JV
Jovan V

1 reviews | Active since Jun 2012

24 May 2024, 12:20

Account restricted - We're reviewing your account

I have had my German Coinbase account since 2018. Recently about 2 months ago Coinbase requested a re-verification of my account by providing my residency id. Shortly after, I was not able to trade anymore or sell and transfer my funds to my bank account with the message "We're reviewing your account". Why, in the first place, do you have to block/restrict a customer account who has been using your platform for 6 years for a manual review? There is no E-Mail communication. The Support site is useless, and it is impossible to log the related issue. I was able to contact a support consultant in Germany twice in a time span of 2 weeks. The only information provided by the support consultant was to be patient or to transfer my coins to another crypto exchange. "Send" is the only enabled function currently available. After almost 3 weeks of my first contact over the phone, I received an E-Mail from the KYC compliance team requesting more documents. Additionally, my last 3 payslips and an Employment letter were requested, which I provided even though I find this is an infringement of my privacy. Now, it is already more than 4 weeks, and nothing has changed. No information, no communication. The Coinbase support and compliance department are a joke. Don't understand how this company can be a BaFin regulated and apperently so popular. The best is to stay away from Coinbase if you don't want to be restricted from accessing your funds. I opened another exchange account at a BaFin regulated exchange in Germany and moved the cryptos I was able to over, and I had to bite the bullet and pay the transaction fees. Unfortunately, not all cryptos are currently transferable to the new exchange, so I still have about EUR 1000 sitting at Coinbase and no way to access them.

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