You should never trust banks

[TGD]

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.

Yes I agree I'm still not yet open a bank account and I do not have plan to open it. For me if you save your money in the bank you gave them also chance to use your money for thier bussiness the bank will get more profit than the owner of the money. That's why I dont like it. I will just use my money for my own business and save it on my own.

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[achow102]

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.

Bitcoin is an alternative currency at all times. And banks have to use from time to time, without them is hard to imagine life in a modern society

[TastyChillySauce00]

That just seems quite odd for me because i think bank are not going to close someone's account without any strong reason and evidence.beside of that there's must be something wrong you've done before, but well that's quite reckless to seize their client's fund without givinga notice.
and that also why some people are becoming bitcoin users because they want their funds to be free from the government, bank, or another shitty problem that might come

[icecube45]

When you ask the bank why they close your account, whether their answer? In my opinion there is only one reason why the bank closed the account of the person, ie since the bank go bankrupt. In my country there ever bank that went bankrupt and closed more than 1 million accounts of customers and amount to trillions. I personally still believe the bank because I am sure the bank that I chose is a bona fide bank. You can sue him in court if you do not make mistakes that lead to your account closed.

[Red Fish]

If you open bank account, for example, in Switzerland - bank will not close so fast most possible, especially if it is large bank. Many things depend in which country you open the bank account. If you open bank account in large countries like USA, India or Brazil - who knows, what can happen. In small countries with developed banks system, you can feel more safe. See largest countries here - http://www.geohive.com/earth/area_top50.aspx.

[severaldetails]

In my country there are two kinds of banks.
Private ones and public ones. The private banks can close an account if they want to. They don't even have to give you a reason for closing an account.
The public ones can't do that. They are connected to the state and have to open an account for everybody.
Of course, this account at a public bank is not for free...

[g2com]

When you ask the bank why they close your account, whether their answer? In my opinion there is only one reason why the bank closed the account of the person, ie since the bank go bankrupt. In my country there ever bank that went bankrupt and closed more than 1 million accounts of customers and amount to trillions. I personally still believe the bank because I am sure the bank that I chose is a bona fide bank. You can sue him in court if you do not make mistakes that lead to your account closed.

I had the same believe as you did, until this misfortune happened to me. In fact, tens of millions Americas don't own a bank account at all. They cash their paycheck at payday loan stores or check cashing agencies, which have more locations than McDonald restaurants. People are losing faith in banks.

[BossMacko]

I too doesnt have any trust with my bank, they called me once telling me if i want to have credit cards and i agree because the one who called me is very good in persuading me. I just get the credit card but i didn't used it yet then after a year, a mail came to me from the bank saying that i have 150$ unpaid balance. Then i called them asking why did i have 150$ unpaid balance and they answered me that the 150$ is the annual payment for the credit cards. After that i paid the 150$ and ask them to closed my credit cards.

[Tanic]

That is known for long time that you have to be very careful with banks. They make an illusion that everything is good and saved, and you became relaxed and loose the feeling of danger. They use it against you. That's their way to make money.

[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. 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!

While I certainly agree with your point of view in general, I can't say that all lawyers and courts are massively acting in favor of banks. I can give you an example where bank clients made one bank in my country to cancel their unlawful decision to arbitrarily change an interest rate on the additions to the already opened deposits. After they lost a few lawsuits and paid out much more money than they would have if they didn't make that decision to change interest rates, they finally cancelled that modification to the deposit agreement...

Since if they didn't, people would be suing them en masse besides incurring serious penalties imposed by the supervising agencies

[g2com]

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!

While I certainly agree with your point of view in general, I can't say that all lawyers and courts are massively acting in favor of banks. I can give you an example where bank clients made one bank in my country to cancel their unlawful decision to arbitrarily change an interest rate on the additions to the already opened deposits. After they lost a few lawsuits and paid out much more money than they would have if they didn't make that decision to change interest rates, they finally cancelled that modification to the deposit agreement...

Since if they didn't, people would be suing them en masse besides incurring serious penalties imposed by the supervising agencies

I have contacted the bar association and even if there were lawyers who wanted to help me out of compassion, still tremendous obstacles were to be overcome. Banks always lay traps in their arcane customer agreements and when dispute arises it is us who are always at a disadvantage. Read this: http://www.nytimes.com/2016/08/18/your-money/arbitration-bank-checking-accounts.html

[diodio5]

That is known for long time that you have to be very careful with banks. They make an illusion that everything is good and saved, and you became relaxed and loose the feeling of danger. They use it against you. That's their way to make money.

I think though users bitcoin is growing and very much it would not make bitcoin replace fiat, it's a sure thing! but for a price of course there will not be people who know about it, maybe the price will explode

[error08]

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!

Take all of your money without an explanation why? And you can't argued to get it back, worse scenario that ever happened. I do agree you should no ever trust the banking system in your country. I can't believe it really happen to anyone without any illegal activities or unpaid debts, moreover you had big amount of money. That's why we should divide our wealth into several options, in your case it's better get out of the country.

