So.. Chase shutdown my College Checking account

DrG

legendary

Activity: 2086

Merit: 1035

Quote from: peeveepee on July 27, 2014, 01:04:29 AM

Just register a company and get a bank account under that company name.

When you do this they still tie the CEO/President's SSN to the company as that person is ultimately liable to the company's debts. I know people think incorporating protects their assets from the company's losses but it really doesn't for most small businesses. If his SSN is flagged then he won't be able open an account for 7 years if it's in the Chex system. I'm not sure how long the security alerts stay in effect.

peeveepee

full member

Activity: 211

Merit: 100

Just register a company and get a bank account under that company name.

mnmShadyBTC

full member

Activity: 151

Merit: 100

Quote from: applesRyummy on July 20, 2014, 01:15:30 PM

Quote from: 300 on July 19, 2014, 11:51:35 PM

I actually have five bank accounts. If any one of them decides to do something funny like the OP's bank, I could just spread the money around or close that account. It's a free market after all.

Strange to hear that a bank doesn't like its customers keeping too much money with them though. It's kind of like a supermarket getting mad at someone for buying too much groceries. You'd think that it would be great business for them.

Banks need to adhere to certain regulations. If a bank's compliance department determines that an account is too risky then the compliance department will have the account closed.

I agree, in most of the cases of bank accounts that are associated with bitcoin being shut down, they are being shut down because of AML concerns not because banks are opposed to bitcoin.

Window2Wall

full member

Activity: 191

Merit: 100

Quote from: ?? on ??

Quote from: WEB slicer on July 20, 2014, 05:09:35 PM

9/11 is technically the excuse they used to pass the patriot act. it's suppose to be fighting funding for terrorism, money laundering, and tax evasion. but the laws apply to every day citizens that are doing nothing wrong. banks are required by law to report any cash deposits over 10K, recurring deposits, recurring international wire transfers, or any other suspicious activity. chase isn't to blame, they are just following the law. the problem is the law makers.

http://en.wikipedia.org/wiki/Patriot_Act

Yes, who would have thought the people dying in the 9/11 attacks would be the small crime rather than the large one?

9/11 was funded by people and executed by people who other then hijack planes committed very few crimes and were able to stay under the radar. A lot of the patriot act makes it harder to stay under the radar.

freedomno1

legendary

Activity: 1834

Merit: 1094

Learning the troll avoidance button :)

Quote from: joshv06 on July 26, 2014, 05:23:28 PM

Quote from: williamj2543 on July 23, 2014, 06:07:50 PM

Now this is is why bitcoin is the future. Banks are just evil

PayPal pulled a Chase and closed my account because I sell stuff on my site:

Skidhacker.com

They said that hacking is illegal and all this BS and that they forwarded my info to the Govt. And that they were gonna send me a check.

Looks like only Bitcoin and cash.

I hate these institutions. We all need to back out from them. Don't let anyone hold your money but yourself. Go Bitcoin

Bankers vs hackers vs crackers classic argument and they wonder why people dislike them so much its a privilege to hold your money not their right to do so, but then again customer service management went to the shitter by the 70's lol.

Thanks for the update how goes the Xapos debit card any update from those guys yet.

btcguys

member

Activity: 112

Merit: 10

Chase would not let me add international wire receipt.

HSBC, TD bank and Wells Fargo are better choice

especially HSBC for international transactions.

Also, I am testing new banking system: www.simple.com

joshv06

hero member

Activity: 991

Merit: 500

Quote from: williamj2543 on July 23, 2014, 06:07:50 PM

Now this is is why bitcoin is the future. Banks are just evil

+1

Just an update. I never got my check in, still waiting.

Also, I got a PayPal debit card to tie to my necessary services like toll way and phone bill.

1 week later, I get an email saying it's deactivated.

PayPal pulled a Chase and closed my account because I sell stuff on my site:

Skidhacker.com

They said that hacking is illegal and all this BS and that they forwarded my info to the Govt. And that they were gonna send me a check.

Looks like only Bitcoin and cash.

I hate these institutions. We all need to back out from them. Don't let anyone hold your money but yourself. Go Bitcoin

williamj2543

hero member

Activity: 588

Merit: 500

Get ready for PrimeDice Sig Campaign!

Now this is is why bitcoin is the future. Banks are just evil

freedomno1

legendary

Activity: 1834

Merit: 1094

Learning the troll avoidance button :)

Quote from: ?? on ??

Quote from: WEB slicer on July 20, 2014, 05:09:35 PM

9/11 is technically the excuse they used to pass the patriot act. it's suppose to be fighting funding for terrorism, money laundering, and tax evasion. but the laws apply to every day citizens that are doing nothing wrong. banks are required by law to report any cash deposits over 10K, recurring deposits, recurring international wire transfers, or any other suspicious activity. chase isn't to blame, they are just following the law. the problem is the law makers.

http://en.wikipedia.org/wiki/Patriot_Act

Yes, who would have thought the people dying in the 9/11 attacks would be the small crime rather than the large one?

