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Update on credit and debit cards

By Author

Product

, February 15, 2018

, 1 min read time

Over the last few days, some Coinbase customers may have experienced additional charges and/or refunds when purchasing digital currency with a credit or debit card. We know this experience is frustrating. We are actively working with the card networks and processors to investigate these issues.

Coinbase will ensure that each affected customer will be refunded in full for any erroneous charge. Our processor confirmed that any erroneous charges will be refunded over the next few days; however, if you believe you were affected by this issue or believe you experienced additional, unreimbursed fees or charges, please contact Coinbase’s support team at support.coinbase.com so we can address your issue.

Card issuers and banks recently requested that the MCC for digital currency purchases be changed by a number of the major credit card networks. As a result, purchases that occurred between January 22nd, 2018 and February 11th, 2018 may have been refunded and reprocessed—resulting in erroneous charges. Some customers might experience a delay between the issuance of the new charge and the offsetting refund, but ultimately customers should only have a single charge on their card statement.

We deeply apologize for any frustration this may cause. We are actively working with banks, processors and networks to improve the digital currency purchasing experience.

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