You should never trust banks

[oegarod]

We are probably from one country, because I also had this situation. I do not trust banks now. But I have to keep my national money there. And now I invest only in the cryptocurrency

You do not need to keep your country's fiat currency there, you can always keep them in a stash with padlock.  The hell with banks, they are wicked.  they offer us ony a tiny percent of the earning of our money and yet they have the right to say, we cannot move our money if we do not have the right document.  Or they can freeze or completely steal our money in our bank account anytime they wanted.

They can keep hold or freeze our entire money, but if we have the required documents we can claim it and get it back as everything is functioning under government of the respective county. The same is not possible with bitcoin as it is completely decentralized, even if we hold in some trusted third party site, it has got the highest risk because if he takes everything and runs we cannot question anyone.

[deisik]

We are probably from one country, because I also had this situation. I do not trust banks now. But I have to keep my national money there. And now I invest only in the cryptocurrency

You do not need to keep your country's fiat currency there, you can always keep them in a stash with padlock.  The hell with banks, they are wicked.  they offer us ony a tiny percent of the earning of our money and yet they have the right to say, we cannot move our money if we do not have the right document.  Or they can freeze or completely steal our money in our bank account anytime they wanted.

They can keep hold or freeze our entire money, but if we have the required documents we can claim it and get it back as everything is functioning under government of the respective county. The same is not possible with bitcoin as it is completely decentralized, even if we hold in some trusted third party site, it has got the highest risk because if he takes everything and runs we cannot question anyone

The reality is more harsh than you think

The homespun truth is that nothing prevents banks from openly and directly appropriating your funds if the government tells them to do so. I thought that after the Cyprus haircut no one would have such delusions but people still seem to prefer living in darkness and happy ignorance. There were quite a few such cases throughout history when money got outright stolen by rogue authorities, so come to Bitcoin and don't let them strip you off of your money

[Salazarian]

We are probably from one country, because I also had this situation. I do not trust banks now. But I have to keep my national money there. And now I invest only in the cryptocurrency

You do not need to keep your country's fiat currency there, you can always keep them in a stash with padlock.  The hell with banks, they are wicked.  they offer us ony a tiny percent of the earning of our money and yet they have the right to say, we cannot move our money if we do not have the right document.  Or they can freeze or completely steal our money in our bank account anytime they wanted.

i think banks are the only options to be use for keeping our fiat currency, most of the banks are under government control therefore they are trusted and you can put your money there without any doubt.

[reuschman]

I have a lot sympathy what you faced and that was a very unfriendly way they did it. but not all banks are same types. I have been experienced with a lot of banking transaction but I couldn't find myself any negative things as like you.
That's why I suggest that those banks should be avoided whose are occurring this types of jobs, not all banks .

[Yanisumin]

On of the situations I know why we should never trust banks is that it is full of greedy billionaires hungry for money. They will introduced the good sides of having a bank account but slowly eating your money away. One of its great disadvantage is the collaterals, they will squeeze your money when you can't pay the loan, but if they will declared bankruptcy, they don't have something to give in return. Funny and unfair but it's true.

Yes, I was a victim of this as well. But thank God I was able to build up again my credit rating from various bank. I can't even apply for a credit card because of my past history. Although I have settled my bills long time ago, it was just like 7 years ago I discovered that my name was tagged. So I have to cleaned up everything, my name and reputation. I was thinking of borrowing again, but then have seconds thoughts.

Oww that's a hard one. One of the scariest things that is happening is the ATM bugs where buggers can withdraw your money ( well I don't know how they do that ), I don't know if your money is ensured once it is lost but I think they will provide some investigation and if the investigation doesn't go well then your money is not ensured. I remember a story of the old man who wants to loan in a bank account and the bank staffs is questioning the if the old man have some properties that can be used as a collateral once he can't pay, but when the old man asks the staffs if they have some properties that can be used as a collateral if ever an account holder can't withdraw his money, the staffs are tounge tied because even if your money is ensured we don't have some properties that can serve as a collateral.

[GG_monster]

Completely all of your savings should not be invested in a bank, but avoiding banks in the modern world is silly. There are many reliable and years-tested banks.

[stompix]

On of the situations I know why we should never trust banks is that it is full of greedy billionaires hungry for money. They will introduced the good sides of having a bank account but slowly eating your money away. One of its great disadvantage is the collaterals, they will squeeze your money when you can't pay the loan, but if they will declared bankruptcy, they don't have something to give in return. Funny and unfair but it's true.

Yes, I was a victim of this as well. But thank God I was able to build up again my credit rating from various bank. I can't even apply for a credit card because of my past history. Although I have settled my bills long time ago, it was just like 7 years ago I discovered that my name was tagged. So I have to cleaned up everything, my name and reputation. I was thinking of borrowing again, but then have seconds thoughts.

Oww that's a hard one. One of the scariest things that is happening is the ATM bugs where buggers can withdraw your money ( well I don't know how they do that ), I don't know if your money is ensured once it is lost but I think they will provide some investigation and if the investigation doesn't go well then your money is not ensured. I remember a story of the old man who wants to loan in a bank account and the bank staffs is questioning the if the old man have some properties that can be used as a collateral once he can't pay, but when the old man asks the staffs if they have some properties that can be used as a collateral if ever an account holder can't withdraw his money, the staffs are tounge tied because even if your money is ensured we don't have some properties that can serve as a collateral.

