
CoinBase wire transfers considered harmful - consultutah
Or how I lost $7k - hopefully only temporarily. Just a warning to the masses that wire transfers to coinbase&#x2F;gdax should be considered harmful.<p>The wire transfer instruction page says  that they should be deposited same day if done before noon PT (mine was at 2am ET which afaik is a little before noon) and I haven’t seen the money for days. I’ve submitted a support ticket and received absolutely nothing back. I called their support number and was told 1) that phone support can’t help with wire transfer issues and 2) wire transfers can take up to 10 days - contradicting the info on their wire transfer page.<p>Searching the web and reddit shows that many others experience the same issues. I highly recommend not sending wire transfers to coinbase until they’ve resolved these issues.
======
royfire
Welcome to Bitcoin trading. It's indeed very sketchy.

~~~
consultutah
Yeah, I guess I assumed that being FDIC insured took most of that sketchiness
away. I’m to blame for not doing more research before I had a problem. But I
still think they at very least need to update their docs to say that there is
a significant delay.

------
stocktech
How is it considered harmful?

This isn't a new issue and afaik no one has lost any money. Coinbase has a
backlog. If you want to use Coinbase, you'll have to deal with the backlog.
Otherwise, you'll have to deal with their "support".

~~~
tedmiston
I feel like a better title is "Coinbase wire transfer timeline wrong in docs"

~~~
consultutah
That’s fine if that’s all it is - a mistake in the docs. Should be easy for
them to fix up. However now that I’ve searched and discovered the issue, I
have to ask why they wouldn’t have done that before.

