Visa returned erroneously debited funds to customers' accounts and confirmed Coinbase's innocence

Last week brought an unexpected surprise to Coinbase customers - after purchasing Bitcoin, they discovered additional fees in their bank statements for services and products they had already paid for. As it turned out, VISA decided to change its collection policy

On February 16, Coinbase users began to complain that their accounts were repeatedly debited for products that had already been paid for.

In turn, representatives of the exchange published a statement that what was happening was not the company’s fault, and most likely the responsibility for repeated withdrawals lay with Visa.

The reason for the error, and, as a result, repeated Coinbase transactions, was seen in a change in the transit account code (MCC).

Initially, Visa denied any guilt in the incident. But, after the company conducted an investigation, it became clear that Coinbase had nothing to do with the write-off. It is still unclear exactly what caused Visa to malfunction.

Worldpay and Coinbase, together with Visa, have already worked to return funds to affected customers. The money should have already been returned to the cards. If this does not happen, you need to contact the bank that issued the card.