...and they closed my bank account...

[Nwada001]

One of the reasons why banks hate Bitcoin is because of this; it's as if it's taking all their customers away from them, giving them an eye-opening that they don't need to be slaves for their own money, just like they have sold that mentality to us. You will use your sweat and time to work for your money; it will be paid to an account.

You use your information and hand it over, and one set of people—they don't know anything about how you struggle to make that money—will decide how you should spend it, and if you make a payment more than they consider to be normal, they will limit your account and ask you to come answer a query for spending your own money.

If not that, by default the system is designed so that we can't survive without owning a bank; it could have been better to just get rid of it, but we can't entirely avoid using a bank, as not all service providers get paid with crypto, and that's how we will continue.

[moneystery]

banks have absolute authority over our accounts. they can close, monitor, and limit the activity of our bank accounts if they wish. once we deposit our money with the bank, they can use it as they please. if we want to withdraw it, they can use a thousand excuses to delay the withdrawal. we can't complain or anything, because they'll come up with another excuse, claiming it's just procedure.

from this, we can see that bitcoin represents true financial freedom. you can send and receive bitcoin to your wallet whenever you want, and you can manage it freely without needing to confirm it with anyone. you are the true owner of your assets, and that's how it should be.

[hyudien]

Wow, your case is almost the same as in the country where I live, where the government blocks its citizens bank accounts if they are inactive for a certain period of time. However if our accounts have transactions and balances, they will still be taxed every month. This raises awareness that, as you said, we have Bitcoin that cannot be blocked by anyone, even if we store large amounts of Bitcoin and do not make any transactions for years.

[BABY SHOES]

The bottom line is, never keep your money in a bank.

It's all well and good to hate banks, but I'd say most people wouldn't be able to get by in their day-to-day life without having a checking account or some other banking account that they can use to, say, pay their rent and utilities, gas for the car, food, and everything else that you can't really use bitcoin for.  It irks me when I read advice like yours because I'm not sure if you even believe it yourself despite what you wrote in the rest of your post that I didn't quote.

You're right, they can't live without a bank account because they still use banks to pay for everything, including shopping, for their daily needs, but the problem is that those who keep their money in banks are now under increasing pressure, as is the case in my country.

Yeah, I still use banks for my daily needs.

There are many complaints right now, as seen in the viral TikTok videos. 
They save money in the bank for emergencies, but since there are no transactions, the funds are frozen by the government—this is what's truly regrettable. 

And I never keep a lot of money in the bank because I'm afraid of what's happening now in my country.

The fact is that the vast majority of people do not live on crypto.  Not only that, but my guess is that most people don't have serious problems with their bank such that they'd need to resort to using cryptocurrency.  We're not there yet, and I'm not sure we ever will be.

Yeah, they can’t live entirely on cryptocurrency, and I’m sure the government won’t allow cryptocurrency for any payments (in my country). They’ll still use banks, but given the current news, this is actually quite concerning.

[Mrbluntzy]

Banks are centralized and they control our money via the holding account they opened for us in our names and details but with Bitcoin, you are the manager of your asset and you are also to secure your asset by yourself not as banks helps us to secure it. So, if we ever wonder why banks takes someone certain actions on our accounts, we should not forget that it how centralized institutions run their company with rules and regulations that falls in line with government policies, they always need to give account to the central system through which they operate from.

[Issa56]

Imagine in a world with just BANKS and not other options. You will have just to shut up and being forced to act as a coward.
Free suggestion... don't look the price, buy AT ANY PRICE YOU CAN BUY.

Most people that know about bitcoin are just tired with the crazy things which banks are doing, I have heard lots of complains about banks in my country, have seen some banks stealing money from their customers accounts, some customers do experience failed transaction, but the funniest part is that they won’t get their money back, and before some will be able to recover the money, they will have to visit the bank so many times before the problem will be solved.

We all are tired with the crazy things happening in the banking sector, but the issue is that we don’t just have choice, we can’t avoid banks right now, we need banks for our daily activities. In most country’s bitcoin isn’t accepted yet, and even the country’s accepting bitcoin, you can’t be making use of bitcoin for your daily activities, because you going to find it difficult to see businesses accepting bitcoin, so if you make some purchases, you won’t have choice that to pay with your bank card.

