Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Coinbase => Topic started by: gmemran on December 27, 2017, 03:57:51 PM
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I'm having a nightmare withdrawing money from Coinbase.
So they say I have to convert my money into EURO which I have done, then I have to withdraw my money via SEPA which my bank (Halifax) don't offer.
I'm really annoyed right now as I just want the money in my bank account.
Can someone please guide me on what to do?
Are there any other websites that allow easy transfer to a UK bank or be able to convert money into anything that's useable?
I can buy BTC with the money in the account if I need to transfer it to another website.
I just want the money back in my UK bank account!
Please help! :'(
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I don't know anything about the banks in UK. Maybe try to open account in another bank, not Halifax, that support EUR. Here in Slovakia we have EURO as currency, so I have no problem with Coinbase. Today I have received some money from Coinbase as SEPA payment.
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Use Co-operative bank! They are reportedly one of the only banks to be "OK" with SEPA despoits/withdrawls to exchanges. Natwest for example now don't accept this, and other banks have been questioning these transactions to their users. Don't bother wasting your time having a shit bank to deal with. Just use co-op to channel the money through.
I've been sending money in and out for months and they've never questioned me :)
For anyone else with this complication, it can be a bit tricky to understand to begin with, with the SEPA transfers and converting to EUR (physically and mentally!) but you'll get there. In the end it's worth it as there's so little volume of BTC/ETH/LTC in GBP (10% compared to Euro trading), so you'll get a much better trade out of it. Not to mention GDAX only have BTC/GBP as a GBP trading pair.
I'm still waiting for BCH/EUR to go live though ::)
Am thinking US users are thinking ??? as they don't have these problems between crypto and banks over there...
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Afaik Coinbase does not support Pounds yet. So trading and withdrawals are limited to EUR and USD so ether open a bank account in one of those currencies or withdraw the money to an exchange supporting pounds. If you do not mind me asking how did you get money on coinbase in the first place if you can not transfer EUR or USD with your bank?
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Afaik Coinbase does not support Pounds yet. So trading and withdrawals are limited to EUR and USD so ether open a bank account in one of those currencies or withdraw the money to an exchange supporting pounds. If you do not mind me asking how did you get money on coinbase in the first place if you can not transfer EUR or USD with your bank?
No, you don't just open a bank account for EUR or USD in the UK, that's not a thing! International transfer are however.
As I said in the previous post you make a SEPA payments (Single Euro Payments Area) which takes 1-2 days to clear.
These convert the GBP to EUR for you in the transfer to your desired exchange, then you can head to GDAX with it for free.
You can otherwise buy/sell directly through Coinbase with a UK debit/credit card but that's a HORRIBLE idea as you pay the 3% fee as well as their awful SEPA GBP-EUR conversion for ETH and LTC trades, as there are no ETH-GBP and LTC-GBP pairs.
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Afaik Coinbase does not support Pounds yet. So trading and withdrawals are limited to EUR and USD so ether open a bank account in one of those currencies or withdraw the money to an exchange supporting pounds. If you do not mind me asking how did you get money on coinbase in the first place if you can not transfer EUR or USD with your bank?
No, you don't just open a bank account for EUR or USD in the UK, that's not a thing! International transfer are however.
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It is most definitely a thing and most mayor banks in the UK either offer US Dollar or Euro accounts you might want to call your bank representative or check your banks website if you have been told otherwise.
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It is most definitely a thing and most mayor banks in the UK either offer US Dollar or Euro accounts you might want to call your bank representative or check your banks website if you have been told otherwise.
Point taken, but at least with co-op bank (which is what you want for crypto transfers tbh) it isn't anymore:
https://www.co-operativebank.co.uk/corporate/daytoday/foreign-currency-accounts
Just stick with SEPA and everything will be ok.
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It is most definitely a thing and most mayor banks in the UK either offer US Dollar or Euro accounts you might want to call your bank representative or check your banks website if you have been told otherwise.
Point taken, but at least with co-op bank (which is what you want for crypto transfers tbh) it isn't anymore:
https://www.co-operativebank.co.uk/corporate/daytoday/foreign-currency-accounts
Just stick with SEPA and everything will be ok.
Ahh ok I do not knoe this specific bank, but with the most major banks you can get an account that will work in USD or EUR, which is handy if there are not many exchanges being able to send out Pounds. SEPA will not help you that much if you can only receive the funds at a super bad conversion rate so it might be worth a look, especially if you often need to cash out Crypto into Fiat (for example, when mining).