You should never trust banks

[Khristian]

for me I'm not confident in the bank because of the size I dropped the bottom of my interest rate too low. so I just gather in the bank because they just benefit themoney wee putin the bank so I'm not confident in the bank.if the bank is close beacouse of bankrupt the bank loses money we do not know how much money we can get back.Choose a good bank if you save money

[justarmc]

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!

If your banks gets into trouble, Even though no fault of your own, you may be voluntered to give up 20-30% of your account in a bail in to help them cover their mismanagement. You pay the bank for holding your money. But if the case is they close your account without any reason,maybe you did something wrong or illegal that against to your bank.

[developer101dev]

You should never trust banks..i  don't think so because banks are companies and its powerful ..usually banks will close your account because you against their laws..and also they will never close your account suddenly without any reason

[Iyeman]

close account and at the same time seize money.. that is really absurd. doesnt happen in my country but then i personally dont like the idea of keeping money in the bank cos of the maintainance charges and all.. will rather buy bit coin

I just think you has made your own fault until the bank try to  close your account, For some reasons there is a bank that has used to grab the user's money rather than offering interesting service for all of the users.

[contrarian]

Banks are still the top choice to save money because banks are fully guaranteed by the state so if there is a problem the state can attend and help our difficulties. I have never hesitated with a bank because it has never found a problem.

Banks can have a lot of problems and the state won't always save the investors. Like what happened in Cyprus and the famous haircut in 2013. And like discussed in here, many times they can close accounts without much reason at all. Like people who deal with bitcoins and they don't like it so close the account or cause other problems.

[Nerman]

Well here in our country if the bank closes you are money are automatically insured up to 500,000. To be honest there are no alternatives to bank right now. Whatever we do or where ever we place our money there still risk of losing it. If you store it your house someone may steal it. If you store it in a chest then bur it under ground someone may see it.

It makes no sense right now to not trust a bank there are risk i know but this is very little risk compared to other alternatives.

[Gozie51]

Well here in our country if the bank closes you are money are automatically insured up to 500,000. To be honest there are no alternatives to bank right now. Whatever we do or where ever we place our money there still risk of losing it. If you store it your house someone may steal it. If you store it in a chest then bur it under ground someone may see it.

It makes no sense right now to not trust a bank there are risk i know but this is very little risk compared to other alternatives.

Well as usual ,trusting bank is a risk but I think the greater risk is not trusting the bank and keeping your money dug under the ground. The reason for me is, when your money gets missing under the custody of the bank, you can have either all back or some but the same is not said for money you keep for yourself. When it is lost, it is lost forever.

[gameK]

Well here in our country if the bank closes you are money are automatically insured up to 500,000. To be honest there are no alternatives to bank right now. Whatever we do or where ever we place our money there still risk of losing it. If you store it your house someone may steal it. If you store it in a chest then bur it under ground someone may see it.

It makes no sense right now to not trust a bank there are risk i know but this is very little risk compared to other alternatives.

Well as usual ,trusting bank is a risk but I think the greater risk is not trusting the bank and keeping your money dug under the ground. The reason for me is, when your money gets missing under the custody of the bank, you can have either all back or some but the same is not said for money you keep for yourself. When it is lost, it is lost forever.

But banks are the finalcial system of the goverments. They are under protected of goverments of that country. In my country, banks are the best place to work for, cause it's the most stability work and high salary , intellectual work. I don't know what happen in your country but in mine, banks are trusted.

[Costanza1]

Well here in our country if the bank closes you are money are automatically insured up to 500,000. To be honest there are no alternatives to bank right now. Whatever we do or where ever we place our money there still risk of losing it. If you store it your house someone may steal it. If you store it in a chest then bur it under ground someone may see it.

It makes no sense right now to not trust a bank there are risk i know but this is very little risk compared to other alternatives.

If you are smart about how you store your cryptocurrencies they can definitely be safer than a bank.  "Trusted third parties are security holes"

[JofryTheKing]

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!