All it takes is a small crime to set a large precedent with confounding complications and chilling effects that will affect others for years to come.
Cough Air Travel

WEB slicer

legendary

Activity: 1120

Merit: 1001

1NF4xXDDpMVmeazJxJDLrFxuJrCAT7CB1b

9/11 is technically the excuse they used to pass the patriot act. it's suppose to be fighting funding for terrorism, money laundering, and tax evasion. but the laws apply to every day citizens that are doing nothing wrong. banks are required by law to report any cash deposits over 10K, recurring deposits, recurring international wire transfers, or any other suspicious activity. chase isn't to blame, they are just following the law. the problem is the law makers.

http://en.wikipedia.org/wiki/Patriot_Act

Gimmelfarb

hero member

Activity: 658

Merit: 500

i keep anything BTC-related (or online poker related) in P2P transfer or cash. banks are always doing stuff like this, so i try not to make any transactions that might appear suspicious (international, etc).

applesRyummy

full member

Activity: 126

Merit: 100

Quote from: 300 on July 19, 2014, 11:51:35 PM

I actually have five bank accounts. If any one of them decides to do something funny like the OP's bank, I could just spread the money around or close that account. It's a free market after all.

Strange to hear that a bank doesn't like its customers keeping too much money with them though. It's kind of like a supermarket getting mad at someone for buying too much groceries. You'd think that it would be great business for them.

Banks need to adhere to certain regulations. If a bank's compliance department determines that an account is too risky then the compliance department will have the account closed.

300

member

Activity: 78

Merit: 10

I actually have five bank accounts. If any one of them decides to do something funny like the OP's bank, I could just spread the money around or close that account. It's a free market after all.

Strange to hear that a bank doesn't like its customers keeping too much money with them though. It's kind of like a supermarket getting mad at someone for buying too much groceries. You'd think that it would be great business for them.

transient858

full member

Activity: 153

Merit: 100

Quote from: BoxControl on July 18, 2014, 12:43:41 AM

So would this happen to people that have a normal checking account?

Personal account exceeding certain monthly threshold will be checked.

BoxControl

newbie

Activity: 26

Merit: 0

So would this happen to people that have a normal checking account?

transient858

full member

Activity: 153

Merit: 100

Quote from: ?? on ??

Quote from: transient858 on July 11, 2014, 12:14:20 PM

Personal account isn't suppose to be used for business purpose.

You're joking right? Where does wage income go? What if you sell some stuff on eBay (whoops, made a profit on some shit of more than $600 even after taking into account original costs, now you're a business)? I could go on.

There is literally NO difference between personal and business accounts. About the only thing is that in business accounts, they start to charge per transaction after like 300 or so a month depending on what type of account you have, and those also are usually free.

OP can give more details, but it looked like he was trying to take out too much money, lady saw that "this is a college student account, you are taking out TOO much." OP got pissy, rightfully so mind you, when it would have better to "perform" for wage slave teller. As a result, she flags account.

Want to know what the solution is? Go back to a partnership system with no bailouts. Bank loses money, YOU lose money.

Selling stuffs on ebay required a business account also. Otherwise, you will be flagged and banned once your transaction exceed certain threshold.

counter

hero member

Activity: 798

Merit: 500

Time is on our side, yes it is!

Quote from: reginalkri on July 14, 2014, 02:32:35 PM

Quote from: counter on July 11, 2014, 07:05:23 PM

This is why Bitcoin will be big. The banks like Chase don't respect their customers. They don't have any concern of the inconvenience to you and that is why you were treated like a criminal. When I went to my bank to cash a check I was blown away when they required I give them a fingerprint..

It should be made clear if you have some kind of limit on your account to withdraw and if not previosly stated in the contract you signed when you opened the account then they should have not delayed giving you your money.

Most people are not going to have similar stories as the OP, that will drive them away from the banks. Then there's all the reason why a person might need a bank account, like cashing checks, etc.

I agree with the need for banks in some shape or form for cashing checks but the the system as a whole would have far less people dependent on their service. The average person would only use a bank when they chose to do so for reasons they found suitable to their individual needs.

reginalkri

sr. member

Activity: 285

Merit: 250

Quote from: counter on July 11, 2014, 07:05:23 PM

This is why Bitcoin will be big. The banks like Chase don't respect their customers. They don't have any concern of the inconvenience to you and that is why you were treated like a criminal. When I went to my bank to cash a check I was blown away when they required I give them a fingerprint..

It should be made clear if you have some kind of limit on your account to withdraw and if not previosly stated in the contract you signed when you opened the account then they should have not delayed giving you your money.

Most people are not going to have similar stories as the OP, that will drive them away from the banks. Then there's all the reason why a person might need a bank account, like cashing checks, etc.

reginalkri

sr. member

Activity: 285

Merit: 250

How much money did you have in there, since she's saying a college student can't have that amount.

Bitsaurus

hero member

Activity: 873

Merit: 1007

Nice post Slingshot. The problem is 1/2 way through listening to that post (since most of the idiots keeping banks in power are illiterate) most people would just go back to playing CoD or watching Game Of Thrones. I kind of wish we had a civil war for ignorance is bliss vs reality.

Topic: So.. Chase shutdown my College Checking account (Read 6947 times)