Update: I got a response from Coinbase after a couple weeks. Short and sweet. They'll reattempt the ACH withdrawal and reactivate my account. Just wanted to update this thread so that the good news would be documented. They didn't even charge me a fee for the inconvenience, which really was kind of them. I deserved a slap on the wrist at least. Thank you to Coinbase.Not sure where to post this but wanted to get feedback from you all be cause I am not understanding Coinbase's thinking on this.
I did a purchase last week of about 11 bitcoins through coinbase. Price was about $99 per coin.
Because they allow "instant" BTC purchases, the coins were available immediately.
I transferred them to my offline wallet immediately.
Unfortunately a friend failed to deposit money into my bank account like they promised.
The Coinbase withdrawal bounced.
However the money is there now. Ready and waiting.
Clearly the easiest thing to do is for Coinbase to re-initiate the ACH withdrawal.
Instead they waited 4 days and told me I need to give them 11 Bitcoins to resolve the issue.
At this stage BTC is listed at $115 per coin. When I bought the 11 BTC they were $99 each.
I emailed coinbase and told them there's no way im going to resolve this issue by sending them 11 BTC, as that would be a $176 difference.
I told them "I made a purchase for X dollars and I owe you X dollars, not a penny more"
They said my account has been suspended and will remain suspended until I send them 11 BTC.
I dont understand this policy nor their logic. Why would they make this the process?
Its so obvious why it makes no sense.
Thanks for any insight.
-Burger-