You should never trust banks

[Seansky]

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.

Here where I live, bitcoin is well known. Despite that fact though, many people use banks to store their money and bitcoin is not seen as a currency but a way to get some load or airtime with discount in our smartphones for texting and calling. It is known that way because of a web wallet and thus it id not used mainly for investment and money storage purposes. Its kinda sad though to see people trusting banks fuy and not putting some money in store in bitcoin. Hope that one day they will use bitcoin to store money too.

[1714952599]

1714952599

[1714952599]

1714952599

[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.

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.

Yes but completely we cannot relay on bitcoin only, bitcoin is not completely supported by the governments yet. How can we directly convert all our paper currency into bitcoin, still it is not completely accept around my area. Right now it is very difficult to trust bitcoin because people are asking for fiat currency only still.

[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.

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.

Yes, this is the other side of the coin, banks could mistrust you but you could also mistrust a particular bank, and no one says anything because you did not open an account with them, right? Well banks have the same right as you to have to refuse them.

[NEWGOODOUBLE]

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.

Yes but completely we cannot relay on bitcoin only, bitcoin is not completely supported by the governments yet. How can we directly convert all our paper currency into bitcoin, still it is not completely accept around my area. Right now it is very difficult to trust bitcoin because people are asking for fiat currency only still.

to rely only on bitcoin will only trouble you. because as we know that bitcoin is not too much to receive. so I think it would be advisable to continue using fiat and banks because it would be helpful

[S_D]

Unless your country is too weak economically, your country laws should provide you a way to get those funds back.
Sorry for your loss though.

So whats the update now, are you still fighting for it?

[BeGoods]

Unless your country is too weak economically, your country laws should provide you a way to get those funds back.
Sorry for your loss though.

So whats the update now, are you still fighting for it?

usually the government would guarantee all customer losses when a bank becomes a scam. but if a poor country might be better off saving the money in your own wallet. because the bank can also be at risk

[sir.humus]

Unless your country is too weak economically, your country laws should provide you a way to get those funds back.
Sorry for your loss though.

So whats the update now, are you still fighting for it?

The financial industry is looked upon with suspicion these days. Some of the scorn is warranted, especially where greed was excessive or innocent homeowners were forced to move out. There is also always the risk that technology fails and bank account information becomes unverifiable.

[dihari]

I am sorry, can you prove your statement in this thread with something scanned or photos? Well I think it is a contrived just to make a good thread about how worst the bank and how good bitcoin wallet to save the money.
Banks is never close account without any reason. Everythings is done by some rules that created couples years ago and you never make bank account before passing an agreements with the banks staff.
Please stop making hoax and lead public opinion to something wrong.

[Xester]

Unless your country is too weak economically, your country laws should provide you a way to get those funds back.
Sorry for your loss though.

So whats the update now, are you still fighting for it?

usually the government would guarantee all customer losses when a bank becomes a scam. but if a poor country might be better off saving the money in your own wallet. because the bank can also be at risk

The statement never trusts banks should only come in when you applied for a loan. When you made a loan they will say that the interest is only with this percentage but you will realize sooner when you started paying that there are many fees that you have to pay. THough not all banks are like this but there are dishonest personnel in banks which does not relay everything to their clients just to get more clients to take a loan so they can get a bonus or a promotion.

Savings on the other hand if placed on the banks will just suffer from surcharges when you make transactions. Instead of earning when the banks use your money to finance their loan release, they will charge you with surcharges even by checking out your balance. Now tell me that banks are fair, that is why If I dont have a huge amount of money I dont place it on banks but rather on cooperatives with bank-like operations. If not on cooperatives then I would prefer to invest it on bitcoins and enjoy the price inflation.

[KuromaYoichi]

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

well, i was answering the op regarding his statement of "My bank closed my account last year for no reason". In my opinion there must be reason as why the bank close xx account, maybe he did shaddy stuff and got found out. Personally i've never heard of any case like mentioned in OP in my country.

[bestluck]

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.

Yes but completely we cannot relay on bitcoin only, bitcoin is not completely supported by the governments yet. How can we directly convert all our paper currency into bitcoin, still it is not completely accept around my area. Right now it is very difficult to trust bitcoin because people are asking for fiat currency only still.

But there are people who have better knowledge about bitcoin and who know well how to mange their money in bitcoin often spend most of their money in bitcoin and they do not face any problem in that because they know the good time and bad time and they can take action in the time when the price come down and some of them do not feel any lose as they know in long term the price of bitcoin increases.

[achow102]

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.

Yes but completely we cannot relay on bitcoin only, bitcoin is not completely supported by the governments yet. How can we directly convert all our paper currency into bitcoin, still it is not completely accept around my area. Right now it is very difficult to trust bitcoin because people are asking for fiat currency only still.

