You should never trust banks

[Finestream]

If something like this happened in my country the bank would have to pay you more than the amount they seized.Well it depends upon which country it is and what kind of bank it is. But its so sad to hear this. All your hard earned money gone maybe thats the worse thing that I heard in the whole day.
Is there no scope of that money coming back ?
I wish you get all your money back its not easy to save.

Yes,  each country have their own bank regulators. We still need bank, although bank is not perfect for storing money.  Bank is such as another business that looking for profit.  Bank use their investors money for lending or anything else.  The peak of the banking crisis in 2008-2009, over a dozens banks failed with asset of over $5 billion, in terms of asset size the collapse of First NBC bank is one of the biggest failures at that time.  First NBC bank experienced a combitaion of bad timming and aggresive lending.  Save money in form of bitcoin in hardware wallet is the best way to save money.

Yeah bank is not perfect but we don't have choices. No bank = no income in real life .

I don't think so, bank does not really give us income but it will only cater our savings if we want to safeguard our assets.
Banks do protect your money but not your information as the more you are getting bigger deposits the risk is bigger that you might be vulnerable to criminal people, the reason we are shifting into decentralized is because it's more safer and all information are only known to us.

[Pumapipa]

I will disagree on you regarding this one. Banks has its own security features and is governed by law. I have a bank account here in the Philippines, and they closed it because the account was deemed dormant. But get this, before they even closed it, the bank have sent a letter explaining the current condition of my account. Since I did not made any steps to save my account, they have closed it instead.
I think you should get back to your bank and request for a letter of explanation.

[Sled]

I will disagree on you regarding this one. Banks has its own security features and is governed by law. I have a bank account here in the Philippines, and they closed it because the account was deemed dormant. But get this, before they even closed it, the bank have sent a letter explaining the current condition of my account. Since I did not made any steps to save my account, they have closed it instead.
I think you should get back to your bank and request for a letter of explanation.

I agree to that. Every banks needs to provide explanation before doing any kind of action to their customers account. If you want to make your bank account safe then you need to maintain its good history and always obey the rules of the banks wherever you live so you will not have any issue in terms of getting a closed account.

[Latviand]

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!

Its not that I don't believe you my friend. But I think that banks in essence are very important to a country, a company or in an institution. We cannot just let it die. And yes they might be shady and goves out few or minimal interests but banks are important and we have as consumers push our right that they should serve us better

[Pattart]

yes, you definitely never trust the bank. i have a lots of experience in bank, that may balance will gone and have a illegal transaction. then i go to the nearest bank then ask and complain. then the bank said he have a investigation about this matter. until a couple of months will passed nothing will happen and my money was totally gone.

Based on my experience on bank there are some transaction that the employee will secretly do because of their illegal transactions.and also what if the bank will get into bankcruptcy our money maybe gone.

You right there are a lot of chase like that. Put money in bank is mean that we let somepeople to use our money. Use our money for investment is better than only save it.

I think the worst possibility of risk in using a bank is a bank into a bankruptcy. see there are banks that are owned by individuals or certain companies that anytime can be a bankrupt or a scam. I think there are many such cases happening, for example in my country. a foreign-owned bank have owner and the owner carrying a run a lot of funds owned by customers and customers bear the loss? that's why I do not really like banks

[Theb]

yes, you definitely never trust the bank. i have a lots of experience in bank, that may balance will gone and have a illegal transaction. then i go to the nearest bank then ask and complain. then the bank said he have a investigation about this matter. until a couple of months will passed nothing will happen and my money was totally gone.

Based on my experience on bank there are some transaction that the employee will secretly do because of their illegal transactions.and also what if the bank will get into bankcruptcy our money maybe gone.

You right there are a lot of chase like that. Put money in bank is mean that we let somepeople to use our money. Use our money for investment is better than only save it.

I think the worst possibility of risk in using a bank is a bank into a bankruptcy. see there are banks that are owned by individuals or certain companies that anytime can be a bankrupt or a scam. I think there are many such cases happening, for example in my country. a foreign-owned bank have owner and the owner carrying a run a lot of funds owned by customers and customers bear the loss? that's why I do not really like banks

People here talking about banks as the most evil business type well I need to clarify some things and point out many things about how banks are useful and beneficial to us.
1.The problems you are stating in banks are just common clerical and system errors.
2.Banks are never a "scam" as long as you deposit your money in a reputable one you won't have a problem about it.
3. Even though you aren't actually earning anything from a bank, it is one of the cheapest ways in order to keep your money safe away from danger.
One way or another we will be using the services of banks as they are a common necessity for us there is no doubt about that.

[badungs]

are you ever mame mkstake on bank? no clear reason that come to you so we never know what matter.

[noninum]

I still trust bank because still need government and money. Bank is the financial agent of government because participated in circulating issued money. It's just that i don't rely on banks to save money has i earned.

[naidray]

yes, you definitely never trust the bank. i have a lots of experience in bank, that may balance will gone and have a illegal transaction. then i go to the nearest bank then ask and complain. then the bank said he have a investigation about this matter. until a couple of months will passed nothing will happen and my money was totally gone.

Based on my experience on bank there are some transaction that the employee will secretly do because of their illegal transactions.and also what if the bank will get into bankcruptcy our money maybe gone.

Exactly, there are so many cases that may warrant a bank closing down an account not just to unnecessarily or for no reason do so.
There has been cases of dormant accounts which can still be reopened or going against the law or not following some government rules regarding something necessary for every citizens to do.
As much as I dont like banks I do not agree with the OP for banks to just close your account for no reason at all.

