Bank account suspended for buying bitcoins? - page 4.

bitbunnny

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Quote from: SunBin on August 17, 2014, 10:07:02 PM

Quote from: gmx95 on August 17, 2014, 08:44:53 PM

Quote from: everblue on August 17, 2014, 04:30:12 AM

Maybe you should just use mainly a FIAT exchange like plus500 or other, like where It is Online Forex exchange platform which accepts Bitcoins also. So the banks would have no idea what you are trading.

Generally I think European banks are easier and will probably would not worry much if you are sending funds to a bitcoin exchange. To use a forex broker is also a good idea. You can usually use other payment methods besides bank transfers and effectively buy/sell bitcoins the same way you would do at any exchange.

Which European bank is friendly to bitcoin? Can a foreigner set up an account with them?

Unicredit group, no problems at all...

enryk

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GreenCoin

A had a similar issue with BoA, and was sorted out once I spoke to the branch manager. He said, my account was under investigation, but things got fixed themselves a week later.

Prompyboo

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banks.......this is the problem

cma3

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I wonder if -- now that paypal + coinbase have some kind of agreement, it will make it better or simply exasperate the issue being that most individual paypal accounts are bank funded/backed.

ie: bank > paypal > coinbase (as opposed to simply linking your coinbase acct to your bank)

fewcoins

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Good luck to all who try to take their money out of bitcoin exchanges... banks always give problems!

mllenios

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Quote from: indoboycoiner on September 18, 2014, 09:23:45 AM

Got a problem with your transaction maybe but not because you are transacting bitcoin

Maybe they are bending the rules.

fewcoins

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WAIT UNTIL ALL THESE BITCOIN-ERS TRY TO WITHDRAW $$$

malicious

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I have a smiliar issue... i am afraid now of collecting to much funds on one single platform...
And since i am not in my country where i live at the moment... it seems like impossible to solve it in person and in the moment.
I was not aware of this issue. Even sending out a big amount of BTC could get you forced to contact the support for further investigations...
My conclusion i learned from it: Do not trust banks... and not exchanges... rely on as much as you can handle... bots can save you time.
Then use prepaid credit cards (skrill/virwox) or podex card / bitplastic. Those don´t require id and you can add them to your paypal account or whatever you wish
There are some more high profile cards from malaysia giving you the abilities to pay in with western union, bitcoin and traditional methods... but it´s pricey...
I was shocked when my bank account got frozen and me beeing outside for extended holidays... had calls from the bank on daily basis until the problem was solved...

CampBxSucks

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Quote from: CryptoCarmen on September 14, 2014, 09:01:47 AM

Quote from: ibrahim11 on August 16, 2014, 10:27:29 AM

Hi, my bank account was suspended for sending a large sum over £500 to a person. i called my bank and said i was sending it to my friend but then i was asked where i got the money from and i said from my brother (because i was buying bitcoins for my brother). Now I have to go into my bank and show them my brothers bank statement saying that he send xxx amount of money to my paypal and from my paypal it went into my bank account. (btw my brother sent it from his paypal to my paypal because he doesn't have online banking and the banks were closed at the time for a cash deposit to my account). Has this happened to anyone else? thanks

Last kicks before their deaths.

bc banks are typically run by stupid individuals

indoboycoiner

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Got a problem with your transaction maybe but not because you are transacting bitcoin

CryptoCarmen

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Quote from: ibrahim11 on August 16, 2014, 10:27:29 AM

Hi, my bank account was suspended for sending a large sum over £500 to a person. i called my bank and said i was sending it to my friend but then i was asked where i got the money from and i said from my brother (because i was buying bitcoins for my brother). Now I have to go into my bank and show them my brothers bank statement saying that he send xxx amount of money to my paypal and from my paypal it went into my bank account. (btw my brother sent it from his paypal to my paypal because he doesn't have online banking and the banks were closed at the time for a cash deposit to my account). Has this happened to anyone else? thanks

Last kicks before their deaths.

joesmoe2012

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Ching-Chang;Ding-Dong

This happens all the time. Its likely not because of Bitcoin exclusively but because your transactions stand out.

