What don't you like about Banks and Banks controlling your money

[flower1024]

When you put your money in the bank, the bank has the power to control your money, if he thinks you are doing suspicious things then your account can be frozen, so I dont have total control of my money when I put my money in the bank and every of my transaction is recorded, I dont feel too comfortable with my transaction movement keep being watched

Apart from all those points you mentioned another issue is even to withdraw your own money in some countries (India) started to add some fee for each withdrawal from ATM. Since we can't control these banks so they can change their policies any time according to their benefits.  These banks do a lot of business with our money and still, they want to charge for each withdrawal makes something is not correct the system.

[cram03]

Well some of the banks is not that trusted you know not all of em but there's sometimes you will invest or save your money in the banks and they just claim it and sometimes they just deduct some fee's on your balance better to bitcoin your money can gain profits then your money is in decentralized so that no one can know about you and your money.

[Faiyz]

Well some of the banks is not that trusted you know not all of em but there's sometimes you will invest or save your money in the banks and they just claim it and sometimes they just deduct some fee's on your balance better to bitcoin your money can gain profits then your money is in decentralized so that no one can know about you and your money.

My brother, who don't know btc or wallets are any connection to it and they dont know im in it, i think did find some struggles in banking sometimes. Either Banks or there bank internet website. So sometimes maybe we should try another company to handle your website. This is really unacceptable. He was encountering with a red face numerous times in front of service providers trying to do an eft on their systems and with some or other website problem and thus without success and he told the family that he tried to contact them and they sent him to the branch for problems they caused and then he would have to sit for 3 to 5 hours waiting in the branch to be served. Not one time, not two times ... a lot.

[noictib]

Here every people has own opinion about the bank system .Here I myself don't like system of the bank .
Since we have the surity that the bank in which we have deposited our money are safe , even if any person
Will steal the money of the bank then the government will give componsation for that loss .
So in this case  we have full security with our money .
But the system of charge is very bad at every stage they begging for the money .
ATM charge , SMS charge , service charge , account mantainance charge and also there should be a limited amount
Minimum balance otherwide your account will be closed so such types of things are making us more irrigating so
Here we would like Bitcoin money where we have no limit and only need to pay for the charge of transaction only .

[icecube45]

When you put your money in the bank, the bank has the power to control your money, if he thinks you are doing suspicious things then your account can be frozen, so I dont have total control of my money when I put my money in the bank and every of my transaction is recorded, I dont feel too comfortable with my transaction movement keep being watched

Yeah right, if we put all our money into the bank it means we must be willing if all our money is managed by the bank. We can not have full control over the money we have. There are also many administrative costs are quite expensive in my opinion, I do not like this because the money saved will continue to decrease.

[Xester]

When you put your money in the bank, the bank has the power to control your money, if he thinks you are doing suspicious things then your account can be frozen, so I dont have total control of my money when I put my money in the bank and every of my transaction is recorded, I dont feel too comfortable with my transaction movement keep being watched

Yeah right, if we put all our money into the bank it means we must be willing if all our money is managed by the bank. We can not have full control over the money we have. There are also many administrative costs are quite expensive in my opinion, I do not like this because the money saved will continue to decrease.

Yes correct.  It seems like our money is secured to them having advertisements that it is good to put our money in the bank and have these priviliges and that our money is safe but the truth is, they are the one who robbed us.  They loan our money on big interest but give us a little interest with tax.  It still nice to do some investing and have a mutual fund than putting money in the bank.

[PokerFace3]

Banks are acting like a dictator for our wealth. We work hard and we save money. But banks take any advantage they prefer over to my savings. This is the problems I do face with my banking system as per my country. The only better thing I can say about banking system is their loan facility and interest paying plans. But there are possible with bitcoins and interests are not bothered when we could make enough income for living.

I am sure bitcoin will end the dominance of our traditional banks and might lead us toward a revolutionary self-banking through decentralized concepts.

[moriskarlov]

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.

The same situation was in Ukraine few years ago. When some problems starts in countries economy, first of all government forbid to withdraw deposits from banks. Horrible situation. It`s my money, i count on them, who has the right to tell me what to do with my deposit? That`s why decentralized currencies is better and safer.

[bitcoinvestor]

Limitation status is disgusting. Banking can limit your CC or account so you can't withdraw your money. Let's talk a bank like. That is paypal. I had experience being limit. My account was limited so I can' do anything with my money. I can't shop, withdraw to cash. I had to clarify so that my account to stop the limit. And it is not entertaining work. It took me a lot of time.

