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Author Topic: Economist: U.S. Banks Preparing to Charge Customers For Deposits  (Read 2452 times)
Harley997
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June 10, 2014, 01:42:43 AM
 #21

it basically happens now anyway with the maintenance fees.
ie: savings account with less than X $$ = a monthly fee..
charging you money for keeping your money in there.

Banks charge for keeping your money safe.

They basically charge you for what you are doing to keep your coins safe. The difference is that banks guarantee this while you have no guarantee that your security will be sufficient.

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Ron~Popeil
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June 10, 2014, 01:56:13 AM
 #22

it basically happens now anyway with the maintenance fees.
ie: savings account with less than X $$ = a monthly fee..
charging you money for keeping your money in there.

Banks charge for keeping your money safe.

They basically charge you for what you are doing to keep your coins safe. The difference is that banks guarantee this while you have no guarantee that your security will be sufficient.

You also pay a premium in the form of inflation. 

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June 10, 2014, 02:21:47 AM
 #23

it basically happens now anyway with the maintenance fees.
ie: savings account with less than X $$ = a monthly fee..
charging you money for keeping your money in there.

Banks charge for keeping your money safe.

They basically charge you for what you are doing to keep your coins safe. The difference is that banks guarantee this while you have no guarantee that your security will be sufficient.
http://o.canada.com/news/bmo-atm-winnipeg-460526

Much secure. Many safe.

My multibit wallet is more secure than that bank. And that's the weakest of my holdings.

There is no bubble.
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June 10, 2014, 12:27:43 PM
 #24

whether the bank accepts deposits using bitcoin.
if it should be U.S. citizens happy


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scryptasicminer
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June 10, 2014, 07:25:51 PM
 #25

With so many existing fee, banks already charged people for deposit.
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June 10, 2014, 07:29:56 PM
 #26

Banks are a business, we all have to know it even though they tend to be demonized.
What really bothers me is that nowadays you need to use their services.
No one should be obliged to have a bank account to receive their salary. I'm not sure what a proper alternative would be, but they're basically forcing everyone to put your money in a third party company. Not cool.
That is what bothers me also. I don't care if they are trying to make a buck, but I should not be coerced into participating in such a scheme.

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peeveepee
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June 10, 2014, 08:20:45 PM
 #27


That is what bothers me also. I don't care if they are trying to make a buck, but I should not be coerced into participating in such a scheme.

Can we demand company to pay in cash?
Deviant1
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June 10, 2014, 10:13:35 PM
 #28

Just another nail in the coffin...
CurbsideProphet
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June 10, 2014, 10:25:18 PM
 #29

If your bank is charging you fees, switch.  No monthly fees, no ATM fees, no minimum balance, blah blah blah.  Do some shopping it's pretty easy to find a checking or savings with no fees (unless you do wires or things of that nature).  Look at the online banks especially.

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Harley997
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June 11, 2014, 02:01:44 AM
 #30

it basically happens now anyway with the maintenance fees.
ie: savings account with less than X $$ = a monthly fee..
charging you money for keeping your money in there.

Banks charge for keeping your money safe.

They basically charge you for what you are doing to keep your coins safe. The difference is that banks guarantee this while you have no guarantee that your security will be sufficient.
http://o.canada.com/news/bmo-atm-winnipeg-460526

Much secure. Many safe.

My multibit wallet is more secure than that bank. And that's the weakest of my holdings.

Your multibit wallet is very safe. There is a very small chance that your coins could be stolen (key logger, password cracker, 0 day attacks). Even if a bank were to fail then your deposits are insured up to a certain amount. Banks will protect you from unauthorized withdrawals.

▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
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Ibian
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June 11, 2014, 03:07:06 AM
 #31

it basically happens now anyway with the maintenance fees.
ie: savings account with less than X $$ = a monthly fee..
charging you money for keeping your money in there.

Banks charge for keeping your money safe.

They basically charge you for what you are doing to keep your coins safe. The difference is that banks guarantee this while you have no guarantee that your security will be sufficient.
http://o.canada.com/news/bmo-atm-winnipeg-460526

Much secure. Many safe.

