Bitcoin Forum

We all know why as all my businesses and transactions are bitcoin related which is why they have closed my accounts.

So if you bank at huntington and use bitcoins proceed with caution. :)

is it a business/commercial/personal account

is your business registered with the state and IRS

are you abiding to the wire transmission regulations

I had a personal account to handle bills a business that was registered with the state and IRS and nothing with wires.

Did they steal any money from your account?

No funds stolen or frozen just all cards and debit cards cancelled and full closure of all personal and business checking and savings will be closed this monday apparently. Pretty shady if you ask me since they wouldn't give me any reason and the lady was very firm tone of voice like i was a criminal on the phone. So does anyone know of any bitcoin friendly banks?

you might want to try looking at the fiat side of your business and see why banks hate your business.. your obviously doing something on the fiat side they dont like.

too many people blame bitcoin when infact its their fiat transactions that do not follow wire transfer regulations, let me guess you have:
1) moved more then $1000-$15000 in one lump/day to an entity. (meaning not a bill payment to another business)

2) put it this way, you deposit bank notes (no employment salary gets wired in) just cash deposits, which you then move to another account regularly, which does not belong to you. you show no sign of using the bank account for buying groceries, using at an ATM or even a gas station.

in both cases this would look suspct and has nothing to do with bitcoins

Theres nothing wrong i've done on the fiat side that I'm aware of I've always carried a healthy balance informed my banker of any large payments that were transferred or wired and why. I also always carried a savings that had plenty of funds that was never even touched. I'm honestly believing that this is due to bitcoin related transactions and trades.

Yes its his bank that should decide what he does with his own money.  I look forward to the day when these institutions are completely bypassed.

Banks are seeing the competition. but they cant beat them so why not join us?

Did they froze your balance ?

Balance was not frozen only full account closure of personal savings/checking and my business savings/checking without any notice as to why.

No big deal man, at-least they did not freeze or steal your funds. Its up to the bank whether or not they allow you, to let them hold your money, if they deem you are a risk its ultimately their decision. I will personally avoid this Huntington bank, and others will as well if this is true, sad thing is they are clearly in the wrong and going forward I bet they will reverse this stance if this was the case.

I do agree with what Franky1 is saying, if your just funneling thousands of dollars between banks and not using the account like a "normal" person, this might seem fishy. I use several different Banking Accounts now, my Coin bank account is used to purchase anything that I consider "Virtual": Amazon AWS payments, Servers, Domains, Video Games, Netflix, etc. I also use the same account to pay for a cheap credit card that the same bank issued to me, max this out once a month to have something that looks like you are "paying" off with the coin account. So from their perspective they have more to lose than just someone with a savings account.

Find another bank; all of them want the 25 dollar wire fee and for you too have limited access to your funds so they can profit!

So, you really have no idea why they closed your accounts.

Maybe you should fix the subject line.

is huntington branch bank a big one? seems like credit unions are less likely to shut you down.. maybe because they aren't not part of the oligopoly that big banks are... so they don't see it as much of a threat.

That's a good point. Did they mention bitcoin? In any case you definitely deserve a reason. 

I agree on the reason most certainly which I believe is bull. However all of these huntington accounts only dealt in bitcoin related transactions with coinbase, mtgox(over 2 years ago) and bitstamp. My personal accounts were used to hold net profits and pay for personal expenses. I really do not see any other reason why and until it is given i'm going to stand by the fact it is bitcoin related on why they closed them.

It's been a while since the hostile and friendly bank thread got an update think this is worth noting
Thanks for sharing

Edit In: You already did so good job ^^

I actually just moved to a local credit union bank however after this scare i'll be sure I keep X dollars in bank accounts I never thought they would have closed me after this long its been an account I've had for 4 years now.

How could they close your account without any notice ?

May be you can find lawyer to do something about this ...

If they don't want your business take it somewhere else. How you move your money really isn't something they have a right to control. 

you questioning it like its not right....

so you are saying if your debit card was stolen you dont want them to prevent further transaction

so you are saying if a wire transer was spotted going to a bank account that was suspicious you wouldn't want them to stop it.

instead you would want them to type up a letter explaining that funds are moving out of your account, post it to you and wait 14 days for a response.... oh wait hackers and pickpockets have now raided you dry... and its gone

banks privilege is to halt any transaction they feel is 'iffy'. sometimes for our benefit, sometimes to cause us hassle. all in all when most of us are earning a wage in bitcoins and buying groceries and paying rent, all these little issues wont be a problem to us as we wont be using bank accounts at all.

but the point is, if you want someone else to look after your dollars.. expect them to do things without your permission or warning, afterall thats the service the banks give, love or hate it.

this is why western union, paypal gets business. for those who hate bank wire transfer rules, its also why bitcoin is getting popular. so either learn the banks FIAT rules and follow them to the letter. or take your money elsewhere if you cant follow their rules.

its your money, but its their service.

If more of us voted with our dollars instead of just putting up with it things might actually start to change. Unfortunately people have grown accustomed to this kind of stuff and to actually do it requires a little effort. 

I took it else where and they were happy to take my SSN and tax ID # without questions. All in all just a bummer though I really loved there online banking features.

yep.

In europe, too ... bankster powaaa (they will loose hard and die high !)

That sucks. I use Fidelity for banking. As a brokerage they are a bit more liberal by nature with this kind of stuff.

They can, he agreed.

...and taxpayers around the world saved this scum...not next time, hopefuly  8)

If you have a large amount of Deposits and Withdrawals (including ACH credits/debits) when compared to the average account balance then your account may be closed.

The above is a red flag of money laundering and check kiting (http://en.wikipedia.org/wiki/Check_kiting)

If you were conducting a lot of BTC buy/sells (with coinbase and/or with arbitrage across exchanges and/or buying BTC low locally and selling high locally) then this could trigger these red flags and your account could be deemed too risky.

See my sig.

I should ask if you hit any of the red flags for wire transferring
Large volume transactions back and forth in the account etc.

I just withdrew everything from my account associated with them :/

So you just have one separate bank account that you don't care about losing that interfaces w/ Coinbase?