(Solved) Charge to bank account (see last post by mrose)


#1

Hi,

I added $5 to my Payments account in Preferences. I used the default Coinbase transaction. On my bank account, I see a $1 “Coinbase” authorization, an $8.07 “Coinbase” charge, and a $0.08 “international transaction fee”. This seems unnecessary. First of all, I only got $5 in credit in the Brave browser. That means that I had potentially $3.15 in fees and maybe $1 more. That is not a good user experience.


#2

cc @mrose for comment.


#3

i think your best option is to contact coinbase support and find out what the fees relate to and where you can find the full disclosure for the coinbase buy widget. we link to the widget (obviously), but we don’t operate it. we are in the process of developing a new “purchase BTC for your brave wallet” service, but it is not yet in QA and there is no milestone date set.

sorry for the inconvenience and thanks for your patience!

best,

/mtr


#4

Ok, I sent a support request to Coinbase. I will update here if I get a response.


#5

I have a similar issue re-funding my brave wallet with my visa card.
The credit card processor charged my card $9.01 to buy $5.00 USD worth of bitcoin.
I had clicked through from the Brave preferences just as the OP, and as I had done previously.


#6

Thanks for corroborating, Joe. I have not yet heard back from Coinbase, but I did hear from my bank that because Coinbase is registered in Great Britain (not the US, surprisingly) that the Visa “international transaction fee” charge for $0.08 was valid. I really feel like Coinbase, and in turn Brave, should disclose this. I’m still waiting to get a full receipt to understand the fees on top of the $5. I’ve been advised by my bank to dispute the charge if it was not made clear at the time of purchase.


#7

I had the same problem early this morning. At 02:58 on 6/5/17, I attempted to fund my account via Coinbase in the amount of $4.75. They sold me 0.00301664 BTC for $7.82 plus $0.99 fee for a total of $8.81. They sent 0.00301664 BTC (7.77) to Bitcoin address 3EmQkaBgCGxGJ8fTFTPvdooUMAXXEn1p1f. However, the Brave payment screen only credited $4.75 to my account vs. the $7.77 sent by Coinbase. Not good! After this payment is disbursed, I will turn off Brave payments until this problem is resolved


#8

It looks like an additional .25 cents was credited to my Brave account today. That still leaves $2.77 unaccounted for. @mrose, if what Coinbase is telling me is accurate then the problem appears to be on the Brave side. Coinbase shows they sent $7.77. So it appears that Brave is not posting the actual amount received to our accounts. Please note that I am fairly sure that I have seen a slight discrepancy in previous months. It looks like the amount that due and not the actual amount received by Brave is what is getting credited to our accounts. Unless, perhaps Coinbase is providing faulting information.


#9

I have not been able to get in contact with Coinbase. Brave team, can you fix this by crediting our accounts for the amount we were charged?


#10

I was finally able to get Coinbase support to help me locate the transaction. It looks like the Coinbase fee is $0.99. Which, in and of itself, means I will never use the Coinbase widget again–that’s a 20% fee. Plus, remember, there was also the “international transfer fee” of $0.08, even though my card was US-based. But after all that, it still looks like $7.08 was delivered to Brave. So, Brave team (@eljuno @mrose), why did I only receive $5 in credit?


#11

Coinbase now confirmed that $7.08 worth of bitcoin was sent to Brave. Brave team (@eljuno @mrose), what happened to the $2.08 surplus over $5?


#12

@benmorrow / @JoeDeasy - tl;dr - coinbase is charging two fees the $0.99 transaction fee, and a mining fee which is above and beyond the $5.00 that is used to buy bitcoin that is sent to your brave wallet. more details at https://github.com/brave/browser-laptop/issues/9270#issuecomment-307168517

for anyone who was overcharged, please please go to your ledger-state.json file, look for a line that starts with "address": and email the line to mrose@brave.com and i’ll look into it.

@mbretttx - cf., https://blockchain.info/tx/b3e1e9e7a3695e1b5179b49b9032f24f0c8fec77be56f966d1e31643a0c0771b

sorry!

/mtr


#13

So the normal processing fee is 80%?
I’ll be looking forward to the day you integrate BAT.
Funding off till then.


#14

Lost Money Funding Brave with Credit Card via Settings > Preferences > Payments