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Author Topic: You should never trust banks  (Read 60116 times)
g2com
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November 30, 2016, 02:50:28 AM
 #1

My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. My bank just stated that "Pursuant to the CMA Disclosure and Agreement, 'THE BANK, at its discretion, may elect not to accept an account, terminate the account agreement and the account agreements of any related parties'. Both parties to the agreements have the right to end the relationship at any time and neither is obliged to provide a basis for such a decision to terminate". No single word explaing the termination was given to me. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you are helping the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!
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November 30, 2016, 02:59:54 AM
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My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you helped the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!

why your bank closed your account for no reason? because i know that the bank will closed someone account if the account is on the limit for at least 3 month and then they will send a letter that contain we should give attention for our account and if we are not respond about this, then the bank will closed our account. for now, i still believe my bank because i have 3 account in different bank and they are work properly for my saving money and although the fee for the monthly is high, but i am fine with that.
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November 30, 2016, 03:04:21 AM
 #3

Give us more information about the closing of your bank account, I guess they will not do that without any valid reasons though I don't have bank account yet but it's really normal if you do something illegally and don't respond to them about that issue   Cry
Don't just post a thread here that you want to tell and convince us that having account bank account now is not good or investing in the bank are in a big risk this time.

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g2com
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November 30, 2016, 03:13:48 AM
 #4

Then why you are at Bitcoin forum? Just stay with your way of living and Bitcoin isn't for you. My bank stated Pursuant to the CMA Disclosure and Agreement, "THE BANK, at its discretion, may elect not to accept an account, terminate the account agreement and the account agreements of any related parties". Both parties to the agreements have the right to end the relationship at any time and neither is obliged to provide a basis for such a decision to terminate. I hope I know the reason!
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November 30, 2016, 03:15:59 AM
 #5

I think you did something against the law. They wont close your bank account for reason. You should contact the bank managers personaly to know the reason. We cant be vote to your side because we did not see the bank's side yet. Also the government also has a power to access or worst close your bank accounts. But its impossible they close it for no reason.
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November 30, 2016, 03:18:40 AM
 #6

Same case happened with my friend, the bank gave the reason that she has not maintained minimum average balance during some period. Bank not only deducted all of her balance but when we checked the balance, it was showing negative. Fortunately, she was having less than $100 in it but still it was her money and deducting it without notice is a pure steal, she said. Would  like to learn more about your case, are you still fighting it?

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November 30, 2016, 03:18:47 AM
 #7

If I was doing something illegal why would I post my story here? This forum has always been closely watched by LE Smiley When you deposit money into bank, you basically surrender your liquid asset to them and they can use your money whatever they want.
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November 30, 2016, 03:22:25 AM
 #8

Unfortunately, currently this holds true for almost all centralized institutions. The good news is that nowadays, through the use of Bitcoin wallets, we can be our own bank.
By using banks there are clear benefits, but we do not need to have all the funds in it.

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November 30, 2016, 03:24:18 AM
 #9

Same case happened with my friend, the bank gave the reason that she has not maintained minimum average balance during some period. Bank not only deducted all of her balance but when we checked the balance, it was showing negative. Fortunately, she was having less than $100 in it but still it was her money and deducting it without notice is a pure steal, she said. Would  like to learn more about your case, are you still fighting it?

Gracias amigo! They are more people fell victim to the banks than anyone can imagine. Unfortunately, due to regulatory arbitrage the chance to win them is slim in court. http://www.investopedia.com/terms/r/regulatory-arbitrage.asp but I will keep on fighting
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November 30, 2016, 03:58:05 AM
 #10

Bank wont do something wrong to you if you wont do anything wrong or illegal. You explain just your side only and you did not show us the side of the bank you are accusing. Anyway, its good to know there is bitcoin to save us from banks which is centralized.  Bitcoin gives us freedom. You can have your own bank with this with ease.

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November 30, 2016, 04:06:41 AM
 #11

This looks to be a very rare happening, because banks won't get closed without proper settlement to its customers. Governments have control over them if they were a authorised sector of government. Private banks too supposed to deposit amount to the government, so that if the bank closes government issues money to the account holders. Possibly only very few users doesn't hold a bank account, on account of this its true that bank are trusted more by the common man.

