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Credit Card Companies to collect fees on purchasing digital currency


Dave
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Just got this:

 

Dear Coinbase Customer

We’re writing because you have a credit card on file and want to inform you of a recent change that may increase the cost of purchasing digital currency with a credit card.

 

Recently, the MCC code for digital currency purchases was changed by a number of the major credit card networks. The new code will allow banks and card issuers to charge additional "cash advance" fees. These fees are not charged or collected by Coinbase. These additional fees will show up as a separate line item on your card statement.

 

Coinbase does not know whether or not your card issuer collects these fees, nor do we know how much they might collect. As a result, we would strongly suggest switching to a debit card or bank account as your primary payment method. You can do that on the following page: https://www.coinbase.com/settings/linked-accounts.

 

We apologize for any inconvenience this might cause.

 

Best,

 

The Coinbase Team

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You may want to just open a separate bank account only for mining / currency transactions. That way the account is isolated from your family finances.

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