Topic: Problems with banks you have faced - page 3. (Read 1954 times)

Banks have minimum balance which you have to consider and if you fail to do so it will cost you charges. Also banks have hidden charges.

I have experience alot of hassles from performing transactions with bank ranging from the high cost of fee, submitting so many personal detail but the one I very much dislike is the slow time before a transcation can go through especially when it's to another country

International transfers are delayed. Plus charges are really huge.

Bank charges are eliminated with cryptocurrencies. The transaction fees charged on cryptocurrencies transactions are way cheaper than what is charged by the banks

The biggest problems that I have faced with banks is how slow they can be especially on the weekends, bitcoin in the other hand is way faster than that because you can decide how fast you want your transaction to be confirmed thanks to the fee that you are paying to the miners.

Well even though I didn't experience it but the demonetization occurred to the Indian people yesterday was a pretty hard blow to their government and also to the bank throughout the world and it’s not a secret anymore that the government will back up bankrupt banks because it will have an impact on their economy. This is because of business people who got permission and passed rigorous selection but in the end they are destroyed from the inside.

If I send or receiver $10K or more, I get a letter from the taxman asking why / where the money is coming from. Anti-money-laundering thing. It annoys me, because what if someone is actually laundering money... Are they going to reply to the taxman " oh this money is from illegal activity , Ill make you a list of all the transactions "
But they like stepping on the average guy while criminals have their way of making everything look legit... or in some cases they pay off a corrupt govt employee.

I think with regards to a bank there are disadvantages and advantages. The bank are just strict and transactions are controlled due to its own regulations. If we try to compare bitcoin to bank they really differ from each other. I think it's just a case to case basis.

When we save money in the bank that we aim to save our money, what I don't like is that they use our money as they like. The concept of the bank is indeed like that, the goal might be to make everyone able to be helped by borrowing money but it is difficult for them to be able to pay off any money they borrow because it is blocked by interest. They only regulate the money we save only for their own interests, borrowing is only a tool for them to extort every person who borrows.

GToo many restrictions and controls, I have experienced problems when do transfers have been disrupted on my account written already sent, but in someone else's account has not been received, we cannot see transactions transparently, it is difficult to deal with such problems, and there are many other problems with the bank, different from bitcoin which is very good and free for me

Bitcoin has come a long way in the eight or so years it's been in existence, but there's still a long way to go before the digital currency becomes a widely used method of paying for goods and services. Here are seven of the biggest challenges facing mainstream adoption of bitcoin, and what would need to happen for consumers to start using the digital currency on a large scale.

To be fair, it has gotten much easier to buy, sell, and use bitcoin over the past several years, but it still isn't user-friendly enough to encourage mainstream adoption. Currently, if the average person wants to buy bitcoin, he or she needs to open an account at a bitcoin exchange such as Coinbase, link a checking account (or credit card, which generally comes with a higher fee), and in many cases wait several days for the transaction to clear. I consider myself knowledgeable about bitcoin, and I can buy virtually any product online with greater ease than I could buy, say, $200 in bitcoin.

If you buy bitcoin and then sell it for more than you paid, you'll need to report the difference on your taxes. Even worse from a currency perspective, every time you use bitcoin to buy something, it is a potentially taxable event. For example, if I pay for a $5 cup of coffee with bitcoin that originally cost me $4, that dollar in profit is technically a capital gain. As you might imagine, this situation can create the need for an exhausting amount of record-keeping, and bitcoin users have three choices: Keep detailed records of every bitcoin purchase and transaction, risk getting into trouble with the IRS, or don't use bitcoin at all.

Kyc is the main problem for me and they tend to block out of your money sometimes, then you have to take drive to their bank to solve it.

The problems with bank is they are requiring their clients to comply first to give the important documents before making any transactions with them. Because once you are incomplete with it, they will not allow you to give your money. And aside from that, they are not aware about in cryptocurrency or they may heard it but they won't accept it as valid source of your income because they are demanding any certification from the company from which you are getting your resources.

The biggest problem we face is this. That bank considers Bitcoin as an illegal currency. Because of which we have to face difficulties in using bitcoin.

I find that banks charge high fees. I ever send one remittance overseas and it cost me $300 to remit $15,000. It takes 1 day but because of different time zone, the amount was credited to the beneficiary account on the next day.

Both has different ways and process. Banks in other hand has some kind of slow transactions because of the teller personnel and might be the bank system as well as some other contributing factors that we may add. In the other side btc transfer also take few minutes to an hour before the transactions complete the two has advantages and disadvantages but it is up to us how we handle and adjust each flaws according to the urgency of the transactions we transact .

They are just arrogant in my opinion,they are living with our money but they still treat like a slave to them.I have banking at old age but now after after the internet banking came I used banking for all my purpose but before that only transacted as hot cash.

you said taking few minutes ? i thought big no , bcz if you knew currenctly if you send a bitcoin you will wait for hour
because a lot of miner stop mining the bitcoin or any alt
you can try if you dnt believe

Problems with banks are boring, because they wait and there are some procedures that are clearly annoying, unlike using bitcoin. Transactions with bitcoin are very short and cheap, like having a bank. Only send from e-wallet owner to e-wallet recipient. It takes a few minutes.

Of recent i did a transaction on ATM machine from another Bank and the funds got stuck without any reason, so, i decided to visit my own Bank for the transferred fund and was told that my fund was hanging, and asked to fill a form which i did. Then later they told me that my fund were not hanging that, they have not find the said fund i was told. Till now the issue has gotten them to court and hopefully my fund be refund back to my account. This happenings has not be found with Bitcoin transaction, just my little opinion.