You should never trust banks

[just_Alice]

The more I trade with banks increasingly make me not trust the banks, let alone to transactions abroad with high costs, after the existence of the bitcoin makes me slowly left the bank.

What banks you are talking about? Do you mean they cheat or that the cost of transactions are high? If you mean the latter I agree, they do charge a lot, but I don't think they are stealing blatantly because you can easily sue them for doing that and you will win.

[cardoyasilad]

Banks are already dying. They should have all died in 2008, but they were too big so taxpayers were forced to clear up the mess. Tellers and associates have already been being replaced by ATM and artificial intelligence. For the past few hundred years we relied too much on banks because people don't have better choices. But that situation is no longer the case if we see widespread adoption of cryptocurrencies

Nope. I think banks are  not dying its very impossible there are so many things we can do in banks we can store our money safely and we can gain profit from them and also you can do a loan if you are a businessman or employee so i dont think so the bank will crash.

[Yutikas_11920]

Banks are already dying. They should have all died in 2008, but they were too big so taxpayers were forced to clear up the mess. Tellers and associates have already been being replaced by ATM and artificial intelligence. For the past few hundred years we relied too much on banks because people don't have better choices. But that situation is no longer the case if we see widespread adoption of cryptocurrencies

Nope. I think banks are  not dying its very impossible there are so many things we can do in banks we can store our money safely and we can gain profit from them and also you can do a loan if you are a businessman or employee so i dont think so the bank will crash.

Yeah, you're absolutely right. Bitcoin forever will never die, and die if the bank all the developments of finance and also all the things about money then it will be a mess and all the things that do not have will only make us bad. The Bank is the thing that makes us the advantage. And also with the bank we can have the convenience of doing all the things that concerned about it. The Central Bank is in the growth of all the money there is in the world i i

[Bigbrowndingleberry]

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!

There is never no reason, there is always a reason. So just be honest they you was doing some shady shit and got found out.

[South Park]

It's impossible to just close your bank account without giving any reason no lawyers will just represent the bank if they violated your contract with them they could get money into it if they see some bank doing illegal things to their customers. I think you just making story into this , no people will stop pursuing money if its so big that you can buy mercedes with that money inside you account.

In my pinion this seems naive banks once they have your money they make the rules, and if for some reason you don't agree you will need to fight their lawyers and guess what? They got the best and the more expensive ones on their side, so most of the time going against a bank is a losing battle and they know that.

[olubams]

The only thing I will say to this is just that only keep the money you dont have any use for in banks and dont keep it there for long because its banks over here that I have seen stress you to keep your money with them, and even stress you more to withdraw it. And they can even stop you from getting access to your money, the one you freely went there to deposit. Its that pathetic...

[Xenophoto]

Should I never trust banks? I don't think so. As I notice here in our country, banks are very useful. They have their clients and customers continue using their service everyday. I have no reason to not trust banks. I know they are legit to operate.

If you read the OP or any other post before you, you should know that the topic here is that you shouldn't trust banks because they can close your accounts without any notice at all. Banks are really useful because almost every website that involves money is connected to banks, atleast most of them. Banks have been there for a long time and people trust it. No wonder why almost everything even in real life is connected to it as well.

At the moment, we seem to have not much option at all. If we're going to operate a business in real life, we need to have a bank account because most people wouldn't pay in bitcoins.

[simpler2016]

It's impossible to just close your bank account without giving any reason no lawyers will just represent the bank if they violated your contract with them they could get money into it if they see some bank doing illegal things to their customers. I think you just making story into this , no people will stop pursuing money if its so big that you can buy mercedes with that money inside you account.

In my pinion this seems naive banks once they have your money make the rules, and if for some reason you don't agree you will need to their lawyers and guess what? They got the best and the more expensive ones on their side, so most of the time going against a bank is a losing battle and they know that.

You can not advance to accept his defeat. There is always a sense of fighting for their rights. If there is a violation of the law, there must be a restoration of rights. If banks are not right, then they need to be brought to justice

[South Park]

It's impossible to just close your bank account without giving any reason no lawyers will just represent the bank if they violated your contract with them they could get money into it if they see some bank doing illegal things to their customers. I think you just making story into this , no people will stop pursuing money if its so big that you can buy mercedes with that money inside you account.

