Visa and Worldpay Issue Apology to Coinbase Users

Many Coinbase users were faced with overdrafts after their debit cards were charged multiple times for purchases on Coinbase. An increasingly heated thread on Reddit documented dozens of cases of double and even triple charges on debit cards linked to personal bank accounts.

Considering many credit cards have banned the purchase of cryptocurrencies on Coinbase, sudden multiple charges occurred just as many users were forced to switch to a debit card for purchases. While one may use a bank transfer for purchases, the lengthy wait time (often up to a week) for a bank transfer makes using a debit card more attractive to Coinbase users.

One Coinbase customer claimed to have over 50 double charges resulting in over $60,000 worth of excess charges to his debit card. This forced him to close his bank account until the problem could be rectified.

I find it a bit ironic that for all the FUD we constantly hear about the cryptocurrency world, the" old time" Visa payment system seems to be the culprit in the latest problems with coinbase.