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Author Topic: List of bitcoin hostile banks. [edit] New thread see first line.  (Read 30419 times)
Isokivi
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April 28, 2013, 06:55:34 PM
 #1

[edit]I am nolonger maintaining this thread, but joesmoe2012 has kindly promised to do so, the new thread can be found at https://bitcointalk.org/index.php?topic=264679.new#new

To qualify on the list a bank or payment processor must without explanation terminate or refuse business of legitimate bitcoin busineses. The point of this threas is to name and shame said institutions and to encourage people who are there customers, regardless of bitcoin, to take there business elsewhere.

ATM This is by a long shot not a comprehensive list, your contributions are required. For starters it would be beneficial if someone could sum up the UK bank situation I am not up to date. Also I would like to know if AML and KYC requirements have been met by the services in question, if not then the entry does not belong on the list imo, discuss.

Bank / payment processor name      Country                            Proof                                                                         AML/KYC status

The Royal Bank of Canada                   Canada                    http://www.salon.com/2013/04/26/canada_tightens_restrictions_on_bitcoin_trading_partner/. https://www.libertybit.com/news
TDBank                                            Canada                    http://www.salon.com/2013/04/26/canada_tightens_restrictions_on_bitcoin_trading_partner/
Suomen verkkomaksut / checkout.fi      Finland                     Multiple reports of declining buisness with bitcoin related services, including bittiraha.fi.
Commerzbank                                   Germany                   Shut down bitcoin24 account
Capital One                                          ?                         Shut down bitfloor account
Metro Bank                                          ?                         Shut down intersango account
Barclays                                          UK                           Prevented MtGox, Intersango and Blockchain.info from accepting GBP.
Banco do Brasil                                 Brasil                       Shut down mercado bitcoin account
Ukash                                                                           http://www.reddit.com/r/Bitcoin/comments/1dbyo0/ukash_declines_merchant_application_for_bitcoin/
Royal Bank of Canada                        Canada                    https://www.coinforum.ca/discussion/57/canadian-bitcoins-and-cadbitcoin-have-accounts-frozen
Toronto-Dominion Bank                       Canada                   https://www.coinforum.ca/discussion/57/canadian-bitcoins-and-cadbitcoin-have-accounts-frozen
Bank of Nova Scotia                           Canada                   https://www.cavirtex.com/news , another user confirms he's account being closed too (in this thread, page 3).
Comercia                                             ?                        http://www.wired.com/wiredenterprise/2013/07/iafcu
Unconfirmed reports:
Paypal                                            Global                      https://bitcointalk.org/index.php?topic=202431.msg2114217#msg2114217

Bank name                                     Country    
Sofort Bank                                      Germany                  Proof was given to me in a private message I will not publish, unless it's sender gives me the go ahead, my source tells me anyone can verify this                                                                                                                by contacting the bank about opening an account for a bitcoin related buisness, perhaps someone fluent in german could do this ?
Uncategorized
Dwolla                                              US                       http://arstechnica.com/tech-policy/2013/05/feds-seize-money-from-top-bitcoin-exchange-mt-gox/ http://bitcoin.stackexchange.com/questions/10924/why-cant-dwolla-send-to-mt-gox                                                    It would appear that Dwolla is in no way hostile, but I felt it should be included on this list while the situation persists.
                      


Bitcoin friendly banks:
Bank name                                       Country               Relevant information
SEB                                                  Sweden                Swedish article, use google translate.
Nordea                                              Finland                 Conducts business with bittiraha.fi
Osuuspankki                                       Finland                 Conducts business with bittiraha.fi
Tapiola                                              Finland                 Conducts business with bittiraha.fi
Bank of Montreal                                 Canada                 Working with CaVirtex
Internet Credit Union                            ?                         "taking a proactive pro-Bitcoin stance" http://www.reddit.com/r/Bitcoin/comments/1g2r6q/audenx_is_a_badass/cagg431
TD Bank                                              US                     https://bitcointalk.org/index.php?topic=189917.msg2794888#msg2794888
Fidor Bank AG                                     Germany               http://www.newswire.ca/en/story/1197313/bitcoin-de-and-fidor-bank-ag-agree-on-large-scale-partnership

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Isokivi
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April 28, 2013, 06:56:33 PM
 #2

I hereby promise I will never do business with a single bank that makes this list. I will do my best to avoid doing business with any of there customers.