If we are leaving our bitcoin in a wallet, and we want to have full control of it, then we should make sure our bitcoin is stored in a non custodial wallet, we should make sure we are in full control of our bitcoin, but if you decide to leave your bitcoin on exchange, then anything can happen to it, because the exchange can decide to hold your account also, so I don’t see much difference between exchange and banks.

[henry_of_skalitz]

Banks are centralized and they control our money via the holding account they opened for us in our names and details but with Bitcoin, you are the manager of your asset and you are also to secure your asset by yourself not as banks helps us to secure it. So, if we ever wonder why banks takes someone certain actions on our accounts, we should not forget that it how centralized institutions run their company with rules and regulations that falls in line with government policies, they always need to give account to the central system through which they operate from.

Each chooses his own way, but anyways, we can't go without fiat too far as of now, we still need to rely on it in many cases.

BTC is the future

[goldkingcoiner]

Long Story short   that I would to share with all bitcoiners.
A bank, through his director, has closed my bank account where I receive salary/pension etc. without notice or just "I can do it".
Here I think there is the clear evidence of what bitcoin is. And even if I am using since many years, I am still surprised to see what a BIG innovation we have here.

Banks, as you can see, decide to close an account "at their own discretion".
They can size my money if requested by third part.
They can limit the way I am spending or just I am receiving it.
They are even not allowing money "moving faster" but taking days and days for settling payments.
Technically they can do whatever they want because in any case "interact" with these BIG companies is expensive, really difficulty and requires a LOT of time.
So they know that just few people will do it...

On the other hand, you have btc.
That is just pure freedom, that you can bring everywhere in the form of pure text and mathematics.
Even if this is a "selfish" it gives you freedom to accomplish whatever you want without other external helps.

Of course, the banking services somehow will always be necessary (let alone, still today it is full of people who repair wagons wheels, or builds saddles to go on horseback).
But NOW you have an OPTION that before there wasn't. Now there is pure form of "value" that could transact without any permission, borderless, and crazy fast!

This is the real value! Don't use the "monetary", or "gold" standard but the real freedom for "pricing bitcoin".

Imagine in a world with just BANKS and not other options. You will have just to shut up and being forced to act as a coward.
Free suggestion... don't look the price, buy AT ANY PRICE YOU CAN BUY.

Man, I hope you can get your money back from the bankster mafia.

This just goes to show how ridiculous and outdated the current money system is and how much corruption and exploitation there is by government sanctioned third parties, such as banks.

The enemy is centralised and custodial. Always. And this is also a reason why nobody should use a wallet which is centralised and/or custodial either! Using such a wallet is the same as putting all your money into the hands of a third party (banks, exchanges, and so on...).

Freedom lies in Bitcoin and decentralised, open source, trusted and non-custodial wallets!

[betswift]

Man, I hope you can get your money back from the bankster mafia.

This just goes to show how ridiculous and outdated the current money system is and how much corruption and exploitation there is by government sanctioned third parties, such as banks.

The enemy is centralised and custodial. Always. And this is also a reason why nobody should use a wallet which is centralised and/or custodial either! Using such a wallet is the same as putting all your money into the hands of a third party (banks, exchanges, and so on...).

Freedom lies in Bitcoin and decentralised, open source, trusted and non-custodial wallets!

Unfortunately, people get this only through getting into situations where these facts really show themselves.

The risks are always there, even by just doing P2P and then having your activities seized due to matters which you cannot control: and banks are not out of this picture.

[adaseb]

Yeah I’m surprised this still happens till this day when we got these bitcoin etfs trading billions on the stock market.

I remember years ago banks didn’t like it when you bought bitcoin which involved wiring money to an overseas exchange like Bitfinex or Binance because they didn’t want you to launder money and just didn’t want to accept the low risk.

However these days every exchange does due diligence for their users that it’s not possible to do shady things with your account and get away with it. Exchanges are very strict these days, more strict than many banks. So banks need to realize that if someone sends or receives money thru a legit bitcoin exchange then that user obviously isn’t involved in illegal activities.