In my pinion this seems naive banks once they have your money make the rules, and if for some reason you don't agree you will need to their lawyers and guess what? They got the best and the more expensive ones on their side, so most of the time going against a bank is a losing battle and they know that.

You can not advance to accept his defeat. There is always a sense of fighting for their rights. If there is a violation of the law, there must be a restoration of rights. If banks are not right, then they need to be brought to justice

Correct, but is going to be an uphill battle, at best and impossible at worst especially if you are living in a third world country were there is a lot of corruption going on.

[neochiny]

It's impossible to just close your bank account without giving any reason no lawyers will just represent the bank if they violated your contract with them they could get money into it if they see some bank doing illegal things to their customers. I think you just making story into this , no people will stop pursuing money if its so big that you can buy mercedes with that money inside you account.

In my pinion this seems naive banks once they have your money they make the rules, and if for some reason you don't agree you will need to fight their lawyers and guess what? They got the best and the more expensive ones on their side, so most of the time going against a bank is a losing battle and they know that.

I agree, for the most part. But there's always the option to take your money elsewhere. If we're not satisfied with their service, then we go somewhere else. They do have competition.

As for the case of OP, all I know is that banks CAN close our accounts without providing a reason. Same as we, as clients, can close ours without telling them why. They don't usually do this since money is money. But it happens. The thing is, when they close your account, they cannot take your money. They will refund everything.

[Creepings]

Well, its not that i dont trust banks but some of them really want to earn money. They are robbing some accounts without us knowing.

[X-ray]

Well, its not that i dont trust banks but some of them really want to earn money. They are robbing some accounts without us knowing.

maybe you just breaking the rules?every government have regulation to protect every of their citizens. if you feel getting robbed by the bank or something then you just need to sue them.
but it's the truth that they're sometimes robbing people but not through the savings.they rob people through lending service that having big interests. i say solving problem with bigger problem for those who requesting loan

[el kaka22]

We should never trust system, they care just about themselves. And its western economy to be clear on this, humans are not important, just profit. We can all die today, its not important, as long as they earn billions and billions on our backs.

Actually we still need banks, due to we live in banking system right now and any cryptocurrency can't replace banks yet.
But I just hate 2 of their policies, too much/high fees and % of interest if you borrowing money to banks , you will suffer under your debts like never end.

But I'm not ready to agree that we still need banks. because I'm able to secure my wealth in cryptography format and I'm able to send and receive funds more securely and more quickly than banks will do and more importantly I'm able to transact very cheaply compared to banks fees. So, the need of banks will get fade away over time IMHO.

I think banks are still important for us, not only for depositing and withdrawal only but for so many other purposes , as to me  I pay my children school fee using banks, they do not accept the fee in bitcoin  or from online wallet, I also pay my utility bills using banks so we have to accept the reality that still banks are playing important part in our life.

[xuan87]

We should never trust system, they care just about themselves. And its western economy to be clear on this, humans are not important, just profit. We can all die today, its not important, as long as they earn billions and billions on our backs.

Actually we still need banks, due to we live in banking system right now and any cryptocurrency can't replace banks yet.
But I just hate 2 of their policies, too much/high fees and % of interest if you borrowing money to banks , you will suffer under your debts like never end.

But I'm not ready to agree that we still need banks. because I'm able to secure my wealth in cryptography format and I'm able to send and receive funds more securely and more quickly than banks will do and more importantly I'm able to transact very cheaply compared to banks fees. So, the need of banks will get fade away over time IMHO.

I think banks are still important for us, not only for depositing and withdrawal only but for so many other purposes , as to me  I pay my children school fee using banks, they do not accept the fee in bitcoin  or from online wallet, I also pay my utility bills using banks so we have to accept the reality that still banks are playing important part in our life.

Yes, bank is really important to a country, for the citizen it is used to keep our money, and I don't think a bank will close your account without valid reason, bank is the foundation of the country economic, most of the transaction happen using bank, so i think a country can't become stable without the bank

[Pattart]

The more I trade with banks increasingly make me not trust the banks, let alone to transactions abroad with high costs, after the existence of the bitcoin makes me slowly left the bank.

