You should never trust banks

[Blamsud]

We all were aware that banks are not trusted the fees they charged us like withdrawing, transferring, cancelling our account and what other fees but we all were helpless we knew keeping money at our home is more risky so we preferred banks but now it's different we only need to keep little funds in our bank and remaining in bitcoin

indeed, since we a lready knew that there's a better way to keep and increase our savings why still use banks. But for now we still need it since banks is the only ways to cashout our btc easily.

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[batang_bitcoin]

We all were aware that banks are not trusted the fees they charged us like withdrawing, transferring, cancelling our account and what other fees but we all were helpless we knew keeping money at our home is more risky so we preferred banks but now it's different we only need to keep little funds in our bank and remaining in bitcoin

There are banks that doesn't charge fees when withdrawing. And that's what I do now, choosing and being in the bank that aren't charging or if they charge but not too much in such services that I avail. But cancelling account do have charges and its one of their source of profit. Mostly they earn from loans and our savings is their very foundation.

[naira]

We all were aware that banks are not trusted the fees they charged us like withdrawing, transferring, cancelling our account and what other fees but we all were helpless we knew keeping money at our home is more risky so we preferred banks but now it's different we only need to keep little funds in our bank and remaining in bitcoin

There are banks that doesn't charge fees when withdrawing. And that's what I do now, choosing and being in the bank that aren't charging or if they charge but not too much in such services that I avail. But cancelling account do have charges and its one of their source of profit. Mostly they earn from loans and our savings is their very foundation.

I think it's okay for a bank to charge for the administration process, as long as the cost is not too expensive
All of that is still within reasonable limits

[krankNL]

We all were aware that banks are not trusted the fees they charged us like withdrawing, transferring, cancelling our account and what other fees but we all were helpless we knew keeping money at our home is more risky so we preferred banks but now it's different we only need to keep little funds in our bank and remaining in bitcoin

There are banks that doesn't charge fees when withdrawing. And that's what I do now, choosing and being in the bank that aren't charging or if they charge but not too much in such services that I avail. But cancelling account do have charges and its one of their source of profit. Mostly they earn from loans and our savings is their very foundation.

I think it's okay for a bank to charge for the administration process, as long as the cost is not too expensive
All of that is still within reasonable limits

When the subject is banks, I don't believe that they will stay in reasonable limits. They will exploit people with extreme fees and transaction costs probably. That's why we should construct a blockchain foundation that will provide us banking.

[Laidence]

Yea that is negative response for me because I want some bank in which I can have confidence in but I have confidence in in this topic reply that we dont need to have to believe in so I believe in only to myselft and no one other since these days planet is place where you cant have confidence in to practically no one.

[Fourgh]

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!

So sad to have heard about your story. Indeed banks have their own way around things in terms of money and putting your properties as collateral for whatsoever reason they find fit to have you make sure to pay your loans. Hopefully you can raise your issue to the coarts to have it checked by your government officials. Im sure they will look into it.

[Bonakid]

yes, you definitely never trust the bank. i have a lots of experience in bank, that may balance will gone and have a illegal transaction. then i go to the nearest bank then ask and complain. then the bank said he have a investigation about this matter. until a couple of months will passed nothing will happen and my money was totally gone.

Based on my experience on bank there are some transaction that the employee will secretly do because of their illegal transactions.and also what if the bank will get into bankcruptcy our money maybe gone.

[Markzuckertion]

yes, you definitely never trust the bank. i have a lots of experience in bank, that may balance will gone and have a illegal transaction. then i go to the nearest bank then ask and complain. then the bank said he have a investigation about this matter. until a couple of months will passed nothing will happen and my money was totally gone.

Based on my experience on bank there are some transaction that the employee will secretly do because of their illegal transactions.and also what if the bank will get into bankcruptcy our money maybe gone.

You right there are a lot of chase like that. Put money in bank is mean that we let somepeople to use our money. Use our money for investment is better than only save it.