[coolcoinz]

Banks, as you can see, decide to close an account "at their own discretion".
They can size my money if requested by third part.
They can limit the way I am spending or just I am receiving it.
They are even not allowing money "moving faster" but taking days and days for settling payments.
Technically they can do whatever they want because in any case "interact" with these BIG companies is expensive, really difficulty and requires a LOT of time.
So they know that just few people will do it...

It's like you're describing a typical bitcoin exchange. I've heard rumors that since the MICA was introduced in the EU it's very hard to get bitcoin off exchanges. You have to do full KYC and they ask you for the name of the owner of the address that you're sending bitcoin to and stuff like the reason why you've decided to purchase cryptocurrency.

I wish I could function without a bank, but unfortunately I can't be 100% in BTC. To do that I'd have to fill in paper bills and take them to a post office every month because most institutions are now cashless. I can't pay my electric bill at the electric company or my gas bill at the gas company because they no longer have a counter. Everything is done online.

[Ojima-ojo]

What I experienced recently is a failed transaction. It also happened to me last year. This one of recent happened 4 days ago but it took the bank 3 days before they resolved it. I had to report the error again yesterday before it was processed after many hours. If it is bitcoin transaction, it has not failed me before.

Banks transactions have high third party involvement unlike blockchain transactions where Bitcoin sent to an address will go straight after getting a confirmation, Banks have a lot of arbitrary interferences with clients transactions and sometimes the funds netther go to the receiver or come back to the sender for days.

I wonder who check's those failed transactions in the end I mean those transactions that failed and their senders lacks the knowledge how to get the funds reversed.

[Marvell1]

I really hate banks... Recently, my country's government has imposed a rule that any bank that has not conducted any activity for 3 months will have its accounts blocked... whether there is money in the account or not, the government has the right to do this... This is ridiculous news.

So far, hundreds of thousands of bank accounts have been frozen by the government, including large sums of money; this is truly insane. 

And now, we’ve decided we’ll never keep money in a bank because it’s too risky. Our solution is to keep our assets in BTC because we have control over our own assets. 

The bottom line is, never keep your money in a bank.

Are you from Indonesia? And you're exaggerating, right? Because as far as I know, PPATK has frozen more than 28000 bank accounts and the reason is most of these accounts are involved in illegal activities like drug trafficking, scams and online gambling. They don't freeze them randomly and it's only a temporary freeze command. Any account holder who believes that his or her bank account is clean and not involved in illegal activities can reactivate the account by following specific procedures at the bank.

There is no denying that the banking system and fiat money are not perfect but they are not as bad as you or many people portray them to be. You guys are just exaggerating.
I bet you are not the only one, people who badmouth banks also have at least 1 or 2 bank accounts and still use them on a daily basis.


https://expatindonesia.id/2025/ntrac-freezes-thousands-of-bank-accounts-how-to-protect-yours/

[BABY SHOES]

Are you from Indonesia? And you're exaggerating, right?

Yeah, I'm from Indonesia... and I'm not exaggerating...

Because as far as I know, PPATK has frozen more than 28000 bank accounts and the reason is most of these accounts are involved in illegal activities like drug trafficking, scams and online gambling. They don't freeze them randomly and it's only a temporary freeze command. Any account holder who believes that his or her bank account is clean and not involved in illegal activities can reactivate the account by following specific procedures at the bank.

There is no denying that the banking system and fiat money are not perfect but they are not as bad as you or many people portray them to be. You guys are just exaggerating.
I bet you are not the only one, people who badmouth banks also have at least 1 or 2 bank accounts and still use them on a daily basis.


https://expatindonesia.id/2025/ntrac-freezes-thousands-of-bank-accounts-how-to-protect-yours/

That was the news you shared a month ago, but now more bank accounts have been blocked. According to the latest news reports, PPATK has blocked 31 million dormant bank accounts from numerous bank reports.

Additionally, 140,000 bank accounts have been frozen because they remained inactive for a certain period of time, totaling Rp428.61 billion.

The Head of the Public Relations Bureau of PPATK, Natsir Kongah, stated on Wednesday (30/7/2025) that as of May 2025, PPATK has blocked 31 million dormant customer accounts with a value of Rp 6 trillion. The blocking is a follow-up to data reported by 107 banks to PPATK.

