Here are the Top 5 Reasons of Why I Hate Banks.

[elevates]

We as a community are aware & frustrated with the way Banks conduct business. But, what makes them so worst is listed below in these 5 points. As a community member, you might relate to it and would be frustrated about it, since I am from the day I opened my account with them. BTW, We cannot tolerate them but we still need them as they control all necessities to make us happy.

1. They think they are Superior

This is quite common that their staff treat us as shit most of the time. As most of them think we are poor and are asking for some money to lend us. No matter what we are looking for as everything depends on our account number.

2. Bank Holidays

The network is so glitched or congested that we cannot ask for the money we were expecting to be in our account and the same happens when someone requested money from us. Furthermore, it takes 3 days or some time more to get your own money.

3. Charges or Fees

The amount of charges these banks apply for a simple transaction, issuing a debit/ credit card, deposit fee, and more is unsubstantial. I mean who would think a fee of $10 when you transfer $200( I just quoted an example)?

4. Holidays

Just imagine you are in a medical situation and you want a family member to transfer some money ( as you do not have any other option) but since it is a bank holiday, the money gets stuck within the network for 3 to 7 days resulting in delays and escalated bills.

5. Government Control

Currency devaluation has been occurring since the COVID-19 pandemic in most countries. Just imagine you went on your holiday and suddenly your budget increased due to devaluation.

The booking amount is now less than what you booked for and the holiday packer is asking for more. I do not think it happens but what about food prices getting higher than expected and it destroys your calculated monthly/weekly expenditure

I hope you realize the benefits that Bitcoin can give you in such a scenario. Although LN is still in the early stages it can seriously disrupt banking infrastructure.

[Dunamisx]

Banks also works in hand with third party authorities to reveal your identity that can be used against you in life, they do so by tracking every of your steps and achievements you get into by monitoring you, many think their introduction of KYC and AML is to their own benefit but i can assure you that it's not, they only work on it to get the user hypnotized by their surveillance, then the control and authority they have over your finances has been taken away since the introduction of a digital decentralized currency bitcoin, you can monitor your financial asset all by yourself and choose what fee rate you will be charge before performing a transaction, the type of wallet to use, and no any central authorities can have dominion over your finance in bitcoin unlike the banks.

[mk4]

And worst of all — good lord most of online banking apps sucks crap(at least in the country I'm currently in) despite the amount of money they're making, like these apps are stuck in 2014 or something.

[elevates]

And worst of all — good lord most of online banking apps sucks crap(at least in the country I'm currently in) despite the amount of money they're making, like these apps are stuck in 2014 or something.

Absolutely true as we need to follow all their protocols such as login security, and transaction security and still we get our account hacked. I have know idea how it happens but sometimes I think the bank did it. lol!

I am sure many here would agree! but how many of you think in the same manner? just quote and reply if you agree!

[stompix]

We as a community are aware & frustrated with the way Banks conduct business. But, what makes them so worst is listed below in these 5 points.

Actually, 3 of them are flawed since they depend on where you live.

Interbank transfers here are instant during the weekdays and take 6 hours till clearing during the weekend, I have no card fees, no ATM withdrawals fees, and no fees for sending money to another national bank, all I pay is 1E a month for a few more features in the app (like sms alerts on top of push notifications), it used to be 2E for just the app now the basic version is free with the account as long as you wire your wage to it.

For the "superiority,"  that's not the bank's fault, it's not the bank who is talking to you like that, it's the people,  and do please tell me if your childhood friend will go work in a bank and you arrive at the desk, who's fault would be if he treats you like garbage? The bank? Do you have friends that now work in banks? Are they all like that?

You actually missed the most important thing of all, the worst thing about banks is that aside the state insurance fund you have no guarantee you could access those funds at all, also fact that they can freeze your account, they can restrict it, and can even have clerks stealing from your account by falsifying your documents.

In my opinion, those are far worse than the attitude of a customer service person.

[hatshepsut93]

Actually, 3 of them are flawed since they depend on where you live.

Where I live the most popular banks are available 24/7 via website or app, and you can do there all or nearly all operations that way. I don't remember the last time I went to a bank office, because I do things like updating my personal documents online too. Issues arise very rarely and my experience with customer support has been great. And the banks have zero fee instant transactions for payments inside the bank and only 0.5% to other banks in the country. This is on the Visa/Mastercard network, there's also an option to use direct bank transactions which also works online, may take longer but the fees are capped, so this is a usual method for large transactions.

So 4 out of 5 problems are not inherent to banks, but rather a lack of quality services in general. Only the problem of control and trust can't be solved. And for most people that problem is not big enough to convince them to switch to Bitcoin with all its inconveniences.

[UserU]

Well, that's until you realize that you'd need a loan to buy a house or a car.

[Stepstowealth]

1. They think they are Superior

People have already become used to culture of banking and it now looks like something that society cannot function without. The banks know that people consider them very important, so there will be tendency to let it get to their head. When banks become replaced and begin to go out of fashion and use, these banks will become more humble and polite in their dealings.

3. Charges or Fees

This is a reason I agree with, bank charges are annoying, the annoying thing is that even if you do not make a transaction, money will still be deducted from your account for charges.