Not being like everybody else = high risk = account closure.

dankkk

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Quote from: counter on September 11, 2014, 11:17:07 PM

Quote from: dankkk on September 11, 2014, 08:40:25 PM

Quote from: zdaz14 on September 10, 2014, 07:26:42 AM

Quote from: Get.BTC.Now on September 08, 2014, 09:04:15 AM

Quote from: Mr.burns on August 16, 2014, 10:41:50 AM

Since when bank will suspending bank account for selling bitcoins thats hard Angry

Yeah, is there truth in this issue? Anyone knows whats the deal with paypal or if they have released an "official" statement about this one. Ive been reading all about this issue all over btctalk.

I work in banking. Your bank SHOULD NOT close accounts for selling Bitcoin. The US Government classifies them similarly to stocks/property. They are not illegal and myself have bought and sold through my account no problems.

If they make a big deal out of it, go in, sit down and lay out the governments view on it.

Unless your that moron from reddit who wants to sell bitcoin internationally in the marijuana trade, then you're an idiot. Wait til its legal and remove that from your business website.

The issue is not that you are selling bitcoin and depositing the proceeds in your bank account, the issue is that you have a lot of deposits into your account in relation to your overall balance. This makes it looks like that you would be considered to be a MSB which is extremely risky on the bank's side, especially when the account holder is not reporting as such.

I don't think that should warrant them closing the account and not explaining why they chose to do so. If I open an account I'd expect their to be some kind of clause in the contract that wouldn't allow them from doing such things. I'll bet what there doing is illegal in one way or another but nobody really complains, they probably feel it is not worth the hassle and worry about it affecting their future accounts.

You would expect wrong because account agreements almost uniformly have clauses that either the bank or the customer can close the account for any reason without cause.

You should remember that a checking account gives banks very little profit. If it looks like you are using your bank account to facilitate being a MSB then you would be causing the bank to take on a lot of risk while have very little potential reward. It simply would not make business sense to keep your account open

counter

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Time is on our side, yes it is!

Quote from: dankkk on September 11, 2014, 08:40:25 PM

Quote from: zdaz14 on September 10, 2014, 07:26:42 AM

Quote from: Get.BTC.Now on September 08, 2014, 09:04:15 AM

Quote from: Mr.burns on August 16, 2014, 10:41:50 AM

Since when bank will suspending bank account for selling bitcoins thats hard Angry

Yeah, is there truth in this issue? Anyone knows whats the deal with paypal or if they have released an "official" statement about this one. Ive been reading all about this issue all over btctalk.

I work in banking. Your bank SHOULD NOT close accounts for selling Bitcoin. The US Government classifies them similarly to stocks/property. They are not illegal and myself have bought and sold through my account no problems.

If they make a big deal out of it, go in, sit down and lay out the governments view on it.

Unless your that moron from reddit who wants to sell bitcoin internationally in the marijuana trade, then you're an idiot. Wait til its legal and remove that from your business website.

The issue is not that you are selling bitcoin and depositing the proceeds in your bank account, the issue is that you have a lot of deposits into your account in relation to your overall balance. This makes it looks like that you would be considered to be a MSB which is extremely risky on the bank's side, especially when the account holder is not reporting as such.

I don't think that should warrant them closing the account and not explaining why they chose to do so. If I open an account I'd expect their to be some kind of clause in the contract that wouldn't allow them from doing such things. I'll bet what there doing is illegal in one way or another but nobody really complains, they probably feel it is not worth the hassle and worry about it affecting their future accounts.

dankkk

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Quote from: zdaz14 on September 10, 2014, 07:26:42 AM

Quote from: Get.BTC.Now on September 08, 2014, 09:04:15 AM

Quote from: Mr.burns on August 16, 2014, 10:41:50 AM

Since when bank will suspending bank account for selling bitcoins thats hard Angry

Yeah, is there truth in this issue? Anyone knows whats the deal with paypal or if they have released an "official" statement about this one. Ive been reading all about this issue all over btctalk.