[Zadicar]

When you ask the bank why they close your account, whether their answer? In my opinion there is only one reason why the bank closed the account of the person, ie since the bank go bankrupt. In my country there ever bank that went bankrupt and closed more than 1 million accounts of customers and amount to trillions. I personally still believe the bank because I am sure the bank that I chose is a bona fide bank. You can sue him in court if you do not make mistakes that lead to your account closed.

I had the same believe as you did, until this misfortune happened to me. In fact, tens of millions Americas don't own a bank account at all. They cash their paycheck at payday loan stores or check cashing agencies, which have more locations than McDonald restaurants. People are losing faith in banks.

This is really a rare situation on when people on America dont have bank account at all which means its really rampant or somehow do happen on some people do have bank accounts thats why they decide not to get an account at all. In your situation i feel sad since the money they froze is huge amount already.

[jondeen707]

I find it hard to believe that they provided no explanation as to why they did that. You sure there have been no developments or communication from them leading to that? would you care to share any details of what you used the account for?

[olubams]

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 want to belief the bank will have a valid reason for closing and the restriction on your account. In the financial system, there are rules and regulations that guide their activities. It is not abnormal for banks to fail but over here, when that happen, another regulatory body will take over most times the insurance body and then ration out the money available to be distributed to deposits holders but it is something soon as it could take sometimes 3 years to set that in motion. The argument is that large money should not be kept with banks but where will we now keep?...

[deisik]

I find it hard to believe that they provided no explanation as to why they did that. You sure there have been no developments or communication from them leading to that? would you care to share any details of what you used the account for?

I also find it rather suspicious

Sometimes banks just refuse to work with a certain client on their own, for whatever reason (e.g. you successfully sued them in the past or something to that tune). I don't know how legal are such refusals overall, and whether they have the right to send a client home, but I've heard about similar cases myself. Unless your funds get arrested for doing something illegal or due to debts, the bank would just return you all the money telling you not to come back again. But that doesn't seem to be that case here

[g2com]

I find it hard to believe that they provided no explanation as to why they did that. You sure there have been no developments or communication from them leading to that? would you care to share any details of what you used the account for?

I also find it rather suspicious

Sometimes banks just refuse to work with a certain client on their own, for whatever reason (e.g. you successfully sued them in the past or something to that tune). I don't know how legal are such refusals overall, and whether they have the right to send a client home, but I've heard about similar cases myself. Unless your funds get arrested for doing something illegal or due to debts, the bank would just return you all the money telling you not to come back again. But that doesn't seem to be that case here

I guess you somewhat hit the point. I did file complaint against my bank at CFPB years ago. The bank had no monetary loss and only answered with a letter. But I totally didn't expect they could have gone so far to close my account and dump all my funds this time.

[olushakes]

I find it hard to believe that they provided no explanation as to why they did that. You sure there have been no developments or communication from them leading to that? would you care to share any details of what you used the account for?

I also find it rather suspicious

Sometimes banks just refuse to work with a certain client on their own, for whatever reason (e.g. you successfully sued them in the past or something to that tune). I don't know how legal are such refusals overall, and whether they have the right to send a client home, but I've heard about similar cases myself. Unless your funds get arrested for doing something illegal or due to debts, the bank would just return you all the money telling you not to come back again. But that doesn't seem to be that case here

I guess you somewhat hit the point. I did file complaint against my bank at CFPB years ago. The bank had no monetary loss and only answered with a letter. But I totally didn't expect they could have gone so far to close my account and dump all my funds this time.

Reading all through from the first page up to this your comment, I now understand that it is not that the bank closed down but its your account that was closed based on that, I expect them to return your money to you since they are not interested in doing business with you again. This is one of the issue I have with systems as everywhere is so corrupted that one does not even have anyone to turn to as you cant even get justice anywhere. What I will suggest is that if you still believe in the justice system just get a lawyer beyond the locality and sue their ass off.

[deisik]

I find it hard to believe that they provided no explanation as to why they did that. You sure there have been no developments or communication from them leading to that? would you care to share any details of what you used the account for?

I also find it rather suspicious

Sometimes banks just refuse to work with a certain client on their own, for whatever reason (e.g. you successfully sued them in the past or something to that tune). I don't know how legal are such refusals overall, and whether they have the right to send a client home, but I've heard about similar cases myself. Unless your funds get arrested for doing something illegal or due to debts, the bank would just return you all the money telling you not to come back again. But that doesn't seem to be that case here

I guess you somewhat hit the point. I did file complaint against my bank at CFPB years ago. The bank had no monetary loss and only answered with a letter. But I totally didn't expect they could have gone so far to close my account and dump all my funds this time.

And what is the ugliest of all that, they most certainly won't tell you the exact reason for refusing, so you will be utterly frustrated and feel bitterly humiliated. Something like that happened to me recently as one of the banks refused to provide a service they had been actively advertising. I didn't in fact need it since another bank is already providing me that service, and I was just testing waters. I didn't ask for a credit (just in case), in fact, they would even get more money directly for me (I would be crediting them), and they just refused me. When I asked for the reason, they said they would look into it...

After "looking into it" for about a week, they come up with outright bullshit explaining the refusal