We as a community are aware & frustrated with the way Banks conduct business. But, what makes them so worst is listed below in these 5 points. As a community member, you might relate to it and would be frustrated about it, since I am from the day I opened my account with them. BTW, We cannot tolerate them but we still need them as they control all necessities to make us happy.
1. They think they are Superior
This is quite common that their staff treat us as shit most of the time. As most of them think we are poor and are asking for some money to lend us. No matter what we are looking for as everything depends on our account number.
2. Bank Holidays
The network is so glitched or congested that we cannot ask for the money we were expecting to be in our account and the same happens when someone requested money from us. Furthermore, it takes 3 days or some time more to get your own money.
3. Charges or Fees
The amount of charges these banks apply for a simple transaction, issuing a debit/ credit card, deposit fee, and more is unsubstantial. I mean who would think a fee of $10 when you transfer $200( I just quoted an example)?
4. Holidays
Just imagine you are in a medical situation and you want a family member to transfer some money ( as you do not have any other option) but since it is a bank holiday, the money gets stuck within the network for 3 to 7 days resulting in delays and escalated bills.
5. Government Control
Currency devaluation has been occurring since the COVID-19 pandemic in most countries. Just imagine you went on your holiday and suddenly your budget increased due to devaluation.
The booking amount is now less than what you booked for and the holiday packer is asking for more. I do not think it happens but what about food prices getting higher than expected and it destroys your calculated monthly/weekly expenditure
I hope you realize the benefits that Bitcoin can give you in such a scenario. Although LN is still in the early stages it can seriously disrupt banking infrastructure.
3. Charges or Fees
The amount of charges these banks apply for a simple transaction, issuing a debit/ credit card, deposit fee, and more is unsubstantial. I mean who would think a fee of $10 when you transfer $200( I just quoted an example)?
worst thing is deduction without prior notice (some banks)