You should never trust banks

[chess888]

Unbelievable. Especially the "no reason" part. Not all banks are like that. What kind of bank is that? Did the bank close or go bankrupt? What type of account? If it is a deposit product, does it not have insurance up to a certain amount? If it is an investment product, what happened to the investment?

[mahilchii]

You haven't given proper information on why your bank account has been closed and what the bankers eplained for the closure. I don't think without any reason banks can close the account, there are several reason for that but without the knowledge of customer the bank shouldn't close just like that. As you said bitcoin is changing all these nonsene things from banker and soon bankers will search for customers to use their service since most of the people will be moved to crupto currency.

[goldcoinminer]

Unbelievable. Especially the "no reason" part. Not all banks are like that. What kind of bank is that? Did the bank close or go bankrupt? What type of account? If it is a deposit product, does it not have insurance up to a certain amount? If it is an investment product, what happened to the investment?

bank would not do any illegal activities against its client because their reputation is at stakes here and since bank
is a business of trust they will not be profitable when their reputation will be destroyed.

[BossMacko]

I don't trust banks either even if they are trying to be a reputable bank in our country, i remembered before when they sent me a credit card in my mailbox without my concent, anyway i still took it and used it since they mentioned when i called the bank that it is free and i can use it anytime whenever i don't have enough money if i do shopping. So i used it for a months and of course i paid my credits every month to them but a year after i saw my bill that has additional 116$ and i asked them about that they told me that was the annual fee for the cards. From that moment i paid all my bills in that bank and deactivated those cards and ask for Certificate of Clearance because even if i am not using those cards anymore i will keep getting annual fee that they didn't discussed to me when i called them. That is the reason so now it is better for me to convert some of my extra cash to Bitcoin and make Bitcoin as my bank.

[rememberme15]

You can look for other people who experienced that too. And then try to bring the matter up to get the attention of those higher ups and involved, surely they would want to defend and clear the bank's name from their anomally (especially in public). They wouldn't wanna lose their future investors because of a single issue.

[t2yax]

At some point I can say yes, because now in my country we are having a problem about bank issues, the account holder is keep on saving her money in the bank then all of the sudden she will notice that her bank account is zero which is very very bad! We are always thinking that better to save in the bank so there is no reason of expending it all when its all in our hands. I hope bank will be more careful about this and any other problem, because we dont just picking up those money in the street , we worked really hard to earn it.

[carlisle1]

If you understand the way the banking system works then your funds are almost entirely safe within a bank, there are already laws in place that deposits are protected up to a certain level, normally this level is only a minimum anyway as banks are too big to fail and will be bailed out. In theory, banks are only ever under threat once there is a run, similarly to a ponzi scheme.

as you mentioned that banks are safest place to deposit well i agreed on that since i myself now are goes back in banking for some future deposit for securty purposes,even it offers small amount of interest still assured me that my grandest will cherish when time comes..
 
As for the OP i really cant believe that banks will just closed his accounts without any reason and without further notice,this is unprofessionalism and must not be tolerated.maybe he must go to higher court to file necessary actions

[troydar05]

Before they close your account they have to warn you or send you a notice letter. Your bank is not good.

[cryptowizze]

but so many people are loving ripple which is controlled by the banks, can you explain this to me?

[kkukkugaga]

Today, I don't refer investing and saving in any bank because of so many unknown transactions. Some people are ranting because there's someone who withdraw money from his account wherein he didn't go to any bank to withdraw them. That's really frustrating. I think MEW is way better to secure your account since only you can access it and it requires password and PK, rather than in bank account where the staffs can see yoyr account and that's no longer private. In terms of money,  privacy is really important.

[jassanpary]

Before they close your account they have to warn you or send you a notice letter. Your bank is not good.

No banks will close the account without informing to the customers; I don't think banks are cheating or misleading people. Banks are serving the people, but nowadays maybe they are charging more money for giving the banking services that is the complaint getting from various people, apart from the banks working fine.

[lionheart89]

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 do not know which bank you keep the money. In my opinion, large banks and professionals do not seem to close the account for no reason. even one of the safest money-storage places is the bank.

[mstfprcn]

I don't have any reasons not to trust banks because as far as I know, banking storage of money is reliable and many business owners deposited their assets on a savings accounts they have for fiat cash money.but of course i prefer the blockchain instead of banking.

[johndavid11]

It actually might depend on the bank but for sure all financial institutions are evil I'd say the anathema of the world, has to be eliminated, root and branch, in all its forms and manifestations

[twicezeroiszero]

Before they close your account they have to warn you or send you a notice letter. Your bank is not good.

Are you using the national banking or other banking type?
If you are using the national banking system, as far as I know, there is no issue like you said.
It will not close the customer's account without good reason.

[conected]

Before they close your account they have to warn you or send you a notice letter. Your bank is not good.

Are you using the national banking or other banking type?
If you are using the national banking system, as far as I know, there is no issue like you said.
It will not close the customer's account without good reason.

- That depends on the country you live in, not every national bank is good and there are no problems, if your country is not reliable and so much corruption, national banks can take advantage of poor management from the government to get money from customers and then close accounts without good reason. We denounce, governments and banks will not care, it does not have much effect when banks and governments work together, therefore, sometimes not completely trust the bank is a right thing

[ecnalubma]

I trust banks because its the traditional way to keep money and its been around for many centuries the only downside is their adoption level  in crypto currency is very low, but we cannot blame them for doing that It takes a lot of debate before they accept the nature of crypto.

[Aso at bata]

As of now I have no reason for not trusting the bank because that is the only way to save some of my money. Maybe you have also a fault for what happened in your bank account.

[King Sastro]

I trust banks because its the traditional way to keep money and its been around for many centuries the only downside is their adoption level  in crypto currency is very low, but we cannot blame them for doing that It takes a lot of debate before they accept the nature of crypto.

The most important thing is that all the money we keep in the banks is guaranteed full by the state, it makes us never hesitate to save in banks, and for tens of years I saving until now have never found a big problem and all money is safe.

[petyang12]

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 dont trust bank if your topic is about bank everywhere you go bank is not for free they let you deposit your money but of course you have to pay for them in order to keep your account safe it is better you keep your money in your own. You dont have to depend on bank you. There is a limitation in bank accounts. So all i can say is dont trust anyone in bank just trust yourself.