You should never trust banks

[andrei56]

That is not right. All banks are obligated to run your account as long as you have money in it or just being active with it. What they did base on your story is they have taken away your money which is basically stealing it. Even if you violate something with your agreement in the bank they are not allowed to keep that money, even if it is illegal they must surrender the possession to the government.

Not really banks are private institutions and they have the right to refuse you if they think you bring trouble in some way or form, the banks may not like the source of your money, even if it is legal, the way you use your account or if the banks have bad experiences with you then they may decide to stop providing their services.

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[andyblocks]

I think we should be wary of any centralized institutions, especially political and financial institutions, because once they have the possibility to interfere with your money, they will certainly use that in their favor.

[hawkins]

Well, I guess I would still believe in the bank in my country of residence. Well, it is the only one of the best places to save money in my country. besides, if you're saving in large quantities, there would be a profit-sharing system might be beneficial. Well, I believe the bank, as I believe in bitcoin.

[pokerplayer]

Banks want only to rob us like our govrement and mafia that everybody know and that we can stop but i think that nobody even care anymore about that so i am really worried about that.

[darkangel11]

Banks want only to rob us like our govrement and mafia that everybody know and that we can stop but i think that nobody even care anymore about that so i am really worried about that.

If you have a bank account (and most of us do) they are already robbing you by making you pay for having an account, storing money on it, owning a card and many other operations.
They are also selling personal information, blocking accounts and freezing money and of course profiting from loans. A client that pays his debts is bad for business, so they will do what they can to make you either endebt yourself for life or go belly up and lose collateral.

[President79]

Banks want only to rob us like our govrement and mafia that everybody know and that we can stop but i think that nobody even care anymore about that so i am really worried about that.

Yeah right, I don't like to work together with the bank, all the things there are to do the bank ended in agony. If I keep the money in the bank so I never felt the benefit, but if there is a debt then as dead, since they do all the way up to the violence.

[Bitcoin0916]

Banks want only to rob us like our govrement and mafia that everybody know and that we can stop but i think that nobody even care anymore about that so i am really worried about that.

If you have a bank account (and most of us do) they are already robbing you by making you pay for having an account, storing money on it, owning a card and many other operations.
They are also selling personal information, blocking accounts and freezing money and of course profiting from loans. A client that pays his debts is bad for business, so they will do what they can to make you either endebt yourself for life or go belly up and lose collateral.

If you have problem with bank, the best way is close your bank account, as we know that a lot of the costs if we have accounts in bank, send money, monthly fees, ATM charges, etc. But that's the thing that makes us very dependent with banks because the banks supported by the Government, currently all transactions are still dependent with the bank so that I can not close your account.

[sportis]

Well, I guess I would still believe in the bank in my country of residence. Well, it is the only one of the best places to save money in my country. besides, if you're saving in large quantities, there would be a profit-sharing system might be beneficial. Well, I believe the bank, as I believe in bitcoin.

I have a completely different view even though I have my money in a bank account like the most of you. Why? Because there is not an alternative one. And I don't trust them because they can do anything they want with my money without asking me or give me the choice to withdraw if i don't like their decisions. As an example they can impose capital controls like as in Russia, India, Argentina, Iceland and Greece. If these measures are not enough they can steal your savings and they can apply 'haircut'  like as in Cyprus. So, does anyone have a good reason why to trust any bank in the world? 

[Fatanut]

Well, I guess I would still believe in the bank in my country of residence. Well, it is the only one of the best places to save money in my country. besides, if you're saving in large quantities, there would be a profit-sharing system might be beneficial. Well, I believe the bank, as I believe in bitcoin.

I have a completely different view even though I have my money in a bank account like the most of you. Why? Because there is not an alternative one. And I don't trust them because they can do anything they want with my money without asking me or give me the choice to withdraw if i don't like their decisions. As an example they can impose capital controls like as in Russia, India, Argentina, Iceland and Greece. If these measures are not enough they can steal your savings and they can apply 'haircut'  like as in Cyprus. So, does anyone have a good reason why to trust any bank in the world? 

You have to understand the fact that banks have to pay their employees and their huge expenses at the end of the day. They're not privileged to not pay anything at all. Banks invest your money in some businesses by lending your money to other people. They are going to get a profit from that and that's how it basically works. They just don't let the 100% of the total money that's in them to sit 24/7. They're investing some of them. If everyone's going to withdraw their money from the banks, a huge percentage of people wouldn't be able to get their money.