Lol just because the transaction is slow and expensive I think it's not a good reason to not believe in bitcoin, unless you were deceived by the bank itself or you harmed because of the bank's policies that strange

[tabas]

The more I trade with banks increasingly make me not trust the banks, let alone to transactions abroad with high costs, after the existence of the bitcoin makes me slowly left the bank.

Lol just because the transaction is slow and expensive I think it's not a good reason to not believe in bitcoin, unless you were deceived by the bank itself or you harmed because of the bank's policies that strange

He is talking about the banks itself and not bitcoin. That's why every single transaction or movements you will do within the banks premises they are going to charge you, why? Because that is where they are getting profit, it is not new about banks but for me, I do still trust some banks for they have transparency and have the heart to serve the people.

[NEWGOODOUBLE]

Should I never trust banks? I don't think so. As I notice here in our country, banks are very useful. They have their clients and customers continue using their service everyday. I have no reason to not trust banks. I know they are legit to operate.

Yeah actually banks that were most helpful to the user and the current bitcoin. I'm sure that you get the income bitcoin and then converted to a fiat, you will need the help of the bank to take the money?
the bank is very useful

[Berns]

Should I never trust banks? I don't think so. As I notice here in our country, banks are very useful. They have their clients and customers continue using their service everyday. I have no reason to not trust banks. I know they are legit to operate.

Yeah actually banks that were most helpful to the user and the current bitcoin. I'm sure that you get the income bitcoin and then converted to a fiat, you will need the help of the bank to take the money?
the bank is very useful

Banks play an important role in society. We still can not do without them. Just as we can not live without fiat. I trust banks and keep the money in the accounts

[South Park]

It's impossible to just close your bank account without giving any reason no lawyers will just represent the bank if they violated your contract with them they could get money into it if they see some bank doing illegal things to their customers. I think you just making story into this , no people will stop pursuing money if its so big that you can buy mercedes with that money inside you account.

In my pinion this seems naive banks once they have your money they make the rules, and if for some reason you don't agree you will need to fight their lawyers and guess what? They got the best and the more expensive ones on their side, so most of the time going against a bank is a losing battle and they know that.

I agree, for the most part. But there's always the option to take your money elsewhere. If we're not satisfied with their service, then we go somewhere else. They do have competition.

As for the case of OP, all I know is that banks CAN close our accounts without providing a reason. Same as we, as clients, can close ours without telling them why. They don't usually do this since money is money. But it happens. The thing is, when they close your account, they cannot take your money. They will refund everything.

Most of the time if banks decide to no longer do business with you then they will return the money but in my country if the bank has any reason to think you are in dirty business the bank can freeze your funds, it is unclear what happens with that money, maybe the government keeps it?

[deisik]

It's impossible to just close your bank account without giving any reason no lawyers will just represent the bank if they violated your contract with them they could get money into it if they see some bank doing illegal things to their customers. I think you just making story into this , no people will stop pursuing money if its so big that you can buy mercedes with that money inside you account.

In my pinion this seems naive banks once they have your money they make the rules, and if for some reason you don't agree you will need to fight their lawyers and guess what? They got the best and the more expensive ones on their side, so most of the time going against a bank is a losing battle and they know that.

I agree, for the most part. But there's always the option to take your money elsewhere. If we're not satisfied with their service, then we go somewhere else. They do have competition.

As for the case of OP, all I know is that banks CAN close our accounts without providing a reason. Same as we, as clients, can close ours without telling them why. They don't usually do this since money is money. But it happens. The thing is, when they close your account, they cannot take your money. They will refund everything.

Most of the time if banks decide to no longer do business with you then they will return the money but in my country if the bank has any reason to think you are in dirty business the bank can freeze your funds, it is unclear what happens with that money, maybe the government keeps it?

Unless we are talking about a downright rogue government not much different from a criminal gang, there should be some official decision to expropriate the funds. I guess banks themselves can't do that, and there should be a court ruling for that. In some jurisdictions in special cases a court ruling may not be required, for example, tax agencies can directly withdraw funds from accounts of both individuals and companies...

And then you can try to contest their action in a court, if you feel inclined to, of course