Problems with banks you have faced - page 8.

Assface16678

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Quote from: gantez on November 01, 2018, 04:45:03 PM

My issue with them is that even while you are not in the bank but has been registered with a particular bank, they still deduct money which they call charges etc but cryptocurrency is not like that as we know.

This os true. Banks continually take charges to the thimgs they are dealing. With you having money im the bank, they make sure that even if you do not move it or do something into it, they will have profit or they will gain something. Which is the total opposite of bitcoin.

PM.coins

sr. member

Activity: 616

Merit: 250

There are many obstacles in the bank, one of which is when you want to withdraw large amounts of money it must be troublesome. In terms of requests to take one or two days in advance to notify the bank and also the security risks of off-bank crime, an example of a robbery crime. I think cryptocurrency is indeed much more efficient.

zubrr51

member

Activity: 294

Merit: 11

If there were cryptocurrencies, then I would not have a problem with the depreciation of money in the bank deposit.

131tc01n

sr. member

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The bank has a substantial fee when it wants to transfer money to another account, the bank has a monthly fee that might cut our savings quite a lot. Of course when we deal with banks, we must talk about fees

Ezenwanyi

copper member

Activity: 336

Merit: 1

The beaurucratic protocols.
Excessive transaction charges.
The bottlenecks to obtaining loans on time.
The attitude of some bank staffs.
I hate the long queues while trying to deposit money....I can't stand those.
The high interest rates on loans and miserable interest rates on lending deposits like fixed investment etc.

Desscount

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Quote from: javadsalehi on November 01, 2018, 02:43:55 PM

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.

I think this is irrelevant to be a comparison, of course we have different problems for banking or bitcoin. each has its own advantages and disadvantages.
but in fact someone will withdraw money from the bank to invest in crypto. and vice versa someone will withdraw bitcoin and exchange it for fiat money.

ShowOffoN

newbie

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I used to have a sub account before was attached to the main account. I opened it online and that's where I was transferring my savings that I get from the main account which was my payroll account. I had it for years as I was saving to buy a car back then. When I was just a few days away from withdrawing it to pay my car, lo and behold! It was closed by the bank without a warning and my funds for the car were locked down. Of course I panicked and called the bank immediately who said that they don't allow sub accounts anymore. You can just imagine how hysterical I was. Anyway, to cut the story short, if cryptocurrencies already existed then, the bank would have not access to my funds.

prehisto

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Quote from: javadsalehi on November 01, 2018, 02:43:55 PM

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.

Stupid questions about source of funds even with small amounts of money.
International transfer problems, expensive, extremely slow and sophisticated.
Expensive fees for banking services in general.

bitbunnny

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For a while in my country banks had really big freedom to do almost everything they want in the way they want. From constant increasing of interest rates on loans and credit cards, abuse of personal data and similar. Many people had issues with that, including me and wanted to stop that.
Bitcoin looked like one of solutions for such issues but we couldn't entirely escape from banks because we still depend on fiat money and their services.
Also, some banks that have noticed transactions related to Bitcoin started to make problems to such clients, monitor their accounts and similar.
However, situation is changing for the better, banks don't have such freedom anymore and in the future I hope that such problems will be completely escaped.

Dominic_Johnson

newbie

Activity: 79

Merit: 0

I think this article is applicable here : https://ethereumworldnews.com/brazil-cryptocurrency-wins-court-orders-banks-to-reopen-exchanges-accounts/

GreatArkansas

legendary

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For me, specially when I started crypto , some of my banks here in the Philippines started to questioned me, they are very strict when it comes to crypto. They want me to come to their office and talk about my account, they ask where my funds are going or where they are from, and I told it that I am connected with crypto.

Biet12

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Activity: 146

Merit: 1

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there are a lot of difficulties in the bank, moreover the bank limits the taking of money in the account, many more that make us have to take care of this and wait very long

coinwizard_

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To be honest i have not had a problem with the bank itself, but there are problems with the investment bankers who use our money to gamble on the stock exchanges and then use our tax money to bail them out. Won't happen with crypto

Teawhalee

copper member

Activity: 482

Merit: 1

Honestly the banks is just a mean to exploit the general public, they do these in so many ways that inconveniences the majority. One way is the issue of transaction speed which takes some time to deliver, another is transaction fee and account maintainance fee, also the minimum balance fee, third party issues, lack of freedom and many more. All these are solved by blockchain and bitcoin. These is simply why banks will always lag behind.

mizamuneerashine

jr. member

Activity: 364

Merit: 1

jarvis.exchange

If you fall below your maintaining balance you have to pay the bank charges and opening a bank account such a tedious process.

Diva1993

copper member

Activity: 84

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Custom Contract Network (CCN)

I am presently facing this issue, I bought bitcoin from somebody online, I sent the funds to the person and he sent me the bitcoin, I discovered later that I was debited twice for the transaction and now my bank is saying that they need the person's permission before the money can be reversed while the person is saying that he didn't receive my payment twice, if it were Blockchain, I could easily trace the transactions and know the wallet that the money is, I would know if the guy is trying to cheat me or if my bank is trying to do the same.

Zrs

sr. member

Activity: 299

Merit: 250

The most problem using bank transaction is it needs long process if you transfer from one country to another.In that case bitcoin needs couple of steps to receive money.Bitcoin is peer to peer transaction which is awesome.

calandra78

copper member

Activity: 840

Merit: 114

I have selling product using fiat on bank. even when have sold product
at weekend, i can not withdraw my money. because bank only bussines
day operated.when i am using bitcoin payment, every time, every day

gudjhonson

member

Activity: 434

Merit: 10

Indeed, storage at the bank will be subject to administrative fees every month and it has become a risk and bank policy, for customers it is reasonable but when it is not able to fill, the deposit will eventually run out too. This is an investment that is able to run out and eventually disappear.
Bitcoin is able to provide benefits because it continues to grow well.

Cruxer

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Activity: 184

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Bitcoin FTW!

Quote from: javadsalehi on November 01, 2018, 02:43:55 PM

Problems with banks you have faced

actually not anything worth mentioning, maybe transaction speed which bitcoin is better always except bubble times when confirmation times sky rocket
other than that nothing

Topic: Problems with banks you have faced - page 8. (Read 1967 times)