Topic: Coinbase: I can't withdraw my funds via PayPal (Read 267 times)
HI. I am pleased to inform you that the problem has been resolved yesterday. All functions have been restored, including withdrawals to PayPal. Thank you all for reading and giving advice. It wasn't easy to wait but the patience paid off in the end. Thanks again and have a good day.
Do you have ANY judgements / liens against you?
Absolutely not.Meanwhile I received another email telling me what kind of infraction I committed. I won't go into specifics, but I'm simply invited not to commit it again, because my account could be suspended. In fact, the account is now unusable because I still can't buy, send and withdraw. Yesterday I deposited some cryptocurrencies and everything went well. I can also sell them. When that email arrived (in Italian) I thought the problem was finally solved. So I went to withdraw but the feature was always blocked. I wrote to support and was told to wait another 6 calendar days, and only after that, in the absence of a response from them, could I contact them again. In fact, times here are getting longer and longer. In theory they understood (and I understood) why my account is blocked, but in practice nothing changes.
Do you have ANY judgements / liens against you?
Since you are not US based I don't know if this pertains to you, but since someone I know just dealt with this in the US.
More or less he moved and missed a bill that went into collections and the collections people got a judgement against him.
Since he is in NY and we have VERY strict rules about what you can and cannot do the payroll department told the creditor to go away they would not do anything about it, and the same with the NY banks. Coinbase saw it and locked withdraws on a 6 figure account for under $2500. But it took him a lot of time and effort to figure out why because they could not figure out what automated system locked the account. Got to love automation. But it was an annoying couple of weeks for him (And me since I had to hear the complaints)
-Dave
Since you are not US based I don't know if this pertains to you, but since someone I know just dealt with this in the US.
More or less he moved and missed a bill that went into collections and the collections people got a judgement against him.
Since he is in NY and we have VERY strict rules about what you can and cannot do the payroll department told the creditor to go away they would not do anything about it, and the same with the NY banks. Coinbase saw it and locked withdraws on a 6 figure account for under $2500. But it took him a lot of time and effort to figure out why because they could not figure out what automated system locked the account. Got to love automation. But it was an annoying couple of weeks for him (And me since I had to hear the complaints)
-Dave
Typical coinbase when it comes to account closures. They either don't tell their users the reason or be super vague about it but they do give time to withdraw.
Unfortunately it seems they don't always allow withdrawals, according to various complaints on the forums.Now, I wonder: can a company that bases its business on honesty and legality legitimately keep a user's money without allowing him to withdraw it? I mean: do they close many accounts because they don't comply with the regulations and then themselves set a very bad example of legality by withholding users' money? Even if a person, voluntarily or involuntarily, violates some point of the TOS, it is right to close the account without notice because the regulation provides for it: it is the user's responsibility to read it carefully and apply it. But it doesn't seem right at all for the account to be closed with money deposited. And that's what I fear.
Thank you.
7 business days have passed since they started reviewing my account, and nothing has changed. Withdrawals to PayPal are always inhibited. I wrote to the support replying to the last email sent to me. I do not give up. I want my money and I will fight for it. I told them if they have to close my account they can but not before allowing me to cash out my money. Also because keeping an account like this, where I can't do practically anything, doesn't make any sense.
You can fight them, but the result is completely independent of you and your actions. They want - and they will not return anything to you. It is naive to demand to cash out your account. You are not in a stable position and completely at their mercy (your money).7 business days have passed since they started reviewing my account, and nothing has changed. Withdrawals to PayPal are always inhibited. I wrote to the support replying to the last email sent to me. I do not give up. I want my money and I will fight for it. I told them if they have to close my account they can but not before allowing me to cash out my money. Also because keeping an account like this, where I can't do practically anything, doesn't make any sense.
We'll see how it all ends. Keep us updated.
Thank you.
7 business days have passed since they started reviewing my account, and nothing has changed. Withdrawals to PayPal are always inhibited. I wrote to the support replying to the last email sent to me. I do not give up. I want my money and I will fight for it. I told them if they have to close my account they can but not before allowing me to cash out my money. Also because keeping an account like this, where I can't do practically anything, doesn't make any sense.
7 business days have passed since they started reviewing my account, and nothing has changed. Withdrawals to PayPal are always inhibited. I wrote to the support replying to the last email sent to me. I do not give up. I want my money and I will fight for it. I told them if they have to close my account they can but not before allowing me to cash out my money. Also because keeping an account like this, where I can't do practically anything, doesn't make any sense.
Typical coinbase when it comes to account closures. They either don't tell their users the reason or be super vague about it but they do give time to withdraw.