But there are people who have better knowledge about bitcoin and who know well how to mange their money in bitcoin often spend most of their money in bitcoin and they do not face any problem in that because they know the good time and bad time and they can take action in the time when the price come down and some of them do not feel any lose as they know in long term the price of bitcoin increases.

such people is becoming more and more. Bitcoin is becoming more stable, which means that it is already possible to predict fluctuations.
I'm sorry that the banking system does not want to cooperate actively with Bitcoin.
I would trust the banks even more if it was

[Pab]

Agree,never trust banks thay only want to sucks money from his customers,thay are only interested in making profit.If you have bank account every few days you need to login to accounts and carefully check transactions
It is possible for them to accept bitcoin to lower transaction costs,but thay will never do it

[Erza]

Agree,never trust banks thay only want to sucks money from his customers,thay are only interested in making profit.If you have bank account every few days you need to login to accounts and carefully check transactions
It is possible for them to accept bitcoin to lower transaction costs,but thay will never do it

All bank always act the same thing though because they need money to get more money for themselves and without money income they can't pay you some interest. So some banks already apply this bitcoin? I never know that, or do you mean they make an exchange to their own fiat before they make the transaction?

[Ipwich]

Agree,never trust banks thay only want to sucks money from his customers,thay are only interested in making profit.If you have bank account every few days you need to login to accounts and carefully check transactions
It is possible for them to accept bitcoin to lower transaction costs,but thay will never do it

All bank always act the same thing though because they need money to get more money for themselves and without money income they can't pay you some interest. So some banks already apply this bitcoin? I never know that, or do you mean they make an exchange to their own fiat before they make the transaction?

Banks has a lot of source of funds, the depositors are their main bread and butter because they will use the money of the depositors to lend to the borrowers for an interest and many other income generating ventures. But, the moment there is a comprehensive law about the acceptance of bitcoin as deposits, I guess that would help them increase their income as well.

[Teraboy]

Unless your country is too weak economically, your country laws should provide you a way to get those funds back.
Sorry for your loss though.

So whats the update now, are you still fighting for it?

usually the government would guarantee all customer losses when a bank becomes a scam. but if a poor country might be better off saving the money in your own wallet. because the bank can also be at risk

I'd insurance for myself but it looks too difficult for claiming my insurance, mostly the insurance firm in here is a branch of the bank companies. but about they money storage i didn't have a problem before. Goverment always have a institution to controlling the bank. to securing his civilians.

[Doms]

Agree,never trust banks thay only want to sucks money from his customers,thay are only interested in making profit.If you have bank account every few days you need to login to accounts and carefully check transactions
It is possible for them to accept bitcoin to lower transaction costs,but thay will never do it

Not all banks are what you think they are. I, for one, still trust my bank because of the benefits I get from them, especially their online banking facilities. I know that banks operate because they want profits, but what company goes into business that does not go after profits? I also have a trust account with my bank that earns me some passive income so that is another thing that I like with these institutions.

[choppork]

Agree,never trust banks thay only want to sucks money from his customers,thay are only interested in making profit.If you have bank account every few days you need to login to accounts and carefully check transactions
It is possible for them to accept bitcoin to lower transaction costs,but thay will never do it

Not all banks are what you think they are. I, for one, still trust my bank because of the benefits I get from them, especially their online banking facilities. I know that banks operate because they want profits, but what company goes into business that does not go after profits? I also have a trust account with my bank that earns me some passive income so that is another thing that I like with these institutions.

Even if they didn't want any profit, or if they make their company a total non-profit one, they would still need payment from you because they also have to pay for their expenses like electricity and the salary of their workers. Otherwise, their company would shut down just after a couple of months unless their company is sponsored by the electricity company and at the same time the workers are working for free. That's too good to be true so always expect huge fees from banks.

[NEWGOODOUBLE]

Unless your country is too weak economically, your country laws should provide you a way to get those funds back.
Sorry for your loss though.

So whats the update now, are you still fighting for it?

usually the government would guarantee all customer losses when a bank becomes a scam. but if a poor country might be better off saving the money in your own wallet. because the bank can also be at risk

I'd insurance for myself but it looks too difficult for claiming my insurance, mostly the insurance firm in here is a branch of the bank companies. but about they money storage i didn't have a problem before. Goverment always have a institution to controlling the bank. to securing his civilians.

of course, the government controls all existing bank. before the making of bank owned by a third party, the third party would have to ask permission and consent by the government. so the actual bank under the control of the government. so it can be said safely

[Harlot]

Agree,never trust banks thay only want to sucks money from his customers,thay are only interested in making profit.If you have bank account every few days you need to login to accounts and carefully check transactions
It is possible for them to accept bitcoin to lower transaction costs,but thay will never do it

All bank always act the same thing though because they need money to get more money for themselves and without money income they can't pay you some interest. So some banks already apply this bitcoin? I never know that, or do you mean they make an exchange to their own fiat before they make the transaction?

Well the purpose of banks is not to gain money from it anyways. A banks purpose is to save your money, now if I am you who is also cannot afford a safe, guard dogs, security guards, cctvs then opening a bank account is a cheaper alternative for saving your money from any kind of robbery it is common sense people, even in the year 2010 we all know that banks are not good to profit anymore.