Of the total, the majority of the accounts have been dormant for more than five years. According to the analysis results from PPATK, there are more than 140,000 accounts that have been dormant for over 10 years, with a value of Rp 428.61 billion.

I'm not exaggerating, but looking at the news that's currently being widely reported by local TV, there's been a lot of criticism.

[1] https://www.youtube.com/watch?v=LQu7u5S0138
[2] https://www.kompas.id/artikel/en-ppatk-puluhan-juta-rekening-terblokir-sudah-diaktifkan-kembali

[highalch]

It's like you're describing a typical bitcoin exchange. I've heard rumors that since the MICA was introduced in the EU it's very hard to get bitcoin off exchanges. You have to do full KYC and they ask you for the name of the owner of the address that you're sending bitcoin to and stuff like the reason why you've decided to purchase cryptocurrency.

I'm from the EU and I can easily debunk this.

The only thing that changed since MiCA from the user perspective is there's KYC everywhere. But the funds can be easily withdrawn from any exchange, especially MiCA compliant exchanges in seconds. No extra questions asked.

Despite thorough KYC, they still ask for minimal information regarding the origins of your funds unlike regular banks. So if either party rejects the transaction, it's gonna be the receiving bank and not the exchange in 99% of the cases. The last 1% is when your funds are closely related to shady mixer activity or such.

[Luzin]

This is a traditional bank, they have the right to do anything with what you have that relates to them. They have also asked for your consent in the beginning, so don't be surprised. So they seem to have a reason about your bank account and blocked it. I think if your bank account has no malicious transactions it will be safe.

If you know, my country is currently implementing this rule as well. Many accounts are suspected and frozen. They are suspected of being connected to illegal activities. Even the most absurd rule is to freeze bank accounts that are rarely active. This is the condition of the country that I consider bad, it seems that they are short of money so they try to find alternatives other than taxes. Bitcoin is a solution but for the foreseeable future I think we will still need it. The reason is simple the world has not yet accepted bitcoin as a full currency.

CMIIW

[alani123]

It's been know for the longest time ever that banks will close your bank account at their discretion, or because of federal ageent pressure, or just because of company politics or whatnot.

You simply can not be a big disruptor and expect banks to support you in your struggle.

Bitcoin is kinda better in that, but also crypto exchanges will bar you from registering or transmitting any funds if they've been aleterd by the feds to do so.

So what solutions remain?

Just as the saying goes, the revolution will not be televised. Likewise, the financial transactions helping the revollution will not be transmitted on you behalf. You'll need to do p2p in person cash transactions.

Anyway, it's a long story but don't rely on bank for anything ground breaking. Closures can happen for no reason also. If a bank finds you're the kind of customer that uses their services frequently but without earning them money they might also find an excuse to close your account. Or even close it with no excuse.

[bitbollo]

This bank account of course was active, with movements (legal with KYC and everything).
The problem is simple. If we give "power to decide" even to "monkeys" they will just throw to you s*it and bananas....
Arrogants banksters are litterally surprised to see people not begging for their service and this create a clear issue.

Man, I hope you can get your money back from the bankster mafia.
...

Moreover, they seized illegally, few thousands of euro for 72 hours without reasons and even denying they have done this
Once I have sent the "proofs" of their action (most of the time these workers are just illiterate with informatic/pdf) they immediately "admitted" the mistake.

...
So what solutions remain?
...

They are already outdated. Its like people that have used faxes in late 90' saying "nah, internet and emails will never have a future"

Thank you all for contribution, few hours and I will lock the topic.

[Lida93]

What I experienced recently is a failed transaction. It also happened to me last year. This one of recent happened 4 days ago but it took the bank 3 days before they resolved it. I had to report the error again yesterday before it was processed after many hours. If it is bitcoin transaction, it has not failed me before.

Banks can be really frustrating especially in times of emergency where you want to make quick transactions of some big amount of cash. At different times I have experienced delayed transactions or failed transactions which has to take days to be retrieved back to my account. And you have to walk into the bank to lay complain, fill forms for this simple issues to be fixed. Then just imagine how we get to be unable to achieve what we had intended to before making the transaction in the first place. The traditional financial system is really getting worse on a daily