I found 2 charges on my card today. They were CASH ADVANCE FEE charges. They are charged by my bank but come from Coinbase. Looks like either Coinbase or Visa and Mastercard changed the code to say that money going from a debit card will be treated as a cash advance. This is not good. We are paying to use our own money. I dont mind the coinbase fee but to have one from them and one from my bank NO WAY! Maybe you can bypass the fee if you use your actual bank account vs your debit card but this takes a long time to process.
For now no one knows what this Coinbase or the credit card company that did this. I sure hope this gets corrected soon!
If anyone has any more info please put it in the comments.
this a damn shame. all these fees
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yea, I just hope it is a temporary thing that they didnt mean to do, the problem is if it was the choice of the creditcard company then this may be a scheme to get money for the banks.
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That's precisely what it is. The credit card networks made that determination, not Coinbase.
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Coinbase just sent out emails about this. You'll want to connect a bank account if you want to continue using Coinbase to purchase crypto...
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I do have my bank account connected but I didnt like using it because it takes days to transfer the money. Oh well maybe at least this will make things more stable, maybe...
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That's the cost of putting the establishment in upheaval. We're upsetting the powers that be, and they don't like it. Their greed will be their downfall, however...
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I agree, step by step we (the people) figure out how to unravel their web) They try to counter move by move but I think we will win in the end. We are many they are few. Just their money has power but slowly we will take that power away
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This post has received gratitude of 0.82 % from @appreciator thanks to: @adamdonmez.
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Hey! kudos to you for being successfuly to do the work
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I use union bank.... I haven’t seen any additional fees. But I will definitely keep my eyes on it. Thanks for the warning. I normally transfer and trade on GDAX using limit trades...no Fees.
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