[icecube45]

When you put your money in the bank, the bank has the power to control your money, if he thinks you are doing suspicious things then your account can be frozen, so I dont have total control of my money when I put my money in the bank and every of my transaction is recorded, I dont feel too comfortable with my transaction movement keep being watched

Yeah right, if we put all our money into the bank it means we must be willing if all our money is managed by the bank. We can not have full control over the money we have. There are also many administrative costs are quite expensive in my opinion, I do not like this because the money saved will continue to decrease.

Yes correct.  It seems like our money is secured to them having advertisements that it is good to put our money in the bank and have these priviliges and that our money is safe but the truth is, they are the one who robbed us.  They loan our money on big interest but give us a little interest with tax.  It still nice to do some investing and have a mutual fund than putting money in the bank.

That's right, the big interest that the bank offers is strangling people / customers who want to borrow money. For example if someone borrowed $ 100,000 it could be $ 109,000 or even doubled and this happened to some of my friends. I agree with you better to invest from the beginning rather than having to save money in the bank, the investment will grow the money well. But anyway this kind of banking system has existed for a long time and is inherent with society, although it is harmful but people keep doing because this maybe their need. I hope in the future this system will be replaced with a better one.

[matrix zion]

Well right now lots of exchanges are acting a bit like that...

Obviously I hate banks otherwise I wouldn't be in BTC
But the problem is that exchange platforms are applying the same rules to their customers!
Everyone is applying KYC policies... That's destroying the concept of crypto...

[wahb]

Well right now lots of exchanges are acting a bit like that...

Obviously I hate banks otherwise I wouldn't be in BTC
But the problem is that exchange platforms are applying the same rules to their customers!
Everyone is applying KYC policies... That's destroying the concept of crypto...

may be some exchanges have the same strategy bout, most of the exchanges are free from such thoughts. i think they are not applying such policy for example i am using yobit, who do not have any of such such policy. i personally feeling free while using youbit exchange for different activities. i can deposit and withdraw, i can also buy different crypto currencies so easily.

[NUFCrichard]

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

They can charge you to give you your own money. They can refuse to give you your own money. In a bank run they can be unable to give you your own money.  If you want to borrow, the rate is very high, whereas if you want to save you get nothing.

Those are the gripes I could think up off the top of my head, there are definitely more. Oh yeah, foreign currency exchange rates. In Germany, the clearing times for transfers can be 2 days too.  Lots of things not to like.

[iluvpie60]

The whole process of banking was useful for a time. When it was based on gold it was the best thing we had going. Gold is used in a lot of electronic parts and many people desired gold.

Now that isn't the case and we have banks basing their loans off of holding 10% total USD. So you deposit 1,000 in and they loan out 10,000. It creates more and more supply of money which in the end devalues our currency. It is all a scam. If everyone wanted to withdraw their money right now banks would fail.

[ocid]

If we choose deposits because there is a provision of the time taken when in the middle of our journey saving sometimes we need a sudden need but the money we save in the bank can not be taken.
Especially from the interest that we get from the bank is almost the same as the interest pieces each month.

[bravehearth0319]

I really don't like banks because they will use your savings to other forms of business.
Such as loaning or lend it to others with interest, but you cannot get any share  for it. Which means, you cannot control your own savings and worst before you withdraw your own money it needs lots of documentation
before you get it.

[Celsiuss]

I'm that person who does not care much about privacy. If the bank knows what I'm buying, what bills I pay, so what? What are they gonna do? Laugh at me? I don't care if they sell that information either.

The only thing I'm concerned about is if the bank goes bankrupt, then I'm screwed. Just as screwed if I put all my money into bitcoin, and the Bitcoin crashes.

[CuriousGeorge]

The bank didn t give me a privacy to control my money. The financial regulation make a partnership with the bank to monitoring the bank account of customers. So they are able to see all of transaction histroy. Just like intervention

[moviebuff777]

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

There is always some risk with banks and with fiat currencies in general. Also, most government currencies are inflationary and interest on a bank account may not keep up with inflation.

[megynacuna]

Well banks are too centralized that they limit access to my own money through long lists of policies which are intended to shield them up in order to invest my money for profit while I wait for a particular time before I can withdraw.