If you don't like what they're doing, feel free to withdraw your money. You can withdraw it any time you like, but I think your money is actually safe even with what they're doing because they know exactly what they're doing.

[sunsilk]

Such a bad news but we  must remember this is what banks do, putting your money in is very easy getting the money out is incredibly difficult to do, so only keep as much money you need in your bank account and the rest needs to be invested elsewhere, like in bitcoin.

I don't think that getting the money or withdrawing your money in the banks are difficult because I don't have any problems with them.

I still trust banks no matter what and they are the one who is responsible for my investments in my fiat.

And I do trust both of them, bitcoin and bank.

Yes, although there are instances where in bank has error transaction but before the end of the day they see to it that transactions made within the day was correct. So, the bank really gain my trust. Also with bitcoin because it is not hard to hack and transfer money. The moment I join the bank and bitcoin my trust is already with them.

It just depends on the banks that we are using because I talked to some depositors and they are experiencing bad things with their bank.

But luckily we are into good banks where there are good staffs and managers so I really do trust my bank.

Though I haven't availed their loan products, I'm only using them for saving.

[Fireblade]

Banks want only to rob us like our govrement and mafia that everybody know and that we can stop but i think that nobody even care anymore about that so i am really worried about that.

If you have a bank account (and most of us do) they are already robbing you by making you pay for having an account, storing money on it, owning a card and many other operations.
They are also selling personal information, blocking accounts and freezing money and of course profiting from loans. A client that pays his debts is bad for business, so they will do what they can to make you either endebt yourself for life or go belly up and lose collateral.

If you have problem with bank, the best way is close your bank account, as we know that a lot of the costs if we have accounts in bank, send money, monthly fees, ATM charges, etc. But that's the thing that makes us very dependent with banks because the banks supported by the Government, currently all transactions are still dependent with the bank so that I can not close your account.

bank still play very important role in our life. we mostly depend on banks not only for depositing and withdrawals and transactions of money, in my country we also pay utility bills through banks. all the admissions in school, colleges and universities the admission and free submission is through banks, even monthly fee is also paid through bank therefore currently we cannot ignore banks.

[mkmdoc]

Banks want only to rob us like our govrement and mafia that everybody know and that we can stop but i think that nobody even care anymore about that so i am really worried about that.

But for us there is no other way to save money or to receive salary is through banks. We have to obey their rules and regulation because the only source we transfer money, we can save money, we can do purchases for our daily needs. Even though they are charging high we have to believe them.

[GregH37]

Banks want only to rob us like our govrement and mafia that everybody know and that we can stop but i think that nobody even care anymore about that so i am really worried about that.

But for us there is no other way to save money or to receive salary is through banks. We have to obey their rules and regulation because the only source we transfer money, we can save money, we can do purchases for our daily needs. Even though they are charging high we have to believe them.

But now we have bitcoin. and everyone who is aware about bitcoin, its features and safetey. they prefer to save their money in bitcoin. instead of banks. you can spend bitcoin also as a real money. it is true that some time you may need to exchange bitcoins to fiat. but for saving purposes we are not depending on banks anymore.

[megynacuna]

I think we should be wary of any centralized institutions, especially political and financial institutions, because once they have the possibility to interfere with your money, they will certainly use that in their favor.

Exactly, the involvement of banks defeats the purpose of decentralization and in order to avoid government interference in our finances we need to avoid the banks completely so that they don't create any undue advantage in the favor.

[choppork]

Banks want only to rob us like our govrement and mafia that everybody know and that we can stop but i think that nobody even care anymore about that so i am really worried about that.

But for us there is no other way to save money or to receive salary is through banks. We have to obey their rules and regulation because the only source we transfer money, we can save money, we can do purchases for our daily needs. Even though they are charging high we have to believe them.

But now we have bitcoin. and everyone who is aware about bitcoin, its features and safetey. they prefer to save their money in bitcoin. instead of banks. you can spend bitcoin also as a real money. it is true that some time you may need to exchange bitcoins to fiat. but for saving purposes we are not depending on banks anymore.

