Please help, Coinbase lost my $200,000 transfer on 5/30

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1 BTC = $17035.83 USD  (via Coinbase)
1 ETH = $1263.20 USD  (via Coinbase)
1 LTC = $76.21 USD  (via Coinbase)
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Throwaway for obvious reasons. Please help me get my $200,000 back. I've opened a support ticket, I've emailed support+reddit@coinbase.com, I've PMed the official Coinbase reddit accounts, and I tried Twitter DMs. If anyone from Coinbase is reading this, Case ID: 1653972.

I did an overnight transfer of $200,000 to Coinbase on 5/30. The amount was never credited to my account so I opened a support ticket. They got back to me two weeks after the transfer, on 6/12. It turns out my bank (BoA) did the transfer as an overnight ACH, which Coinbase does not support. The 'specialist' assigned to my ticket told me that my bank needed to recall the ACH transfer.

I immediately called the BoA Commercial Banking team (we all talk shit about the banking system, but at least they have phone lines…) and asked them to recall the ACH. BoA told me that the governing body for ACH transfers prevents recalls if more than 1 week has passed since the transfer. They confirmed that the money was successfully transferred to Coinbase's bank account and gave me a trace ID so that Coinbase would be able to confirm the transfer. I sent the info over to Coinbase support and never heard back.

Now here I am, 4 weeks later, still waiting for Coinbase to get their shit together. I understand that their support team must be swamped with requests right now, but this is ridiculous. What kind of organization 'loses' $200,000 in their bank account and doesn't sort it out within 1 month?

Regarding Coinbase not supporting overnight ACH transfers:

  • Is this in Coinbase's documentation anywhere? Nope.

  • Do they accept other types of ACH transfers? Yup.

  • Is there a good reason to not support overnight transfers? As far as BoA can tell me, no. No there is not.

submitted by /u/cb_throw3
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1 CRYPTO

Crypto News & ICO Reviews

1 News - 247 News - 247 Bitcoin - 1 Search

BTC - BCH - ETH - LITE - XRP

Buy Sell Trade Crypto Here

 

Ticker

1 BTC = $17035.83 USD  (via Coinbase)
1 ETH = $1263.20 USD  (via Coinbase)
1 LTC = $76.21 USD  (via Coinbase)
Quotes delayed up to 2 minutes.

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