What if bank closes account for trading btc?

[cryptworld]

you always can sell it to a particular
and we hope that in the future we all are able to pay with bitcoin in any shop
also,we have available tools like xapo

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[oceans]

You should get your money regardless of the reason your account was closed, they do not have any rights that I know to keep your money because your account was closed for trading bitcoins. To avoid anything like this happening though I would consider choosing a bank that will not take this kind of action.

[moriartybitcoin]

If bank closes your account you are screwed.

Typical bank scam: They look for ANY reason to close your account and not refund your money.  BTC is a great excuse for them to STEAL.

I have not used a bank account in 20+ years.

[tooil]

If bank closes your account you are screwed.

Typical bank scam: They look for ANY reason to close your account and not refund your money.  BTC is a great excuse for them to STEAL.

I have not used a bank account in 20+ years.

This does not happen in the US.

There are law in place to protect consumers/customers.

[mercistheman]

Open several accounts and spread your transactions across the accounts. The advantages:

1) The volume of transactions per account becomes lower and less likely to trigger some bullshit "suspicious activity" threshold.

2) If one account gets shut down you can still continue operating your business with the other accounts while you take your time finding a replacement for the one that got closed.

This is good advise... from personal experience a non friendly btc bank gave several "notices" that the account would be closed... after awhile I simply withdrew funds and moved them to a credit Union (less likely to be anti coin)...
Once the banks realize that they don't control the market they will change their tune real quick... the first few btc friendly banks (or exchange houses) will reap huge benefits = game changers :^)
We're just getting started... don't let the old school corrupters influence what is a positive revolution.

[MonkeyThink]

What if a bank closes your account for trading with Bitcoin? what will happen to your money and what will the cons of such thing happening (except for losing your bank account which could be seen as positive)

You don't need to exchange your Bitcoin directly to your bank account.
It's much better, in my opinion, use exchangers, so that your bank can't find out origin of your money.

I don't really agree with exchangers because of the history of most exchangers and most exchangers don't allow buying from the UK I'll be using localbitcoins bank transfer and hopefully meeting up locally eventually.

Hi MakeBelieve, I'd definitely be interested to find out which banks in the UK are bitcoin friendly so if you do some research I hope you'll share

[gelar24]

Then you move your money to bank in other country, that dont block BTC
believe me, there will be always free countries

So you will receive your money back regardless? I was worried that they might just hold onto it. What's the most friendly and best bank for Bitcoin business?

for bitcoin is still good in the world I think there are many banks that accept bitcoin and safe

so do not worry about it
My prediction bitcoin will last long

[zedicus]

There is nothing you really can do. You can try to appeal the decision or if this does not work then you can speak to the branch manager's boss (and continue speaking to their boss, and their boss until you are confident that you are unable to get the result you are looking for or get the resolution you want).

The only thing you really can do is to take your business elsewhere.

[blumangroup]

The bank has no rights to keep your account closed for this reason. I am not 100% sure but I think you should be fine.

[cryptofan5]

They can't take your money. But yes, people have had accounts closed in association with bitcoin businesses.

Agree. Banks are traditionally scared of anything they don't understand. Some banks, don't remember by name right now, have made it clear that they will not associate themselves with any bitcoin business.