Topic: Problems with banks you have faced - page 5. (Read 1954 times)
I have recently learned about hidden fees bank charges when you open an account. They are small and considered to be a protection fee. But adding up a lot of such small fees can amount to a significant sum of money. The most revolting thing is that these fees are optional, but banks intentionally make them hidden and don’t let you know that you don’t need to pay them.
One of the issues I have had with my local bank is extortion. In my country money, you have in the bank will be diminishing instead of growing even when you are not withdrawing from such money. This is as a result of deductions from the account which is done monthly. Can you imagine where you are charged for SMS to your phone from the bank, or what they called stamp duty which is withdrawn monthly. There suppose to be an interest earned by the money in your account that will never be added.
I was simply blocked by my account and it took two weeks to restore it. with crypto-currency and bitcoin this would never happen
Before I also faced same incidents, having some issue with banks transactions to the point that account being freeze and needs to have a goodexplanations and proofs, if bitcoin exist back then it might not happen as I can directly send my funds to a remittance center and withdraw my
balanse without having any problem and keep my money inside my wallets without using any banks.
Banks may block or freeze your account if the operation seems to be "suspicious." Banks also can even steal some money from you under any pretext. That's why "decentalized btc" is needed.
I was simply blocked by my account and it took two weeks to restore it. with crypto-currency and bitcoin this would never happen
Hidden charges, no activity fees (if your money is sitting idle, no cash in or cash out for 3 months, you need to pay penalty), the minimum balance thing, too much time at the counter, and the common problem - the bank people never want to listen to you, they just start telling some bullshit that is not even related to your problem just after you say 3/4 words of a sentence.
One simple example is the requirement of keeping a minimum balance to maintain an active bank account. In my country, if I want to keep an active savings bank account, I will have to maintain a minimum balance of 10,000 INR. If I fail to maintain that amount, bank will deduct charge of 150 INR for each day and that money will be recovered from your bank account.
Lets assume, your account balance is 9,500 INR on 1st November. Bank will deduct 150 INR non-maintenance change from that same account. So on 2nd November, your balance will become 9,350 INR.
So if you want to refill your bank account on 2nd november, you will have to add 650 INR to your bank account! That's an organized loot!! It's your money but bank will not allow you to withdraw it even in case of an emergency!! If you do, you will have to pay charges for withdrawing your own money!
I have lot of other examples available because I used to work in a closely related sector. That's just a teaser for you!
Lets assume, your account balance is 9,500 INR on 1st November. Bank will deduct 150 INR non-maintenance change from that same account. So on 2nd November, your balance will become 9,350 INR.
So if you want to refill your bank account on 2nd november, you will have to add 650 INR to your bank account! That's an organized loot!! It's your money but bank will not allow you to withdraw it even in case of an emergency!! If you do, you will have to pay charges for withdrawing your own money!
I have lot of other examples available because I used to work in a closely related sector. That's just a teaser for you!
This is true. I really hate it when those banks keeping those maintaining balance. I am not sure why they have to implement this. Its fine with me if there a minimal maintaining balance. But most of this banks required you to have a month salary (minimum) maintaining balance. I encountered many situations from friends and family that they loss all their keep saving because they go below the limit of their account. Is this the way some banks earn? How about their costumes?
When people talk about the benefits of bitcoin over Fiat money, one of the biggest advantages is that bitcoin is more secure and the bank has not control over your money. Generally, people talk about the lack of 3rd party.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.
Not really secure. Fiat money and cryptocurrency money have imperfections. No matter what you use, there is still a probability that your funds may get stolen by someone else. Meaning, as much as possible we have to do precautionary measures in order to reduce the risk of getting your funds stolen.
In the problems of the Bank and Cryptocurrency can not be separated from the innovation and advancement of digital technology which is currently developing more widely in modern human life today.
like in a Bitcoin transaction, there is no credit card number that can be collected, with Bitcoin it is possible to make anonymous transactions or without revealing your identity at all, with an efficient Global Payment method.
Example:
Bitcoin can be transferred from one bank to another within 10 minutes.
= (There is no bank that slows down the process),
= (There are no expensive fees),
= (There is no freezing of funds),
= (No one will ask where the money comes from and what the purpose of the transaction is).
in this case Bitcoin users, cross-continent transfers are as easy as making transactions with your next-door neighbor.
In essence, banks and crypto also need to understand the risks of potential cyber attacks and the privacy of their own users and remain vigilant during transactions.
like in a Bitcoin transaction, there is no credit card number that can be collected, with Bitcoin it is possible to make anonymous transactions or without revealing your identity at all, with an efficient Global Payment method.
