How to Fix Crypto.com’s Declined by Issuer Error in 2023 (2024)

FAQs

How to Fix Crypto.com’s Declined by Issuer Error in 2023? ›

To fix the Crypto declined by issuer error. A user must: Check the account balance and see whether they have sufficient funds to execute the transaction. Check whether there's periodic server maintenance and retry again once the servers are active again.

Contact Customer Service

The card provider may need to manually activate the card. Often, your card is declined for your protection to prevent fraudulent purchases. In this case, your card provider may just need to verify your identity and authenticate your purchase.

The most common reasons your bank transfer is on hold or is unsuccessful are: The name on the bank account you transferred from does not match the name you used to register on Crypto.com. Your transferred funds came from a joint account.

A transaction may fail if the provider could not accept your payment, or the provider couldn't verify your account or payment method. If your transaction has failed, and you see a message stating “Your transaction has been declined by your bank,” please contact your bank for assistance.

Contact Your Bank: Sometimes, banks may block certain types of transactions, including those related to cryptocurrency, as a precautionary measure. If you're experiencing issues with your card payments, a simple call to your bank can often resolve these blocks and provide clarification on any transaction limits.

One of the most common reasons for this error to pop up can be a temporary server overload. Another prominent reason why you might be getting declined by issuer error can be due to insufficient funds in your account.

Your card may be declined for a number of reasons: the card has expired; you're over your credit limit; the card issuer sees suspicious activity that could be a sign of fraud; or a hotel, rental car company, or other business placed a block (or hold) on your card for its estimated total of your bill.

User reports indicate no current problems at Crypto.com.

Please make sure your bank account name is the same as the name that appears on your Crypto.com App KYC documents, which you submitted when registering your account.

Deposits from joint accounts may not be processed correctly. Supported Banks: Ensure that your transfer is made from a bank (credit institution) within our supported network. Transfers from unsupported institutions, such as crypto exchanges or third-party payment processors may not be processed.

Why do my purchases keep getting declined? ›

Some common reasons that your credit card might get declined include having the card's credit limit maxed out, accidentally triggering the card's fraud protections and even entering incorrect payment information on a website.

Not all banks accept crypto and may even halt your crypto transactions.

The most prevalent cause of transaction rejection is utilizing an insufficient fee or omitting the fee entirely. During periods of network congestion, low fees become more likely to hinder successful transaction completion.

Several large U.S. banks, including JPMorgan Chase, Bank of America, and Citigroup, recently banned customers from buying cryptocurrencies with credit cards issued by the banks. They fear that the volatility of cryptocurrencies could leave consumers unable to pay their debts. Several leading U.K. banks followed suit.

The global crypto market cap dropped below $2 trillion. Bitcoin and Ether prices fell by up to 5% on Wednesday due to renewed concerns over a U.S. economic slowdown and anticipation of key data that could influence the Federal Reserve's interest rate decisions.

Banks Block Crypto Transactions to Avoid Losses

So, if you've ever wondered why won't my bank let me buy crypto, it's probably because banks want to avoid situations where they are forced to pay back clients the losses caused by a transaction made by scammers.

This could be due to insufficient funds, frozen account status, invalid credit card number or expiration date, etc. Regrettably, the card issuing bank does not provide additional details regarding the reason for the decline. The customer will need to contact the card issuing bank for more information.

Some common reasons that your credit card might get declined include having the card's credit limit maxed out, accidentally triggering the card's fraud protections and even entering incorrect payment information on a website.