Iberia Bank hates Bitcoin

[Theb]

Iberia Bank in the US? Yeah, they must have a company policy against Bitcoin or something. I read something a while back on reddit saying he was contacted by the bank when he tried to link his coinbase account into it. It sucks, but if it's a company policy, then there's little you can really do about it. It might be part of their internal protocol to avoid money laundering since reputation is everything for banks these days. Just speak with your money and open an account elsewhere. At least they haven't had the chance to potentially block your Bitcoin transactions yet.

One thing to avoid in this kind of situation is by trying to trade your Cryptocurrency to Fiat currency via 3rd party sellers therefore the only thing they will see it bank to bank transfers which won't look suspicious for them. Having a company policy like this really sucks as they are only hindering themselves to have more money flowing in their system not unless the policy is required by their government I think they need to take a look and review about removing some kind of policy like this as their is no justifiable reason on blocking the deposits to coming to your account.

[gentlemand]

Even if the bank adored Bitcoin, in most places there's still little or no regulatory certainty. If there's one thing banks really do despise it's being tangled up in compliance, even more so when they don't know how to comply.

There's little or no money in it and a whole world of ball ache.

[Kronos21]

Iberia Bank in the US? Yeah, they must have a company policy against Bitcoin or something. I read something a while back on reddit saying he was contacted by the bank when he tried to link his coinbase account into it. It sucks, but if it's a company policy, then there's little you can really do about it. It might be part of their internal protocol to avoid money laundering since reputation is everything for banks these days. Just speak with your money and open an account elsewhere. At least they haven't had the chance to potentially block your Bitcoin transactions yet.

One thing to avoid in this kind of situation is by trying to trade your Cryptocurrency to Fiat currency via 3rd party sellers therefore the only thing they will see it bank to bank transfers which won't look suspicious for them. Having a company policy like this really sucks as they are only hindering themselves to have more money flowing in their system not unless the policy is required by their government I think they need to take a look and review about removing some kind of policy like this as their is no justifiable reason on blocking the deposits to coming to your account.

Maybe I'm wrong but my opinion is that it is necessary to avoid the exchange of bitcoins for Fiat. You need to remember that bitcoin was conceived as a self-sufficient currency. Now we need to focus on creating conditions for organization of trading with bitcoins. This will help us to avoid many problems in the future.

[bambazamba]

Went to open a business checking account for a personal investment company.  Agent asks purpose of the entity.  Said one of the intents to invest in bitcoin and other digital currencies.  Bank rejected account application stating not wanting to be associated with bitcoin, etc.  Shame.

This is not a very shocking thing i heard . This is very much expected from the banks . Not only the Iberia Bank , there are many banks throughout the world who don't want to get involved into bitcoin . If you go for some withdraw or something they won't even investigate the source of money . they would just nullify the subject after hearing the word "bitcoin" . They are obviously very narrow-minded in the case of bitcoin . Main reason is that they don't want to start initializing the exchanges of bitcoin because that can be a threat for them later on.                                                             

[Samarkand]

...
This is not a very shocking thing i heard . This is very much expected from the banks . Not only the Iberia Bank , there are many banks throughout the world who don't want to get involved into bitcoin . If you go for some withdraw or something they won't even investigate the source of money . they would just nullify the subject after hearing the word "bitcoin" . They are obviously very narrow-minded in the case of bitcoin . Main reason is that they don't want to start initializing the exchanges of bitcoin because that can be a threat for them later on.                                                            

I can 100 % confirm the accuracy of that statement.

I tried to make a small fiat withdrawal from my verified Bitstamp account this week and it was rejected with the following message:
"Commerzbank does not process bank transfers that originate from bitcoin related businesses. This means that any transfer sent to your bank would be rejected and returned to Bitstamp."

If you haven´t heard of Commerzbank, it is basically one of the biggest banks in Germany. Interestingly, they had to be bailed out by the state during the financial
crisis. I really think that there can hardly be a better reason to get your hands on some Bitcoin than your local bank being so scared of its disruptive
nature.

[longlivecapitalism]

Banks should hate Bitcoin and other cryptocurrencies because it's something the cannot control. This is also the reason governments hate Bitcoin and want to ban it in many countries. I think it will come to a point where they'll be in a "if you can't beat them, join them" situation.

[sindikat]

...
This is not a very shocking thing i heard . This is very much expected from the banks . Not only the Iberia Bank , there are many banks throughout the world who don't want to get involved into bitcoin . If you go for some withdraw or something they won't even investigate the source of money . they would just nullify the subject after hearing the word "bitcoin" . They are obviously very narrow-minded in the case of bitcoin . Main reason is that they don't want to start initializing the exchanges of bitcoin because that can be a threat for them later on.                                                            

I can 100 % confirm the accuracy of that statement.

I tried to make a small fiat withdrawal from my verified Bitstamp account this week and it was rejected with the following message:
"Commerzbank does not process bank transfers that originate from bitcoin related businesses. This means that any transfer sent to your bank would be rejected and returned to Bitstamp."

If you haven´t heard of Commerzbank, it is basically one of the biggest banks in Germany. Interestingly, they had to be bailed out by the state during the financial
crisis. I really think that there can hardly be a better reason to get your hands on some Bitcoin than your local bank being so scared of its disruptive
nature.

In this statement the essence of all the infamous banks. They are not interested in what purposes you will use bitcoin. They are afraid of it in principle. Bitcoin allows the holder not to give the Bank their savings and receive income from the constant growth of prices. This income is much more than to offer any Bank.