And how can they be trusted if, during a crisis, they either burst or are nationalized. And where our money goes, into emptiness. And then prove and knock out your blood. You need to trust only yourself and no one else, but keep the money in hard currency or real estate.

[contrarian]

Well here in our country if the bank closes you are money are automatically insured up to 500,000. To be honest there are no alternatives to bank right now. Whatever we do or where ever we place our money there still risk of losing it. If you store it your house someone may steal it. If you store it in a chest then bur it under ground someone may see it.

It makes no sense right now to not trust a bank there are risk i know but this is very little risk compared to other alternatives.

If you are smart about how you store your cryptocurrencies they can definitely be safer than a bank.  "Trusted third parties are security holes"

But that is not for everyone. The prices are too volatile for many normal people to want to invest a lot of money instead of putting it in the bank. Maybe cryptocurrencies like the usd tether can help here. At least it always has the same value as the dollar and maybe more people would think that is less risky.

[Mynameisange]

The only disadvatage I see using banks is they have too many charges even on transfers and limit on withdrawals, Plus some security issues and holding your personal information everytime you have account with them. Hopefully you can get back what you have lost, and more power in your bitcoin activities.

[Casmania]

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!

And how can they be trusted if, during a crisis, they either burst or are nationalized. And where our money goes, into emptiness. And then prove and knock out your blood. You need to trust only yourself and no one else, but keep the money in hard currency or real estate.

I think it's all a matter of choice whether a person trust the bank or not, and what's important is how you are able to handle your funds. Although we trust ourself but bank is so important for us specially when exchanging our bitcoins to them.

[sumonrud]

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 It is a really unexpected issue.actually, personally, I believe the bank is the most secure way to store your money but why you close your bank account. And why has gone money to your account from the bank? in this circumstance I cannot trust the bank is the best way to saving money.

[pugman]

Obviously no shit, banks cannot be trusted with your funds because they will charge for bull shit reasons, but for the government it will be in their personal interests for loan purposes etc. It would be better if you have a locker in your home and store your funds because even when you store your money in online, it's very risky when the amount is big.

[ValVikram]

You just did not get lucky. Banks can be trusted.

[Patrikson]

I agree with you because you are never able to know what they actually do with your money you can not ask them what they are doing with it because you trust them that your money is safe with them and in the mean time they use it for there own.

[Sled]

I agree with you because you are never able to know what they actually do with your money you can not ask them what they are doing with it because you trust them that your money is safe with them and in the mean time they use it for there own.

Saving and depositing money in banks are not the only option that you can choose in banks because they have a lot of options for your money and if you will choose the most suited option for you then you will not have any worries for your money. If you will deposit it then they will use it for investment that will give them more profit so you better choose other options so you will know where your money is going and get more benefits.

[BrockHunter]

A bank won't close the record of contributor if theres no substantial reasons. I heard additionally here in my nation, an individual record of a specific standard client has been solidify the record. The bank reason they had seen a fraudster in that record and theyre questioning of a man believability to have a vast entirety of cash. Since they found a continous stores aggregate expansive of cash.

[coynedterm]

A bank won't close the record of contributor if theres no substantial reasons. I heard additionally here in my nation, an individual record of a specific standard client has been solidify the record. The bank reason they had seen a fraudster in that record and theyre questioning of a man believability to have a vast entirety of cash. Since they found a continous stores aggregate expansive of cash.

Here the OP is not talking about the simple bank account in his local area , Here correctly OP says that bank account in another countries that is not your birth place .
Here I recently heard that it is not much simple thing for us to have bank account in non resident country if we have no proof of business that we have in that country .
So here I think all the people (lawyers ) are not going in favour of you and only representing the bank system and Thier rules .
Well.here we got the lesson from the OP and we should learn that we should not do that mistake that OP done , and invest our money in bitcoin like things where to get return will also be better than to out and have interest in the bank .