Visa and Worldpay Are Refunding Duplicate Coinbase Fees

February 17, 2018, 3:23 PM UTC

In a joint statement issued Friday, Visa and the payment processor Worldpay announced that they would reverse duplicate charges made against users of the Coinbase cryptocurrency exchange. Those charges triggered a storm of complaints this week, with some users claiming to have been charged thousands of dollars in additional fees to credit card or bank accounts.

The statement, posted by Coinbase, describes the charges as “duplicates,” and doesn’t detail the cause of the error, but does appear to absolve Coinbase of fault. Fortune’s previous reporting found that the mistaken charges were in part the result of Visa and banks retroactively reclassifying charges made by Coinbase users as far back as January 22 as cash advances, substantially increasing the fee charged.

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Worse, the new charges seem to have posted before cancellation of the prior charges was complete, and some were inexplicably reposted to users’ bank accounts multiple times. One user reported seeing 50 extra charges totaling $67,000, leading them to close their bank account.

The reclassification of Coinbase purchases by payment services followed the announcement earlier this month that most major banks would block the use of credit cards to buy cryptocurrencies like Bitcoin.

According to the Friday statement from Visa and Worldpay, most of the reversals and refunds are already complete.