RBC closed my commercial bank account for having Bitcoin related activities. - page 3.

Bobsurplus

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Making money since I was in the womb! @emc2whale

Quote from: Cryptolator on March 05, 2014, 01:46:32 PM

Quote from: CoolIT on March 05, 2014, 01:37:45 PM

I hate to admit I didn't put much research on the matter.

I know Vancouver has bitcoin ATM's, Tigerdirect.ca is not the size of newegg, but still very popular and accepting bitcoins.

I wouldn't think it's bad personally... All I know that has dropped to sh!t is our leadership... specially for me...
I got a retard for Quebec PM who wants to separate and offend all ethnic groups and a puppet for Canada that destroyed our reputation of piece keeping and our scientific communities in order to pollute the environment...

Sorry... I got carried away there.

I'm a separatist but not the way the PQ want to do. I simply wanna have the control of our destiny and do that project with ALL of the peoples living in Quebec. I want us to be able to decide by ourself of our Laws, Treaties and collecting tax for ourself and using it on things that really matters. We'll still be friend with Canada and have a nice relation, but we'll be able to act in our own interest. Grin

I don't want to get into this too much but you do realize what would happen if Pauline got her way, had a referendum and Quebec split from Canada.

Quebec would fall apart, all the people with money, French or otherwise would leave Quebec and take their money and Quebec would be left with a bunch of broke French people who no future to be had.

separatism is not the stance I`m taking and neither should you take that stance but it`s a free world so vote as you wish.

Bobsurplus

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Making money since I was in the womb! @emc2whale

Quote from: CoolIT on March 05, 2014, 01:20:04 PM

Canada only has a handfull of banks.

TD - Toronto Dominion (I think)
BMO - Bank of Montreal
RBC - Royal Bank of Canada
Banque National
Caisse Desjardins
Banque Laurencienne

perhaps some others, I just listed the ones that are popular in Quebec/Montreal

I personally exclussively deal with TD only and have never had an issue... granted I am one of the smallest of small fries in the bitcoin world... just direct depositing miniscule amounts of cash from cavirtex.

You can add Scotia Bank and CIBC to that list.

seriouscoin

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If this what banks want, we can start forming our credit unions: http://www.ask.com/question/how-do-i-start-a-credit-union

Look up on laws and regulation and seek for bitcoiners investment.

jamal01

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Quote from: niothor on March 05, 2014, 02:52:38 PM

Quote from: traderman on March 05, 2014, 02:38:02 PM

I will keep saying this until I am blue in the face. Fiat and Bitcoin will not mix, the banks will never allow it because it will make them obsolete. What part of that do people not understand? Bitcoin was designed to replace the fiat system and here we have people trying to integrate the two, LOL. It will not happen!!!! Make no mistake, this will be an all out war between the banking system and Bitcoin.

Without banks , bitcoin wouldn't have reached 1000$.
90% of the trading is done with money sent via banking systems.

And don't fool yourself , even with fiat money gone , banks will still be there.

As much as people say it, banks will never become obsolete. As much as I love Bitcoin I think the belief that crypto can replace all fiat is far fetched. They are a necessary evil. As to there motivations behind closing bitcoin related accounts? Possible that they do not understand it, or feel that Bitcoin can reduce their profits.

Either way, it is pretty disappointing. I myself have been trying to set up a Bitcoin related business and have been looking to which bank to use.

aztecminer

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Quote from: Cryptolator on March 05, 2014, 01:05:45 PM

I just got a call from RBC (Royal Bank of Canada), they said that they closed my commercial bank account because my activities are related to Bitcoin.

I don't even sell or buy Bitcoins. I create physical encapsuler for physical cryptocurrencies (Not yet released).

I will close all my account at RBC and never deal with those scared crooks anymore.

I would suggest anyone having account with RBC and believing in Bitcoin to do the same.

I'm really angry right now !

Anyway, I needed to share that with you.

Would like to have your thought on that.

Please up vote on reddit:
http://redd.it/1zn5on

well that was dumb of them ..

they shoulda kept u for their bail-ins they gonna do soon ..

Lauda

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Terminated.

Quote from: spazzdla on March 05, 2014, 02:47:55 PM

THis makes me want to close my RBC accounts.... :S.. Seems like they might just do it to me. This would be the third time RBC has screwed me.

Then close it, better safe than sorry.

niothor

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in defi we trust

Quote from: traderman on March 05, 2014, 02:38:02 PM

I will keep saying this until I am blue in the face. Fiat and Bitcoin will not mix, the banks will never allow it because it will make them obsolete. What part of that do people not understand? Bitcoin was designed to replace the fiat system and here we have people trying to integrate the two, LOL. It will not happen!!!! Make no mistake, this will be an all out war between the banking system and Bitcoin.

Without banks , bitcoin wouldn't have reached 1000$.
90% of the trading is done with money sent via banking systems.