Unfortunately it seems they don't always allow withdrawals, according to various complaints on the forums.Are they simple account closures or there was some sort of investigation on coinbase end like an intrusive KYC for instance.
Just to be clear, I was talking about the former where no further question is asked. Latter is when a user had something to clear on coinbase's end hence is not necessarily about CB closing their service to them/their account.
Some instances I could find thru quick search
https://bitcointalksearch.org/topic/coinbase-planning-to-close-accounts-of-certain-users-on-9th-april-5447410 (also see post #17)
https://bitcointalksearch.org/topic/not-your-key-not-your-wallet-5458063
Now, I wonder: can a company that bases its business on honesty and legality legitimately keep a user's money without allowing him to withdraw it? I mean: do they close many accounts because they don't comply with the regulations and then themselves set a very bad example of legality by withholding users' money? Even if a person, voluntarily or involuntarily, violates some point of the TOS, it is right to close the account without notice because the regulation provides for it: it is the user's responsibility to read it carefully and apply it. But it doesn't seem right at all for the account to be closed with money deposited. And that's what I fear.
I get you and I feel the same. If it were up to me, no exchange should be allowed to keep a user's fund unless supported with a solid evidence e.g. court order which of course have to be properly communicated with the other party. The sad reality is when CEXs do something questionable, best we can do is post about it since lawyer-ing up is a luxury for most people.
Typical coinbase when it comes to account closures. They either don't tell their users the reason or be super vague about it but they do give time to withdraw.
Unfortunately it seems they don't always allow withdrawals, according to various complaints on the forums.Now, I wonder: can a company that bases its business on honesty and legality legitimately keep a user's money without allowing him to withdraw it? I mean: do they close many accounts because they don't comply with the regulations and then themselves set a very bad example of legality by withholding users' money? Even if a person, voluntarily or involuntarily, violates some point of the TOS, it is right to close the account without notice because the regulation provides for it: it is the user's responsibility to read it carefully and apply it. But it doesn't seem right at all for the account to be closed with money deposited. And that's what I fear.
5th business day passed, and nothing has changed. And I wait...
Yeah you're likely stuck with waiting <-> follow up routine. Speaking of follow ups, you may also try through their twitter support, see: https://twitter.com/CoinbaseSupport
In the meantime, I notice on Reddit that many complain of account closures without explanation. All this is quite disturbing…
Typical coinbase when it comes to account closures. They either don't tell their users the reason or be super vague about it but they do give time to withdraw. Over the years, they're continuously closing accounts as well but the scope of affected people this time could be bigger than usual hence we could be seeing more people posting about it.
In the meantime, I notice on Reddit that many complain of account closures without explanation. All this is quite disturbing…
Some of them are quite conflicting with one user claiming one thing while the other claims another. Some speculation suggests that some accounts are closed because the users live in the states that sues Coinbase, although the proof is thin IMO. There is a long thread that basically claims the user account was closed because he uses VPN. It doesn't help that there is no clarity from the Coinbase side either. I guess you can only wait at this point, and consider moving to other platforms/P2P if they are not being helpful.
5th business day passed, and nothing has changed. And I wait...
In the meantime, I notice on Reddit that many complain of account closures without explanation. All this is quite disturbing…
In the meantime, I notice on Reddit that many complain of account closures without explanation. All this is quite disturbing…
I guess that you'll still think of just stop using them to avoid heavier problems in the future.
Honestly I do not know. However, such experiences certainly do not increase trust, on the contrary they undermine it.Well, this problem usually is being done by exchanges and if they're telling you that they will settle it within 5-7 days, more or less, nothing can be done but to wait.
Yes, they told me that after 7 days I could try to withdraw, but there is no guarantee that the withdrawal attempt will be successful.The fact is that my money is in their possession, and at the moment I cannot dispose of it. It's not a nice thing at all. And luckily it's not about large amounts of money with three or four figures. I don't want to think how those customers who keep large amounts of money will feel.
I guess that you'll still think of just stop using them to avoid heavier problems in the future.
Honestly I do not know. However, such experiences certainly do not increase trust, on the contrary they undermine it.Well, this problem usually is being done by exchanges and if they're telling you that they will settle it within 5-7 days, more or less, nothing can be done but to wait.
Yes, they told me that after 7 days I could try to withdraw, but there is no guarantee that the withdrawal attempt will be successful.The fact is that my money is in their possession, and at the moment I cannot dispose of it. It's not a nice thing at all. And luckily it's not about large amounts of money with three or four figures. I don't want to think how those customers who keep large amounts of money will feel.
