Bank withholding funds? - page 2. | Bitcointalksearch.org

davis196

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Quote from: ashler on January 19, 2021, 08:06:31 AM

From which amount did your bank retained your money and asked you to supply additional documents etc? 10K+? 100K+? they never retained your amount? Planning to book partial profits and want to know others experience.

Please mention the country you reside if possible (if not, at least the continent). Thanks!

I live in a EU country and I've never had any problems with my bank account.
I guess that I'm "flying under the radars",because I don't transact large sums of money.
AFAIK,in my country all bank transfers above 2500 EUR are reported by the bank to the tax agency.
If you want to deal with banks and you have large amounts of money to send and receive,there's no other way than playing by the rules of the bank and submitting all the necessary documentation.

Porfirii

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I had an interview a few years ago also: I went to the office and explained that I was going to receive some "atypical" sums of money, that the reason was that I got paid some works in Bitcoin, and that I was declaring them also to the tax office. That I was asking before because I'd heard that some banks were freezing accounts related to cryptos.

She answered that it was totally ok for them, that they don't usually care about how their clients earn their money, but that she would write it down if I wanted, just in case a workmate ever raised an eyebrow about the transfers. She asked me if I would agree to make a short financial test with her (so she could sell me their products, taking into account my tolerance to risk) which I failed on purpose Cheesy

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I have never had any problems so far, but it is true that I always try not to exceed some reasonable limits per transfer.

Anyway, I think that it could be a good piece of advice to use P2P services instead of directly withdrawing from crypto exchanges, as it is true that some banks don't like the latter, but wouldn't notice anything odd in a reasonable amount of transfers between individuals.

boyptc

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Quote from: Fesatmas on January 19, 2021, 10:56:48 AM

Quote from: boyptc on January 19, 2021, 09:38:28 AM

I've heard that some banks are too strict when your account suddenly gained a lot of money and they'll actually investigate how you did gained the amount.

for this point I have experienced it as a bitcoin user from 2015, and 2017 the balance in my account is quite surprising for bank workers because of its very suspicious value. at the same time the account was locked for several days to explain where I got the money. I say out loud, it's because of bitcoin and I earned it hard for the last 2 years.
On the other hand, perhaps the bank could not do anything because the accusations they made were nil. Grin

Before when a bank staff was interviewing me, I've told her if she knew about bitcoin but she said no. That was a couple of years ago I think and for sure today, they're aware of it.

And at least they've got an idea how some of their customers are gaining deposits if they ever say that it's from bitcoin investment.

so98nn

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I am not sure in what reference it is due to improper information but my Indian account is good so for. However, the volume that is going into the bitcoin very very tiny. This could be the reason no one looked at it at all.
Most of the people here are salaried and doing bitcoin stuff side by side. As per my knowledge bank accounts associated with the salary accounts are not closed at banks discretion but only if employer wants to do so. Perhaps there is also big security of couple of exchangers who operates with complete legality and thus do not let down their customers at all. All you have to do is take precautions while remarking your transactions.
So no withholdings so far!

nelson4lov

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Quote from: ashler on January 19, 2021, 08:06:31 AM

From which amount did your bank retained your money and asked you to supply additional documents etc? 10K+? 100K+? they never retained your amount? Planning to book partial profits and want to know others experience.

Please mention the country you reside if possible (if not, at least the continent). Thanks!

I handled some P2P Bitcoin trades between 2016 - 2018 with someone in my country (Nigeria) so I used my bank to handle for NGN payments. Unfortunately, the bank restricted my account on more than one occasion that I exceeded the limits and called me in to submit further verification documents which I did.

Anyway, they eventually raised my limits but there's still some limits so I always try not to go above those limits. In my experience, banks tend to retain/freeze up the accounts if you don't have enough proof about source of the funds or any other similar reason.

ashler

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Quote from: Fesatmas on January 19, 2021, 10:56:48 AM

for this point I have experienced it as a bitcoin user from 2015, and 2017 the balance in my account is quite surprising for bank workers because of its very suspicious value. at the same time the account was locked for several days to explain where I got the money.

was just the bank or they involved the tax office?

Fesatmas

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Quote from: boyptc on January 19, 2021, 09:38:28 AM

I've heard that some banks are too strict when your account suddenly gained a lot of money and they'll actually investigate how you did gained the amount.

for this point I have experienced it as a bitcoin user from 2015, and 2017 the balance in my account is quite surprising for bank workers because of its very suspicious value. at the same time the account was locked for several days to explain where I got the money. I say out loud, it's because of bitcoin and I earned it hard for the last 2 years.
On the other hand, perhaps the bank could not do anything because the accusations they made were nil. Grin

stompix

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Quote from: ashler on January 19, 2021, 08:06:31 AM

Please mention the country you reside if possible (if not, at least the continent). Thanks!

I think it will not help you at all to hear that a bank in India has frozen a hundred accounts or that no Japanese user has encountered problems with Mizuho Bank as even if you would manage to open an account with them you would still have problems when sending back the funds in your country if your bank is making of the habit of over enforcing AML procedures.

So, seeing you're from Slovakia, you should ask what bank operating there has no problem with bitcoin-related transfers.
Don't know the situation there but here in my country I've dealt with two banks from the list of those present in Slovakia also (Raiffeisen and ING) with no hiccups till now, but only once was the sum over E10k.
Of course, cases and cases, I've heard about bad experiences with them for other users and no problems at all from others.

boyptc

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Quote from: ashler on January 19, 2021, 08:06:31 AM

From which amount did your bank retained your money and asked you to supply additional documents etc? 10K+? 100K+? they never retained your amount? Planning to book partial profits and want to know others experience.

Please mention the country you reside if possible (if not, at least the continent). Thanks!

Never experienced this on my bank account.

I've heard that some banks are too strict when your account suddenly gained a lot of money and they'll actually investigate how you did gained the amount.

If you can deposit your profits to your bank account a little by little, I think they won't notice that although it will consume you time.

ashler

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Quote from: jackg on January 19, 2021, 08:15:47 AM

What country are you in?

I am in the EU

jackg

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What country are you in?

I've done fine with using bank accounts in the UK, exchanges seem to be more temperamental/demanding though such as requesting kyc more than once. I'd assume the eea, uk, nz, aus, cad and Singapore are best for doing transfers.

ashler

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From which amount did your bank retained your money and asked you to supply additional documents etc? 10K+? 100K+? they never retained your amount? Planning to book partial profits and want to know others experience.

Please mention the country you reside if possible (if not, at least the continent). Thanks!

Topic: Bank withholding funds? - page 2. (Read 360 times)