Author

Topic: Bitcoin Friendly/Unfriendly Banks (Read 2119 times)

global moderator
Activity: 3990
Merit: 2713
Join the world-leading crypto sportsbook NOW!
January 04, 2014, 08:17:33 AM
#4
What exactly were you doing to get your accounts closed?

Too many cash deposits? Out of state deposits?

Can anyone suggest a U.S. bank that they have good experiences with, regarding bitcoin?
I have had good luck with a new TD Bank account for cash transactions from localbitcoins.

But then again, I've also had good luck with Chase and Wells Fargo, the only difference being that those were well established accounts.

Edit: FinCEN and other govt. agencies have published guidelines (intended for banking compliance) on how to detect money laundering and transaction structuring patterns. You should read these so as to understand what kind of triggers the banks might have put in place ... and to avoid tripping them.

Sometimes it can just be down to "suspicious activity", which is ominous and ridiculously large 'definition' to it. I guess some banks just won't like Bitcoin or are suspicious of money laundering.
donator
Activity: 1617
Merit: 1012
January 04, 2014, 07:49:50 AM
#3
What exactly were you doing to get your accounts closed?

Too many cash deposits? Out of state deposits?

Can anyone suggest a U.S. bank that they have good experiences with, regarding bitcoin?
I have had good luck with a new TD Bank account for cash transactions from localbitcoins.

But then again, I've also had good luck with Chase and Wells Fargo, the only difference being that those were well established accounts.

Edit: FinCEN and other govt. agencies have published guidelines (intended for banking compliance) on how to detect money laundering and transaction structuring patterns. You should read these so as to understand what kind of triggers the banks might have put in place ... and to avoid tripping them.
legendary
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
January 02, 2014, 08:28:56 PM
#2
Just noticed this post and nothing really friendly that I know of, alas.
newbie
Activity: 3
Merit: 0
November 20, 2013, 01:59:18 PM
#1
This is my first post here so bear with me.  I know there is a pretty good list of bitcoin friendly/unfriendly banks here:

https://bitcointalksearch.org/topic/list-of-bitcoin-hostile-and-friendly-banks-264679

But I can't post there because I'm just a poor little newb with not 2 posts or 1 hour browsing.

Anyways, I sell bitcoins over at localbitcoins.com and I figured I'd tell my experiences with 3 banks.

I started with Wells Fargo, who I had banked with for about 3 years before I got into bitcoin.  After about 3 months (and really, when I finally started getting some sales), they closed my bank account, waited about 3 weeks and emailed me a check.  Absolutely no respect for me.  I then opened a SunTrust account and a Chase account within a few weeks of eachother.  I've had no issues with SunTrust, but Chase has recently closed my account (pretty much the same deal with Wells Fargo), though they said the check should come in only 10 days.

Can anyone suggest a U.S. bank that they have good experiences with, regarding bitcoin?
Jump to: