You should never trust banks

[TastyChillySauce00]

Banks can not just block the account. Or is the reason, or that the bank was not, as some financial institution without a license. Call the police

Right, there's must be a rule in the government that protecting customer for any kind of problem like this. Only illegal bank would disable their client's account immediately, maybe OP could send a report to their country's central bank so they will make an investigation to the bank only if OP really do nothing wrong

That's true, even their clients are depositing money from their illegal source they don't care about it as long as they have customers that are depositing to their global fund it doesn't matter to them. Because that money will be used for lending to their other customers too so they won't mind about it.

I can't agree with this. Banks are very interested where the money comes from, at least in my country. Especialy above certain amount they ask a lot of questions and if something is suspicious or the amount of funds is too big they report it to anti money laundering office.
But I agree with the statement that banks shouldn't be trusted.

That's so normal that they're actually obligated to always questioning their clients about where the money come from and being ordered to do this by the government themselves. it's to prevent from money laundering but in my country, if you answer it they will simply trust it and make you as their clients because they're now seeking to customers as much as they can.

 Well, that's fact and ironic

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[deisik]

In most cases banks do care where money of their clients comes from. They do implement anti money-laundering policies, and sometimes even legit clients have their accounts frozen for no apparent reason at all. We pretty much don't know what happened to the OP in respect to his money in the bank, but to say that banks don't care about money obtained from illegal activities sounds too far-fetched, in my opinion...

And no, banks don't need their customers' money to lend it to other customers

Banks do indeed care about where money is coming from. I was "gently" asked by my bank some time ago to stop using my bank account in combination with Bitcoin, or they will immediately cut all ties with me as customer, and thus close my banking account. I asked them what the reason was for this drastic measure, and they told me that they can't verify where the money is coming from. I offered them to show all details regarding where this money is coming from, but they were clear and didn't really care - I had to stop using Bitcoin. I transferred all the money I had there to a different bank, and asked them to shut it down straightaway.

That's how the system works

When you first encounter that yourself, it may be a true eye-opener to you, an experience that gives you a sudden realization of how things actually work in real life, maybe even a revelation of sorts. You somehow think that the money you earn belongs to you, and it is no one else's business where you got it from as long as you are not involved in outright illegal activities. Authorities obviously tend to disagree with that point of view, and you can basically do nothing with that

[geopolisch]

Banks are very interested where the money comes from, at least in my country. Especialy above certain amount they ask a lot of questions and if something is suspicious or the amount of funds is too big they report it to anti money laundering office.
But I agree with the statement that banks shouldn't be trusted.

Yes bank are not at all working for our wellness but they simply are concentrating only on the ways how they could charge fees or taxes from us. It means they are working as some agent of government or tax representatives.

But we definitely need a friendly banking services but that is not at all offered so far. Then why we keep on trusting our bank system.

[Sir Alpha_goy]

Then how do I buy Bitcoin?

I need a bank account to do it.

[acroman08]

Well because it is happening here in my country regardless where you money came from, the banks will not even question it but it depends on how you will deposit. But if it is written in your bank account that you are not employed and you will deposit $25,000 then they will question it. But if you will deposit little by little they won't mind it.

Yes, the banks do ask where the money comes from. Especially when we're talking big numbers. They'd even go so far as to ask for papers,documents,proofs. If it's small amounts, they don't really care.

As for banks being able to close accounts without any reason, they can. They don't have to state any reason nor would they be required to. They don't normally do this but it happens.
They don't however, take the funds.

What happens to the remaining money in my account?
A bank must return all money remaining in your account at the time it closes the account, less any interest or fees that apply. A bank normally does this by sending a cheque to your last known address.

https://bankomb.org.nz/news-and-publications/quick-guides/item/closure-of-accounts
 

[imbladednow]

I fucking cant agree more. Banks are there to take our money from us. They are all one big sham and thanks to bitcoin I dont need banks anymore.

[justdimin]

we definitely need a friendly banking services but that is not at all offered so far. Then why we keep on trusting our bank system.

Hopefully in future we may not require a banking services for our financial needs. Yes only for loans and interests we are going for bank. But if we are able to get loan from other people and banks may be stopping paying interests. So, just a bitcoin wallet will be more than enough in future. No longer needed trusting our existing banking systems.

[harizen]

we definitely need a friendly banking services but that is not at all offered so far. Then why we keep on trusting our bank system.

Hopefully in future we may not require a banking services for our financial needs. Yes only for loans and interests we are going for bank. But if we are able to get loan from other people and banks may be stopping paying interests. So, just a bitcoin wallet will be more than enough in future. No longer needed trusting our existing banking systems.

To remove all your dislikes with the banking system, hope for a bitcoin exchange company per country that can do a direct deposit and withdrawals alone without the help of any payment processor or banking services. It's kinda more hassle in my own view and lots of works will be made since people will rely only to that exchange to process their deposits and withdrawals. Some exchanges using bank service in able to make deposits and withdrawals more comfortable and convenient.

In the case of OP, it's a different story so don't take it as general. We all don't know the case behind that OP's concern so we can't just conclude all things accurately and precisely.

[Zadicar]

Then how do I buy Bitcoin?

I need a bank account to do it.

Actually you could able to buy bitcoin without the need of a bank account since you could able to do transactions with p2p and any other ways that some people do usually use.Banks are good for the security of our money especially on huge amounts but as i saw on the situation of OP i dont know whats the exact reason why his account been froze on such reason.

[goldcoinminer]

Then how do I buy Bitcoin?

I need a bank account to do it.

Actually you could able to buy bitcoin without the need of a bank account since you could able to do transactions with p2p and any other ways that some people do usually use.Banks are good for the security of our money especially on huge amounts but as i saw on the situation of OP i dont know whats the exact reason why his account been froze on such reason.

Exactly, we do not need them anymore. We can buy without the intervention of bank and in fact bitcoin was created to do banking without bank. That's the main reason because some does not trust bank to share their sensitive information, and when we have money in bank it's automatic that the government will know how much liquid assets we have. So, bitcoin was create to relieve that fear and here we are now anonymous with money at bitcoin.

[1Referee]

Then how do I buy Bitcoin?

I need a bank account to do it.

Actually you could able to buy bitcoin without the need of a bank account since you could able to do transactions with p2p and any other ways that some people do usually use.Banks are good for the security of our money especially on huge amounts but as i saw on the situation of OP i dont know whats the exact reason why his account been froze on such reason.

There are indeed several ways of buying Bitcoin without a bank account, but mostly they are not that convenient. I personally prefer buying Bitcoin with my bank account as it is very easy and I receive my coins instantly. If you want to buy Bitcoin with cash money for example, you first need to find a person in your area that you also can't trust (high trust rating on sites doesn't matter), then you have to talk through the deal where you set a time and date, then you have to wait for one or more confirmations depending on the size of the transactions, etc. And then I didn't even mention the possible steep fees that people charge for selling coins. Too much hassle.

[deisik]

Then how do I buy Bitcoin?

I need a bank account to do it.

Actually you could able to buy bitcoin without the need of a bank account since you could able to do transactions with p2p and any other ways that some people do usually use.Banks are good for the security of our money especially on huge amounts but as i saw on the situation of OP i dont know whats the exact reason why his account been froze on such reason.

There are indeed several ways of buying Bitcoin without a bank account, but mostly they are not that convenient. I personally prefer buying Bitcoin with my bank account as it is very easy and I receive my coins instantly. If you want to buy Bitcoin with cash money for example, you first need to find a person in your area that you also can't trust (high trust rating on sites doesn't matter), then you have to talk through the deal where you set a time and date, then you have to wait for one or more confirmations depending on the size of the transactions, etc. And then I didn't even mention the possible steep fees that people charge for selling coins. Too much hassle.

Okay, we seem to have all agreed that banks may (and often do) ask you where the money you are going to add to your account (or sending from another bank account) is coming from, especially if the amount to be transacted is high enough. Banks can even refuse to open an account or choose to close an existing one at their own discretion. That's not good, of course, but at least, it has some logic behind (money-laundering and that sort of thing)...

But could the banks as well ask where and for what purpose exactly you are sending your money?

[ubitcoin]

we definitely need a friendly banking services but that is not at all offered so far. Then why we keep on trusting our bank system.

Hopefully in future we may not require a banking services for our financial needs. Yes only for loans and interests we are going for bank. But if we are able to get loan from other people and banks may be stopping paying interests. So, just a bitcoin wallet will be more than enough in future. No longer needed trusting our existing banking systems.

Yes possible. Already in many countries banks had stopped paying interestes to people's saving instead of that they have started collecting fees for keeping money in banks. P2P loans are getting more famous now a days so I guess a traditional banking system will become literally useless. Still, governments will have banks just to rule people in financial way. But that will not force us to trust them.

[South Park]

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.

Banks and bankers are not to be trusted because they care only for themselves, they don't have your best interest on mind and will throw you under the bus at the first opportunity they get.

Banks are already regulated to keep citizens' money and be sure to make them safe whilst bankers are only care for themselves, it's wrong to say that banks only care for themselves because bank is the factor that keeping your country's economy good until now,without bank the economy seem can't be healthy

I disagree, so what if they are regulated? Banks have been guilty of mismanaging the money of their clients too many times despite all of those regulations so it's very safe to say that we must not trust them and that is why keeping the money on bitcoin is a good option since we have complete control over our coins.

