[2016-01-10] Avoiding Bank Account Suspension Due To Bitcoin Transactions

[jdebunt]

Various banks around the world take drastic action when they find out customers have been using their account to buy or sell Bitcoin. In most cases, bank accounts will be closed without notice or second thought, leaving customers hanging out to dry. When this scenario happens, there is very little a consumer can do,  other than finding a more Bitcoin-friendly bank.

http://themerkle.com/news/avoiding-bank-account-suspension-due-to-bitcoin-transactions/

[Kprawn]

The best way to deal with them, is not to convert to fiat.... you keep everything in Bitcoin and pay for products and services in Bitcoin. It is not always possible and in some

cases you have to convert to fiat, where products and services have to be paid by fiat. Do your homework... email the exchange and ask them what banks are Bitcoin-friendly.

They will give you some options... and then you support these banks. I shifted all my accounts to a Bitcoin-friendly bank... If they support your needs, you should support them.

The rest of the banks that are not Bitcoin-friendly should not manage your money.... they are the competition. 

[fancy_pants]

Before I go write an article titled "Embracing Bank Account Suspension Due to Bitcoin Transactions" I'll list the banks who've closed my accounts after hearing about bitcoins.

Western Union
Bank Of America
Chase
Wells Fargo
Moneygram

I would suggest we keep a list of bitcoin friendly banks somewhere, but but better to just use bitcoin.