First of all, where? There's not that much around, not to mention that if there's any, it would probably only be available in the USA and other first world countries. I think that "some time" is wrong. We have to convert our bitcoins literally every single time we want to use them in real life. The only things that we can buy using bitcoins mostly are bitcoin or internet related stuffs like physical coins and digital accounts, etc. In the real life, I haven't found any physical store that accepts bitcoin. If I'm going to ask the cashier for it, they might not even heard about it. We're just so far from spending bitcoins like real money.

[KuromaYoichi]

I don't think bank will close your account without reason, for example in my country, you have to have a minimum balance in your bank account. If your balance are below the min requirement for 3 month, then the Bank can close your account but in your case this is not the reason as you said your money can buy mercedes. Maybe you did something that violate the bank regulations or the law.

[rivoke]

Depend on what bank do you save. If the bank still unknown and brand new, then you shouldn't save there since they may bankrupt ( as my experienced said that even long life bank still can bankrupt )

I don't think bank will close your account without reason, for example in my country, you have to have a minimum balance in your bank account. If your balance are below the min requirement for 3 month, ....

So what do you mean without a reason ?

Bank shut down your account because " you have to have a minimum balance in your bank account. If your balance are below the min requirement for 3 month, " as you mentioned

[Dr.Osh]

That is not right. All banks are obligated to run your account as long as you have money in it or just being active with it. What they did base on your story is they have taken away your money which is basically stealing it. Even if you violate something with your agreement in the bank they are not allowed to keep that money, even if it is illegal they must surrender the possession to the government.

Not really banks are private institutions and they have the right to refuse you if they think you bring trouble in some way or form, the banks may not like the source of your money, even if it is legal, the way you use your account or if the banks have bad experiences with you then they may decide to stop providing their services.

I think there are some banks that make users get a bad experience. so, they do not want to use a bank, and perhaps they think that bitcoin is better than it was. Well, banks are sometimes annoying, but I guess, it was the safest place to save money, with high security. Besides, you need not worry, because everything has been paid by the bank, if there is something that does not want the money you save.

[darkangel11]

Banks want only to rob us like our govrement and mafia that everybody know and that we can stop but i think that nobody even care anymore about that so i am really worried about that.

If you have a bank account (and most of us do) they are already robbing you by making you pay for having an account, storing money on it, owning a card and many other operations.
They are also selling personal information, blocking accounts and freezing money and of course profiting from loans. A client that pays his debts is bad for business, so they will do what they can to make you either endebt yourself for life or go belly up and lose collateral.

If you have problem with bank, the best way is close your bank account, as we know that a lot of the costs if we have accounts in bank, send money, monthly fees, ATM charges, etc. But that's the thing that makes us very dependent with banks because the banks supported by the Government, currently all transactions are still dependent with the bank so that I can not close your account.

bank still play very important role in our life. we mostly depend on banks not only for depositing and withdrawals and transactions of money, in my country we also pay utility bills through banks. all the admissions in school, colleges and universities the admission and free submission is through banks, even monthly fee is also paid through bank therefore currently we cannot ignore banks.

Don't they accept cash? I actually never had any problems with paying cash and actually found stores that had no card terminal, so I was forced to run and look for an ATM.
Cash is still the most accepted form of payment, so I find that weird that someone would force people to use a bank transfer.

[dmamigo]

That is not right. All banks are obligated to run your account as long as you have money in it or just being active with it. What they did base on your story is they have taken away your money which is basically stealing it. Even if you violate something with your agreement in the bank they are not allowed to keep that money, even if it is illegal they must surrender the possession to the government.

Not really banks are private institutions and they have the right to refuse you if they think you bring trouble in some way or form, the banks may not like the source of your money, even if it is legal, the way you use your account or if the banks have bad experiences with you then they may decide to stop providing their services.

I think there are some banks that make users get a bad experience. so, they do not want to use a bank, and perhaps they think that bitcoin is better than it was. Well, banks are sometimes annoying, but I guess, it was the safest place to save money, with high security. Besides, you need not worry, because everything has been paid by the bank, if there is something that does not want the money you save.

Yes mostly bad experience is the cause of distrust upon banks, But distrusting is of no use. Bitcoin is not so popular in my region so had to rely on Banks.
It is safest place to save money, but not good for growing your money. The functions of the two seems quite different to me at the moment.