You should never trust banks

[grermezter]

I don't and will never trust banks one bit, at first when you deposit money at a bank you eventually get a yearly interest but now they are charging you for using our own money for their business which is outrageous.

[richsoon]

I don't and will never trust banks one bit, at first when you deposit money at a bank you eventually get a yearly interest but now they are charging you for using our own money for their business which is outrageous.

Charging for using your own money? Negative interest? monthly fees? What are you referring to.

In general banks offer a great service in merging the needs of savers and borrowers by taking deposits and using those deposits to provide loans to individuals and businesses.

[Rinder]

Banks are great when you need some extra money to buy a house or a house, but the only thing is that you will end pay over 30-80% the money you pick. Their service is something you wont find anywhere else, the % they charge is due to those people who ask for the money and dont repay, soo banks need to cover the loss, since the money belongs to the costumers.

[LeoEspansq]

Cannot completely trust banks, but what they have provided is simply extraordinary. Without a banking system we could have never got such a money managing accessibility. Though they levy unwanted charges they are the primary service provider to all those users who now say banks are not trustworthy.

Now it's hard to trust someone, any system can collapse. But if you sit and are afraid of investing somewhere, you can lose everything and remain a beggar.

You can trust bank up to a certain limit only, I treat bank to safely keep my money but it was never treated to me as investment, I have my investment in crypto and some real life business operated by our family but I need bank to fully secure my money or the proceeds from my business. Banks will not do anything illegal otherwise they will lose their business, they can only do it when they have a conspiracy against the government who regulates them.

Yes, banks are very helpful in business development and try to make the best possible cooperation with their customers.

Agreed, the bank is a very good place to keep our money and it belongs to the government, the government certainly will not let it do things that violate the law and affect the people of their country. However we should only trust the bank to a certain degree because maybe the bank belongs to the government but does not mean the government can know everything the bank does, for example, bankers can still steal our money and escape. The worst situations can happen, so we can not fully trust the bank

We can not fully trust banks, but without them it is difficult to develop a business. Although if bitcoin spreads, then it will be possible to promote business without banks.

[Hydrogen]

Reason #1823795 not to trust banks.



German GDP: $3.9 trillion
Eurozone GDP: $13.2 trillion
Deutsch Bank: $64 trillion (Derivatives Exposure)

When banks artificially inflate their derivatives gambling larger than the size of the GDP economies they represent, that is a recipe for disaster.

US banks are even worse with more than $231 trillion in derivatives.  

[Mometaskers]

Banks there in the US seem to misbehave a lot, that's the impression I get from the news. Banks in my country sometimes have poor customer service (my bank for example, being the largest  one, have the longest line and longest waiting time on the phone) but I rarely hear news like this.

I've also never heard our government bail out any bank. I do remember a bank closed (can't remember  the name and that's the only bank I ever heard to have closed). I don't remember any talks of any sort of bailout. Government insures up to around $20,000 I don't think most people here have that much stashed in their accounts. Heck, I only have around $50 and just used to account the get a credit card.   

[Jewell]

I don't and will never trust banks one bit, at first when you deposit money at a bank you eventually get a yearly interest but now they are charging you for using our own money for their business which is outrageous.

i do not think that there is anything wrong with banks. banks are serving the people for a long long time and they are working under the supervision of the government and therefore we can do trust on banks. in fact banks plays a very important role in economic system of a country and therefore we cannot ignore the importance of banks in our society.

[ImHash]

US government issues sanctions on Iran even after the agreement was reached, but when it comes to releasing their frozen assets they instead sell their airplanes to Iran, totally legit and totally reasonable
Then China devalues their own currency to profit from USD and provides more than 800M cheap work force to the entire world but US is taking the hit and losing in grand scale, karma is a bi*ch.
In my country banks are not taking their clients money but the treasury's money they hit the main jack pot and start giving zero interest loans of millions of dollars and 99% of all times they give loan with no return at all

Even with bitcoin we have in one side BU trying to maximize their profit per block and blocking the development and other side has their hands tight rendering them unable to proceed with scaling.
This world is so fu**ed up and we just passing days and weeks totally indifferent about the situation.

[Russlenat]

for me I trust banks that is a government own banks because those bank is stable.
I only never trust bank that is on a private bank or a rural banks because we don't know when they gone off.

[EdenHazard]

for me I trust banks that is a government own banks because those bank is stable.
I only never trust bank that is on a private bank or a rural banks because we don't know when they gone off.

besides of that , banks too much rob our money through the fees and some unclear rules causing your money just gone suspende , especially when talking a lot of money , they will ask you a lot of question which of course make everyboody annoyed.

the financial model that bitcoin introduced far more better if government can really open their minds for the better future.

