Why does Coinbase require my bank account number instead of other payment methods?

3 answers

• Dec 18, 2021 · 3 years ago
  Coinbase requires your bank account number for several reasons. Firstly, using a bank account allows for faster and more secure transactions compared to other payment methods. It also provides a way to verify your identity and prevent fraud. Additionally, linking your bank account allows you to easily transfer funds between your Coinbase account and your bank. Overall, requiring a bank account number helps Coinbase ensure a smooth and reliable user experience.
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• Dec 18, 2021 · 3 years ago
  Well, Coinbase requires your bank account number because they want to make sure you're a real person and not some scammer. By linking your bank account, they can verify your identity and prevent any fraudulent activity. Plus, it's much easier to transfer money between your Coinbase account and your bank account. So, while it might seem like a hassle, it's actually for your own protection.
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• Dec 18, 2021 · 3 years ago
  As a leading cryptocurrency exchange, Coinbase has implemented strict security measures to protect its users and prevent money laundering. Requiring your bank account number is part of their Know Your Customer (KYC) process, which helps verify your identity and ensure compliance with regulations. By linking your bank account, Coinbase can also facilitate faster and more convenient transactions. So, while it may seem like an extra step, it's ultimately for the safety and convenience of both you and Coinbase.
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