Bitcoin Forum

I have 1 savings account and 1 chequing account in a bank, and today I checked my account balance to see I was 15$ overdraft. I emptied the balance into my chequing account and my new balance for the smart saver is now zero. Now, its 15$ overdraft since they charged a transfer fee of 5 DOLLARS for moving money between my accounts on the same card. Changing 2 numbers in a database, 5$ for each one. I doubt it was more than 1 line of code doing this operation automatically, and for 5$ this is ridiculous.
Another reason why I continue to use bitcoin, and I am almost done with banking, sad thing is I have to use bank accounts, no way around it, to be paid in jobs, pay for cars houses all that. Hopefully in a couple years this will change, this is absurd.

The problem is there are no jobs being paid with bitcoin, serious ones at least (sigs dont count lol).
If there isn't bitcoin comming in with work, to get them you'll always need go to through fees and banks which defeats the purpose.

What I'm more curious of is why you're actively using an account that has that little money in it.  It's all in the fine print...that mistake is solely on you. I've had the same bank account for over 15 years and never once put myself in a situation to get an overdraft fee.  It's called being financially responsible.

And if you have a transfer fee, you need to switch banks.  My credit union has never charged a fee for account transfers either online or in person.

The good news is that more and more bitcoin friendly merchants are considering paying wages with bitcoin, some of them have done that! There are some startups who are offering payroll service in bitcoin!

You call that bad. I had my dormant inactive account which I haven't accessed in over a year getting freezed by the bank and it still has money inside. will that happen to bitcoin? No. Basically with bitcoin you are in control of everything.

Exactly, I had some money in bank account and I didn't use it for a while and it turned out they kept on putting charge on it for keeping it their and closed the account when it got to 0.

With bitcoin you can transfer 168 mln of dollars with only 0.03 $ as fee , that's amazing or am I wrong ? :D.

My bank, doesn't charge me anything for anything as far as I am aware of.
I made some transactions to Germany(from Austria) and no fees here.

People told me, they have to pay per posting line and I already thought they are pretty dumb to keep their bank account(since it is pretty easy to switch to a better bank account here in Austria), but I have never heard about paying nearly as much as 5 USD for that.

That would cost hundreds and thousands of dollars using fees, and you would have to go through so much verification.

if they paid with bitcoin? how when the price falls far?

Those are mostly people, who don't live from paycheck to paycheck.

Not sure what kind of bank you're using, but the banks I work with never charged me a penny for transferring money from one account to the other.

Even not if I send money to other countries.

If you want to get paid in Bitcoin, you can:

https://www.bitwage.co/

I suspect this will be an increasing trend in the years to come, as the Bitcoin ecosystem continues to grow.

The banks I use all charge me $45 for a NSF. Sometime your bill payments simply don't properly coincide with your available funds.
The banks love this because it is free money! How did it cost the bank $45 because my funds were insufficient?

this is the reason why bitcoin will succeed

no extra cost to move your own money, it is revolutionary

Yes of course , this is one of the  best reason why bitcoin is a great thing. Wait, but  in these years I've never seen a Tx >10 k bitcoin with zero fees or am I wrong ? I meant you can send "money" also for free.

nope. you are right
that was the advantage using bitcoin than fiat  ;)

There is a payroll company that will pay you your paycheck (where ever you work) in Bitcoin. There's a thread about here -> https://bitcointalk.org/index.php?topic=913145.0;topicseen (https://bitcointalk.org/index.php?topic=913145.0;topicseen).

Essentially your company sends your pay to this third party who then converts it to BTC and deposits it in your address of choice.

If you're not keen on getting your whole paycheck in BTC check out Capital One 360 for checking, they have nearly no fees.

Wow thats pretty cool but still, you need bank account to purchase things as well. I'd rather just convert a bit of my paycheck to bitcoin to HODL this until bitcoin could be used for as much things as a real bank account,

This is one of the main reasons, why I do not want to use banks anymore.  >:(

In my bank, they used to have a fee waiver scheme.... If your account balance stay higher than a specific balance for the whole month, you do not have to pay any fees. The interest you would have received from that balance, cancel the amount of fees, you would have paid.

They now increased that fee, with VERY little notice to the account holders, and people are now paying fee's because they missed the notice and they did not increase to the NEW required balance.

It's under handed tricks like this, that is alienating people from wanting to use banks. {There is always a catch}

This also favor the rich, and not the poor. {Poor people do not have enough disposable income to maintain those kind of balances, and they know it} 

The reason why you were charged a fee for withdrawing from your savings account was most likely because you had made too many withdrawals in the current cycle (I believe you are limited to 3 withdrawals per cycle). Once you exceed the limit, banking regulations make banks treat balances in savings accounts differently, banks need to keep various amounts of cash on hand and cash in the federal reserve based on what kind of account your money is in (time deposits, savings, and checking), and if money is being withdrawn from savings accounts too frequently then it cannot be classified as a savings account for capital requirements purposes. As a result banks discourage people from making too many withdrawals from savings accounts.

You can avoid these fees in the future by leaving money in your checking account until you know you will not need it for a while, my keeping enough money in the bank so that the bank is willing to waive the fee........or use bitcoin

To be fair bitcoin does work somewhat in the same way, although it is much less exaggerated. Transactions with more bitcoin days destroyed generally will receive a higher priority by the miners and most miners will accept less of a tx fee with more bitcoin days destroyed

If everything is priced in bitcoin, basically there is very little to worry about. I mean we haven't reach that stage yet but soon, one day, it will be possible that even single stuff like normal essential items that you could use daily and foods can all be paid in bitcoin. right now, probably the bitcoin earners are keeping a large portion of their bitcoin salary as investment and another portion, slowly convert to fiat to buy essential stuff.

It would still be possible to experience inflation (as we have experienced as the USD price of bitcoin has fallen) when everything is priced in terms of bitcoin