List of Bitcoin Hostile (and friendly) Banks

[deeplink]

In terms of the US: many banks are hostile to bitcoin due to operation Choke Point.

I would not be surprised if other countries have been pressured to institute similar programs.

care to elaborate on Choke Point?  Is that a real thing?  Who's running it?

https://en.wikipedia.org/wiki/Operation_Choke_Point

That is pretty absurd never knew about this until today or that some banks consider btc a "questionable" business.

Welcome to fascism 2.0

[kjlimo]

In terms of the US: many banks are hostile to bitcoin due to operation Choke Point.

I would not be surprised if other countries have been pressured to institute similar programs.

care to elaborate on Choke Point?  Is that a real thing?  Who's running it?

https://en.wikipedia.org/wiki/Operation_Choke_Point

That is pretty absurd never knew about this until today or that some banks consider btc a "questionable" business.

Welcome to fascism 2.0

To be fair, the legal teams are just trying to deal with the rules they have to follow.

Fight the regulators, not the banks who are stuck in the middle...

[deeplink]

In terms of the US: many banks are hostile to bitcoin due to operation Choke Point.

I would not be surprised if other countries have been pressured to institute similar programs.

care to elaborate on Choke Point?  Is that a real thing?  Who's running it?

https://en.wikipedia.org/wiki/Operation_Choke_Point

That is pretty absurd never knew about this until today or that some banks consider btc a "questionable" business.

Welcome to fascism 2.0

To be fair, the legal teams are just trying to deal with the rules they have to follow.

Fight the regulators, not the banks who are stuck in the middle...

It doesn't matter who is to blame.

Fascism by definition is strong autocratic control. Most people won't fight it until it is too late.

First they came for the Socialists, and I did not speak out—
Because I was not a Socialist.
Then they came for the Trade Unionists, and I did not speak out—
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out—
Because I was not a Jew.
Then they came for me—and there was no one left to speak for me.

[phillipsjk]

Lloyds Bank in the UK appears to be bitcoin hostile.

One of the commenters mentioned that Metrobank is also Bitcoin (and Adult industry) hostile.

5flags, who also had their Lloyds accounts closed, recommended HSBC.

Guido recommended Nationwide, but it is not clear that person disclosed Bitcoin-related activity. Guido advises against RBS and  Barclays over general scandal, rather than specific Bitcoin hostility

[Harley997]

In terms of the US: many banks are hostile to bitcoin due to operation Choke Point.

I would not be surprised if other countries have been pressured to institute similar programs.

care to elaborate on Choke Point?  Is that a real thing?  Who's running it?

https://en.wikipedia.org/wiki/Operation_Choke_Point

That is pretty absurd never knew about this until today or that some banks consider btc a "questionable" business.

Is it not that banks consider Bitcoin "questionable" it is that the government considers it "questionable" and banks can face stiff regulatory penalties if the government does not agree with what they do, even if what they do is legal.

Although the S&P is not a bank, they are facing a lawsuit for misleading the public about the safety of MBS, they are the only of the three credit agencies that are facing a lawsuit of this type even though all three gave the same general opinon however they were also the only credit ratings agency that downgraded the US government debt rating.

[altsay]

First they came for the Socialists, and I did not speak out—
Because I was not a Socialist.
Then they came for the Trade Unionists, and I did not speak out—
Because I was not a Trade Unionist.
Then they came for the Jews, and I did not speak out—
Because I was not a Jew.
Then they came for me—and there was no one left to speak for me.

Then who the hell are you?

[hayzoos]

ally does not accept bitcoin related transactions per customer rep on chat. No official policy is posted. Rep was not aware of bitcoin. Rep had to check after I explained. I am glad I am researching this before I take the plunge. Last thing I need is assets frozen unexpectedly.

[freedomno1]

Adding a new case from Chase Bank to the list
https://bitcointalk.org/index.php?topic=684079.msg7760483#msg7760483

I'm 22 and I do local BTC transactions on the side.

"I hate to say this, but it's best that you cooperate"

"Times have changed, to be honest with you, after 9/11 you have to disclose everything"

-Chase Manager

[benjamindees]

Wells Fargo seems to be maintaining a good public reputation towards Bitcoin users, but I just found out that this may not be accurate:

http://www.reddit.com/r/Bitcoin/comments/2b1tf1/wells_fargo_blocking_merchant_accounts_for/

And, in researching the matter, I ran across this comment:

I talked to Wells Fargo and they told me if they find out in the back office that the account is doing Bitcoin business with exchanges that they will close the account.

http://www.reddit.com/r/Bitcoin/comments/22pfts/psa_wells_fargo_and_bitcoin_transactions/cgp3ahd

[halfawake]

I just read an article in the Wall Street Journal that the Silicon Valley Bank supports Bitcoin based businesses, though it does say that it vets them very carefully.  So the OP can add them to the pro-bitcoin United States section.