My multibit wallet is more secure than that bank. And that's the weakest of my holdings.

Your multibit wallet is very safe. There is a very small chance that your coins could be stolen (key logger, password cracker, 0 day attacks). Even if a bank were to fail then your deposits are insured up to a certain amount. Banks will protect you from unauthorized withdrawals.
Yeah banks will protect me, right up until they do a Cyprus. It's just a matter of time until it hits the rest of the western world, starting with EU countries.

There is no bubble.
Harley997
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June 11, 2014, 04:03:42 AM
 #32

it basically happens now anyway with the maintenance fees.
ie: savings account with less than X $$ = a monthly fee..
charging you money for keeping your money in there.

Banks charge for keeping your money safe.

They basically charge you for what you are doing to keep your coins safe. The difference is that banks guarantee this while you have no guarantee that your security will be sufficient.
http://o.canada.com/news/bmo-atm-winnipeg-460526

Much secure. Many safe.

My multibit wallet is more secure than that bank. And that's the weakest of my holdings.

Your multibit wallet is very safe. There is a very small chance that your coins could be stolen (key logger, password cracker, 0 day attacks). Even if a bank were to fail then your deposits are insured up to a certain amount. Banks will protect you from unauthorized withdrawals.
Yeah banks will protect me, right up until they do a Cyprus. It's just a matter of time until it hits the rest of the western world, starting with EU countries.

Cyprus was very unusual and very localized. IMO the chances of a Cyprus type "solution" to a bank crisis to be implemented in the US are about the same as your multibit wallet being "stolen" (meaning keys stolen), and a Cyprus "solution" would be only temporary while your keys being stolen would be permanent and a thief would likely take all of your coins. 

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PRIMEDICE
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Ibian
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June 11, 2014, 05:13:12 AM
 #33

it basically happens now anyway with the maintenance fees.
ie: savings account with less than X $$ = a monthly fee..
charging you money for keeping your money in there.

Banks charge for keeping your money safe.

They basically charge you for what you are doing to keep your coins safe. The difference is that banks guarantee this while you have no guarantee that your security will be sufficient.
http://o.canada.com/news/bmo-atm-winnipeg-460526

Much secure. Many safe.

My multibit wallet is more secure than that bank. And that's the weakest of my holdings.

Your multibit wallet is very safe. There is a very small chance that your coins could be stolen (key logger, password cracker, 0 day attacks). Even if a bank were to fail then your deposits are insured up to a certain amount. Banks will protect you from unauthorized withdrawals.
Yeah banks will protect me, right up until they do a Cyprus. It's just a matter of time until it hits the rest of the western world, starting with EU countries.

Cyprus was very unusual and very localized. IMO the chances of a Cyprus type "solution" to a bank crisis to be implemented in the US are about the same as your multibit wallet being "stolen" (meaning keys stolen), and a Cyprus "solution" would be only temporary while your keys being stolen would be permanent and a thief would likely take all of your coins. 
Cyprus was a test case.

There is no bubble.
Ron~Popeil
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June 11, 2014, 08:35:41 AM
 #34

it basically happens now anyway with the maintenance fees.
ie: savings account with less than X $$ = a monthly fee..
charging you money for keeping your money in there.

Banks charge for keeping your money safe.

They basically charge you for what you are doing to keep your coins safe. The difference is that banks guarantee this while you have no guarantee that your security will be sufficient.
http://o.canada.com/news/bmo-atm-winnipeg-460526

Much secure. Many safe.

My multibit wallet is more secure than that bank. And that's the weakest of my holdings.

Your multibit wallet is very safe. There is a very small chance that your coins could be stolen (key logger, password cracker, 0 day attacks). Even if a bank were to fail then your deposits are insured up to a certain amount. Banks will protect you from unauthorized withdrawals.
Yeah banks will protect me, right up until they do a Cyprus. It's just a matter of time until it hits the rest of the western world, starting with EU countries.