Did you read here?
https://www.reddit.com/r/CoinBase/
Many users have the same problem as me. However, unlike them, I have not received any email about closing the account. We have in common that we cannot withdraw in any way.
I am getting this error upon checking their sub-reddit.https://www.reddit.com/r/CoinBase/
Many users have the same problem as me. However, unlike them, I have not received any email about closing the account. We have in common that we cannot withdraw in any way.
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upstream connect error or disconnect/reset before headers. reset reason: overflow
However, I happen to see those complains and access it and yeah, they're common as yours for unable withdrawals but if you don't have that email of discontinuing your account. I guess that you'll still think of just stop using them to avoid heavier problems in the future.
It seems that you're not alone posting these complains and everyone is having their share with what they're experiencing for their withdrawals. Well, this problem usually is being done by exchanges and if they're telling you that they will settle it within 5-7 days, more or less, nothing can be done but to wait.
Did you read here?
https://www.reddit.com/r/CoinBase/
Many users have the same problem as me. However, unlike them, I have not received any email about closing the account. We have in common that we cannot withdraw in any way.
https://www.reddit.com/r/CoinBase/
Many users have the same problem as me. However, unlike them, I have not received any email about closing the account. We have in common that we cannot withdraw in any way.
I checked that, some users got varying penalty levels.
If I were to interpret the reason for the suspension as "violating coinbase standards" which has yet to be stated, I think the opinion of some of the user comments there is correct that Coinbase appears to be doing a massive user screening and promptly taking appropriate action if it is potentially disadvantageous to their position to face SEC lawsuits.
Did you read here?
https://www.reddit.com/r/CoinBase/
Many users have the same problem as me. However, unlike them, I have not received any email about closing the account. We have in common that we cannot withdraw in any way.
https://www.reddit.com/r/CoinBase/
Many users have the same problem as me. However, unlike them, I have not received any email about closing the account. We have in common that we cannot withdraw in any way.
If I'm right he is the same person who made a topic on reddit a few hours ago from this link below he already got a response from Coinbase support but the OP can't provide a Case ID to follow up his case.
- https://www.reddit.com/r/CoinBase/comments/14hjom2/suddenly_i_can_no_longer_withdraw_my_funds_via/
Hi. Yes I am. I did some research and found that Coinbase had an account on Reddit where they provided support. So I signed up and filed the issue.- https://www.reddit.com/r/CoinBase/comments/14hjom2/suddenly_i_can_no_longer_withdraw_my_funds_via/
In the meantime, this progressed and I was emailed my case ID number. Now I'm waiting for everything to unlock or, at least, to be given the opportunity to withdraw. I understand that a website should take appropriate measures to avoid fraud or anything else, but blocking your account without notifying you or at least informing you of the reasons, I don't find it very fair. I've always used Coinbase without problems, made a lot of transactions, deposits, withdrawals, exchanges. We'll see. I wish you all a happy Sunday, and thanks again for your support.
If I'm right he is the same person who made a topic on reddit a few hours ago from this link below he already got a response from Coinbase support but the OP can't provide a Case ID to follow up his case.
- https://www.reddit.com/r/CoinBase/comments/14hjom2/suddenly_i_can_no_longer_withdraw_my_funds_via/
Oh okay, so OP really need to contact again and coordinate with its case ID to their support if he wants to solve this issue instead of responding other things, because it looks like he didn't do that yet based on the reddit thread/comments. - https://www.reddit.com/r/CoinBase/comments/14hjom2/suddenly_i_can_no_longer_withdraw_my_funds_via/
If this is the case then they should give another note or requirements to ask their users but in OP's case looks like it isnt.
@OP try to message them in weekdays if they will give a useful response.
If I'm right he is the same person who made a topic on reddit a few hours ago from this link below he already got a response from Coinbase support but the OP can't provide a Case ID to follow up his case.@OP try to message them in weekdays if they will give a useful response.
- https://www.reddit.com/r/CoinBase/comments/14hjom2/suddenly_i_can_no_longer_withdraw_my_funds_via/
It seems they become more strict in regulating users after being sued by SEC. So I think this is just their security procedure to follow the SEC rules and regulations.
. If this is the case then they should give another note or requirements to ask their users but in OP's case looks like it isnt.
@OP try to message them in weekdays if they will give a useful response.
It seems that you're not the only one who had some issues using Coinbase over the past few days check this Reddit post below
~snip~
~snip~
What is strange is that this user claims that the whole situation has been going on for 8 months, although some others claim that their "problem" was solved in about a month. It seems that users will find their way to DEX one way or another, because using CEX will become like gambling.
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