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April 28, 2013, 07:04:16 PM
 #3

I will do my best to avoid doing buisness with any of there customers.

Huh  Huh
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April 28, 2013, 07:05:00 PM
 #4

To my understanding "Sofort bank" isn't a bank but a payment processor. It handles payment processing with webshops and works with multiple banks.

(Since OP is from Finland, equivalent companies from Finland would be "Suomen verkkomaksut" or "checkout.fi" - they are allowed to select their customers and also aren't dealing with bitcoins)

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April 28, 2013, 07:07:38 PM
 #5

Payment processors in Finland are very hostile to Bitcoin but that is only because the banks have declined to allow the instant payments related to Bitcoin purchases. Thus far at least.

For regular SEPA transfers and basic banking activities, no Finnish bank has shown any hostility. We run the biggest Finnish exchange and use 3 Finnish banks, no problems so far.

We've recently made new attempts to get the instant payment buttons to our exchange because that would increase convenience quite a bit, let's see how it goes.

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April 28, 2013, 07:11:06 PM
 #6

I will do my best to avoid doing buisness with any of there customers.

Huh  Huh
Trying to set an example, hoping others will follow. My main point here is to show that this is and will be a major concern when selecting banks.
[edit] Consider it something similiar to what the gay movement did way back by stamping cash with the pink tringle that nazi Germany assigned them dcades earlyer during the second world war.

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April 28, 2013, 07:23:52 PM
 #7

Payment processors in Finland are very hostile to Bitcoin but that is only because the banks have declined to allow the instant payments related to Bitcoin purchases. Thus far at least.

For regular SEPA transfers and basic banking activities, no Finnish bank has shown any hostility. We run the biggest Finnish exchange and use 3 Finnish banks, no problems so far.

We've recently made new attempts to get the instant payment buttons to our exchange because that would increase convenience quite a bit, let's see how it goes.

I make my cut from the delays of the banks (and Technomage's service). People don't object paying 10-15% over gox if they can get it now.

None of the banks I use has given a fook, whether the business is related to bitcoin or not. I am entertaining the thought that banks, accountants, taxmen etc. just all get infused with bitcoin in such an early stage of the rise (such as now), that they will quit their jobs en masse and there will be no one left to tax us after a few months  Grin
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April 28, 2013, 07:37:36 PM
 #8

Payment processors in Finland are very hostile to Bitcoin but that is only because the banks have declined to allow the instant payments related to Bitcoin purchases. Thus far at least.

For regular SEPA transfers and basic banking activities, no Finnish bank has shown any hostility. We run the biggest Finnish exchange and use 3 Finnish banks, no problems so far.

We've recently made new attempts to get the instant payment buttons to our exchange because that would increase convenience quite a bit, let's see how it goes.

I make my cut from the delays of the banks (and Technomage's service). People don't object paying 10-15% over gox if they can get it now.

None of the banks I use has given a fook, whether the business is related to bitcoin or not. I am entertaining the thought that banks, accountants, taxmen etc. just all get infused with bitcoin in such an early stage of the rise (such as now), that they will quit their jobs en masse and there will be no one left to tax us after a few months  Grin
I dare you to start operating a live online bitcoin/fiat exchange. Seriously, you propably have most if not all the required resources at your disposal and it'd eventually free up more of your precious time, not having to talk to two or three customers a day ; ) You'd prolly end up making more pocket change in the process.

