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Author Topic: I hate banks  (Read 843 times)
BrightAnarchist
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June 29, 2012, 08:36:47 PM
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So I went to withdraw 3K from a local bank today ( not my bank, but a local one ). The request was denied with no information.

So I called my account manager and it turns out my account has a 2.499K daily limit that I cannot lift. So I wanted to try again, but the local bank said that "we cannot do it a second time today. If it doesn't go through the first time, we have a policy that we cannot try again in a single day." Um... but you have my ID, my account manager is on the phone, etc.... and of course, the entire process wasted 45 minutes of my time.

WTF?

So now my Bitcoin contact is arriving on Saturday, and I don't have the cash, so now I have to wait another freaking week to buy BTC.

I. Hate. Banks.
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BrightAnarchist
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June 29, 2012, 08:39:04 PM
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Oh also I wanted to ACH out of the account to buy BTC that way, but they won't allow that either due to brokerage account regulations. I'd have to setup a second bank account with another firm, ACH to that account, and then ACH to an outside account.

Again, WTF?

The more I use btc, the more and more I'm hating legacy banks. They just plain suck.
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June 29, 2012, 11:04:44 PM
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Here's another story reporting a similar problem:
 - http://bitcointalk.org/index.php?topic=88121.msg990810#msg990810

And this exact scenario was the basis for this post:

Quote
Specifically, here is the challenge.  Consider the scenario that your bank is no better than RBS and for the next seven days (at least) you and a good third of everyone around you will be denied access to your bank account — no checking, no ATM, no debit card, no online bill pay, and no wire transfers.  Except for this scenario you happen to be exceptionally prescient and know that you have a few hours before this actually happens.

Do you, at this very moment, have several thousands of dollars of “available funds” at your bank?  Does your bank serve requests for larger cash withdrawals or will they take the opportunity to educate you on some policy that they have instituted where even a $2,500 USD withdrawal request will not be honored in full?

Do you know for sure?  Have you ever tried?

 - http://www.bitcoinmoney.com/post/26014446677

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June 30, 2012, 01:37:00 AM
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It looks like the feeling is mutual. Except their hate preempted yours. But in all seriousness, that really stinks.

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June 30, 2012, 02:21:27 AM
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Screw banks, use Bitcoin Wink

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June 30, 2012, 03:26:23 AM
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Is it a checking account? What if you made a check out to cash and someone brought it in to your bank? Are they really not going to honor that? I really don't know. But it seems like big news if a lot of customers can't write their own money out as checks over $3k.

Wait, what do you mean "not my bank, but a local one" usually "my bank" just means you have an account with them. Do you not have an account with this bank?

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BrightAnarchist
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June 30, 2012, 04:01:37 AM
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Is it a checking account? What if you made a check out to cash and someone brought it in to your bank? Are they really not going to honor that? I really don't know. But it seems like big news if a lot of customers can't write their own money out as checks over $3k.

Wait, what do you mean "not my bank, but a local one" usually "my bank" just means you have an account with them. Do you not have an account with this bank?

That's a good idea, I'll have to try that.

No, I have a checking account with jpmorgan chase, but the closest bank to me was us bank.
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June 30, 2012, 11:42:15 AM
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I have a savings account and have a limit of $1000 a day. Now imagine trying to get $5000 out of that stinking pile quickly. I tried raising my limit for 24 hours but they refused.


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