You should never trust banks

[Flexibit]

It is not about not trusting banks. Its about choosing the best bank available in your area who has the "lesser evil". Each banks has it's own pros and cons. You need to weigh down the differences and stick to the ones that will cater to your banking needs.

[FoxTheHuman]

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!

You are one of the few people who encounter such problems, really, but I do not like the way they answer and support you in this trouble.

[redsuncrypto]

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.

Totally agree with you, there must have some illegal trouble

[sumangs]

Maybe you have a bad experience on banks. I think they noticed some suspicious activity in you bank account. It is better to scatter your funds in different bank accounts.

[dogz12]

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 your account was stagnant for a long period of time and if this happens banks have the right to deduct charges until your account dries up. But for banks to die, impossible.

[channingwilmer]

It is not about not trusting banks. Its about choosing the best bank available in your area who has the "lesser evil". Each banks has it's own pros and cons. You need to weigh down the differences and stick to the ones that will cater to your banking needs.

I agree. There are many banks that are extremely good. But in my coutry, banks are not very good. THey are truly scammer. Actually, they are not really scammer but their agents are scammer. Banks can not control those people and they refuse to take responsibility of their agents

[PMmesexycoins]

Fair point, but then again trusting an exchange or anyone to hold your crypto isn't any better, it's actually riskier with the lack of regulations.

Not to say there aren't risks in having access to all of one's own funds at any given time, when there's many out there willing to harm you for them.

[vinz7229]

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.

 that's true, banks don't usually do that without any valid reason, maybe you violate some rules and regulations of the said bank. But their's some instances that the bank can terminate or close an account without further notice. example their client open an a checking account, i think there is a rules  that once you issued a check that is name by you and was bouncing check, first offence your account will be charge and if you don't fixed it they will closed your account without any further notice or letter coming from them. correct me if im wrong thank  you.

[Maslate]

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.

 that's true, banks don't usually do that without any valid reason, maybe you violate some rules and regulations of the said bank. But their's some instances that the bank can terminate or close an account without further notice. example their client open an a checking account, i think there is a rules  that once you issued a check that is name by you and was bouncing check, first offence your account will be charge and if you don't fixed it they will closed your account without any further notice or letter coming from them. correct me if im wrong thank  you.

They need to follow the law, if there is an order that a certain accounts is suspected as money launderer then they will freeze the account.
Don't worry banks would not do anything against the law because the punishment is very serious for them, and also they will be penalized financially.

[goldcoinminer]

Fair point, but then again trusting an exchange or anyone to hold your crypto isn't any better, it's actually riskier with the lack of regulations.

Not to say there aren't risks in having access to all of one's own funds at any given time, when there's many out there willing to harm you for them.

The big difference why banks are safer than exchanges is that banks has an insurance while exchanges does not have any.
We heard a lot of news before about exchanges being hack so our money is gone also, but with bank, we will be refunded by the insurance agency.

[zmkriel]

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.

I don't know if we have the same country but in my country, it is not actually the particular person's account that has been closed infact the bank itself. The bank declared bankruptcy same as the people's account. It happened not just once but many times already with different bank. So that is the reasons why I don't trust banks here my country.

[CaterpillarRave]

Fair point, but then again trusting an exchange or anyone to hold your crypto isn't any better, it's actually riskier with the lack of regulations.

Not to say there aren't risks in having access to all of one's own funds at any given time, when there's many out there willing to harm you for them.

It's not smart when you're against the trusted system in this world. Banks was made base on the high trust, responsibility and exactly . There is some misunderstanding in your case but i'm absolutely believe in my bank system .

[Phalo]

Banks are not trustworthy, they should never be trusted. I have exactly the same attitude with exchanges. They are bitcoin banks. Never leave your money there.

[BitMasterino]

Banks like other kind of business want to earn money. They are indifferent to your problem. Countries and layer is only one thing that can protect your interests

[rfouziha]

It is not correct that we should never trust banks. Millions of banks in the world functioning which is source of transaction of poor to rich in billions. We cant blame because of mistakes done by few banks only. Its like an accident happens and next level it can be corrected. Some how we don't have choice also and we have to run behind banks.

[Ruz05]

Give us one reason Valid why the bank account can be closed to make an investment,

[cryptojaani]

Maybe you have a bad experience on banks. I think they noticed some suspicious activity in you bank account. It is better to scatter your funds in different bank accounts.

i think in these years from past we need to learn more that we need privacy Unfortunately, currently this holds true for almost all centralized institutions. The good news is that nowadays, through the use of Bitcoin wallets, we can be our own bank.By using banks there are clear benefits, but we do not need to have all the funds in it.banking system also need to be more more clear and more secure.

[dragonbhai]

Maybe you have a bad experience on banks. I think they noticed some suspicious activity in you bank account. It is better to scatter your funds in different bank accounts.

I do trust banks because they are now working together with bitcoins. With the help of a bank I can have my coins converted to fiat money on my hand. So there is no reasons to not trust them. They are providing us the services we needed it just like a give and take process; most of here will agree to me

[mininglegend1234]

Maybe you have a bad experience on banks. I think they noticed some suspicious activity in you bank account. It is better to scatter your funds in different bank accounts.

in think this is not right choice that you should never trust banks.because if you are not going to trust on banks than what is the next option .are you thinking to make an account on block chain wallet and used that wallet instead of it.which is not right ,because in banks you have proper system .to whom you can challenge in the courts .but you cannot make case or challenge your wallets company.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 .its all about trust .

[Finestream]

Maybe you have a bad experience on banks. I think they noticed some suspicious activity in you bank account. It is better to scatter your funds in different bank accounts.

I do trust banks because they are now working together with bitcoins. With the help of a bank I can have my coins converted to fiat money on my hand. So there is no reasons to not trust them. They are providing us the services we needed it just like a give and take process; most of here will agree to me

It's not them who are working with bitcoin, maybe there are 3rd party people who are willing to start a business using bitcoin and help us bridge the transaction to our banks with our bitcoin. Bitcoin is a payment system or a currency, but regardless of our own definition, it's a complete opposite with the current banking system because banks are centralized while bitcoin is not, banks can be trusted of course because they are operating under the law of a certain country where they are covered.