Why Coinbase Says You Have 0 Available to Cash Out and How to Fix It
Many users have encountered the frustrating issue of seeing a balance of 0 on their Coinbase debit card, preventing them from cashing out or spending any funds. This problem can be especially distressing for those who have been unable to access their funds for extended periods, as illustrated by the unfortunate account of a user who has been waiting for over two years without resolution. When faced with such issues, users often find themselves dealing with unhelpful support and facing numerous obstacles in trying to resolve the problem. Suggestions from Coinbase, such as waiting for an investigation, do not always yield satisfactory results. In this article, we will explore the possible reasons for this issue and provide steps to fix it.
Reasons for Having 0 Available on Coinbase Debit Card
The primary reasons for a 0 balance on your Coinbase debit card include non-completion of identity verification and the bank not being added to Coinbase's system. Here are the detailed reasons and solutions:
1. Non-Completion of Identity Verification
Before you can access your full funds, you must complete identity verification. This process ensures the security of your account and your funds, preventing unauthorized access. If your account is new, the initial limit is likely to be very low until you complete this step. Here’s what you need to do:
Upload your ID to verify yourself. Follow the instructions provided by Coinbase to complete the verification process.Once identity verification is complete, your debit card limit should be adjusted accordingly. If you encounter any issues during this process, reaching out to Coinbase support is advisable.
2. Bank Not Added to Coinbase System
Another potential reason for the 0 balance is that your bank has not been added to Coinbase's system. This is necessary for your transactions to be processed correctly. Adding your bank involves providing your routing and account numbers.
Go to your Coinbase profile and navigate to the settings section. Find the option to add or update your bank information. Enter your routing and account numbers as instructed.Completing these steps will help resolve the issue and allow your funds to be accessible. If you have completed both identity verification and adding your bank information, but the problem persists, it’s time to reach out to Coinbase support.
Steps to Request a Callback and Get Support
When dealing with the issue of a 0 balance on your Coinbase debit card, requesting a callback from Coinbase support can expedite the resolution process. Here are the steps to follow:
1. Request a Callback from Coinbase Support
Click on the support section or contact us button on the Coinbase website.
Initiate a chat with a support agent or request a callback. Provide your account details and the specifics of the issue you are facing.Support agents can offer additional assistance, check your account, and troubleshoot any issues you might be experiencing.
2. Check for Compatibility with Coinbase
Ensure that your bank is compatible with Coinbase. Some banks may not be supported due to technical limitations or technical issues. If your bank is not supported, you may need to change banks to use Coinbase services.
Transaction Fees on Coinbase
It's important to note that transactions made via your Coinbase debit card come with certain fees. Here are some details to consider:
1. Debit Card Limit
When you sign up for a Coinbase account, the debit card limit is initially set to a low amount. This is to ensure that you are fully verified and to prevent unauthorized spending. There is a fee of 3.99% when using your debit card to make purchases, in addition to any fees charged by your bank.
It is generally more cost-effective to use a credit card or bank transfer for purchasing cryptocurrencies on Coinbase to avoid these additional fees.
Conclusion
In conclusion, the issue of seeing 0 on your Coinbase debit card is often due to incomplete identity verification or your bank not being added to the Coinbase system. By completing these steps and requesting support from Coinbase, you can usually resolve the issue. Always ensure that your bank is compatible with Coinbase and consider the fees associated with using the debit card. If you encounter further issues, reaching out to Coinbase support is the recommended course of action.