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April 28, 2013, 07:44:35 PM
 #9

I will close my TD account this week citing their unwarranted hostility towards Bitcoin as the reason.

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April 28, 2013, 08:34:23 PM
 #10

There was a similar cataloguing effort on Reddit a week ago, whence you might source some more institutions:

http://www.reddit.com/r/Bitcoin/comments/1cm9le/list_of_banks_that_dont_want_bitcoin_to_succeed/

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April 28, 2013, 08:49:36 PM
 #11

There was a similar cataloguing effort on Reddit a week ago, whence you might source some more institutions:

http://www.reddit.com/r/Bitcoin/comments/1cm9le/list_of_banks_that_dont_want_bitcoin_to_succeed/


copying the list over there to safe you people one click:

Quote
Commerzbank (shut down bitcoin24 account)
Capital One (shut down bitfloor account)
Metro Bank (shut down intersango account)
Barclays (shut down mt gox UK account)
Banco do Brasil (shut down mercado bitcoin account)

Ente
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April 28, 2013, 09:38:50 PM
 #12

Royal Bank Canada and TD bank in Canada are two banks I used to do business, years ago. Both offered such miserable service (high fees, surley staff, at the very least 20 min. lineups) that i quit both and found infinitely better service at BMO (bank of montreal) I rarely wait more than 5 min. in line, the staff is friendly and eager to please, their fees are minimal. After moving to BMO I cannot believe ANYONE would do business with the other losers. TD even told me, when I removed all my money from them and asked them to close my account, that there is a SIXTY DOLLAR FEE TO CLOSE ACCOUNT! WTF?Huh? I simply left 3 cents in the account and abandoned it. I guess TD sees this as a 3 cent win, but they will NEVER get the slightest endorsement from me, to the extent that when doing business with clients that use TD I recommend they switch. Absolutely one of the worst financial institutions ever. The only reason I can think that anyone still goes there is; some people WANT their bank to lord it over them and treat them like dirt because it makes them feel secure, or something.


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April 28, 2013, 09:39:53 PM
 #13

I will close my TD account this week citing their unwarranted hostility towards Bitcoin as the reason.

Damnit TD, you've been so good to me until now. I may have to end up doing the same.
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April 28, 2013, 09:40:08 PM
 #14

I will close my TD account this week citing their unwarranted hostility towards Bitcoin as the reason.

just empty the account and leave it. Assholes at TD try to charge you 60$ to close account.


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April 28, 2013, 10:09:05 PM
 #15

Is there concern over just the Canadian side of TD? or TD Bank, N.A. (USA subsidary) as well?

edit: The article is linking to the TD Bank (american) website, which will probably just cause confusion.
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April 28, 2013, 10:15:51 PM
 #16

Bitfloor was closed down by bank of america.
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April 28, 2013, 10:48:39 PM
 #17

May I suggest compiling a list of "friendly" banks along side?
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April 28, 2013, 10:53:06 PM
 #18

Great idea, will be nice to also add to wiki's once a more complete list is formalised.

I do have a bitcoin project or two in the works (Slowly) which would require cooperation from banks, so knowing which ones could dislike bitcoin in general would help in choosing which one to go for.

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April 28, 2013, 11:01:27 PM
 #19

If OP decides to add "friendly" list:

I used Lloyds TSB in UK to do multiple transfers to mtgox.
Usually takes 3-4 working days.

As a side note - there is something very dodgy with Lloyds TSB fee calculation.

Transfer itself costs £20. On top of that you get charged <£10 at the other end.
The dodgy part is that sometimes they add ~£100 charge(this depends on the size of tx) - happened on 2 out of 5 transfers.
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April 29, 2013, 12:49:55 AM
 #20

Bitfloor was closed down by bank of america.

Not true. Bitfloor's funds were kept in a Chase bank account.

Bank of America was just a venue for deposits made through a third party. (LocalTill)
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