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Author Topic: What don't you like about Banks and Banks controlling your money  (Read 5406 times)
Playboi
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May 31, 2017, 03:34:33 PM
 #1

Firsty, them deciding what is suspicious and not suspicious

Not everybody is an employee working for someone. Some people are entrepreneurs, and as an entrepreneur, you can have some HUGE days. I don't need a bank telling me that my successful day where i made $20k+ is suspicious if I want to withdraw all of it. (people have been arrested for making large withdraws before).

Also, banks freely allowing their customers to scam business (via chargeback). Instead of blindly chargingback purchases and screwing over merchants, visa applicants should be required to take a course outlining the risks of credit cards, and Visa should do proper investigations when a chargeback is brought up.

If a tracking number and proof of delivery can be proved, why should the customer be given their money back?

ALSO, i recently looked into banking investment options. It comes across as a way to just make more money off customers. Think of it like this. It's like it's just them taking your money so they can invest it in polyniex. I only tried it out cause my family (who doesn't know about bitcoins) encouraged it.

Do you have any gripes about banks
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May 31, 2017, 03:45:15 PM
 #2

Anyone that works at the bank can see all your account information. Monthly fees, atm fees, overdraft fees. Banks suck!

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May 31, 2017, 03:47:50 PM
 #3

My biggest issue would be unauthorized withdrawals and things of that nature. That and having to answer to the bank if you want to withdrawal high amounts.

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May 31, 2017, 03:54:21 PM
 #4

Ultimately it's the law makers who are breathing so heavily on banks to make them twitchy fuckers. They're the ones who are responsible.

But yes, were I to sell a vast amount of whatever and deposit it in the bank there's a good chance it would be frozen and I'd have to justify the source of the funds. Even that might not be enough.

I wonder how many people out there truly understand that once your money enters the banking system you've completely relinquished control of it. Not too many I expect.

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May 31, 2017, 04:01:59 PM
 #5

A bank can close withdrawals at anytime, like what happened in Greece a while ago. People could withdraw a maximum of 30 EUR per day.

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May 31, 2017, 04:02:44 PM
 #6

Anyone that works at the bank can see all your account information. Monthly fees, atm fees, overdraft fees. Banks suck!


Indeed so the rules used by banks and we can not deny, of course, different from the system applied to bitcoin.
But whether system of freedom in bitcoin will change if bitcoin legality is recognized by government?


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May 31, 2017, 04:11:18 PM
 #7

Coming to what I like about Banks..
The best thing I can mention is indeed 'loan and debts'. One can finance expensive things which is usually not in his reach with bank loans. Moreover, interest rates as charged by banks are more or less within consumers reach. Most of the time, banks are cheapest mean of raising funds.
Now coming to what I not at all like about Banks..
The worst thing I can mention is indeed 'loan and debts'. From point of view of customers, banks generally manipulate customers due to their ignorance as well as own their commodity through 'hire purchases'. Most of the times, customers are not real owner of commodity until they pay off debts. While from the view of banks, usually big house as well as minor borrowers turn NPA thus contributing to the loss of national wealth.

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May 31, 2017, 04:16:25 PM
 #8

Anyone that works at the bank can see all your account information. Monthly fees, atm fees, overdraft fees. Banks suck!
IN somehow, banks still help people to maintain their money and they can trust the bank 75% that they will never lose your money.



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May 31, 2017, 04:33:34 PM
 #9

Coming to what I like about Banks..
The best thing I can mention is indeed 'loan and debts'. One can finance expensive things which is usually not in his reach with bank loans. Moreover, interest rates as charged by banks are more or less within consumers reach. Most of the time, banks are cheapest mean of raising funds.
Now coming to what I not at all like about Banks..
The worst thing I can mention is indeed 'loan and debts'. From point of view of customers, banks generally manipulate customers due to their ignorance as well as own their commodity through 'hire purchases'. Most of the times, customers are not real owner of commodity until they pay off debts. While from the view of banks, usually big house as well as minor borrowers turn NPA thus contributing to the loss of national wealth.

The funny thing about what you are saying is that I agree with you and I really really disagree with you at the same time.

