Customer Service Improvements : An internal review of Coinbases customer service protocols to address the challenges faced in seeking assistance. 
Implementation of measures to ensure that customers have access to timely and effective support, including escalation procedures to managerial staff when necessary. 

I believe that these steps are essential to rectify the current situation and to prevent similar occurrences for other customers in the future. I appreciate your attention to this matter and look forward to a prompt and fair resolution.

Company response to consumer: Closed with explanation