Are you sure it is a requirement to have a credit card? I imagine they intend to add a level III verification tier in the future, but not necessarily requiring credit card for level two.
The credit card is only to qualify for instant purchases. 
Topic: Coinbase moves the finish line! (Read 1645 times)
Are you sure it is a requirement to have a credit card? I imagine they intend to add a level III verification tier in the future, but not necessarily requiring credit card for level two.
UPDATE: It turns out that it can't just be any VISA card. It has to be one registered to a verifiable address. So that means no gift cards or over-the-counter Debit cards are allowed. With this in mind they might as well remove the 30-day limitation in light of this new restriction.
That's the whole point of the credit card though; verification and backup funding. If anyone could use a pre-paid card it wouldn't solve anything. They are trying to abide by U.S. law which is quite unforgiving along with protect their investment as we all know there are many scammers out there.
UPDATE: It turns out that it can't just be any VISA card. It has to be one registered to a verifiable address. So that means no gift cards or over-the-counter Debit cards are allowed. With this in mind they might as well remove the 30-day limitation in light of this new restriction.
Wow! I signed up for Coinbase a little over a month ago. At the time the terms were that you provide a bank account number, cell phone number, email address, and identity. Great! No problems! I also did the first purchase to start the clock ticking for the 30-day wait. I figured it was worth the wait to be able to do instant purchases so I could fund my account quickly if I saw something online that I wanted to purchase. On day 29, Coinbase implemented a new rule specifying that you must now also register a VISA credit card! One hitch... I don't have a VISA credit card. So I did my first purchase and now I'm being told that I must wait 6 days now to be funded.
So unless you have a VISA card you can forget any spur-of-the-moment purchases of items you see on the Internet. I guess this also means that I need to decide that I'm going to have "pizza" for supper 6 days before I order it! LOL!!!
Did anyone else get caught in the 30-day delay requirement and then discover that the finish line has been moved right when you got to it?
So unless you have a VISA card you can forget any spur-of-the-moment purchases of items you see on the Internet. I guess this also means that I need to decide that I'm going to have "pizza" for supper 6 days before I order it! LOL!!!
Did anyone else get caught in the 30-day delay requirement and then discover that the finish line has been moved right when you got to it?
Frustrating, and I not only have had similar things with Coinbase happen, but have had transactions reversed by them, days later.
But you know what? I know they're smart, well-intentioned, and are backed by real investment. I'll cut them some slack. They're trying to cope with the extreme KYC and AML laws that the US imposes on them, and they're doing the best job of it of anyone out there at this early stage, at least.
Voice of reason right there. +100. These aren't the Bitcoinica days' anymore.
Wow! I signed up for Coinbase a little over a month ago. At the time the terms were that you provide a bank account number, cell phone number, email address, and identity. Great! No problems! I also did the first purchase to start the clock ticking for the 30-day wait. I figured it was worth the wait to be able to do instant purchases so I could fund my account quickly if I saw something online that I wanted to purchase. On day 29, Coinbase implemented a new rule specifying that you must now also register a VISA credit card! One hitch... I don't have a VISA credit card. So I did my first purchase and now I'm being told that I must wait 6 days now to be funded.
So unless you have a VISA card you can forget any spur-of-the-moment purchases of items you see on the Internet. I guess this also means that I need to decide that I'm going to have "pizza" for supper 6 days before I order it! LOL!!!
Did anyone else get caught in the 30-day delay requirement and then discover that the finish line has been moved right when you got to it?
So unless you have a VISA card you can forget any spur-of-the-moment purchases of items you see on the Internet. I guess this also means that I need to decide that I'm going to have "pizza" for supper 6 days before I order it! LOL!!!
Did anyone else get caught in the 30-day delay requirement and then discover that the finish line has been moved right when you got to it?
Frustrating, and I not only have had similar things with Coinbase happen, but have had transactions reversed by them, days later.
But you know what? I know they're smart, well-intentioned, and are backed by real investment. I'll cut them some slack. They're trying to cope with the extreme KYC and AML laws that the US imposes on them, and they're doing the best job of it of anyone out there at this early stage, at least.
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How do you like your cheese with your whine? 
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I like cheese with my whine but I have to wait 6 days before I can buy it. Do me a favor, don't open the bottle until I can afford the cheese.
I'm not saying I'm going to leave Coinbase or anything like that. I'm just surprised and also a little disappointed that the new rule caught me on day 29 of the 30 day wait.
Nah, I got what you are saying. I agree keep the bottled chilled till the goods are produced. Yeah, the wait does suck I hear what you are saying. I'm not saying I'm going to leave Coinbase or anything like that. I'm just surprised and also a little disappointed that the new rule caught me on day 29 of the 30 day wait.
Quote
Did anyone else get caught in the 30-day delay requirement and then discover that the finish line has been moved right when you got to it?
How do you like your cheese with your whine?
I like cheese with my whine but I have to wait 6 days before I can buy it. Do me a favor, don't open the bottle until I can afford the cheese.
I'm not saying I'm going to leave Coinbase or anything like that. I'm just surprised and also a little disappointed that the new rule caught me on day 29 of the 30 day wait.
Quote
Did anyone else get caught in the 30-day delay requirement and then discover that the finish line has been moved right when you got to it?
How do you like your cheese with your whine?
Wow! I signed up for Coinbase a little over a month ago. At the time the terms were that you provide a bank account number, cell phone number, email address, and identity. Great! No problems! I also did the first purchase to start the clock ticking for the 30-day wait. I figured it was worth the wait to be able to do instant purchases so I could fund my account quickly if I saw something online that I wanted to purchase. On day 29, Coinbase implemented a new rule specifying that you must now also register a VISA credit card! One hitch... I don't have a VISA credit card. So I did my first purchase and now I'm being told that I must wait 6 days now to be funded.
So unless you have a VISA card you can forget any spur-of-the-moment purchases of items you see on the Internet. I guess this also means that I need to decide that I'm going to have "pizza" for supper 6 days before I order it! LOL!!!
Did anyone else get caught in the 30-day delay requirement and then discover that the finish line has been moved right when you got to it?
So unless you have a VISA card you can forget any spur-of-the-moment purchases of items you see on the Internet. I guess this also means that I need to decide that I'm going to have "pizza" for supper 6 days before I order it! LOL!!!
Did anyone else get caught in the 30-day delay requirement and then discover that the finish line has been moved right when you got to it?
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