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They only appear to care about the customer experience when someone complains on social media, until then they have a history of being jerks to their users. Th
by ewillbefull 11y ago
They only appear to care about the customer experience when someone complains on social media, until then they have a history of being jerks to their users.
They closed my account after I made a (relatively small) wire transfer after not using their service for a while. The year before I made much larger transfers that didn't seem to concern them. Suddenly I needed to provide them with lots of financial information.
The law sucks and I don't blame them for this. But I have provided them with more than enough information to prove all of my income is legitimate, including years of tax forms regarding the income and other crap they absolutely did not need to look at.
What bugs me is that they continued to ask me for this information, which took time for me to compile for them, and they ignored me anyway after I provided everything.
Another thing that bugs me is that (they claim) their support desk software is the most secure method of sending them sensitive documents. Ridiculous. The icing on the cake will be when their system is hacked and I lose a lot of important documents that I was under the impression they would be removing, but clearly haven't.
- giancarlostoro 11y agoWhat's really odd about this (to me at least) is I've never had such an experience from any of my real banks.
- ewillbefull 11y agoSame here. I've been through the KYC loops and I know how invasive they have to be occasionally. Coinbase took it to another level.
- necessity 11y agoI and many other fellow countrymen have had that experience with Itaú (largest bank in the southern hemisphere). Paypal seems to be a popular source of complaints regarding frozen accounts too.
- xkiwi 11y agoReal banks will ask you for Driver Licenses and SSN when you open a bank account with them. Information on DL has your height, eye color, address, telephone number, your photo, your finger prints. That's why they don't need to ask for your income again. However, I tried Coinbase and will not use them ever again.
- mbesto 11y agoBut....did you use your Coinbase account to conduct any illegal transactions? You didn't answer a very straight forward question.
- gknoy 11y ago> I have provided them with more than enough information to prove all of my income is legitimate That seems like a roundabout way of saying, "No, I did not conduct any illegal transactions".
- tw04 11y agoYou can buy drugs with legitimate income. The fact he didn't directly say no the first or second time says the answer is probably yes.
- such_a_casual 11y ago>The fact he didn't directly say no the first or second time says the answer is probably yes. Your statement is perhaps true from the perspective of a 110 IQ individual. However, for the rest of us, it makes no sense to make such a silly assumption.
- ewillbefull 11y agoThat's a dumb, deliberate misreading of my comment and a ridiculous jump to conclusions. I have done nothing illegal. I said clearly that I made _one_ transaction (a wire transfer) and I said clearly that they questioned me on my income. Their concern is "where did you get your money" to which I answered them thoroughly.
- deleted 11y ago[deleted]