You should never trust banks

[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.

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.

As I said, it would require tremendous effort to change the situation, probably revising the laws first. It's been over a year since my money was robbed by them and how do you expect robbers to voluntarily return your money? That's why I started building a blockchain and hoping it can change the financial landscape of this world.

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[Betwrong]

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.

They may close your account for whatever reasons they find appropriate, but they certainly may not rob you. Give your case to a good lawyer and I'm sure they will help to have your funds back. How much you've lost btw? Even if you have no money for a good lawyer right now you can promise them a payment after returning your money.

[freedomgo]

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.

They may close your account for whatever reasons they find appropriate, but they certainly may not rob you. Give your case to a good lawyer and I'm sure they will help to have your funds back. How much you've lost btw? Even if you have no money for a good lawyer right now you can promise them a payment after returning your money.

You can't trust banks to keep your information private but they'll never gonna rob you, they are in business and banking is a business of trust so definitely they will keep their reputation to continue their business.

[Mastsetad]

Sad to hear what happened to you. I don't really have a lot of information about bank account systems and all because i never had one, though never heard anything like this happening to anyone in my country, it maybe happened but it is not really so often i guess.

[Mario274]

I also do not trust banks. I had money in a deposit account, but then I learned that the bank has gone bankrupt. I could not take my money. As a result, only due to the fact that my deposit was safe, I was able to get their money back

[chesatochi]

I never get any trouble with any banks, if you don't do anything illegal they will never close your bank account in the first place. I think you should hire a good lawyer to at least get your money back in order for transferring the money somewhere else.

[s1ng]

There are similiar case at my place, the bank called century was declare bankrupt so people who save money there are facing major loss
AFAIK, if there is a sign of collapse bank , just pull all fund at once so we can prevent for lossing

[IIOII]

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.

Yes, banks are the extended arm of government. You can see that if you consider their role in the fiat money system. They create money from debt. So I don't think it's surprising that you don't receive help from anybody. All these consumer protection agencies have no legal power for good reason. They can only issue laughable recommendations.

Government and banks are doing what they see fit with people's finances. So it's about time to bypass them and switch to Bitcoin. In future, it may even become a question of survival.

[SvenBomvolen]

   I didn't have similar experience with banks, I don't trust them and I don't like them, I'm forced to use their service cause government forced me.
   Banks have too much power in their hands, and many times they abuse that. Bitcoin can really help us to get rid of them once and for all.

[transabox]

   I didn't have similar experience with banks, I don't trust them and I don't like them, I'm forced to use their service cause government forced me.
   Banks have too much power in their hands, and many times they abuse that. Bitcoin can really help us to get rid of them once and for all.

Yes, I too often encounter abuse of power on the part of banks. I was very annoyed. But for several reasons I am forced to keep their money in the bank and use their services

[Milkduds]

Have never heard of this in the U.K and it seems a little odd and most likely not a patterned trend right now.
Suspect there is a miscommunication and its either being exploited or ignored to cause you some struggle.
Without understanding the finer details or amount its hard to gauge what happened and if it is as you state,I would be looking to contact the media and seeing if others have fallen into the same situation.
Having read the 3 pages I still find something lacking to really believe this story as stated,feels like you are leaving out some details that may be on purpose.

[chaser15]

I quite don't believe in his claims.

A reputable bank will not close accounts of it's clients unless violating some legal aspects of their financial terms also closing account means only freeze until further investigation. If does happen, then a client can go directly to the higher state of the law to sued a case. But prior to that, there will be exchange arguments from both parties since reputable bank didn't want to give dirt to their names just because of one person even it has a possession of millions amount of money. It''s against the law that a bank will close account "with no other reason".

If OP is really mad then he can give a shameful comments to that bank throughout social medias. Named that bank and spread the word of yours.

[n691309]

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.

Because we trust them we deposit our money there, and we know that every bank has it own regulator who monitors all bank accounts in a country so we don't have any power to manage "our" funds in the bank, bitcoin is much better but not used by all.

[MingLee]

I personally only trust banks to keep something stored, and I have no faith beyond that. I have yet to experience an account freeze or something along those lines, but I do see a lot of the issues being brought forwards and I respect those who end up on the receiving end of a freeze or whatever.

