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Author Topic: What don't you like about Banks and Banks controlling your money  (Read 5361 times)
Yakamoto
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May 31, 2017, 10:29:06 PM
 #21

I personally do not like how banks have accounts that can't even beat inflation for most instances, and I don't like how they have overreaching and frankly very annoying policies put on them by governments which heavily regulate what they are allowed to let customers do.

I've always wondered if the "limit cash withdrawals to $x amount" and whatever caveats that go along with them is a means of preventing bank runs rather than anything.
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May 31, 2017, 11:13:57 PM
 #22

Talking about bank well honestlly I don't like the bank because they always charge me for everything even for nothing like fee for using atm machine, fee for transfer to the same or another bank and the most crazy is you will always pay monthly fee even though you don't use their service for transaction, well i think it just my bank, right?On the other hand it's centralized they have ultimate controll over my money they can freeze it or maybe run away. You know what i prefer to save my money on my bedroom instead of saving them out there, maybe if i had lot of money i will consider it.

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May 31, 2017, 11:27:55 PM
 #23

Talking about bank well honestlly I don't like the bank because they always charge me for everything even for nothing like fee for using atm machine, fee for transfer to the same or another bank and the most crazy is you will always pay monthly fee even though you don't use their service for transaction, well i think it just my bank, right?On the other hand it's centralized they have ultimate controll over my money they can freeze it or maybe run away. You know what i prefer to save my money on my bedroom instead of saving them out there, maybe if i had lot of money i will consider it.

I once had a problem with the bank where my account was suspected of doing illegal transactions but I never did, but didn't last long and we solved the problem by mutual agreement. Bank is a centralized product, and you live with a centralized capitalist system, if you deplore transfer fees and monthly fees for system development and hire staff and employees at the bank, at least your account authority is guaranteed by the government to be safe guarded, you must understand correctly. This is much better than you save one billion in your home and then you are robbed or your house is on fire. Over time, in my opinion, bitcoin will also be included in the bank application system.



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May 31, 2017, 11:37:21 PM
 #24

Anyone that works at the bank can see all your account information. Monthly fees, atm fees, overdraft fees. Banks suck!
Im having positive and negative thoughts about this bitcoin banking thingy. What I like about banking is it is safe with the hands of the bank and such transactions will be more convenient because the bank will work for you but contratry to what i have said it sucks because sometimes you cannot trust some banks with your money especiallt with bitcoin you have worked on. And fees for transaction sucks. But what do we know, change is the only constant thing on earth. We never know what happens in the next day but let us look in the brighter side.


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June 01, 2017, 12:20:25 AM
 #25

First I don't like bank because every of our transaction is being watched and maybe I am paranoid because I saw in TV how easy for the hacker to hacked our account and spend our money, whether it's from ATM or internet banking and there is so much document that I need to provide when I want to open an account


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June 01, 2017, 12:47:02 AM
 #26

Anyone that works at the bank can see all your account information. Monthly fees, atm fees, overdraft fees. Banks suck!
Im having positive and negative thoughts about this bitcoin banking thingy. What I like about banking is it is safe with the hands of the bank and such transactions will be more convenient because the bank will work for you but contratry to what i have said it sucks because sometimes you cannot trust some banks with your money especiallt with bitcoin you have worked on. And fees for transaction sucks. But what do we know, change is the only constant thing on earth. We never know what happens in the next day but let us look in the brighter side.

It is good having a Bitcoin bank or store your money in a bank because it what publicly known where you save your money securely and together with the laws and regulations that added up to the security. In contrary, banks itself can endanger your money especially when they see it as questionable as to where did you get it then you will take the hassle to present the proof and considering that some people are not aware, especially those older ones in the government, of Bitcoin they will again question this. A lot is asked while in Bitcoin there is not much which is very convenient.

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June 01, 2017, 12:58:13 AM
 #27

I don't like traditional banks, they are always ready to reveal the secrets of the operation

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June 01, 2017, 01:16:13 AM
 #28

I don't like they charge fees just to keep my account there active, I don't like they watch our account, our financial movements and depending how much you have, how much you are transacting they will start asking from where the money comes, they will want we pay more fees... Not by themselves, but together with country authorities.

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June 01, 2017, 02:24:48 AM
 #29

For me it is okay for the charges fees because that is the equivalent fee for every transaction we made in the banks in order the bank to move to pay there staff and other bank transactions.

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June 01, 2017, 02:41:12 AM
 #30

Banks control our funds and they hold or freeze the accounts sometimes without real or solid reasons. Also they apply high fees for the transactions. Using Bitcoin or altcoins is better to avoid similar problems.
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June 01, 2017, 03:08:42 AM
 #31

The things we don't like about banks seem too many to mention. The charges when you have to deposit to a provincial branch, the online fund transfer, the withdrawal limits, the time it takes to clear a cheque, the verifications needed, the maintaining balance. I could go on and on, and the list can even get longer. These are financial institutions regulated by the government so they are imposing all these policies that try to limit how we use the money we entrusted to them.


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June 01, 2017, 03:13:14 AM
 #32

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

Well I guess this works the same way as anyone that owns the web wallets and such, people are able to see all the information that you have to provide, it's not like you're one to provide a ton of information to these people as well but they're able to track all of your stuff as well, and certain web wallets even charge you extra fees if they're able to.

I don't have an issue with banks having control over my money as well, I think of it as something along the lines like this, it's a trade-off when people like them have control over seeing my stuff and charging my fees. Though they do offer a good insurance, well the government does which is known as the FDIC insurance. This is a trade-off which I think is in our favor.

Some of you people really do love anonymity, but I don't have a high amount of care for it. I don't like being overly tracked, but It comes with the times.

