PSA: Joint accounts cannot be used for funding

[AllCourtTENNIS]

Figuring this out ate up weeks of my time. Every single exchange I attempted — Coinbase, PayPal, Kraken — turned down ACH and debit card funding for a crypto account. NOT ONE OF THEM EXPLAINED THE REASON. Worse, my questions apparently made me come across as shady.

Eventually I gave in and opened a crypto account at my primary bank, something I had been putting off, and then bombarded them with question after question about why funding kept failing. The result: even my own bank, where I have been a customer for ages, would not permit funding from a joint account.

So if every account you hold is joint, the real crypto step 1 is opening an individual account. Put money into that new account, then open a crypto account and fund it from your new solo account. Purchase the crypto required for your purchase, transfer it to an external wallet, and finally pay your vendor from the external wallet.

*end rant

 

[yrrdead]

A few weeks ago, I moved money into Coinbase using a joint account.

 

[paranoidpineapple]

Last week, I moved funds into coinbase using my joint account as well.

 

[staffn1]

yrrdead said:

A few weeks ago, I moved money into Coinbase using a joint account.

I agree. Using a joint checking account with Coinbase has never caused me any problems. Calling it a PSA is a stretch when the claim itself is incorrect.

 

[matt400]

I have a joint account too, and I've sent several transfers to Coinbase from it.