Example:
Bitcoin can be transferred from one bank to another within 10 minutes.
= (There is no bank that slows down the process),
= (There are no expensive fees),
= (There is no freezing of funds),
= (No one will ask where the money comes from and what the purpose of the transaction is).
in this case Bitcoin users, cross-continent transfers are as easy as making transactions with your next-door neighbor.
In essence, banks and crypto also need to understand the risks of potential cyber attacks and the privacy of their own users and remain vigilant during transactions.
I only use the Bank to hold the money. I don't take out loans, mortgages, etc. And I think to keep money in bitcoin much more profitable. In addition, the Bank I need to pay large fees for transfers and storage. Therefore, I prefer bitcoin.
That's right, I agree with you about that, compared to the bank, my bank only used to store money for people around me to see, and bitcoin I still invest and use to do things besides storing money, but not. safe or profitable like bitcoin but it helps me a lot.
Biggest problem with the banks is the waste of time one should have to walk through to get a service. And after all this got currency in hands but not safer then digital as it can cause roberry etc. Digital currency can not be robed.
I do not think as you said, I for example, if there is a robbery happening at the bank you are storing money, I bet your money will be lost, no matter if you lose money or not but still have can But say banks around the world are fraudulent, recalculate the rate I have not seen, expect you to think again.
read this one today...
https://www.cbc.ca/news/business/woman-fights-bank-for-financial-records-1.4895631
Every banking complaint is another advertisement for bitcoin.
https://www.cbc.ca/news/business/woman-fights-bank-for-financial-records-1.4895631
Quote
The banking complaints system is surrounded by secrecy and dominated by the banks, says Wanda Morris, a consumer advocate with CARP.
"We're at a crisis," says Morris, who would like to see a major overhaul of the system.
"We're at a crisis," says Morris, who would like to see a major overhaul of the system.
Every banking complaint is another advertisement for bitcoin.
When people talk about the benefits of bitcoin over Fiat money, one of the biggest advantages is that bitcoin is more secure and the bank has not control over your money. Generally, people talk about the lack of 3rd party.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.
I went in bank and tried to open an account but bank manager declined my application because when she asked me what is my resources of fund, then I told her that I'm a bitcoin/crypto trader online, in short I worked as freelancer home based online. She said that I need that will prove that I earned fix every month, they after with the certification from the company ton whom I get my fund/money then I said I don't have any company. and because of that I failed to open an account.
When people talk about the benefits of bitcoin over Fiat money, one of the biggest advantages is that bitcoin is more secure and the bank has not control over your money. Generally, people talk about the lack of 3rd party.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.
I was experienced to lost my money through my Credit card used by someone who cash out in different location so I decided to quit my credit from bank and focus in bitcoin crypto currency. not only that there was sometimes that there is a bank declared Bankruptcy and allegedly our money is not 100% money back guarantee.
if we want to money then should go for bank and there are restriction in deposit and withdraw. and we need to wait for some times.
hmm, i dont have any problem with some bank, i think if the problem on the bank that bitcoin can't do I think the loan, in the bank we can get some loan, how about bitcoin? i think we can't get some loan in bitcoin
Banks have too many administrations that must be processed and not too transparent. I have experienced a double withdrawal of money but even though I only drew my cash once and this is really not relevant at all with the amount I took
Two years ago I was an employee of a bank that went bankrupt. Naturally, all of his clients suffered, and first of all those who had a deposit with the bank and current accounts that held money. The state was able to return only some of the deposits to them, and the rest of the money was gone. If they were invested in, say, Bitcoin, many of the victims could increase their assets several times.
bank have fee that you paid every month if you save your money in there. they will cut your money to some operational, and you cant withdraw all of your money, you must save some portion.
people will complain about their deposit, transfer, or the other thing that make someone must be go to their place to make it clear. and it take much time to wait in line for some trouble
people will complain about their deposit, transfer, or the other thing that make someone must be go to their place to make it clear. and it take much time to wait in line for some trouble
When people talk about the benefits of bitcoin over Fiat money, one of the biggest advantages is that bitcoin is more secure and the bank has not control over your money. Generally, people talk about the lack of 3rd party.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.
Give some examples of the problems with banks you have faced that there wouldn't be if cryptocurrencies existed that time.
I hate it whenever I have to visit the banking hall.The long queue alongside terrible customer services from the employees are terrible. With Bitcoin, I can get everything done within seconds.
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