You should never trust banks

[robelneo]

Whether we like it or not banks are here to stay,they help the economy and companies too,better get an advice to your lawyer,you can sue them ,here in our country we have a central bank that monitor and govern bank activities  each country has one,you should do something about it,it involves a huge amount.

[1715414304]

1715414304

[1715414304]

1715414304

[1715414304]

1715414304

[1715414304]

1715414304

[Bitcoin0916]

Until now I had only one bank account. From the first known bank, I don't like banks, when we save money very easily, but when want to take the money is too difficult, and put some money in the bank's results were never profitable.

[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.

Give your reputation in this forum, I can tell it's a subsidiary of Bank of America. I had unpleasant experience with them. Lesson learned, you should always keep most of your assets under direct control, and no more than $1000 in banks.

[goldcoinminer]

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.

Give your reputation in this forum, I can tell it's a subsidiary of Bank of America. I had unpleasant experience with them. Lesson learned, you should always keep most of your assets under direct control, and keep no more than $1000 in banks.

Well, that bank not quite familiar to me as I do not reside in the US nor to a place where such bank have subsidiaries. I believe it's almost the same banking principle they are using as banks has a central bank that monitored them.

With relation to the problem, not in my life I have experience my account has been close, God forbid but my experience as a banker, we only close or freeze accounts when there's an order by the court to do so.

In a day to day operation of the bank as well, we do receive memorandum from AMLC for suspicious person and we double check it with our system and report directly to them in an encrypted report file.

[noictib]

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 am in your favour because also faced the same problem about three years Ago . I got loss about of $230 And said that you have not made any transaction for two years so we closed your account .
So now I think Bitcoin us best option vs bank .

[deisik]

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.

The question is not about some bank going bust and you receiving your money back soon thereafter from an agency where bank deposits are insured. The question is about a bank arbitrarily freezing accounts of their clients without providing any info as to why they chose to do that. I can confirm that it is not uncommon. In this case, the strange thing is that the bank refuses to return the funds without any explanation. At least, that's what I got from the OP's posts. Maybe, he is involved in child pornography but doesn't want to admit this...

If I were him I wouldn't either

[uname]

Until now I had only one bank account. From the first known bank, I don't like banks, when we save money very easily, but when want to take the money is too difficult, and put some money in the bank's results were never profitable.

Lol yeah moreover we will be constrained to take the money in one day, you will not be able to take all your money in one day at the bank. different from the bitcoin
That's why I never save a lot of money in the bank

[Yutikas_11920]

Until now I had only one bank account. From the first known bank, I don't like banks, when we save money very easily, but when want to take the money is too difficult, and put some money in the bank's results were never profitable.

Lol yeah moreover we will be constrained to take the money in one day, you will not be able to take all your money in one day at the bank. different from the bitcoin
That's why I never save a lot of money in the bank

That is certainly true, but everyone has different opinions and thoughts. So according to you it is good, but not yet tentun according to some good people. So do what you think is right and let someone do what they think is right. For all the things that we do not violate applicable law then all that something isn't a problem for everyone. In addition the bank and bitcoin has advantages and disadvantages of each

[blackmachinegun]

   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.

I think there is nothing forcing you to use a bank, my parents did not use the bank and he kept the money dibrankas and it was not a problem for the government, I think it's your choice to believe in bitcoin and save your money there or do not believe though it is not a problem

[Factmine]

Why not? Banks have been here for the longest time. Banks was created to make life easier. If there were no banks you would be carrying all your gold on you back just to keep it safe. If it was not gold, how bout carrying a million of your currency in your pockets? I trust banks they make my life easier.

[mindrust]

I trust no-one.

I withdrew all of my balance 1 month ago from the banks.  Left only a small portion just to pay my bills and other payments. Rest is mostly in gold and cash and some bitcoins.

Banks always can go bankrupt and even if your balances are secured by the governments, who are they anyway, i don't trust them neither.

[stomachgrowls]

I trust no-one.

I withdrew all of my balance 1 month ago from the banks.  Left only a small portion just to pay my bills and other payments. Rest is mostly in gold and cash and some bitcoins.

Banks always can go bankrupt and even if your balances are secured by the governments, who are they anyway, i don't trust them neither.

Banks could possibly goes bankrupt anytime no matter how secure they are. You are right we should really not trust banks at all and its much better that we hold off our own money rather than letting those into government. Bitcoin is a good option but you should really took up the risk of lossing money when price deflates.In the case of op i dont believe that banks could easily freeze or hold anyones account.

[saiha]

Why not? Banks have been here for the longest time. Banks was created to make life easier. If there were no banks you would be carrying all your gold on you back just to keep it safe. If it was not gold, how bout carrying a million of your currency in your pockets? I trust banks they make my life easier.

I can't see some reason why we should not trust banks. I may hate them because of making my deposits used for their lending service.

And also a factor that they are charging their customers with different crazy fees even though we don't know what they are charging.

But that's how banks go and get's life but with their system, I trust them for securing my money while in its on their hands.

[deisik]

I trust no-one.

I withdrew all of my balance 1 month ago from the banks.  Left only a small portion just to pay my bills and other payments. Rest is mostly in gold and cash and some bitcoins.

