COINBASE — Coinbase Bank Charge Explained

COINBASE on your bank statement is a transaction descriptor for Coinbase, a cryptocurrency company. Coinbase is a US-based cryptocurrency exchange and wallet, billing for crypto purchases, trading fees and the Coinbase One subscription. Amounts vary by transaction, with Coinbase One being a fixed recurring fee.

What Is the COINBASE Charge?

COINBASE is a transaction descriptor for Coinbase, a cryptocurrency company.

Coinbase is a US-based cryptocurrency exchange and wallet, billing for crypto purchases, trading fees and the Coinbase One subscription. Amounts vary by transaction, with Coinbase One being a fixed recurring fee. They typically appear as COINBASE; query any crypto charge you do not recognise.

This code appears on your bank statement because banks display a short payment reference — set by the merchant's payment processor — rather than the company's full trading name. The code COINBASE is the official identifier that Coinbase registered with Visa or Mastercard.

Is the COINBASE Charge Legitimate?

Coinbase has received mixed reviews and reports of unexpected charges. If you do not recognise this charge, we recommend contacting your bank immediately to dispute it and request a chargeback. You do not need to contact the merchant first.

How Do I Cancel or Dispute a COINBASE Charge?

  1. Identify the charge: Confirm the charge is from Coinbase by checking your email for a receipt or logging into your account on their website.
  2. Cancel your subscription: If you no longer want the service, log in to Coinbase and cancel your subscription through account settings before the next billing date.
  3. Contact the merchant: If you do not recognise the charge, contact Coinbase customer support and ask for an explanation and refund.
  4. Dispute with your bank: If the merchant does not resolve the issue, call the number on the back of your card and ask to raise a chargeback on the COINBASE transaction. Provide the transaction date and amount.
  5. Section 75 rights: If you paid by credit card and the amount was over £100, you may have additional protection under Section 75 of the Consumer Credit Act 1974.

What Other Names Does Coinbase Use on Bank Statements?

Coinbase may also appear on your statement as:

Frequently Asked Questions About COINBASE

What is COINBASE on my bank statement?

COINBASE is a bank statement transaction code for Coinbase, a cryptocurrency company. Coinbase is a US-based cryptocurrency exchange and wallet, billing for crypto purchases, trading fees and the Coinbase One subscription. Amounts vary by transaction, with Coinbase One being a fixed recurring fee. They typically appear as COINBASE; query any crypto charge you do not recognise. This descriptor appears because banks display a shortened payment code instead of the full company name.

Is COINBASE a scam?

Coinbase has received mixed reviews and reports of unexpected charges. If you do not recognise this charge, we recommend contacting your bank immediately to dispute it and request a chargeback. You do not need to contact the merchant first.

Why is COINBASE on my bank statement?

COINBASE appears on your statement because Coinbase processed a payment through their card payment provider. The code is set by their payment processor and is the official descriptor registered with Visa or Mastercard. Common reasons include a subscription renewal, a one-off purchase, or a trial period that has converted to a paid plan.

How do I cancel COINBASE?

To stop COINBASE charges from appearing on your statement, you need to cancel your Coinbase subscription or account. Log in to the Coinbase website, go to your account settings, and cancel your subscription. If you cannot find the cancellation option or do not recognise the charge, contact your bank to dispute it and block future payments.

How do I get a refund for a COINBASE charge?

If you believe you have been charged incorrectly by Coinbase, first contact their customer support to request a refund. If they are unresponsive or unhelpful, contact your bank and ask to raise a chargeback. You typically have up to 120 days from the transaction date to raise a chargeback claim. For credit card purchases over £100, you may also be protected under Section 75 of the Consumer Credit Act.

For more information about Coinbase and all its known transaction codes, visit the Coinbase merchant page.