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Coinbase Blaming Visa for Duplicate Charges

DooKey

DooKey

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Users on social media and reddit have been complaining of multiple and duplicate charges on thier bank accounts from Coinbase. In many cases the charges have rung up enough to cause them to go into the red and they are getting hit with overdraft charges. Not a good thing if this causes your rent check or car payment to bounce. According to Coinbase, the problem rests with Visa and it stemmed from the decision from many banks to change the category code of charges to a cash advance. If you have a Coinbase account and are buying crypto then you might want to keep an eye on your bank account.

Ultimately, all users should be fully refunded soon. Coinbase has said it is working with Visa to make sure this happens, and also will reach out to customers who were potentially affected urging them to check and make sure their transaction history is accurate. It’s still unclear how many people will be hit with overdraft fees related to the issue, but Coinbase has said it’ll ensure each customer is refunded in full for any erroneous charge.
 
I always use ACH for coinbase, and haven't seen any issues. I have a few friends with visa debit that got hit.
 
Sounds to me like Coinbase didn’t update their banking API’s.
 
They are depleting their bank accounts so much that one mistake causes all these problems...sounds like typical addictive gambling behavior to me.
 
WhoMe said:
They are depleting their bank accounts so much that one mistake causes all these problems...sounds like typical addictive gambling behavior to me.
Click to expand...

For many people, the charges kept repeating until their account was drained. It doesn’t matter if you started with $500 in your account or $5,000, a repeating charge can nuke an account.
 
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Ocellaris said:
For many people, the charges kept repeating until their account was drained. It doesn’t matter if you started with $500 in your account or $5,000, a repeating charge can nuke an account.
Click to expand...
Ah I missed the part of it happening more than once, ok maybe not as bad as it sounds. I've had dupe charges before but only one time and a quick call got it reversed...the good old days when you could call someone to get things fixed and banks were helpful ;).
 
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