You should never trust banks

[deisik]

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

I think it largely depends on jurisdiction

On the other hand, does PayPal need a court order to freeze someone's account? Judging by the number of people thinking of this service as scam operators, they don't need any such order altogether to lock or freeze an account. I guess with banks it is pretty much along the same line. If they think that someone is, for example, laundering money, they could just suspend all activity associated with that account on their own without prior notice until they themselves or special agencies investigate the issue

[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.

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.

You obviously overlooked details in my original post. The banks in the United States DO NOT need court order at all to freeze or cancel anyone's account. There are NO such laws require banks to obtain court orders to kick their customers out. If you want to sustain your views then please bring evidence to the table.

[crairezx20]

It is impossible that banks can do that without any reason.. here in my country if it will happen we can bring it to the court like you but in your place like you said you can not bring it the court because there is no law for removing accounts to banks.
Maybe you doing illegal that is why their remove your account and your money are gone..
Did you read carefully the regulations or rules in your place about your bank account?
Because here in my country they can not do that..

[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.

You obviously overlooked details in my original post. The banks in the United States DO NOT need court order at all to freeze or cancel anyone's account. There are NO such laws require banks to obtain court orders to kick their customers out. If you want to sustain your views then please bring evidence to the table.

Probably I overlooked the details, but i think there is something we are missing in the story .  If you are all clean then you can just file your case in the court.  It is much better than airing it here.  At least in there your case might probably solved.

[mastica]

For sure there is some information missing here, if the money were earned clean, justice will refund your money, i doubt any bank here where i live try to make such, if we go to justice bank will loose 10-40x more the ammount they stoled, the bad thing is that banks will try to delay and pay your lawyer soo you loose and the bank can win.

[Bitcoinsummoner]

For sure there is some information missing here, if the money were earned clean, justice will refund your money, i doubt any bank here where i live try to make such, if we go to justice bank will loose 10-40x more the ammount they stoled, the bad thing is that banks will try to delay and pay your lawyer soo you loose and the bank can win.

Yeah if it earn clean and no illegal activity while you are saving in the bank they should not do this to you. if its happen you should do something to get your money back because it is not good and i think you can be still start and report it to the court even there is no laws suspending or banning your account and money are gone.. you should do something like tell the lawyer someone thieves your money and report the bank.. i think this is acceptable..

[antonioa]

For sure there is some information missing here, if the money were earned clean, justice will refund your money, i doubt any bank here where i live try to make such, if we go to justice bank will loose 10-40x more the ammount they stoled, the bad thing is that banks will try to delay and pay your lawyer soo you loose and the bank can win.

Yeah if it earn clean and no illegal activity while you are saving in the bank they should not do this to you. if its happen you should do something to get your money back because it is not good and i think you can be still start and report it to the court even there is no laws suspending or banning your account and money are gone.. you should do something like tell the lawyer someone thieves your money and report the bank.. i think this is acceptable..

Yes you are right. you can not just keep quiet and wait. It is necessary to write a complaint, require explanations from the bank administration. It is advisable to make a written response, they then contact a lawyer

[kryptqnick]

I understand that so many people and corporations use banking system but I always thought it is still not worth trusting. I withdraw the money every time I recieve it on my card because of that. However, bitcoin is something close to the bank for me in this way. It is some numbers on my computer, reassuring me that the money is there. I don't withdraw btc rightaway. Maybe, because it is just to hard to do that each time and because there is a chance to get extra money because of the price risings.

[Supercrypt]

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.

I think most of the banks are now trusted and safe investment, as banks are now becoming more advance hence there are very little chance that they will scammed you, saving your money in banks is not a risk, your money could be safe there also. You may stop trusting your banks when you stop trusting your government.

[Zisove28]

I trust banks. I have never had problems with them. I am sure that my savings in the bank in full safety.