First , there are no atm bugs and there are no buggers that withdraw money.
Get your English terms straight because you really don;t want to know what you've just said.
Just a hint, buggers are more related to anal sex than atms.

Second, your story is bullshit.
All banks have a so called "collateral".
It is called deposit insurance and is mainly hold by the central bank in most countries.

[zedicus]

I dont think that banks will just shut down someones account specially acount with big or even small amount of money into it but if its illegal money then banks has the rights to shut you down,but if its legal and you havent done anything negative then you may file acase against your bank

[deisik]

I dont think that banks will just shut down someones account specially acount with big or even small amount of money into it but if its illegal money then banks has the rights to shut you down,but if its legal and you havent done anything negative then you may file acase against your bank

This is a false thinking

They don't need to shut down or freeze your account completely when they can just come and take your money. But there are not many options available anyway. Avoiding banks entirely is as stupid and dumb as keeping all your monetary wealth in a bank account, at least, if this wealth amounts to something grand. Keeping your wealth as money is a risky business as such, but we are sort of stuck with banks since ordinary people are not investors, they are mostly either spenders or savers

Just a hint, buggers are more related to anal sex than atms.

You seem to be very experienced in such matters

[BossMacko]

I trusted them once, they gave me a credit card but they failed to mention to me that every year i have to pay annual pay even if i am not using my credit card. It made me broke that time so i decided to sell some of my Bitcoins to pay all the balances i have in that credit card so that i'll be able to cut my bank.

[Lieldoryn]

I trusted them once, they gave me a credit card but they failed to mention to me that every year i have to pay annual pay even if i am not using my credit card. It made me broke that time so i decided to sell some of my Bitcoins to pay all the balances i have in that credit card so that i'll be able to cut my bank.

All banks are crooks. When you contract with the Bank, you need to carefully read all that is written in the contract. They love the worst conditions to mask the stars, and links to write down a small hand. Try to never have Affairs with them.

[Ammigo13]

I had no problems with banks, because I carefully read the contract and carry out all the duties on my part. You just need to be more responsible to this.

[dzoi06]

Banks can't close your account without any reason. They can't steal your property just like that. You must have done something against the law or something against the contract you signed in.

[Bakemat]

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!

I think the problem with banks is that it is electronic. Which in meaning means that a person with enough knowledge in banks and hacking can take/manipulate data and change the information on the bank. Which also happened here in our country where a certain bank had a system glitch and changed all the amount on a persons bank account, some had negatives even if they had their money. Some had doubled even tripled a person even had a million in their balance before the day ends. Which is a very problematic way where electronic security is very important.

[aeternus]

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!

Well that is just the way it is, they give you a service and they can decide when to finish that service, but don’t worry thanks to bitcoin the days banks can do this are numbered, even if banks do not disappear they will have to stop treating people like crap if they want to have some business.

[DainSLane]

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!

Maybe you do something that is against their rules there is no way that bank will close your account with no reason. they should send you a notice if their closing your account. you should ask the bank managers first then have them explain the reason. and don't say that we should not trust banks because they don't steal your property they only do that if you don't pay for the loans that you make.

[Bakemat]

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!

Maybe you do something that is against their rules there is no way that bank will close your account with no reason. they should send you a notice if their closing your account. you should ask the bank managers first then have them explain the reason. and don't say that we should not trust banks because they don't steal your property they only do that if you don't pay for the loans that you make.

Correct. I agree with this, even if the problem is caused by a glitch and not of a person or the bank foreclosing it. You would still have the right to protest and dispute this. Banks can't have the authority to just close an account and shut off a customer. They should have notices and explanations especially warnings to the party involved. You are a customer and we should have the right to always ask for questions.

[Faiyz]

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!

Maybe you do something that is against their rules there is no way that bank will close your account with no reason. they should send you a notice if their closing your account. you should ask the bank managers first then have them explain the reason. and don't say that we should not trust banks because they don't steal your property they only do that if you don't pay for the loans that you make.

Correct. I agree with this, even if the problem is caused by a glitch and not of a person or the bank foreclosing it. You would still have the right to protest and dispute this. Banks can't have the authority to just close an account and shut off a customer. They should have notices and explanations especially warnings to the party involved. You are a customer and we should have the right to always ask for questions.

Yap and it is also difficult to have that because in a perspective you are just a small person that is worth risking. Somtimes they would prefer businessmen who invested in there banks rather that just some lowly investor that in there mind its just waste of oppurutnity and they would rather make time for big time dealers. I am not saying all banks but will the issues about banks, it is rare that a lowly member of that bank was helped is some honest ways.

[kpcian]

Every coin has two sides, so both positive and negative side can be seen when you go to transect with Bank, basically bank is the organization where your money is using as their capital, you must pay a huge fee to take a secured and better service from Bank. But I don't have any clue to distrust over any Bank...

[Japinat]

Every coin has two sides, so both positive and negative side can be seen when you go to transect with Bank, basically bank is the organization where your money is using as their capital, you must pay a huge fee to take a secured and better service from Bank. But I don't have any clue to distrust over any Bank...

When you put your money to the bank, you should ensure that you get what you want, you put to ensure the safety of your money and none other because it's not an investment as some people are thinking. And of course, as they secure your money they will also get the benefit from your money as they can use it to lend it to people while not restricting your to withdraw anytime, they are just good in matching their funds.