Banks always can go bankrupt and even if your balances are secured by the governments, who are they anyway, i don't trust them neither.

It doesn't matter if you don't trust anyone. What matters is how many people trust you. Or, in this case, whether government trusts you

I can't see some reason why we should not trust banks. I may hate them because of making my deposits used for their lending service

You are paid interest from the money that banks earn by giving out loans to other people

In fact, banks don't need our deposits to lend out money. This is what we have been taught, but it was a blatant lie. In real life, banks can create loans basically out of thin air. So your deposits are irrelevant since crediting capacity of banks is limited only by the amount of people who are willing to borrow. On the other hand, I think many people would be happy to lend out their bitcoins if they were somehow insured from the defaults and outright scams by borrowers...

[mindrust]

I trust no-one.

I withdrew all of my balance 1 month ago from the banks.  Left only a small portion just to pay my bills and other payments. Rest is mostly in gold and cash and some bitcoins.

Banks always can go bankrupt and even if your balances are secured by the governments, who are they anyway, i don't trust them neither.

Banks could possibly goes bankrupt anytime no matter how secure they are. You are right we should really not trust banks at all and its much better that we hold off our own money rather than letting those into government. Bitcoin is a good option but you should really took up the risk of lossing money when price deflates.In the case of op i dont believe that banks could easily freeze or hold anyones account.

Thanks for your warning but I am not holding crazy amounts. (%3 at the moment) I don't trust bitcoin neither If bitcoin ever hits 0$, it won't make much damage to my portfolio. Holding %7 gold and this will fail a lot more it seems, i ll buy more and increase the amount when it sees below 1000$ (if it ever does... if not, i'll keep holding, i got time, i have patience:)) Invested my %20 in someother stuff and holding %70 as cash, waiting for more cheap stuff/opportunities.

[deisik]

I trust no-one.

I withdrew all of my balance 1 month ago from the banks.  Left only a small portion just to pay my bills and other payments. Rest is mostly in gold and cash and some bitcoins.

Banks always can go bankrupt and even if your balances are secured by the governments, who are they anyway, i don't trust them neither.

Banks could possibly goes bankrupt anytime no matter how secure they are. You are right we should really not trust banks at all and its much better that we hold off our own money rather than letting those into government. Bitcoin is a good option but you should really took up the risk of lossing money when price deflates.In the case of op i dont believe that banks could easily freeze or hold anyones account.

Thanks for your warning but I am not holding crazy amounts. (%3 at the moment) I don't trust bitcoin neither If bitcoin ever hits 0$, it won't make much damage to my portfolio. Holding %7 gold and this will fail a lot more it seems, i ll buy more and increase the amount when it sees below 1000$ (if it ever does... if not, i'll keep holding, i got time, i have patience:)) Invested my %20 in someother stuff and holding %70 as cash, waiting for more cheap stuff/opportunities.

The gold avenue may lead you nowhere in the end

Do you have patience to wait another 40 years, only to find out at the end of the day that gold didn't even outperform dollar inflation? In inflation adjusted dollars gold is still below its all-time highs that it reached in early 1980s, and by a good margin at that. Indeed, it cannot hit the ground, but if we are going to be honest to ourselves, we will have to admit that gold is far from being a good investment altogether, even in the long term. And in the long term specifically, if you want me to put it this way

[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.

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.

Honestly I just know from you. Perhaps we are in a different country so I do not know more. Because in my country there are still many people who believe the bank and all of the salaries received by the bank. But I still want to know even more, and you have not answered my question ... when they close your account, what are their reasons? I'm sure they have a reason and I want to know. It was a very large amount and I think you could ask for legal protection from the government.

[serjent05]

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.

In this case the account is closed and the bank is still operational.  I think Op is hiding something.  As far as I know bank cannot freeze or close your account unless there is a court order.  About balances being drained, there is a fee using their service to store your money.  So don't surprise if in the long run your account balance become negative.

-snip-
In a day to day operation of the bank as well, we do receive memorandum from AMLC for suspicious person and we double check it with our system and report directly to them in an encrypted report file.

Hear it from the bank guy.  This might be the case with OP.

[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.

In this case the account is closed and the bank is still operational.  I think Op is hiding something.  As far as I know bank cannot freeze or close your account unless there is a court order.  About balances being drained, there is a fee using their service to store your money.  So don't surprise if in the long run your account balance become negative.

-snip-
In a day to day operation of the bank as well, we do receive memorandum from AMLC for suspicious person and we double check it with our system and report directly to them in an encrypted report file.

Hear it from the bank guy.  This might be the case with OP.

Thats what im suspecting too on which OP do hide something here and not too much elaborating on the actual situation why the bank did close his account because theres no crazy bank would tend to close an account without any valid reason and if they do such act then you might done a thing that is against their rules.Its just simple as that. Better to tell us the true reason.

[BitcoinHodler]

well this is a rare incident and we don't even have all the honest information to be able to decide. the only thing i can say is that i have never heard of anyone who has experienced something similar to this in all my life.

besides even if this happens and it is banks fault you can easily go to a lawyer and starting working on some solution.