Problems with banks you have faced

[margueritabarrutti]

International transfers are delayed. Plus charges are really huge.

[Screamshot]

I have experience alot of hassles from performing transactions with bank ranging from the high cost of fee, submitting so many personal detail but the one I very much dislike is the slow time before a transcation can go through especially when it's to another country

[bagsat]

Banks have minimum balance which you have to consider and if you fail to do so it will cost you charges. Also banks have hidden charges.

[npiappes]

High transaction fee especially international transactions.

[DigitalCyberius]

When people talk about the benefits of bitcoin over Fiat money, one of the biggest advantages is that bitcoin is more secure and the bank has not control over your money. Generally, people talk about the lack of 3rd party.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.

Well, not necessarily more secure, with hacks, etc. And can't forget about the volatility factor. However, after moving overseas, and losing access to my online banking, I found (for my particular bank) a very difficult time trying to get into my account other than by phone (which also had its own difficulties, and I never did attempt it). Reliable cryptocurrencies, and a wallet with p2p features for trading and transferring may have made life easier. But I personally wouldn't be putting all my money in it.

Have a great day,
The Cyberius team

[acholagi]

cryptocurrency is simpler than a bank, and also when we want to send money using services from a bank, we will be charged a very large fee such as the cost of converting money, shipping costs, tax fees and other pieces
different when we send money using cryptocurrency, it's cheaper and the money sent is also sent faster

[Siren]

When people talk about the benefits of bitcoin over Fiat money, one of the biggest advantages is that bitcoin is more secure and the bank has not control over your money. Generally, people talk about the lack of 3rd party.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.

If we will only look for he problems and trouble banks  has given. To me then there are lots of issues i may put here,but lets talk about the profit they can give in which a shit amount for our huge money that they are using for the term we had vested this unto them.i hate seeing 2-4% per annum while cryptocurrency can offer me alot and much better

[Ezenwanyi1]

I have faced the challenge of having to wait for days to get the bank to effect the change of my signature .....it was friustrating because I needed cash urgently that period to tidy some personal financial crisis .
Reason I prefer cryptocurrency over banks ,cause I can lay hold of my funds anywhere, anytime as I deem fit.

[jpnl0006]

Lots of crazy stuffs i do face with the bank which i can not experience on crypto-currency i get alerts of transactions i did not make useless charges on debit card for maintenance purposes its get on my nerves so much

[allthingsluxury]

Bank by and large are incredibly corrupt and evil.

[jatin729]

We have seen that banking industry has grown tremendously but there are too many loopholes in thr system because of centralised system.
1.  Fraud and scams.
2.  Liquidation in the bank
3.  Lots of paper work while we borrow loan.
In banking industry even after digitalisation some probelm has fixed but new problem creates i.e. Lack of knowledge about digital banking in remote areas and more chance of getting theft online by phishing attack.

[kram31]

banks need 2 valid ID and all of your information just to have an account to them.
You need to have the minimum amount on your account as always and you can't touch or withdraw it as you will have penalty which is 10 percent of the minimum.
You can't withdraw more than a certain amount per day on hteir ATM, and if you will go to bank to do it you can't in weekends.

[burky155]

I am working with the several banks in my country and the foreign countries as well in last 25 years for my business. I tried to calculate now but i couldn't right now. I believe that i have paid more than $70.000 with all my foreign and domestic transactions to banks. 25 years is quite long time but 70k is also very large number.. If there were bitcoin i may pay just like $50 or $100 at max..

[jake zyrus]

One of the problems i faced with the banks in the past is their selective approval of application. Not that it happened to me, but i was with a friend when his application for a bank account was denied simply because he is relatively new in his area of residency. And i really think it is absurd. And that's where bitcoin leverages, being permissionless, surely, no one will deny a person wanting to have a bitcoin wallet.

That's true there is lot's of requirements in bank, and also an interview before you get approved to open an account and even you have complete requirements it's denied you, but in bitcoin you never denied your always welcome there if you want to join.

[wow.magic]

My issue with them is that even while you are not in the bank but has been registered with a particular bank, they still deduct money which they call charges etc but cryptocurrency is not like that as we know.

I agree with you even same bank name but in other branch you make transaction the charges the take from you it is big amount, for me it is not fair cause your in a same bank only the different you are make transaction in there branch. In cryptocurrency the charges it is not big like in bank.

[Sexie]

When people talk about the benefits of bitcoin over Fiat money, one of the biggest advantages is that bitcoin is more secure and the bank has not control over your money. Generally, people talk about the lack of 3rd party.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.

Some problems  with bank transactios we encountered  was the waiting for your name to be called by the teller to process your papers , waiting for  your line and  it takes  time to finish such transaction. It tskes also how many days  for you to recieve somethinng from your sender. It is  also very far away  from using bitcoin. It just  takes only few minutes for both parties to finish such transaction.

[bagsat]

Having an account in a bank is good for the benifits of investment is concern. Though there are some issues you will encountering specially when you dont study well on how the banks terms and conditions. One of the problem would be hidden charges and minimum amount depend on your account.

[FlightyPouch]

High transaction fee especially international transactions.

Well, you can't blame them, that is an international transaction. We don't need to compare Bitcoin and the banks transaction there since even if you transact Bitcoin locally, you still have to pay a transaction fee unlike bank transactions. The only problem I see with the banks is the limitations you can put in their saving account. It is not that I earn a lot of money but in Bitcoin, you have a lot of Bitcoin but still, no onw knows..

[Schirer]

I have had ridiculous problems with banking , one of them is when bank has asked my explanation for 3$ transactions from my friend, this is just plain stupid. Blockchian gives us more freedom.

[killat]

 Anks don't like or don't understand what Bitcoin is and how it works. I heard stories that people got their bank accounts closed after having widthrown funds from exchanges. The easiest way to change your Btc to Fiat is using Localbitcoin.