I prefer keeping my own items in my hands, but sometimes it is a necessary evil.

[g2com]

I quite don't believe in his claims.

A reputable bank will not close accounts of it's clients unless violating some legal aspects of their financial terms also closing account means only freeze until further investigation. If does happen, then a client can go directly to the higher state of the law to sued a case. But prior to that, there will be exchange arguments from both parties since reputable bank didn't want to give dirt to their names just because of one person even it has a possession of millions amount of money. It''s against the law that a bank will close account "with no other reason".

If OP is really mad then he can give a shameful comments to that bank throughout social medias. Named that bank and spread the word of yours.

I had the same disbelief as you did because the bank was reputable, in fact, one of the biggest in the world. However things turned out far beyond my estimation. If you google "bank closed my account without explanation" you will find how many people were in the same boat. A bank doesn't need to wait until you commit a crime to enforce account closure. They can let you go anytime for any reason, even refuse to give your money back. That's why I was so upset. Also this does not occur only in United States.

[g2com]

Have never heard of this in the U.K and it seems a little odd and most likely not a patterned trend right now.
Suspect there is a miscommunication and its either being exploited or ignored to cause you some struggle.
Without understanding the finer details or amount its hard to gauge what happened and if it is as you state,I would be looking to contact the media and seeing if others have fallen into the same situation.
Having read the 3 pages I still find something lacking to really believe this story as stated,feels like you are leaving out some details that may be on purpose.

Bro, you can see other members' replies confirming my story. I have contacted them countless times, even the  government, nothing helped. Banks have grown to so formidable magnitude that even the government can't fight them. In fact when you open an account you automatically put yourself under surveillance. In the US, any transactions over $10000 need to be reported to Financial Crimes Enforcement Network. In China one young man was sentenced to life for taking excessive money because the ATM was broken. All these sound incredible but sadly are true.

[goldcoinminer]

I personally only trust banks to keep something stored, and I have no faith beyond that. I have yet to experience an account freeze or something along those lines, but I do see a lot of the issues being brought forwards and I respect those who end up on the receiving end of a freeze or whatever.

I prefer keeping my own items in my hands, but sometimes it is a necessary evil.

Bank can be trusted since they are regulated by the government and oblige to abide with the existing banking laws and regulation, however if you guys think that you are growing your money putting in bank it's not true due to inflation.

Putting our money in the bank is only good for safekeeping while we are confident it will not be lost when we are not doing illegal activities as it is covered with insurance.

[chaser15]

I quite don't believe in his claims.

A reputable bank will not close accounts of it's clients unless violating some legal aspects of their financial terms also closing account means only freeze until further investigation. If does happen, then a client can go directly to the higher state of the law to sued a case. But prior to that, there will be exchange arguments from both parties since reputable bank didn't want to give dirt to their names just because of one person even it has a possession of millions amount of money. It''s against the law that a bank will close account "with no other reason".

If OP is really mad then he can give a shameful comments to that bank throughout social medias. Named that bank and spread the word of yours.

I had the same disbelief as you did because the bank was reputable, in fact, one of the biggest in the world. However things turned out far beyond my estimation. If you google "bank closed my account without explanation" you will find how many people were in the same boat. A bank doesn't need to wait until you commit a crime to enforce account closure. They can let you go anytime for any reason, even refuse to give your money back. That's why I was so upset. Also this does not occur only in United States.

I understand you feeling but for much detailed discussion named the bank involved.

No worries as it's ok to post it here. We are anonymous here. If you are really mad to that bank then state the name of the bank here. Who knows others have an active account on that said bank and we can have their opinions about this. If ever Im on the position like yours and Im truly upset how bank works, I will proudly shout what bank did shit to me.

[Doms]

From my years of having several bank accounts, I have yet to encounter anything similar to what happened to you. And if ever that happens, isn't there supposed to be a part of your money that's insured? Even third world countries have these deposit insurance thing, and I believe that the US has the same or even better version of it. I still won't hesitate having a bank account, just so I could have a place to store a place for my money temporarily and to use their online banking services.

[Pearls Before Swine]

Hell yes, they're powerful.   But in general there has to be a legal reason why they seize your money or else it amounts to theft.  And I mean illegal theft.  I'm talking the US here, not little communist countries or even big ones.  Still, the point is valid and well taken.