I work in banking. Your bank SHOULD NOT close accounts for selling Bitcoin. The US Government classifies them similarly to stocks/property. They are not illegal and myself have bought and sold through my account no problems.

If they make a big deal out of it, go in, sit down and lay out the governments view on it.

Unless your that moron from reddit who wants to sell bitcoin internationally in the marijuana trade, then you're an idiot. Wait til its legal and remove that from your business website.

The issue is not that you are selling bitcoin and depositing the proceeds in your bank account, the issue is that you have a lot of deposits into your account in relation to your overall balance. This makes it looks like that you would be considered to be a MSB which is extremely risky on the bank's side, especially when the account holder is not reporting as such.

hayabusa911

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Bank of america CLOSED my account for selling bitcoin. My account was 11 years old!

zdaz14

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Quote from: Get.BTC.Now on September 08, 2014, 09:04:15 AM

Quote from: Mr.burns on August 16, 2014, 10:41:50 AM

Since when bank will suspending bank account for selling bitcoins thats hard Angry

Yeah, is there truth in this issue? Anyone knows whats the deal with paypal or if they have released an "official" statement about this one. Ive been reading all about this issue all over btctalk.

I work in banking. Your bank SHOULD NOT close accounts for selling Bitcoin. The US Government classifies them similarly to stocks/property. They are not illegal and myself have bought and sold through my account no problems.

If they make a big deal out of it, go in, sit down and lay out the governments view on it.

Unless your that moron from reddit who wants to sell bitcoin internationally in the marijuana trade, then you're an idiot. Wait til its legal and remove that from your business website.

GenieBTC

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Quote from: Get.BTC.Now on September 08, 2014, 09:04:15 AM

Quote from: Mr.burns on August 16, 2014, 10:41:50 AM

Since when bank will suspending bank account for selling bitcoins thats hard Angry

Yeah, is there truth in this issue? Anyone knows whats the deal with paypal or if they have released an "official" statement about this one. Ive been reading all about this issue all over btctalk.

Quote from: Get.BTC.Now on September 08, 2014, 09:04:15 AM

Quote from: Mr.burns on August 16, 2014, 10:41:50 AM

Since when bank will suspending bank account for selling bitcoins thats hard Angry

Yeah, is there truth in this issue? Anyone knows whats the deal with paypal or if they have released an "official" statement about this one. Ive been reading all about this issue all over btctalk.

Quote from: Get.BTC.Now on September 08, 2014, 09:04:15 AM

Quote from: Mr.burns on August 16, 2014, 10:41:50 AM

Since when bank will suspending bank account for selling bitcoins thats hard Angry

Yeah, is there truth in this issue? Anyone knows whats the deal with paypal or if they have released an "official" statement about this one. Ive been reading all about this issue all over btctalk.

Quote from: Get.BTC.Now on September 08, 2014, 09:04:15 AM

Quote from: Mr.burns on August 16, 2014, 10:41:50 AM

Since when bank will suspending bank account for selling bitcoins thats hard Angry

Yeah, is there truth in this issue? Anyone knows whats the deal with paypal or if they have released an "official" statement about this one. Ive been reading all about this issue all over btctalk.

I just read that Braintree is embracing paypal. It was on cointelegraph last day. Check it out.

Get.BTC.Now

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Quote from: Mr.burns on August 16, 2014, 10:41:50 AM

Since when bank will suspending bank account for selling bitcoins thats hard Angry

Yeah, is there truth in this issue? Anyone knows whats the deal with paypal or if they have released an "official" statement about this one. Ive been reading all about this issue all over btctalk.

Razerglass

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ive had trouble with jscfcu authorizing my coinbase withdrawls

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