[Strught85]

For OPIn addition, banking institutions will classify you according to your credit ranking. If your credit history rating is reduced, they will not value you.Just due to the fact of this cause I use bitcoin. Every new bitcoin wallet is like a new financial institution account.I enjoy Bitcoin

[949miner]

fifty three pages of posts saying exactly the same. Why this forum is like this right now? it wasn't like now before.. People was more creative, and if they wanted to farm their account then they made it a little different.. But now they only posts thousands of replies saying exactly the same. It is boring to read that kind of posts.. seriously

[zee123]

I never trust the banks or there regulators. I think its complete bs

[mx667]

Everything has a good side and a bad side, including bank. Bank can be cruel but good at the same time, depend on the situation and the time. Bank can lend you money to make more money. But bank can turn your debt into  nightmare. If we are wise and selective, we could manipulate and use the system to our good. I personally don't trust bank either and never lent money from bank. I will just only keep money to the bank. That's it, that's all I wanna do with bank. Only to save money.

[Aztek]

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   
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.

Just like investments , trusting you funds in banks is also risky specially when you are new in the world of bank. The thing to do for you to make sure that your bank will not soon ran out you must also consider on being a part of the bank system where you also need to have a funds on the bank so that you could help it on investments, and shares.

[Ziskinberg]

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   
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.

Just like investments , trusting you funds in banks is also risky specially when you are new in the world of bank. The thing to do for you to make sure that your bank will not soon ran out you must also consider on being a part of the bank system where you also need to have a funds on the bank so that you could help it on investments, and shares.

I don't think it's more risky because banks are regulated and they follow the rules of the government.
The risk actually are in crypto but people keep putting their money because they believe the value will rise in the future, there are dumps but that was just a temporary thing and that was created to disturbed the weak hands to sell and whales make money. Banks are different, your investment is safe but the return is not impressive, and you cannot invest in banks if you do not have a decent capital to put in.

[Tubig]

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  
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.

You're right, it will not be closed if you are responsible on your bank account. Bank has also rules and they will not close it without notifying the owner of the account, and banks are also considerate, they are giving extension for you to fix the problem

[Bonakid]

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.

Before we open an account to a bank we signed for an agreement you must read an agreement before you signed and complaint for whatever issue do you have in a bank.

[fiulpro]

If something like this happened in my country the bank would have to pay you more than the amount they seized.Well it depends upon which country it is and what kind of bank it is. But its so sad to hear this. All your hard earned money gone maybe thats the worse thing that I heard in the whole day.
Is there no scope of that money coming back ?
I wish you get all your money back its not easy to save.

[Succurs]

I believe in only financial institutions which ran by government personal financial institutions take your income to protect their profits on way or an additional.

[millgates]

If something like this happened in my country the bank would have to pay you more than the amount they seized.Well it depends upon which country it is and what kind of bank it is. But its so sad to hear this. All your hard earned money gone maybe thats the worse thing that I heard in the whole day.
Is there no scope of that money coming back ?
I wish you get all your money back its not easy to save.

Yes,  each country have their own bank regulators. We still need bank, although bank is not perfect for storing money.  Bank is such as another business that looking for profit.  Bank use their investors money for lending or anything else.  The peak of the banking crisis in 2008-2009, over a dozens banks failed with asset of over $5 billion, in terms of asset size the collapse of First NBC bank is one of the biggest failures at that time.  First NBC bank experienced a combination of bad timming and aggresive lending.  Save money in form of bitcoin in hardware wallet is the best way to save money.

[zoata87]

If something like this happened in my country the bank would have to pay you more than the amount they seized.Well it depends upon which country it is and what kind of bank it is. But its so sad to hear this. All your hard earned money gone maybe thats the worse thing that I heard in the whole day.
Is there no scope of that money coming back ?
I wish you get all your money back its not easy to save.

Yes,  each country have their own bank regulators. We still need bank, although bank is not perfect for storing money.  Bank is such as another business that looking for profit.  Bank use their investors money for lending or anything else.  The peak of the banking crisis in 2008-2009, over a dozens banks failed with asset of over $5 billion, in terms of asset size the collapse of First NBC bank is one of the biggest failures at that time.  First NBC bank experienced a combitaion of bad timming and aggresive lending.  Save money in form of bitcoin in hardware wallet is the best way to save money.

Yeah bank is not perfect but we don't have choices. No bank = no income in real life .