[Teodor]

I have a client who wants to pay in Bitcoin & Bitleu currency a contract of 500 million euro value, but it is hard to transfer money because they are now in the investment Deutsche Bank in Germany... Must move them to a commercial bank accepted by DB, and then to an exchange for buying Bitcoin and Bitleu. If everything works well will let you know.
However, we are still looking for a Bitcoin friendly bank in Europe... do you know any?
Thanks!
 

[hdbuck]

I have a client who wants to pay in Bitcoin & Bitleu currency a contract of 500 million euro value, but it is hard to transfer money because they are now in the investment Deutsche Bank in Germany... Must move them to a commercial bank accepted by DB, and then to an exchange for buying Bitcoin and Bitleu. If everything works well will let you know.
However, we are still looking for a Bitcoin friendly bank in Europe... do you know any?
Thanks!
 

lol wutt?!

[murraypaul]

I have a client who wants to pay in Bitcoin & Bitleu currency a contract of 500 million euro value, but it is hard to transfer money because they are now in the investment Deutsche Bank in Germany... Must move them to a commercial bank accepted by DB, and then to an exchange for buying Bitcoin and Bitleu. If everything works well will let you know.
However, we are still looking for a Bitcoin friendly bank in Europe... do you know any?

Current Bitcoin market cap is ~5 billion Euro, so you would be looking to move almost 10% of the total Bitcoins in circulation.
There is simply no way you can acquire that many on exchanges without massively moving the price.
Bitcoin is simply not ready for transactions of that magnitude yet.

[hdbuck]

I have a client who wants to pay in Bitcoin & Bitleu currency a contract of 500 million euro value, but it is hard to transfer money because they are now in the investment Deutsche Bank in Germany... Must move them to a commercial bank accepted by DB, and then to an exchange for buying Bitcoin and Bitleu. If everything works well will let you know.
However, we are still looking for a Bitcoin friendly bank in Europe... do you know any?

Current Bitcoin market cap is ~5 billion Euro, so you would be looking to move almost 10% of the total Bitcoins in circulation.
There is simply no way you can acquire that many on exchanges without massively moving the price.
Bitcoin is simply not ready for transactions of that magnitude yet.

bitcoin is ready. banks arent..

[murraypaul]

I have a client who wants to pay in Bitcoin & Bitleu currency a contract of 500 million euro value, but it is hard to transfer money because they are now in the investment Deutsche Bank in Germany... Must move them to a commercial bank accepted by DB, and then to an exchange for buying Bitcoin and Bitleu. If everything works well will let you know.
However, we are still looking for a Bitcoin friendly bank in Europe... do you know any?

Current Bitcoin market cap is ~5 billion Euro, so you would be looking to move almost 10% of the total Bitcoins in circulation.
There is simply no way you can acquire that many on exchanges without massively moving the price.
Bitcoin is simply not ready for transactions of that magnitude yet.

bitcoin is ready. banks arent..

Bitcoin's market cap is too small, by several orders of magnitude, to be able to transfer this value without seriously distorting the market.
There is simply no way to buy that many Bitcoins at anything resembling a sensible price, and trying to sell them would crash the price to almost nothing.

[furlong]

How can I know if my local bank will not fuck me up if I try to cash out?

[itsAj]

I have a client who wants to pay in Bitcoin & Bitleu currency a contract of 500 million euro value, but it is hard to transfer money because they are now in the investment Deutsche Bank in Germany... Must move them to a commercial bank accepted by DB, and then to an exchange for buying Bitcoin and Bitleu. If everything works well will let you know.
However, we are still looking for a Bitcoin friendly bank in Europe... do you know any?

Current Bitcoin market cap is ~5 billion Euro, so you would be looking to move almost 10% of the total Bitcoins in circulation.
There is simply no way you can acquire that many on exchanges without massively moving the price.
Bitcoin is simply not ready for transactions of that magnitude yet.

bitcoin is ready. banks arent..

Bitcoin's market cap is too small, by several orders of magnitude, to be able to transfer this value without seriously distorting the market.
There is simply no way to buy that many Bitcoins at anything resembling a sensible price, and trying to sell them would crash the price to almost nothing.

I agree. If someone were to try to buy this much bitcoin at one time they would cause the price to run up significantly and the opposite would happen when the position would be closed. As of right now bitcoin is really not very efficient at very large money transfers because it's market cap and liquidity is not sufficiently large.