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Huge Black Woman
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November 30, 2016, 04:19:49 AM
 #12

Well, they can do it but they took all yo money??  That jist don't seem right.  Even in the US, they can close yo account but they cain't jist seize all yo assets.  Don't know what country you in, but sounds like you gotsta move.

The other thang is you can jist keep yo money unda yo mattress OR you can use bitcoin, if you can buy it.  But that'd be a pain in the ASS if you gots to do it face to face every dam time.  You could also jist try another bank an' hope they ain't as crookit.
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November 30, 2016, 04:50:25 AM
 #13

iam very trust about bank
in my country , my capital money in saving bank guaranted my goverment
and every exchange bitcoin to fiat money, i need bank account in to process, so another iam trust , i need bank to all my transaction in make money online

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November 30, 2016, 04:58:27 AM
 #14

It surprises me that they thought that closing your bank account and taking your money was a good idea, however, I do understand what it is you're going after and your anger is justified in every way. Considering that there was no real explanation for why they closed it (or at least none written down) it is fairly suspicious at to what they were doing.
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November 30, 2016, 05:06:45 AM
 #15

Well, they can do it but they took all yo money??  That jist don't seem right.  Even in the US, they can close yo account but they cain't jist seize all yo assets.  Don't know what country you in, but sounds like you gotsta move.

The other thang is you can jist keep yo money unda yo mattress OR you can use bitcoin, if you can buy it.  But that'd be a pain in the ASS if you gots to do it face to face every dam time.  You could also jist try another bank an' hope they ain't as crookit.

I was astonished at first that I couldn't believe it could happen in the United States,one of the most democratic countries in the world. My experience is an egregious example of how far banks can go. They wield unlimited power and controls everything. Also banks are more fragile than we think. Global scale financial crisis happens around every ten years, and you can see how many banks will fail to fulfill their promises when the next one comes.
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November 30, 2016, 05:33:48 AM
 #16

Thats bad.  Banks should not behave like this and close your account and take the money on it. Government has also the ability to seized all bank accounts. If you dont do something with the bank. I think its the government who did that. But its strange because you are not even invited at any court. Did you talk with staffs of the bank? If not, you should and ask them for the reason why they close your account. Its not common to a bank to behave like this.

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November 30, 2016, 06:30:48 AM
 #17

My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you helped the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!
I cant really see why banks will closed your account since you dont do anything wrong? Same as other members said here banks closes an account without a reason is a serious crime and violation regarding on their rules. You could actually fight for it if  you dont have any violations and they just close it without any reasons.Better to find some good lawyers that will fight on your case. FIght for your right and dont let that the bank will just break even or get your money without valid reason.

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Nahl
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November 30, 2016, 06:42:06 AM
 #18

obviously banks is powerfull because government supported them and usually banks will closed your account because you against the law and have serious problem in your country just like corruption or money laundry and in my opinion banks will never closed the costumers account suddenly without any reason and if they really did it without any reason i think there is something wrong with your banks and you should be figure out whether those banks problematic or not 
g2com
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November 30, 2016, 07:02:20 AM
 #19

My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you helped the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!
I cant really see why banks will closed your account since you dont do anything wrong? Same as other members said here banks closes an account without a reason is a serious crime and violation regarding on their rules. You could actually fight for it if  you dont have any violations and they just close it without any reasons.Better to find some good lawyers that will fight on your case. FIght for your right and dont let that the bank will just break even or get your money without valid reason.

The fact is that you don't get screw by banks only when you are at fault. They can screw you over at anytime. I called consumer financial protection bureau, a subsidiary of the federal reserve, and the only response I received was that "We have received your complaint and it has been added to our database. We will keep pay attention to this if more complaints are coming. Your case is now closed". However they have no enforcement power. So if you were screwed by bank, you would always lose. Don't trust them in the first place.
davis196
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November 30, 2016, 07:04:31 AM
 #20

My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you helped the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!

This is why we all support bitcoin.

I don`t trust banks, but unfortunately they are too powerful and sometimes you don`t have choice and

you need their service.

Bitcoin will change all this.

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