You should never trust banks

[planfox]

I trust the banks. I have a centralized currency there. My bank never froze my account. Use in accordance with the contract concluded between me and the bank.
But the entire banking system is very difficult for citizens. Large commissions and unpleasant conditions force us to use more convenient services

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[Boov]

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!

I believe banks never just closes account for no reason.  There are laws governing the protection of clients. If this particular bank closes it for no reason tho,  it's not fair to say that banks cannot be trusted  in general..  What is true to some bank may not be applicable to other.  We should be careful in choosing what bank should we trust our money. Those banks that already had good reputation built for over years.  Im not promoting any bank but we should know our banks well before trusting them with our finances.

[senyorito123]

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!

I believe banks never just closes account for no reason.  There are laws governing the protection of clients. If this particular bank closes it for no reason tho,  it's not fair to say that banks cannot be trusted  in general..  What is true to some bank may not be applicable to other.  We should be careful in choosing what bank should we trust our money. Those banks that already had good reputation built for over years.  Im not promoting any bank but we should know our banks well before trusting them with our finances.

Exactly and bank would be the safest place to store my money with and I can't trust other institution since they might provably turndown if they can collect huge money unlike banks where they have great insurance to shoulder off if there's something happen to them. And im wondering on how could people think that bank is not a best resort for us,

[Distinctin]

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!

I believe banks never just closes account for no reason.  There are laws governing the protection of clients. If this particular bank closes it for no reason tho,  it's not fair to say that banks cannot be trusted  in general..  What is true to some bank may not be applicable to other.  We should be careful in choosing what bank should we trust our money. Those banks that already had good reputation built for over years.  Im not promoting any bank but we should know our banks well before trusting them with our finances.

Exactly and bank would be the safest place to store my money with and I can't trust other institution since they might provably turndown if they can collect huge money unlike banks where they have great insurance to shoulder off if there's something happen to them. And im wondering on how could people think that bank is not a best resort for us,

Banks gives insurance for our money and that is all we need to ensure our money is safe.
I trust bank for my savings knowing they are trusted with it but I do not put everything I have since I risk most of my
funds in investing bitcoins. Banks should stay and bitcoin must continue its progress.

[nethan1btc]

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!

I believe banks never just closes account for no reason.  There are laws governing the protection of clients. If this particular bank closes it for no reason tho,  it's not fair to say that banks cannot be trusted  in general..  What is true to some bank may not be applicable to other.  We should be careful in choosing what bank should we trust our money. Those banks that already had good reputation built for over years.  Im not promoting any bank but we should know our banks well before trusting them with our finances.

Exactly and bank would be the safest place to store my money with and I can't trust other institution since they might provably turndown if they can collect huge money unlike banks where they have great insurance to shoulder off if there's something happen to them. And im wondering on how could people think that bank is not a best resort for us,

Banks gives insurance for our money and that is all we need to ensure our money is safe.
I trust bank for my savings knowing they are trusted with it but I do not put everything I have since I risk most of my
funds in investing bitcoins. Banks should stay and bitcoin must continue its progress.

You're absolutely wrong about it, banks and bitcoins can be compatible and right now there were bank services served bitcoin exchanges online. The banks will earn good profit exchanged from bitcoin to fiat currency and no problems with that certain transaction, the wallets has comfortable transactions  with a fast services like withdrawing your money transafered from wallet sites; cashed out through banks safely.

[Colt81]

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!

I believe banks never just closes account for no reason.  There are laws governing the protection of clients. If this particular bank closes it for no reason tho,  it's not fair to say that banks cannot be trusted  in general..  What is true to some bank may not be applicable to other.  We should be careful in choosing what bank should we trust our money. Those banks that already had good reputation built for over years.  Im not promoting any bank but we should know our banks well before trusting them with our finances.

Exactly and bank would be the safest place to store my money with and I can't trust other institution since they might provably turndown if they can collect huge money unlike banks where they have great insurance to shoulder off if there's something happen to them. And im wondering on how could people think that bank is not a best resort for us,

Banks gives insurance for our money and that is all we need to ensure our money is safe.
I trust bank for my savings knowing they are trusted with it but I do not put everything I have since I risk most of my
funds in investing bitcoins. Banks should stay and bitcoin must continue its progress.

You're absolutely wrong about it, banks and bitcoins can be compatible and right now there were bank services served bitcoin exchanges online. The banks will earn good profit exchanged from bitcoin to fiat currency and no problems with that certain transaction, the wallets has comfortable transactions  with a fast services like withdrawing your money transafered from wallet sites; cashed out through banks safely.

You have a point. They both play a good role for the community. They are very significant not only for busienss but also for normal people who used to transact so they can be able to exchange to each other for their needs and wants.

[Shutup]

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!

You should never trust banks now.Because of many cases on other nations local and abroad for the closure and the account was closed.I feel fear about this matters but still we have to be careful because its too late.If we regret theres nothing we can do about it because it is finish.Thats why most people now trust bitcoin because this can easily used for the payments and many electronics transaction.

[Lomberjack]

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!

You should never trust banks now.Because of many cases on other nations local and abroad for the closure and the account was closed.I feel fear about this matters but still we have to be careful because its too late.If we regret theres nothing we can do about it because it is finish.Thats why most people now trust bitcoin because this can easily used for the payments and many electronics transaction.

I don't think so. Banks are legal matters and I don't see any reason why we shouln't trust them despite of issues. However, I do agree that we should trust bitcoin since no one controls it including the government thus we can assure thay it's anonymous and safe.

[stompix]

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!

Maybe you do something that is against their rules there is no way that bank will close your account with no reason. they should send you a notice if their closing your account. you should ask the bank managers first then have them explain the reason. and don't say that we should not trust banks because they don't steal your property they only do that if you don't pay for the loans that you make.