[Spaceman1000$]

Well most of the reason you rolled out about why you hate Bank might not entirely be true,

1 they think they are superior.
  Actually bank staffs are trained to be very respectful and patient with customer. They are trained to be polite while talking to a customer, they don't look down on any customer, they are trained and retrained on customer care services.

2 charges or fee
I'm not really standing brief for any bank, but one thing I want you to understand is that, the bank is a financial institution, they make their money through charges on deposit, withdrawal and loans facilities they give out to customers, they don't have an exceptional source of income.
 

[tvplus006]

...I hope you realize the benefits that Bitcoin can give you in such a scenario. Although LN is still in the early stages it can seriously disrupt banking infrastructure.

As I understand it, you are new to the crypto community and therefore your comparison of bitcoin with traditional banks is not entirely correct. It all depends on which bank you use. I have not encountered such restrictions, using the mobile application I do not have to contact bank employees directly and gives me the opportunity to use it seven days a week at any time convenient for me. As for bitcoin, there is no such opportunity in my country to buy the goods and services I need using BTC.

[Viscore]

Actually, 3 of them are flawed since they depend on where you live.

Where I live the most popular banks are available 24/7 via website or app, and you can do there all or nearly all operations that way. I don't remember the last time I went to a bank office, because I do things like updating my personal documents online too. Issues arise very rarely and my experience with customer support has been great. And the banks have zero fee instant transactions for payments inside the bank and only 0.5% to other banks in the country. This is on the Visa/Mastercard network, there's also an option to use direct bank transactions which also works online, may take longer but the fees are capped, so this is a usual method for large transactions.

So 4 out of 5 problems are not inherent to banks, but rather a lack of quality services in general. Only the problem of control and trust can't be solved. And for most people that problem is not big enough to convince them to switch to Bitcoin with all its inconveniences.

Yes, I would agree to that. Despite of the negative impressions we had on banks, I cannot say that they’re all totally sucks. At least, in some banks here, they offer good customer services which will make the customers keep coming back. But when it comes to being centralized, that thing alone always discourage me from trusting banks. The fact they will always rely in the government as banks are government controlled, so there are high possibility that all our transactions too are monitored by the government, and whatever we do against them, we can always be traceable. That’s the biggest reason why I start loving the idea of bitcoin and hate banks instead.

[drwhobox]

I want to add a point, sometimes we have to wait in a long list of line to make a transaction in the bank or deposit money in an account. I hate banks but our society and government designed a way that we all have to use banks for our important transactions.

[yusrime]

We as a community are aware & frustrated with the way Banks conduct business. But, what makes them so worst is listed below in these 5 points. As a community member, you might relate to it and would be frustrated about it, since I am from the day I opened my account with them. BTW, We cannot tolerate them but we still need them as they control all necessities to make us happy.

1. They think they are Superior

This is quite common that their staff treat us as shit most of the time. As most of them think we are poor and are asking for some money to lend us. No matter what we are looking for as everything depends on our account number.

2. Bank Holidays

The network is so glitched or congested that we cannot ask for the money we were expecting to be in our account and the same happens when someone requested money from us. Furthermore, it takes 3 days or some time more to get your own money.

3. Charges or Fees

The amount of charges these banks apply for a simple transaction, issuing a debit/ credit card, deposit fee, and more is unsubstantial. I mean who would think a fee of $10 when you transfer $200( I just quoted an example)?

4. Holidays

Just imagine you are in a medical situation and you want a family member to transfer some money ( as you do not have any other option) but since it is a bank holiday, the money gets stuck within the network for 3 to 7 days resulting in delays and escalated bills.

5. Government Control

Currency devaluation has been occurring since the COVID-19 pandemic in most countries. Just imagine you went on your holiday and suddenly your budget increased due to devaluation.

The booking amount is now less than what you booked for and the holiday packer is asking for more. I do not think it happens but what about food prices getting higher than expected and it destroys your calculated monthly/weekly expenditure

I hope you realize the benefits that Bitcoin can give you in such a scenario. Although LN is still in the early stages it can seriously disrupt banking infrastructure.

3. Charges or Fees

The amount of charges these banks apply for a simple transaction, issuing a debit/ credit card, deposit fee, and more is unsubstantial. I mean who would think a fee of $10 when you transfer $200( I just quoted an example)?

worst thing is deduction without prior notice (some banks)

[Osama Maaz]

First option is one that i hate a lot they thing that without them we are unable to use payment methods and for doing any work we need to go there ,
And as other members says they take fee for their services that we give them our money to continue their business with our money they give it others to take high interests and give us 6,7,% , But in future when awareness grows people start decentralized fields and then they come to right way .

[mich]

I do not like banks too and do not keep lots of money in them. Financial institutions earn so much money with monthly service fees and they hold money one has earned. This is one of the reasons that I do not like banks, and this is crazy.

Then there are those banks that holds trillions of dollars from most powerful banks showing a monopoly and for the smaller banks who understands customers count firsts is disappearing. Then the regulation, plain and simply the government controlled. Leaving that for banks to be closed on Federal reserve holidays and leaving one waiting for the next banking day to conduct any banking activities.

[btc78]

crypto is my bank now , not only Bitcoin but some altcoin of course.