[deisik]

People here talking about banks as the most evil business type well I need to clarify some things and point out many things about how banks are useful and beneficial to us.
1.The problems you are stating in banks are just common clerical and system errors.
2.Banks are never a "scam" as long as you deposit your money in a reputable one you won't have a problem about it.
3. Even though you aren't actually earning anything from a bank, it is one of the cheapest ways in order to keep your money safe away from danger.
One way or another we will be using the services of banks as they are a common necessity for us there is no doubt about that.

I don't think that (all) banks are evil

If anything, they are a necessary evil, without which the current system couldn't function. That said, I don't think that when you put your wealth in a trusted bank your money is safe from danger (even if the funds in your bank account are fully insured). Your wealth thus saved will be constantly eaten away by inflation, so it is just a flat-out wrong way of saving it. If we were to compare physical gold with a bank deposit (for the purpose of long term saving), I would take gold any time

[mkhadazz]

I need to trust bank. Because for me, it's easier to borrow money to bank than a friend. I can open a shop by applying credit to bank, so my family's economy can improve.

[Andre#]

I still trust bank because still need government and money. Bank is the financial agent of government because participated in circulating issued money. It's just that i don't rely on banks to save money has i earned.

National Banks still good, but almost my capital does not keep in banks, because I think it not better than Gold or Real Estate now.
While goods thing increase every year, but the profit I can earn from banks always decrease, it makes feel disappointed.

[justspare]

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 have never really seen a situation where banks will shut down your account unless an enforcement agency must have given the order if you have participated in a fraudulent activity or something similar. You could have just taken it up cause that is a total infringement on someone's right and funds. No bank is ever allowed to do that. I don't know which country you are from, but I guess any country's policy should protect human's right.

[sana54210]

Give us more information about the closing of your bank account, I guess they will not do that without any valid reasons though I don't have bank account yet but it's really normal if you do something illegally and don't respond to them about that issue   
Don't just post a thread here that you want to tell and convince us that having account bank account now is not good or investing in the bank are in a big risk this time.

Just like investments , trusting you funds in banks is also risky specially when you are new in the world of bank. The thing to do for you to make sure that your bank will not soon ran out you must also consider on being a part of the bank system where you also need to have a funds on the bank so that you could help it on investments, and shares.

Sure! It is kind of risky too in a way if the institution you are banking with is not reliable or trusted and can be ordered by the Central Bank to fold up but not at the jeopardy of people's fund. I have seen so many people trying to hustle out their money from banks anyway just because they were going to fold up and it was not good. banks in operation however cannot just scoop you off your cash just like that. I will sue their arises.

[Kasabus]

Give us more information about the closing of your bank account, I guess they will not do that without any valid reasons though I don't have bank account yet but it's really normal if you do something illegally and don't respond to them about that issue   
Don't just post a thread here that you want to tell and convince us that having account bank account now is not good or investing in the bank are in a big risk this time.

Just like investments , trusting you funds in banks is also risky specially when you are new in the world of bank. The thing to do for you to make sure that your bank will not soon ran out you must also consider on being a part of the bank system where you also need to have a funds on the bank so that you could help it on investments, and shares.

Sure! It is kind of risky too in a way if the institution you are banking with is not reliable or trusted and can be ordered by the Central Bank to fold up but not at the jeopardy of people's fund. I have seen so many people trying to hustle out their money from banks anyway just because they were going to fold up and it was not good. banks in operation however cannot just scoop you off your cash just like that. I will sue their arises.

Banks cannot give a good return for your investment unless you are a major stakeholder who's part of them.
We only put our money and we entrust it with them, it's called deposits and the income that it will general is not enough with the
value of your money under inflation.

[Text]

At least banks still generates an income to our deposited money, from saving or current accounts. If you want a bigger income then you should also increase your deposits, as simple as that. Banking is the safest way to store our money because it is protected and they can't run us, there are laws requlated by the government.

[Sled]

At least banks still generates an income to our deposited money, from saving or current accounts. If you want a bigger income then you should also increase your deposits, as simple as that. Banking is the safest way to store our money because it is protected and they can't run us, there are laws requlated by the government.

Yes we are earning money from our deposits in the bank but as you can see in your gains from your savings or deposits you can see that the income is very low and that is not worth it since the interest or the profit is so low and that will cause to your money to get eaten by the inflation rate which is more than the interest that you will be getting in your bank account savings.

[ReLieD]

Lol , I don't feel that a well certified bank will just do that . And of course depositing money in a bank which is not at all trusted is always a risk . Whereas depositing it in official banks is the safest way to store your money.

[Babylon]

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!

At that time I had confidence in banks, because I knew it was safe to hide the money you had accumulated. But because of thefts of money in bank accounts in our country? I was startled and scared suddenly. I do not know if I should trust the bank anymore? I thought that your money was safe, but now the bank is trying to fix the problems that are hurting them. How many netizens do the complainants, why they seem to have spent money on their bank accounts. Hopefully they will increase or increase the security of the banks.

[thoham]

Yes don't you ever trust in banks. In the 3rd country, your information is absolutely unsecurity, everyone who knows some tricks or has the relationship in bank can easily get every information of you. So bank isn't the good way to hold your money anymore. That's why Bitcoin was born to do that duty for you. Hold your private key and you can back up your wallets everytime you want.