[hdbuck]

I have a client who wants to pay in Bitcoin & Bitleu currency a contract of 500 million euro value, but it is hard to transfer money because they are now in the investment Deutsche Bank in Germany... Must move them to a commercial bank accepted by DB, and then to an exchange for buying Bitcoin and Bitleu. If everything works well will let you know.
However, we are still looking for a Bitcoin friendly bank in Europe... do you know any?

Current Bitcoin market cap is ~5 billion Euro, so you would be looking to move almost 10% of the total Bitcoins in circulation.
There is simply no way you can acquire that many on exchanges without massively moving the price.
Bitcoin is simply not ready for transactions of that magnitude yet.

bitcoin is ready. banks arent..

Bitcoin's market cap is too small, by several orders of magnitude, to be able to transfer this value without seriously distorting the market.
There is simply no way to buy that many Bitcoins at anything resembling a sensible price, and trying to sell them would crash the price to almost nothing.

I agree. If someone were to try to buy this much bitcoin at one time they would cause the price to run up significantly and the opposite would happen when the position would be closed. As of right now bitcoin is really not very efficient at very large money transfers because it's market cap and liquidity is not sufficiently large.

I call BS. Bitcoin is more than ready to capture all the wealth in the world. I dont care if there is liquidity or not, i dont care about its market cap, it will skyrocket alongside with btc price. The sooner the better.

[murraypaul]

I have a client who wants to pay in Bitcoin & Bitleu currency a contract of 500 million euro value, but it is hard to transfer money because they are now in the investment Deutsche Bank in Germany... Must move them to a commercial bank accepted by DB, and then to an exchange for buying Bitcoin and Bitleu. If everything works well will let you know.
However, we are still looking for a Bitcoin friendly bank in Europe... do you know any?

Current Bitcoin market cap is ~5 billion Euro, so you would be looking to move almost 10% of the total Bitcoins in circulation.
There is simply no way you can acquire that many on exchanges without massively moving the price.
Bitcoin is simply not ready for transactions of that magnitude yet.

bitcoin is ready. banks arent..

Bitcoin's market cap is too small, by several orders of magnitude, to be able to transfer this value without seriously distorting the market.
There is simply no way to buy that many Bitcoins at anything resembling a sensible price, and trying to sell them would crash the price to almost nothing.

I agree. If someone were to try to buy this much bitcoin at one time they would cause the price to run up significantly and the opposite would happen when the position would be closed. As of right now bitcoin is really not very efficient at very large money transfers because it's market cap and liquidity is not sufficiently large.

I call BS. Bitcoin is more than ready to capture all the wealth in the world. I dont care if there is liquidity or not, i dont care about its market cap, it will skyrocket alongside with btc price. The sooner the better.

So you don't really understand anything that has been said, but know that Bitcoin Is Great, Go Bitcoin!!!
Not particularly useful to the original poster.

[hdbuck]

I have a client who wants to pay in Bitcoin & Bitleu currency a contract of 500 million euro value, but it is hard to transfer money because they are now in the investment Deutsche Bank in Germany... Must move them to a commercial bank accepted by DB, and then to an exchange for buying Bitcoin and Bitleu. If everything works well will let you know.
However, we are still looking for a Bitcoin friendly bank in Europe... do you know any?

Current Bitcoin market cap is ~5 billion Euro, so you would be looking to move almost 10% of the total Bitcoins in circulation.
There is simply no way you can acquire that many on exchanges without massively moving the price.
Bitcoin is simply not ready for transactions of that magnitude yet.

bitcoin is ready. banks arent..

Bitcoin's market cap is too small, by several orders of magnitude, to be able to transfer this value without seriously distorting the market.
There is simply no way to buy that many Bitcoins at anything resembling a sensible price, and trying to sell them would crash the price to almost nothing.

I agree. If someone were to try to buy this much bitcoin at one time they would cause the price to run up significantly and the opposite would happen when the position would be closed. As of right now bitcoin is really not very efficient at very large money transfers because it's market cap and liquidity is not sufficiently large.

I call BS. Bitcoin is more than ready to capture all the wealth in the world. I dont care if there is liquidity or not, i dont care about its market cap, it will skyrocket alongside with btc price. The sooner the better.

So you don't really understand anything that has been said, but know that Bitcoin Is Great, Go Bitcoin!!!
Not particularly useful to the original poster.

Rofl i do understand perfectly what has been said. Its you who dont understand that caring about banks et al is pointless. They will do anything to refrain bitcoin's capital leakage. Yet it is nonetheless inevitable. The more we wait for rules and acknowledgment, the less we will benefit from bitcoins technology. Why this urge to empowering them even more? Just Stop using banks. Its time we make our own choices and build our own future far far away from this corrupted system. So by ANY means: Buy buy buy.