Coinbase Tells Overcharged Customers: Call Bank

Many Coinbase customers who were mistakenly overcharged by the cryptocurrency exchange are still waiting for their refunds.

According to The Next Web, more than 10 days after some of Coinbase’s users complained of being overcharged—some by as much as 50 times the intended purchase—many still haven’t been reimbursed by Visa and their banks.

“Still have not received refund on [C]oinbase triple charge,” one user wrote, after explaining that while he was refunded for a wrong purchase that occurred on Feb. 1, he was wrongly charged again on Feb. 14 and has yet to see a refund.

While it’s unknown who is to blame for the overcharges—and what caused the mistake—Coinbase is blaming Visa for the issue.

“This issue was not caused by Coinbase,” the company wrote in a joint statement with payment processing service Worldpay. “Worldpay and Coinbase have been working with Visa and Visa issuing banks to ensure that the duplicate transactions have been reversed and appropriate credits have been posted to cardholder accounts.”

Visa has denied any wrongdoing.

Coinbase has yet to confirm which banks have failed to issue refunds, but a statement on Reddit named Scotiabank as one of the institutions.

“We are investigating a potential issue for Scotia Bank [sic] customers leading to incorrect charges,” a company spokesperson said. “We believe this to be isolated at this point, and separate from the Worldpay and Visa issue outlined above. We will post an update here as we learn more.”

Other complaints on Reddit named Singapore-based United Overseas Bank as another financial institution that has been slow in refunding Coinbase customers.

And there’s one more issue: Users appear to be facing additional fees for the erroneous charges. Coinbase claims that the banks are responsible for any unexpected fees, but it is unsure if these extra charges will be reimbursed at all.



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