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June 01, 2017, 03:24:35 AM
 #33

Banks control our funds and they hold or freeze the accounts sometimes without real or solid reasons. Also they apply high fees for the transactions. Using Bitcoin or altcoins is better to avoid similar problems.

A-fucking-men. Wells Fargo is my bank. From inexplicable fees, to transactions that provision in the worst possible order (they love holding transactions to cause overdrafts). These guys live off the fees, it's their bread and butter, and it shows. Despite how high the fees are with BTC at the moment, at least they are clearly deliniated, rational, and honest. I'm paying a fee so some magical shit with numbers and blocks can combine with vitamins and enzymes into some kind of mixture that gets my transaction confirmed. I'm blissfully ignorant, I have no problem with that Wink 

But paying a fee because I didn't use my card enough times in a month? That's Some Bullshit.
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June 02, 2017, 05:40:43 PM
 #34

Much as I use their service so I don't have to worry much about carry around cash, there really is some things that make me uneasy. For example, I don't use their investment services, I just have a savings account that I put money every now and then. As expected, the interest is negligible, the only benefit I'm getting out of it is that I don't have to keep the money at home.

Another is how low the "insured" amount is. Just $101k... Like, what will happen if I ever have more of that?

I've never had problems with them suspending my account, though there was one time when they held the remittance sent to me for a few days because it was "quite large than the usual".

Despite being a third world country, we've never had problems with banks limiting withdrawals though I suppose that would be horrible if you don't have enough cash with you.


Banks control our funds and they hold or freeze the accounts sometimes without real or solid reasons. Also they apply high fees for the transactions. Using Bitcoin or altcoins is better to avoid similar problems.

A-fucking-men. Wells Fargo is my bank. From inexplicable fees, to transactions that provision in the worst possible order (they love holding transactions to cause overdrafts). These guys live off the fees, it's their bread and butter, and it shows. Despite how high the fees are with BTC at the moment, at least they are clearly deliniated, rational, and honest. I'm paying a fee so some magical shit with numbers and blocks can combine with vitamins and enzymes into some kind of mixture that gets my transaction confirmed. I'm blissfully ignorant, I have no problem with that Wink 

But paying a fee because I didn't use my card enough times in a month? That's Some Bullshit.

My credit card is a bit more forgiving.... You don't have to pay the "membership fee" if you spend at least $3,700 annually.  Grin
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June 02, 2017, 05:46:03 PM
 #35

Banks control our funds and they hold or freeze the accounts sometimes without real or solid reasons. Also they apply high fees for the transactions. Using Bitcoin or altcoins is better to avoid similar problems.

A-fucking-men. Wells Fargo is my bank. From inexplicable fees, to transactions that provision in the worst possible order (they love holding transactions to cause overdrafts). These guys live off the fees, it's their bread and butter, and it shows. Despite how high the fees are with BTC at the moment, at least they are clearly deliniated, rational, and honest. I'm paying a fee so some magical shit with numbers and blocks can combine with vitamins and enzymes into some kind of mixture that gets my transaction confirmed. I'm blissfully ignorant, I have no problem with that Wink 

But paying a fee because I didn't use my card enough times in a month? That's Some Bullshit.
The entire fiat banking system lives off of taking money away from the average person and creating debt. One of the huge reasons why I look away from large banks and instead try to find smaller banks that, while less secure (depending on your definition), have far fewer fees and don't gouge you like a majority of other large banks do.
Might as well take a lot of your money out of banks completely and invest it in something that can actually generate some value. Not worth keeping it in something that just sucks money out of you.
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June 02, 2017, 05:55:07 PM
 #36

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

I know the feeling of being scared to report big gains because they think every single big transaction comes from drugs or scams. It's crazy. But that's how it works. Im also scared to cash out bitcoins because banks seem to hate bitcoins. Also I have lost data on trades I did on exchanges that are dead like cryptsy, so I have no idea how im supposed to report those bitcoins since I lost the data as the exchange was taken down.

I dont want to worry about this now since im not selling anytime soon.

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June 02, 2017, 06:30:22 PM
 #37

No problem in banks watching all I hold and spend but sometimes you need the feel of privacy in life and you want the government to not know your personal earnings and more than all these one thing that itches me is the tax system in our country.

We are asked to pay upto 80% tax which to be at least sounds insane ! I mean I am doing the hard work and the government takes the biggest piece of it ? Huh !

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June 02, 2017, 06:38:55 PM
 #38

I was born in the USSR and that time the yearly percent by credit was 1%. There is nothing to compare with today's percents. That's the thing I don't like the most. If I take a credit today I will have to pay like 20% yearly and if I put my money in the bank for safeness I will not even cover the inflation in my country! That's crazy.

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June 02, 2017, 08:04:12 PM
 #39

So i understand that you did have a bad experience with the banking system and if you really need money in fiat currency you still need their help and if you are suggesting anything i could understand,but what is the whole point of this thread,just to hear everyone's grievance.  Tongue For me i really do not like the charges they are deducting from my account and other than that i have to comply with everything because i am forced to have my bank account for a smooth business.
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June 02, 2017, 10:14:22 PM
 #40

Monopolies prevent innovation, progress and growth of civilization & society.

In countries like venezuela where the state has a monopoly & control over everything we can see how monopolism has a destructive effect on happiness, life and standard of living.

Banks having a monopoly over the exchange of currency is a bad idea for the same reasons governments monopolizing power and influence within a centralized format has typically been a bad precedent for civilization & society as a whole.

Decentralizing banks and allowing competition & free markets to improve services and currency exchange in ways that benefit everyone is a better alternative to banks monopolizing power in that industry.

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