natsb88 wrote:BarsandStars wrote:I did it as an ACH, still told a week. I also deposited funds via bank account....7 days despite them immediately pulling it out. There's no reason it should take 7 days for funds to hit a USD wallet when they pull them out instantly.
The money leaving your account immediately doesn't mean Coinbase gets it immediately. An ACH authorization only verifies that the routing and account number are valid, it does not know if the funds in the account are sufficient to cover the payment. An ACH usually isn't processed until the following business day and can be denied by the bank like a non-sufficient-funds check. It can take 3-5 more business days for the bank to determine this and propagate the NSF back to the merchant. So if you initiate an ACH deposit to Coinbase and don't have enough in your checking account to cover it, Coinbase might not find that out until a week later. Hence the delay. Buyers can also attempt to dispute an ACH with their bank by claiming they did not authorize it, and there is no shortage of people looking to scam crypto any way they can. So Coinbase is very careful to cover their butts with clearing times and buying/selling limits that gradually increase as you provide more ID confirmation and establish a good account track record.