Or maybe he just invented the whole story to start a thread.
It's the usual practice here, create a non-thread and then have a playground to spam your posts with your clone accounts.

Check his profile , 99% are one liners just to increase his activity rating.

No bank can close your account and take your money in this world, or at least in the civilized world.
They need a reason for it and even if they find you are a criminal the action will be taken by the police not by the bank.
Furthermore every deposit is guaranteed by the central bank up to a certain sum of money.

The story is pure bullshit.

[deisik]

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!

Maybe you do something that is against their rules there is no way that bank will close your account with no reason. they should send you a notice if their closing your account. you should ask the bank managers first then have them explain the reason. and don't say that we should not trust banks because they don't steal your property they only do that if you don't pay for the loans that you make.

Or maybe he just invented the whole story to start a thread.
It's the usual practice here, create a non-thread and then have a playground to spam your posts with your clone accounts.

Check his profile , 99% are one liners just to increase his activity rating.

No bank can close your account and take your money in this world, or at least in the civilized world.
They need a reason for it and even if they find you are a criminal the action will be taken by the police not by the bank.
Furthermore every deposit is guaranteed by the central bank up to a certain sum of money.

The story is pure bullshit

I guess you should read the whole thread, clown

The author told which bank had frozen his account and provided some details. Further, banks have been known to lock, block, or otherwise limit access to accounts of even most law-abiding citizens. It doesn't really matter whether you are in a civilized or uncivilized world. You are just very unfamiliar with this matter (a typical case of Dunning–Kruger syndrome). And as a cherry on the cake or jewel in the crown, you may want to read about the Cyprus haircut where money of ordinary depositors has just been taken (read stolen) by the Cypriot government



Just in case, Cyprus is part of the European Union

[voltesbit777]

I only used bank when I was an employed before in the goverment. But in my opinion I don't like putting money in the bank its not because  don't trust them but because they have a lot seats of requirements before you can withdraw your own money.

[Hutalar]

I dont think that banks will just shut down someones account specially acount with big or even small amount of money into it but if its illegal money then banks has the rights to shut you down,but if its legal and you havent done anything negative then you may file acase against your bank

Everyone has rights to report for their rights.So I don't believe that bank will shut your account if it's a large number of money account or small number of money account bank will never ever try to do this mistake.If they do before account they will report to Police that some problem in this account.then they will take an action.

[Armstand]

I dont think that banks will just shut down someones account specially acount with big or even small amount of money into it but if its illegal money then banks has the rights to shut you down,but if its legal and you havent done anything negative then you may file acase against your bank

Everyone has rights to report for their rights.So I don't believe that bank will shut your account if it's a large number of money account or small number of money account bank will never ever try to do this mistake.If they do before account they will report to Police that some problem in this account.then they will take an action.

It will depend in bank, popular bank will not risk their reputation to shut down any accounts having small or big amounts suddenly. They might have reasons or you can contact them. As much as possible I don not put a lot in a bank, i put them in my wallet most often.

[HAARP]

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!

I have not trusted banks for 4 years since the Lehman brothers crysis happened. They're only exploiting the poor's goney to grow more and more. I met with coin world fortunately and started to put my capital here.

[marcuslong]

Most of all why not to trust bank?? Banks are protected by our government in your case it really matter to submit a report about what really happened. Why not go there and ask the manager bank is the safest one to put our money with or without the earn percentage of every deposit we've got

[Finestream]

Most of all why not to trust bank?? Banks are protected by our government in your case it really matter to submit a report about what really happened. Why not go there and ask the manager bank is the safest one to put our money with or without the earn percentage of every deposit we've got

I trust bank and I Know most people are trusting bank, whatever they do we have nothing to do with it since they are in power and no other way of keeping our cash safe. The government has to do their job protecting the people when we have our deposits to preserved the confidential information.
Bank is a business of trust, they should not ruin that, otherwise people will risk their money to save in bitcoin or other crypto currencies.

[orions.belt19]

Banks shouldn't be able to close accounts all of a sudden without any explanation. Banks should function for the convenience of the public and shouldn't be problematic to its account users. Once a bank closes down, account holders are entitled to a certain amount of their money back as long as the bank is under an insurance company. To this day, many people still trust banks. My advice to you is to not rely on a sole bank, because it may be inevitable to shut down or have a crisis. Like what many people have said here, it would be good to instead invest on bitcoin and perhaps "create a bank" with it.

[Mikellev]

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.

[Weatherby]

The author told which bank had frozen his account and provided some details. Further, banks have been known to lock, block, or otherwise limit access to accounts of even most law-abiding citizens. It doesn't really matter whether you are in a civilized or uncivilized world. You are just very unfamiliar with this matter (a typical case of Dunning–Kruger syndrome). And as a cherry on the cake or jewel in the crown, you may want to read about the Cyprus haircut where money of ordinary depositors has just been taken (read stolen) by the Cypriot government
Just in case, Cyprus is part of the European Union

I am not a very rich man like the OP,but how can a bank hold his funds without any reason,he could approach the legal system to find out the reason behind that and i am pretty sure that he could get those funds back if it is from a legal source,assuming that Cyprus has a good legal system and not corrupted government.

[GreenBits]

When you get a little older, you will find that banks are a neccesary evil. Cash is great, but the government takes a dim eye when citizens collect large amounts of fiat. For example, try purchasing a house or a car above 10k with fiat; you can't. In the same vein, it's damn near impossible to remit certain bills in fiat (you would need a money order at least, it's a PITA). And although it may be cheaper if you make under x annually, you will die a death of a million cuts from check cashing fees. Banks aren't a bad idea, they just do it wrong.

Banks shouldn't be able to issue shares, IMO. Shareholders (pleasing them at least) cause so many issues.