[g2com]

First, people confuse bank's business with jurisdiction. Banks are not law enforcements and do not conduct criminal investigations or press charges. They have zero knowledge of how did you get the money and don't care. How can you tell which is illegal from a bunch of transfers? All they want is to fool you into hand your hard earned money over to them then they will use your money to gameble for higher returns. Many banks even assist criminals. "Behind every great fortune there is a great crime", goes Balzac. Banks are criminal themselves. My case is a bit extreme, but it is crucial to raise alert.

[jossiel]

I trust banks. I have never had problems with them. I am sure that my savings in the bank in full safety.

I do trust banks also with my deposits even though they are giving me small interests which is just a cents for both of us.

But with securing my money in their jurisdiction, I like how my local bank treats my account specially when visiting their branch.

They might be corrupt in some other ways that we don't know but I'm not affected and don't have issue with them.

[Xenophoto]

Even though it's pretty easy to store your own money (unless you have millions of them), the services available online or IRL all forces you to open a bank account. For example, in order to withdraw your bitcoins, you need to withdraw then using your bank account. I have my bank in very minimal use. I only use it when I withdraw my bitcoins. I don't think they will shut down my account for that.

As for OP, if he had those money in bitcoin form then no one could ever shut down his account.

[cpfreeplz]

First, people confuse bank's business with jurisdiction. Banks are not law enforcements and do not conduct criminal investigations or press charges. They have zero knowledge of how did you get the money and don't care. How can you tell which is illegal from a bunch of transfers? All they want is to fool you into hand your hard earned money over to them then they will use your money to gameble for higher returns. Many banks even assist criminals. "Behind every great fortune there is a great crime", goes Balzac. Banks are criminal themselves. My case is a bit extreme, but it is crucial to raise alert.

But what was the logic in their eyes? Did they assume you were laundering money somehow or what? This doesn't make any sense. Did you not get a detailed outline / timeline from them either on the phone or via mail? Jeez Louis I'd say get used to bitcoin because that's all you'll be using from now on to store wealth I'm sure!!

[South Park]

A terrible story specially since it seems big money was involved, but let this be a lesson to all of us, if you need to use banks for some reason, maybe that is the way you are paid, or you need it for some other reason, don't forget to keep the minimum that you can in the bank since they can seize it very easily and worst of all with the backing of the government.

[madwica]

Why you should not trust bank, bank is the government regulated business and it will hold money for our future that is why bank is trusted in holding our money just only choose the bank who have good reputation.

[kratarzu]

Soon banks will adopt Bitcoin, people will put their bitcoin on bank and the same story all over again....

[stomachgrowls]

Soon banks will adopt Bitcoin, people will put their bitcoin on bank and the same story all over again....

I dont think soo that banks would able to accept bitcoin and government will not approve such act hence bitcoin is decentralized and also people would not surely tend to put bitcoin on a bank because being anonymous is really a great feature for me and why bother to put in the bank,? you are just exposing your identity especially when you do hold lots of bitcoin.To OP, banks could possibly freeze your account if you do have violations.

[xIIImaL]

Why you should not trust bank, bank is the government regulated business and it will hold money for our future that is why bank is trusted in holding our money just only choose the bank who have good reputation.

But the Banks use put interest on our head for loan and credit card charges in highly on our head but bitcoins is money regulations where there is no any rules like put a extra charges or interest like banks. It's simply independent one.

[ArdiPrabowo]

Soon banks will adopt Bitcoin, people will put their bitcoin on bank and the same story all over again....

I dont think soo that banks would able to accept bitcoin and government will not approve such act hence bitcoin is decentralized and also people would not surely tend to put bitcoin on a bank because being anonymous is really a great feature for me and why bother to put in the bank,? you are just exposing your identity especially when you do hold lots of bitcoin.To OP, banks could possibly freeze your account if you do have violations.

I think if only use bitcoin technology is no problem
but if full aprove and accepted bitcoin must and need regulated in goverment
nothing regulated , bank is still afraid full aparove and acepted bitcoin