[Przemax]

Not trusting banks on a massive scale will show why you should never trust the banks as the OP says. Its a self fulfiling prophecy. To save themselves from bad scenarios they need to abolish the cash so that the surprlous of money they can sieze to save them is in their full control.

The world is full of the ponzi schemes. Its all just a matter of a scale. The banks are ponzi that are a way more dangerous, less managable, and devastating to the world than the btc is. Actualy its impossible not to have ponzi schemes in the world of cheap credits that is backed by nothing, and in the world of usury that needs the money that does not exist yet.

[Vika0170]

I have not trusted banks for a long time. I have problems with banks all the time. They freeze my money wrongly, then they take large commissions. When I found out about bitcoin, I keep all my savings only in the crypto currency. Maybe it's dangerous, but I do not want to trust this to banks

[White Christmas]

I think you did something against the law. They wont close your bank account for reason. You should contact the bank managers personaly to know the reason. We cant be vote to your side because we did not see the bank's side yet. Also the government also has a power to access or worst close your bank accounts. But its impossible they close it for no reason.

Exactly, bank will never may an action against you are following their rules or law. Maybe they close your account because of a valid reason. Try to contact them and talk about the problem. Can you give us reason why did you say that?

[gabmen]

I have not trusted banks for a long time. I have problems with banks all the time. They freeze my money wrongly, then they take large commissions. When I found out about bitcoin, I keep all my savings only in the crypto currency. Maybe it's dangerous, but I do not want to trust this to banks

well there a lot of banks that are trust worthy and you may have just selected the wrong banks to put your money in. though the good thing with crypto is that the money you keep is moving fast compared to leaving it stagnant in a bank.

[abel1337]

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. 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 helped the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!

This is why we all support bitcoin.

I don`t trust banks, but unfortunately they are too powerful and sometimes you don`t have choice and

you need their service.

Bitcoin will change all this.

I think the bank who closed the account has a valid reason why they closed the account , I agree that banks are very powerful But if they break the law they can possibly put it in the jail. I have a bank account before but I personally closed it because I choose to invest all of my money in bitcoin.

[micher143]

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. 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 helped the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!

why your bank closed your account for no reason? because i know that the bank will closed someone account if the account is on the limit for at least 3 month and then they will send a letter that contain we should give attention for our account and if we are not respond about this, then the bank will closed our account. for now, i still believe my bank because i have 3 account in different bank and they are work properly for my saving money and although the fee for the monthly is high, but i am fine with that.

Exactly, bank will not close your account without any reason. Your money in bank is secure you just need to follow their rules and law. and You dont have choice because you need their service to keep your high amount of money.

[kpcian]

At first, I would like to show respect of your decision but I don't agree with you about whole over the banking system. Some banks can be good and some can be worthless.
In my opinion, most of the banks are playing good role for running an economy. I can't imagine our daily life without banking system.

[SinLinJim]

At first, I would like to show respect of your decision but I don't agree with you about whole over the banking system. Some banks can be good and some can be worthless.
In my opinion, most of the banks are playing good role for running an economy. I can't imagine our daily life without banking system.

In general, banks are not such a terrible institution, because people turn to them for their help, and in most cases people do not withstand the conditions and because of this

[Finestream]

At first, I would like to show respect of your decision but I don't agree with you about whole over the banking system. Some banks can be good and some can be worthless.
In my opinion, most of the banks are playing good role for running an economy. I can't imagine our daily life without banking system.

In general, banks are not such a terrible institution, because people turn to them for their help, and in most cases people do not withstand the conditions and because of this

Bank are not a charitable institution, how can they help us financially, they are in the business and they will not give money to stay in the business, instead they earn from us but I agree they are not a bad institution. They will not last that long if they are a bad institution, they can help us in a way that they can lend us money if we have the capability to pay.

[ASHLIUSZ]

At first, I would like to show respect of your decision but I don't agree with you about whole over the banking system. Some banks can be good and some can be worthless.
In my opinion, most of the banks are playing good role for running an economy. I can't imagine our daily life without banking system.

In general, banks are not such a terrible institution, because people turn to them for their help, and in most cases people do not withstand the conditions and because of this

Bank are not a charitable institution, how can they help us financially, they are in the business and they will not give money to stay in the business, instead they earn from us but I agree they are not a bad institution. They will not last that long if they are a bad institution, they can help us in a way that they can lend us money if we have the capability to pay.

Banks does good to the users, because if banks were not their people would have suffered a lot for making investment and on other emergency requirement. The bad thing that most banks do is the unwanted charges that they take away without any prior information in the name of service charge. Now if bitcoin and banks gets tied up the systematic usage of banks can be seen better.