And don't fool yourself , even with fiat money gone , banks will still be there.

jamal01

newbie

Activity: 10

Merit: 0

Quote from: spazzdla on March 05, 2014, 02:47:55 PM

THis makes me want to close my RBC accounts.... :S.. Seems like they might just do it to me. This would be the third time RBC has screwed me.

Are you selling bitcoins? If you are guaranteed they will eventually. Happened to me - and only a matter of time until localbitcoin vendors can only accept cash in person.

spazzdla

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THis makes me want to close my RBC accounts.... :S.. Seems like they might just do it to me. This would be the third time RBC has screwed me.

Lauda

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Terminated.

Quote from: Armis on March 05, 2014, 02:41:10 PM

do a search for 1st bitcoin bank in the world, you will see a listing then in the listing it will refer to an earlier bitcoin bank with a name like 'bitcom bank of islam' they do interest

I'll try to find them again

here is one: https://bitcointalksearch.org/topic/islamic-bank-of-bitcoin-21732

We need one somewhere like in the US, Canada, UK.

Cryptolator

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Quote from: traderman on March 05, 2014, 02:38:02 PM

I will keep saying this until I am blue in the face. Fiat and Bitcoin will not mix, the banks will never allow it because it will make them obsolete. What part of that do people not understand? Bitcoin was designed to replace the fiat system and here we have people trying to integrate the two, LOL. It will not happen!!!! Make no mistake, this will be an all out war between the banking system and Bitcoin.

I do understand, but what I'll be selling is to facilitate having secure storage for Bitcoin. I'm not selling or buying Bitcoin. I think that being able to buy it with fiat make it simpler for a lot of peoples.

Armis

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Quote from: Lauda on March 05, 2014, 02:36:15 PM

Quote from: Armis on March 05, 2014, 02:35:08 PM

Quote from: Lauda on March 05, 2014, 02:32:38 PM

We should open the Bitcoin Bank?

there are two in the world that I know of.

Provide links.
Where?

do a search for 1st bitcoin bank in the world, you will see a listing then in the listing it will refer to an earlier bitcoin bank with a name like 'bitcom bank of islam' they do interest

I'll try to find them again

here is one: https://bitcointalksearch.org/topic/islamic-bank-of-bitcoin-21732

traderman

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I will keep saying this until I am blue in the face. Fiat and Bitcoin will not mix, the banks will never allow it because it will make them obsolete. What part of that do people not understand? Bitcoin was designed to replace the fiat system and here we have people trying to integrate the two, LOL. It will not happen!!!! Make no mistake, this will be an all out war between the banking system and Bitcoin.

Lauda

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Activity: 2674

Merit: 2965

Terminated.

Quote from: Armis on March 05, 2014, 02:35:08 PM

Quote from: Lauda on March 05, 2014, 02:32:38 PM

We should open the Bitcoin Bank?

there are two in the world that I know of.

Provide links.
Where?

Peter R

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This is another example of anti-fragility at work. Resistance from banks pushes innovators to prefer transacting on the blockchain, further severing the link to fiat and expanding the bitcoin-to-bitcoin economy.

Armis

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Quote from: Lauda on March 05, 2014, 02:32:38 PM

We should open the Bitcoin Bank?

there are two in the world that I know of.

Cryptolator

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Quote from: Lauda on March 05, 2014, 02:32:38 PM

We should open the Bitcoin Bank?

I'm in !

Lauda

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Terminated.

We should open the Bitcoin Bank?

CryptoPanda

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It's funny how big institutions can act like scared idiots.

jamal01

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Merit: 0

Quote from: Cryptolator on March 05, 2014, 02:14:24 PM

Quote from: jamal01 on March 05, 2014, 02:06:43 PM

Out of curiosity - were you making excessive deposits by any chance? Or was the bank just account pretty much inactive, and the description was just related to being a Bitcoin business?

The name of the company is Cryptolator Cryptomonnaies Physique (in english it would be: Cryptolator Physical Cryptocurrencies) so that is probably the problem and why it has been flagged.

Anyway when I registered the account they asked a lot of question on what would be the purpose of the company and what I'll be selling, I didn't want to lie and have problem later.

The account was inactive for the moment..

Wow so they are actively seeking out Bitcoin companies and preventing them from operating...crazy. Not surprising but still disappointing.

Not sure if you have any DC Banks there but look into them. Cavirtex uses them so they are likely bitcoin friendly.

RBC is known to hate Bitcoin - the way they just shut down Cavirtex and refused to let the company hold a bank account with them was crazy. TD as well - you can tell by the fact that they removed VOGOGO as a bill payment option (it is used to import CAD into Cavirtex)

It is sad but this is the world we live in

Topic: RBC closed my commercial bank account for having Bitcoin related activities. - page 3. (Read 5867 times)