[virasog]

Then how do I buy Bitcoin?

I need a bank account to do it.

Actually you could able to buy bitcoin without the need of a bank account since you could able to do
transactions with p2p and any other ways that some people do usually use.Banks are good for the security
of our money especially on huge amounts but as i saw on the situation of OP i dont know whats the exact reason
 why his account been froze on such reason.

Exactly, we do not need them anymore. We can buy without the intervention of bank and in fact
bitcoin was created to do banking without bank. That's the main reason because some does not trust bank
to share their sensitive information, and when we have money in bank it's automatic that the government will
know how much liquid assets we have. So, bitcoin was create to relieve that fear and here we are now anonymous with money at bitcoin.

Yes, that is how bitcoin is so convenient compared to other money transaction nowadays, bitcoin doesn't have any closed accounts terms unless you deactivate your account.
Bank account gets your special information unlike bitcoin, they let you be anonymous and make your information unidentified by other users.

[Carlsen]

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.

Banks and bankers are not to be trusted because they care only for themselves, they don't have your best interest on mind and will throw you under the bus at the first opportunity they get.

Banks are already regulated to keep citizens' money and be sure to make them safe whilst bankers are only care for themselves, it's wrong to say that banks only care for themselves because bank is the factor that keeping your country's economy good until now,without bank the economy seem can't be healthy

I disagree, so what if they are regulated? Banks have been guilty of mismanaging the money of their clients too many times despite all of those regulations so it's very safe to say that we must not trust them and that is why keeping the money of bitcoin is a good option since we have complete control over our coins.

Honestly, when it comes to terms of money, there is nobody I would trust.
Money, it does not matter in what form, represents the time of my life I had to use to earn it.
And I will never be careless wit that. I usually check every thing I do with money. If the amount is higher I double check.
That includes banks as well.

[deisik]

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.

Banks and bankers are not to be trusted because they care only for themselves, they don't have your best interest on mind and will throw you under the bus at the first opportunity they get.

Banks are already regulated to keep citizens' money and be sure to make them safe whilst bankers are only care for themselves, it's wrong to say that banks only care for themselves because bank is the factor that keeping your country's economy good until now,without bank the economy seem can't be healthy

I disagree, so what if they are regulated? Banks have been guilty of mismanaging the money of their clients too many times despite all of those regulations so it's very safe to say that we must not trust them and that is why keeping the money of bitcoin is a good option since we have complete control over our coins.

Honestly, when it comes to terms of money, there is nobody I would trust.
Money, it does not matter in what form, represents the time of my life I had to use to earn it.
And I will never be careless wit that. I usually check every thing I do with money. If the amount is higher I double check.
That inludes banks as well.

In God we trust, all others must pay cash

It is a spot-on observation that money represents some time of our lives, and this is applicable to almost anyone. That's yet another reason why we should be double vigilant given that money itself has no value and the money tokens can quickly lose the quality of being money due to sudden devaluations, confiscatory monetary reforms, rogue banks and things like these. And just in case, Bitcoin is no exception to this rule either

[bajing]

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.

Banks and bankers are not to be trusted because they care only for themselves, they don't have your best interest on mind and will throw you under the bus at the first opportunity they get.

Banks are already regulated to keep citizens' money and be sure to make them safe whilst bankers are only care for themselves, it's wrong to say that banks only care for themselves because bank is the factor that keeping your country's economy good until now,without bank the economy seem can't be healthy

I disagree, so what if they are regulated? Banks have been guilty of mismanaging the money of their clients too many times despite all of those regulations so it's very safe to say that we must not trust them and that is why keeping the money of bitcoin is a good option since we have complete control over our coins.

Bank establishes these regulations because of government policies, I think we still have full control of our money in the bank and i don't understanding what you mean if bank has mismanaging the money?

[Factmine]

I trust bank now and for a while until there is a better and clear better option. We can transact yet without banks. For now the whole world is still ran by fiat currency hence we can't let go of banks yet. But probably when the whole world adopts bitcoins then we could all be our banks. Then we can just move on and forget banks and financial corporations.

[xIIImaL]

I trust bank now and for a while until there is a better and clear better option. We can transact yet without banks. For now the whole world is still ran by fiat currency hence we can't let go of banks yet. But probably when the whole world adopts bitcoins then we could all be our banks. Then we can just move on and forget banks and financial corporations.

According to banks are idiotic business, where the banks use to loot common people money by the name of fees and penalties. However Bitcoin is completely different just only fee for the transaction. Other than that everything different than banks.