Are UK banks so strict to BTC??
I also tried to open a bitcoin business bank account in some banks in UK, and their answer was a stunning NO.
Topic: bank account suspended, 4500 miles from home ! (Read 3130 times)
I also tried to open a bitcoin business bank account in some banks in UK, and their answer was a stunning NO.
I think the moral of the story is be like me carry a credit card you rarely use for emergencies only and watch what you say when your in your bank.Please remember when something like btc is about to change the banking world, banks will strike back.
Yah, it's one of those things, like wrongful police shootings or civil forfeitures, that happens every day, so of course if you make a fuss, it's "an isolated incident" rather than a systemic problem. See this dot here, it's a dot all on its own, not like the other dots, no siree.
Thanks for your support. I am composing a message to submit to a newspaper in the hope that something will get done about this.
I don't want to try to sound like I'm discouraging you or anything, but this stuff happens all the time. World-wide, banks suspend or close accounts for suspicious activity or simply too many cash deposits. I'm pretty sure your story won't make it anywhere near breaking-news headlines. You can still go ahead and try to make a news story out of it, but just don't be too disappointed of nothing comes out of it.
...However, I am not acting fraudulently or otherwise illegally in any way.
It is about time that the banks were forced to accept a perfectly legal activity and stop persecuting those who trade bitcoin for "fun and profit".
It is about time that the banks were forced to accept a perfectly legal activity and stop persecuting those who trade bitcoin for "fun and profit".
It doesn't matter if it's legal or not. If banks don't like the type of activity they see on your account, they can choose not to do business with you and close the account. There's no law that says they're forced to do business with you.
Take for example, banks generally will not open a small business account for people that have business central to check-cashing, alcohol, cash-for-gold, or other money service business, even though non of these things are illegal. So it's not a matter of what's legal or not, it's their choice.
cash deposit?
how would they know it was bitcoin related and not a family gift or simply depositing £100 from junk change you had laying around your house?
how would they know it was bitcoin related and not a family gift or simply depositing £100 from junk change you had laying around your house?
Even if you have a single cash deposit, if the guy that makes the deposit tries to reverse or report it, that's enough to lock up your account for investigation. Banks would know it's not friend or family because these group of people wouldn't report their own transaction as fraudulent.
Lesson: ...
Don't use a personal account to conduct business.
Don't be surprised if your account gets closed as a result.
yes i know a couple of people on the Local Bitcoin scheme wanting to open a business account for it,were refused and had there personal account closed on the spot.Reading UK forums I find out this is the norm and they put you on a worldwide ban for opening an account
Are UK banks so strict to BTC??
Hell no if you mention btc to them they shut your account straight away and put you on a world wide banking blacklist
I thought UK banks were more accepting towards bitcoin than other parts of the world?
One other point my wife is an American and banks with Fifth Third we often transferred money to this country via her paypal to mine,not huge amounts but several hundred dollars.After having the paypal account for years they closed it with no reason another shit company.
The US has the worst banking system in the world along with a few other things as well like medical treatment.Here in the UK I can use my debit card free of charge anywhere in the world and get the spot rate of conversion.If I forget to tell my bank I am going outside europe and my card wont work its a quick call to them and away we go.
Lesson: Do not go on long distance trips without cash or access to a way to convert your bitcoin to fiat.
DON'T LEAVE HOME WITHOUT IT.
DON'T LEAVE HOME WITHOUT IT.
I second that. I was in a different town, and lost my wallet. I traded my bitcoin on the go, with someone I found on localbitcoins for cash.
Lesson: Do not go on long distance trips without cash or access to a way to convert your bitcoin to fiat.
DON'T LEAVE HOME WITHOUT IT.
DON'T LEAVE HOME WITHOUT IT.
have you got travel insurance call them, they should offer u up to 1 million in legal assistance/indemnity
you could sue your bank for a million if they are really leaving you in the lurch overseas, id call a lawyer or go see one in the US, get in touch with
consumer affairs in london and also find out who the banking regulatory authority is and contact them too, also get in touch with your
local politician, your embassy in florida should be able to provide you with all the help u need making phone calls etc
you could sue your bank for a million if they are really leaving you in the lurch overseas, id call a lawyer or go see one in the US, get in touch with
consumer affairs in london and also find out who the banking regulatory authority is and contact them too, also get in touch with your
local politician, your embassy in florida should be able to provide you with all the help u need making phone calls etc
Unfortunately, I can't offer any actual assistance.
However, I would, if it were me, go in when I got home and demand that my account be closed and cashed out immediately, and I'd take a lawyer and a cameraman with me. I would very openly accuse them of fraud and misappropriation of funds, and I would file a complaint with the central banking authority.
Then I'd put that video on every social media site in the world and pimp the hell out of it.
Banks don't hold all the keys. They think they do, but cash hasn't yet been made illegal. And BTC and it's successors will soon enough render them irrelevant if we all stay the course.
EDIT: The negative publicity could potentially cost them millions, especially if you encourage people to remove all funding from that institution. As long as your statements are factual or clearly stated as opinion, there is really nothing they can do about it.
However, I would, if it were me, go in when I got home and demand that my account be closed and cashed out immediately, and I'd take a lawyer and a cameraman with me. I would very openly accuse them of fraud and misappropriation of funds, and I would file a complaint with the central banking authority.
Then I'd put that video on every social media site in the world and pimp the hell out of it.
Banks don't hold all the keys. They think they do, but cash hasn't yet been made illegal. And BTC and it's successors will soon enough render them irrelevant if we all stay the course.
EDIT: The negative publicity could potentially cost them millions, especially if you encourage people to remove all funding from that institution. As long as your statements are factual or clearly stated as opinion, there is really nothing they can do about it.
You are SOL until you get back to your homeland.
Sell some of your btc to me.
Sell some of your btc to me.
I'm sending my letter to a newspaper today. I'll let you know what they decide to do, if anything...
Any UK citizens with similar stories please let me know here, and I'll try to demonstrate the scale of the problem. Only if you're prepared to go public of course.
Thanks for your support.
I somewhat doubt the newspaper would publish your editorial. It is reasonable to request an in-person visit to a branch when there is extremely suspicious activity on your account. Most travel professionals will advise you to keep multiple credit cards with you as well as cash/travelers checks when you are traveling Any UK citizens with similar stories please let me know here, and I'll try to demonstrate the scale of the problem. Only if you're prepared to go public of course.
Thanks for your support.
I'm sending my letter to a newspaper today. I'll let you know what they decide to do, if anything...
Any UK citizens with similar stories please let me know here, and I'll try to demonstrate the scale of the problem. Only if you're prepared to go public of course.
Thanks for your support.
I doubt they will class banks scamming as news. It's just the norm. Any UK citizens with similar stories please let me know here, and I'll try to demonstrate the scale of the problem. Only if you're prepared to go public of course.
Thanks for your support.
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