I agree with you about everything stated above in that people will inevitably need to borrow money at some point in time, which can act as a double edged sword.  But I feel as if you are missing the point.  The "root of all evil" in terms of Banks controlling your money is not the Banks you go to locally and get a loan from; but the Banks who actually control your money, the centralized banks are the root cause for everything bad about Banks and "money" as the general population knows it.  Inflation is the shit that will keep us wage slaves for eternity... they will never want Bitcoin to be used because it is more sound and backed by a known limit/scarcity like gold.
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May 31, 2017, 04:36:29 PM
 #10

I hate the fact they add fees on everything.
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May 31, 2017, 04:48:01 PM
 #11

I hate the fact they add fees on everything.

Where do you bank? Where I'm at in the UK banking is free and near instant transfers are free too. Elsewhere in the EU you can do intra EU transfers that are almost as fast that cost very little.

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May 31, 2017, 04:50:52 PM
 #12

Well if you want me to compare with bitcoin , bank can't send money to everywhere but bitcoin able to send everywhere
Bank also charge monthly fee for keeping but bitcoin provide cheaper fee than fiat which is my advantage to open my online shop for more profit !

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May 31, 2017, 04:57:16 PM
 #13

What I don't like in a bank is that bank can really access your account, they can detect your assets (cash) and that is what I hate most, I want to have some privacy with my account, even a simple employee at the bank can know how much you have in your account. And of course, worst thing is that bank really have low interest rates which cannot give a justice of staying your money with them. You are just like saving in your wallet.

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May 31, 2017, 04:58:45 PM
 #14

First of all I don't like banks becaise I think they have caused every financial crisis on this earth. They always run only for profit and don't care about the concequences and what will hapenn next. They charge too much for their services and they are often dishonest to their clients. At least this is the situation in my country. And that is why the Bitcoin is alternative.

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May 31, 2017, 05:02:36 PM
 #15

Banks create money out of nothing.  The money that they create is now not based on gold or another scarce asset - it's only based on non-existent money that was created before it.  The money's creation is very poorly regulated.

You should try watching the documentary Money Is Debt (revised). 

Furthermore, banks are seldom insured for more than a hundred thousand dollars or so in your local currency.  At any point they could prevent withdrawals to avoid a run on the bank.

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May 31, 2017, 05:35:58 PM
 #16

i don't like banks becuase Banks will always take advantage of your finances in the field of capital and the pieces are very unpleasant.  Wink
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May 31, 2017, 05:50:40 PM
 #17

Everyone has a gripe on bank specially credit cards that has a lot of hidden fees, ATM machines going offline when you needed them most and most specially debt you can incurred. Worst case is banks closing without your knowledge and then the cat and mouse begins on where and when to get your money back (FDIC). We are all victims once time or another by banks.

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.POWER. PLAY
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Faiyz
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May 31, 2017, 05:58:51 PM
 #18

Everyone has a gripe on bank specially credit cards that has a lot of hidden fees, ATM machines going offline when you needed them most and most specially debt you can incurred. Worst case is banks closing without your knowledge and then the cat and mouse begins on where and when to get your money back (FDIC). We are all victims once time or another by banks.

For me that is fine because the issue is not always in a certain establishment but rather the users. Banks has a lot or perks although i would prefer online wallets than actually in banks. Those 2 can have a good security but wallets addess has much better security protocols. WE just need to educate ourselves better so that we can actually use banks also a trustable account manager.
skorupi17
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May 31, 2017, 06:41:45 PM
 #19

Before anything else, I am not a pro or con bank. I am at the middle.

Banks have their purposes and one of those is to help the economy and the people. With every deposit a percentage will be used for investment or whatever. That greatly helps some people in need as well as the economy as a whole. However, banks have poor security. They are fooled by identity theft, breakdown of main server freezes all transactions. When the bank becomes bankrupt, only a portion of your asset/money will be returned to you especially to those who have millions in their account.
mrayazgul
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May 31, 2017, 10:11:50 PM
 #20

A bank can close withdrawals at anytime, like what happened in Greece a while ago. People could withdraw a maximum of 30 EUR per day.

We dont need banks that why we choose yo have bitcoins. If the OP idea is to have bitcoin bank all controlled by govt. , then there is no point of having a de-centralized system of bitcoins.
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