Banks not responsive to their customers

[r32godzilla]

I read an article in which the concerned person says that the ICICI bank in India just held his 1,00,000 dollars if I'm not wrong for almost 21 days without releasing the funds.They have just delayed by asking him to provide proof of his link with the sender and other blah blah blah formalities.The user blames that the bank deliberately did used his funds for other purposes and had delayed in releasing him.He has said that he would dedicate himself for promoting bitcoin.

He says that "I really wished I could throw a punch on the banker's face".I feel that almost all the bankers deserve this punch.

Here is the link below.
"https://www.reddit.com/r/Bitcoin/comments/8ilzmu/this_is_why_bitcoin_should_be_the_only_global/

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[bigmelons25]

I don't concern myself with money that much these days. I'm more focused on health and more important things, I wouldn't get stressed out over this.  The money means nothing when we die.

[davis196]

Any big crypto exchange platform can f*** their customers the same way,asking for 1000 documents and verifications that the account owner is the actual owner of the crypto and he bought the crypto with his own money and bla bla.I`ve seen many users here compaining about the same stuff,but yhey were scammed by crypto trading platforms,not banks.

[Kakmakr]

Let's be fair towards the Banks for one moment. They do not want to follow all these KYC/AML regulations, because it is a burden on their admin and extra expenses to them. They are forced to follow these regulations or the governments will close their doors. Fortunately for us, Bitcoin is a decentralized network with no centralized authority that can be forced to do anything.

This is why governments is targeting exchanges and wallet providers and merchants for this now, because they are also centralized.  

[skaynet]

the bank is certain to soon be closed because it has a behavior that can menyewakn consumers. any action that can harm a person will of course lose confidence .... spirit

[Cryptoreflector_666]

I read an article in which the concerned person says that the ICICI bank in India just held his 1,00,000 dollars if I'm not wrong for almost 21 days without releasing the funds.They have just delayed by asking him to provide proof of his link with the sender and other blah blah blah formalities.The user blames that the bank deliberately did used his funds for other purposes and had delayed in releasing him.He has said that he would dedicate himself for promoting bitcoin.

He says that "I really wished I could throw a punch on the banker's face".I feel that almost all the bankers deserve this punch.

Here is the link below.
"https://www.reddit.com/r/Bitcoin/comments/8ilzmu/this_is_why_bitcoin_should_be_the_only_global/

It's not exactly the profession of banker, but in certain individuals to put it mildly not the most honest behavior. Unfortunately, in the field of cryptocurrencies and bitcoin there are similar characters - no one is protected from this. Actually because of the friends world model by Jacque fresco is still just a model.

[Cryptoreflector_666]

the bank is certain to soon be closed because it has a behavior that can menyewakn consumers. any action that can harm a person will of course lose confidence .... spirit

No, not necessarily. In Russia, just a huge number of similar examples of incorrect behavior of banks towards customers and nothing - still work successfully. The only question is to what extent the person would be interested in the Bank or directly guilty banker to incur some punishment.

[PinkFox]

It is not easy to prove, but situations when people are illegally using your money can occur in many situations where they have access to it. However I trust that major exchanges have mechanisms to avoid that and if there is a need - can prove that. Otherwise they would bring themselves to great danger.

[jasonhart]

The banks and related institutions sometimes block or delay the transaction. This is against the transaction rules. Strict measures should be taken to avoid this hassle of the customers. BTC

[kevinfox18]

Not every banks are concern about their customer also many of the banks like government banks are like tortoise & some private banks are less concern about their customer because of the employee of the bank think they will get salary that’s it but they are here for serving the customers where as bitcoin serve their customer and there is no issues about bitcoin becoin you are doing your trading and doing whatever you wants.

[reflectcrypto]

This is  really frustrating and i think he should take actions against the banker. It is no legal that some one is using your money illegally and besides it is really disgusting on the part of a bank to give such service to its users.BTCBTC

[koncz_tomi]

Oops...

[Golftech]

Actually banks needs to make certain investigations to follow government procedures, they need to address each information in order to make sure that the money is not related in any evil acts, from where am I money laundering is really a big crime so I do understand why banks needs to do some delayed, but in the otherhand it should only take 3days to process and verified your account if all the necessary documents already been provided.

[annasadia]

Just for this kind of issues people are getting interested to crypto industry. They will have not to wait and kill their valuable time for that kind of traditional hassles anymore.

[squatz1]

This could also be a problem with regulators within India, as I know in the United States something like this wouldn't be tolerated at all and the banks would be forced (by regulators) to give the people their money back (unless their was some sort of criminal investigation with the funds themsevles) Plus, it would probably go viral on social media and the bank would look bad if the person REALLY needed the money.

Some banks are able to get away with this, one piece is that they have such a stronghold on the country that they don't have to care and two because their regulators (or lack thereof) are doing nothing.

[Jaslinbor28]

i would love to punch on the banker's face. this people are low life creatures. these people dose not even have proper knowledge about cryptos. can't tolerate it

[samarabtc]

This is devastating! If the banks continuously do this kind of things, then will soon be closed. I think banks are considering crypto currency as their threat. As, the transactions are getting lessen with it. However, they should co-operate with the customers so that the customers don't get retained.

[jasydoggye]

Actually banks and financial institutions are centralized systems. They are controlled by different rules and regulations of the authorized institutions. So they need to follow formalities as per the regulations. This is commo0n in case of flat currency. Even if you want to draw you salary from the bank in that case you have follow different rules and procedures also. So it is not a big deal but the main thing is that you are getting the money which proves that bitcoin is not illegal. Hope that such problems will be solved very soon.

[magneto]

I read an article in which the concerned person says that the ICICI bank in India just held his 1,00,000 dollars if I'm not wrong for almost 21 days without releasing the funds.They have just delayed by asking him to provide proof of his link with the sender and other blah blah blah formalities.The user blames that the bank deliberately did used his funds for other purposes and had delayed in releasing him.He has said that he would dedicate himself for promoting bitcoin.

He says that "I really wished I could throw a punch on the banker's face".I feel that almost all the bankers deserve this punch.

Here is the link below.
"https://www.reddit.com/r/Bitcoin/comments/8ilzmu/this_is_why_bitcoin_should_be_the_only_global/

That's the ultimate problem with having a third party holding your funds. You are essentially handing over control to whatever you deposit with them, even though it technically still belongs to you, they can do anything with it if they even suspect any little thing without any proof. And you'll never be given a fair chance.

Bitcoin is completely different to that, it takes away the trust needed for a third party to hold your funds. Your bitcoin address is hence pretty much a perfectly trustless bank in itself.

Traditional banking systems are filled with stories like this, and you never see the inconveniences in BTC. As more people start to lean about this, adoption for Bitcoin will surely rise over the long run.

[Casmania]

Let's be fair towards the Banks for one moment. They do not want to follow all these KYC/AML regulations, because it is a burden on their admin and extra expenses to them. They are forced to follow these regulations or the governments will close their doors. Fortunately for us, Bitcoin is a decentralized network with no centralized authority that can be forced to do anything.

This is why governments is targeting exchanges and wallet providers and merchants for this now, because they are also centralized.  

Following regulations is one the reasons why bitcoin investments now isn't freely to enjoy for everyone, and basically it affects a lot of people who holds their funds using cryptocurrency.
Government regulations is not a fair thing for me with regards the freedom of depositors because the situations got worst in a long run, and I think the people were more hesitant to follow their useless paths. The authority has no power over decentralized currency, and the only strategy they had was with those trading sites that's why we can hear countries banning bitcoin due to those reasons.