Cyprus was very unusual and very localized. IMO the chances of a Cyprus type "solution" to a bank crisis to be implemented in the US are about the same as your multibit wallet being "stolen" (meaning keys stolen), and a Cyprus "solution" would be only temporary while your keys being stolen would be permanent and a thief would likely take all of your coins. 
Cyprus was a test case.

I tend to agree. People will be looking for a safe place to store wealth and bit coin is a natural destination for it.

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June 11, 2014, 08:52:51 AM
 #35

Nothing except the powerful elite is stopping Congress/Executive branch from passing a law that takes a chunk of all wealth in your current possession.  Of course most people think this won't happen because my God the Kennedys/Rockafellers/Mellons won't stand for it... uh, just like the health care law they can be bypassed.  Gotta pass it to know what's in it! Wink

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Ron~Popeil
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June 11, 2014, 09:16:33 AM
 #36

Nothing except the powerful elite is stopping Congress/Executive branch from passing a law that takes a chunk of all wealth in your current possession.  Of course most people think this won't happen because my God the Kennedys/Rockafellers/Mellons won't stand for it... uh, just like the health care law they can be bypassed.  Gotta pass it to know what's in it! Wink

They floated the idea of nationalizing retirement accounts a few years ago. Thankfully the house of representatives found their collective balls recently and they haven't been able to do much since.

bitsmichel
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June 11, 2014, 09:31:13 AM
 #37

Banks are a business, we all have to know it even though they tend to be demonized.
What really bothers me is that nowadays you need to use their services.
No one should be obliged to have a bank account to receive their salary. I'm not sure what a proper alternative would be, but they're basically forcing everyone to put your money in a third party company. Not cool.
That is what bothers me also. I don't care if they are trying to make a buck, but I should not be coerced into participating in such a scheme.

Agreed, this is a mafia type of business. We live in a time where we do not need banks anymore, at all. The government is yet to realize this, but they get profits from banks.. so who are they to change the law? The degree of corruption in the government is reaching all time high
 
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June 12, 2014, 01:07:42 PM
 #38

Step by step the financial system based on debts an interests is going to die. It never was sustained and its a mathematical certainity that it cannot last over a long period of time. Each new $ or € can only be brought in the system when someones gets it as debt. No debt, no money. Due to the fact that every debts has its interests, do the math....there is not enough money in the world to pay all debts back. Thats fact.

If FED and EZB are not able to fight the deflation, money systems as we know will collapse. Only the inflation makes nations be able to pay there debts.

It's time for bitcoin to rule the world. Money for the people and not for capital, gouvernments and banks. Times cannot be better for the little coin exploring the world ;-)
RiverBoatBTC
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June 12, 2014, 01:16:14 PM
 #39

Banking with interest rates on with small scale community banks work... look at credit unions. Its when banks become huge, they start to need more investments to pay that %. Thus taking the money out of the community, investing it in go know what.
I only use credit unions cause they have way better advantages then banks do lower interest rates, not as strict on lending reqs and best of all I can actually go in and talk to a human being about things... no 1800indiadialup on the phone for 2 hours.
Yes being in the credit union cost me a whole 1$ dollar a month, but do you know where that dollar goes? To the upkeep of a hospice house they built for its members, they also just donated 3 million dollars to a local historical site to keep it afloat for the next 20 years.
All the money collect from the community stays in the community all loans are local, the tellers all know you by name when you walk in its all and all a way better experience.

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June 14, 2014, 10:50:45 PM
 #40

Banks are a business, we all have to know it even though they tend to be demonized.
What really bothers me is that nowadays you need to use their services.
No one should be obliged to have a bank account to receive their salary. I'm not sure what a proper alternative would be, but they're basically forcing everyone to put your money in a third party company. Not cool.
That is what bothers me also. I don't care if they are trying to make a buck, but I should not be coerced into participating in such a scheme.

Noone is really "coerced" into participating in the banking system. The issue is that it is very expensive to not use the banking system. At least by "yesterdays" standards.
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