Why I hate Banks and love Bitcoin :->

[Kakmakr]

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.

I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!

8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again. <still Nothing>

A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished. 

If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service. 

[Astvile]

This is why bitcoin would help us alot if just the government will adopt it as payment method for every available services.
Bank and wire transfers takes 1-3 days of processing and when the transaction is done you still need to wait for few hours for the service the back lol.While in bitcoin the longest time you need to wait for a transaction to be confirmed is just about an hour.

[CryptoBry]

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing. I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot! 8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again. <still Nothing>
A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished.  If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service. 

I find your story encouraging and I am hoping that soon more and more will have the same experience so we can realize the beauty, advantages and benefits in using bitcoin instead of the usual banking system. Though I am not believing that we should do away with banks, I think that people should be including bitcoin as one of the most viable options...this message goes to many merchants as well to start thinking how they can incorporate bitcoin into their ecosystem.

[Kakmakr]

A lot of people would have said, "Use your credit card" because it would have been much faster, but I prefer not to use credit cards to pay for things, because I hate adding to the debt problems of this country.

I also did not anticipate that it would take this long, because I pay this before the payment date every month and my viewing has never been blocked before.

The problem is, Bank transfers between different Banks sometimes takes between 12 to 48 hours and in todays world, this is unacceptable.  

[Ailmand]

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.

I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!

8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again. <still Nothing>

A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished. 

If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service. 

This is so true, some transactions if made via bank would take a few hours or sometimes days before it reaches or finishes the transaction. Unlike if you will pay via bitcoin, you would be able to cut banking fees or unnecessary delays. The convenience of taking awayt hird party involvement in transactions made it faster and cheaper.

[XinXan]

Use paypal or credit card, also bitcoin could have taken way longer than 20 minutes, sometimes it takes hours too so your example is pretty shitty if you want to make banks look worse than bitcoin. You had several options for instant payment, its your fault for refusing to use them, not the bank.

[Accounting87]

This story surprises me because normally debit card and credit card payments take the same time to process. Or it wasn't a debit card but a bank payment or smth?

[bering]

In this case i personally not prefer to use credit cards to boost speed of transactions because in my country if use credit card regularly then monthly fees will be pretty expensive so i prefer to banks transfers which is the common problem from transfer different banks will took time longer however indeed bitcoin can solved this issue because transactions will made less than hour but unfortunately banks especially government cannot let bitcoin involved in this part

[Genemind]

That's the advantage of having crypto over banks. We could pay and receive payments instantly. I used to make transactions with banks before and it takes about 3-5 business days and it's really a waste of time. Since I had bitcoin, money transactions are easier as well as payments.

[phamminhtan]

Your story makes me more confident about bitcoin, and is eager to experience bitcoin payment services as soon as possible.

[acroman08]

Yes, I know the frustration! I once experienced my internet being cut for not paying in time
which I did the day before the cut off. it took my bank a day and a half to send my payment
to the internet company which resulted my internet being cut. It's frustrating that these things
happen but all I can do is try to understand.

[darklus123]

This is really the kind of problem that I wanted Bitcoin to solved. When the bitcoin process before is too fast and cheap we can easily solve this problem however the problem before was that bitcoin is not yet that recognized.

Now that bitcoin gain popularity  there are still some companies who don't accept it. We can't still blame them tho because of its volatility that can hurt the company's funds. I think this is where a stable coin can be a good substitute. You will be sending your bitcoin to the stablecoin and use the stable coin to pay directly to the provider.

[dentolas]

This is one of those great examples that could very well be turned into a TV comercial for BTC  
Banks will have to adapt (they are already doing it) if they want to survive... but BTC will also have to run as there are some alts that are already offering better use case (not mentioning store of value, where BTC is still the undisputed king)
Can't wait for crypto to spread out everywhere, these days of being bank slaves are ending  

[BL46K 7193R]

Yes, Bitcoin is a lot better than the banking system. I have heard that you have got the bride to deal with Bitcoin. The government has to expand it further. If it does, then there will be no problem with anyone who It seems to me that Bitcoin is very effective and useful from the banking system.

[xvids]

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.

I immediately logged into my internet Banking and checked my payment history and realized that I skipped that payment for some reason, so I made the payment and thought I would wait for a hour or two and then resume viewing. Noooot!

8 HOURS passed, I phoned the company and they informed me that the payment is not reflected on their system yet, so I waited another 4 hours and phoned them again. <still Nothing>

A whole 21 hours later the payment went through and I could continue viewing, but the match I wanted to see was finished. 

If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service. 

Yes for sure the payment would be sent much more faster ,
If only they would see it that way blockchain could help a lot .
It could really change the future for better if only they would accept it and start learning about it.

[squatter]

My cable provider (AT&T) actually does accept Bitcoin now. I noticed the "Bitpay" option when I paid my bill last week. I wouldn't have imagined that in my wildest dreams 5 years ago!

[stompix]

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.

Monthly direct debit services, 0 fees.

If I paid with Bitcoin, this same payment would have taken less than 20 minutes at most, but unfortunately this Satelite provider does not accept Bitcoin payment for this service.  

If your cricket match would have been in January last year you could have bought a yearly subscription just with the fee you were paying to get included in the next block.

A lot of people would have said, "Use your credit card" because it would have been much faster, but I prefer not to use credit cards to pay for things, because I hate adding to the debt problems of this country.

Oh, so you don't like the fast and free solution, you chose the worst one and then you blame the banks.
Sorry but this zealotism at its worse.

Like a guy with a sprain leg, he avoids calling the ambulance, limps alone for 10 miles to the hospital and then he is angry at the doctor his foot is actually broken now.

[MakeMoneyBtc]

Another important factor of banks is that most of them don't complete transactions during weekends unless you are willing to pay a high fee for that. So think if this would have happened to you on a Friday night and your bank just stopped the transfer because of the weekend. AT&T has started accepting bitcoin,so if it's available in your country you might want to switch to that and pay your bill with using bitcoin every month.

[PDAngel]

This is one of the reason why people need bitcoin in this world, I really don't understand the government rules sometimes i wonder if they really want to help or not!. Allowing bitcoin as a payment for any services is no hassle i hope they will realize how useful bitcoin for everyone.

[MonsterV]

First, I understand you are very angry because you lost a TV program that you like. Payment of the TV bill should be fast if the TV service company makes an auto confirmation system like e-commerce. Yes I understand that the blockchain is able to realize it all, with fast confirmation and no long waits.

In my opinion this is the fault of the TV service company, they should use auto payment confirmation instead of using manual confirmation. Indeed bitcoin is the right way to realize this, but it can't do much because there is still a lack of knowledge about the benefits of bitcoin.

I pay for my monthly satellite TV subscription with a bank transfer and for some obscure reason I forgot to pay it this month. I was still watching the World cup Cricket tournament, when a message popped up, saying that my account was in the arrears and they blocked my viewing.

Monthly direct debit services, 0 fees.

yup, in my opinion this is the right way out now, I also use the monthly auto debit service provided by the bank