U.S. bank closing all of my deposit accounts because of bitcoins - page 3.

MagicBit15

sr. member

Activity: 294

Merit: 250

Let's Start a Cryptolution!!

Quote from: notme on July 13, 2013, 08:28:15 PM

Quote from: MagicBit15 on July 13, 2013, 08:24:41 PM

I am sorry but I have never heard of this before. I have of freezing but not just random closing.

Please post letter or it didn't happen, Thanks! Roll Eyes

I'm sorry reading is hard for you. OP posted it on the first page.

So sorry I missed that tiny link while scanning. No need to be rude. Ya jerk. Tongue

Anyway wow that is very weird and sucks. I also don't know nor have ever heard of what USbank is so you should probably not use them lol.

d0qtrx

newbie

Activity: 14

Merit: 0

Quote from: bronco on July 12, 2013, 04:46:31 PM

Quote from: acoindr on July 12, 2013, 04:20:27 PM

If you're willing to take the time it may be possible to have your account reopened, but that outcome is not guaranteed.

Bank says they will never deal with me again, wont open or reopen any accounts. Funny thing that they kept my credit accounts but closing only deposit accounts

Of course. They want to bleed you dry on interest.

joesmoe2012

hero member

Activity: 882

Merit: 501

Ching-Chang;Ding-Dong

People definitely are getting their accounts closed, anybody who thinks that's trolling is blind.

PilotCurly99

newbie

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Merit: 0

It is my understanding that banks have been actively lobbying for years against the Dodd-Frank law, as the cost of compliance for them is astronomical and forces them to turn away business that they would want to have in a normal functioning market. The posts here seem to indicate that may be true. Nobody wants to turn away business, but once they look at the cost benefit analysis and risk reward relationship in this regulatory environment it sort of ties their hands. Are the regulators being aggressive? Yes, but the real answer is that it is time for a round of deregulation. Probably not a politically popular word after the financial crisis, but economically it would be great!

ellard

newbie

Activity: 33

Merit: 0

Quote from: Inedible on July 16, 2013, 06:36:24 AM

Quote from: ellard on July 15, 2013, 07:15:08 AM

Quote from: Inedible on July 15, 2013, 04:45:27 AM

Quote from: ellard on July 15, 2013, 02:01:43 AM

Walk in and hand a note to the bank teller saying:

Give me all your bitcoins.

Of course don't include anything sayings like this is a stick up or anything.
It's just a joke like if you walked in and asked the teller to give you all her quarters because you are doing laundry. She will laugh, you will laugh, everyone in the bank will giggle and laugh and fun will be had by all.

Not sure if troll

Are you asking if I'm a troll?

Don't know if you're a troll as such but that post has surely got to be one.

If you did that in a bank we'll all be hearing it in the news by dinner time Grin

It was an attempt at humor.

Not sure how you think this might be trolling. We must have different opinions on what trolling is.

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: ellard on July 15, 2013, 07:15:08 AM

Quote from: Inedible on July 15, 2013, 04:45:27 AM

Quote from: ellard on July 15, 2013, 02:01:43 AM

Walk in and hand a note to the bank teller saying:

Give me all your bitcoins.

Of course don't include anything sayings like this is a stick up or anything.
It's just a joke like if you walked in and asked the teller to give you all her quarters because you are doing laundry. She will laugh, you will laugh, everyone in the bank will giggle and laugh and fun will be had by all.

Not sure if troll

Are you asking if I'm a troll?

Don't know if you're a troll as such but that post has surely got to be one.

If you did that in a bank we'll all be hearing it in the news by dinner time Grin

tclo

hero member

Activity: 518

Merit: 500

Quote from: Inedible on July 15, 2013, 04:47:48 AM

Drugs have become legal/legitimate? I know weed in some states has but it'll never happen for ecstasy, heroin, cocaine, etc.
[/quote]

Yes it will...all drugs are legal in a couple of countries. I think Portugal in one. If we don't go extinct from climate change or nuclear annihilation or some killer virus, then eventually most countries will make all drugs legal.

joesmoe2012

hero member

Activity: 882

Merit: 501

Ching-Chang;Ding-Dong

FYI, I got a call from my bank multiple times verifying that I was sending money to bitstamp, and that chase would not be held responsible for bitstamps failure to provide service (they didn't mention bitcoins but they alos never asked what bitstamp was or anything else). I send lots of wires, probably 20% get flagged, bitstamp ones get flagged nearly 80% of the time.

I'm always sending from/to the same account.

IAFCU is going to be very interesting, what do their wire fees look like?

ellard

newbie

Activity: 33

Merit: 0

Quote from: Inedible on July 15, 2013, 04:45:27 AM

Quote from: ellard on July 15, 2013, 02:01:43 AM

Walk in and hand a note to the bank teller saying:

Give me all your bitcoins.

Of course don't include anything sayings like this is a stick up or anything.
It's just a joke like if you walked in and asked the teller to give you all her quarters because you are doing laundry. She will laugh, you will laugh, everyone in the bank will giggle and laugh and fun will be had by all.

Not sure if troll

Are you asking if I'm a troll?

AliceWonder

full member

Activity: 168

Merit: 100

Open an account at a credit union and use that for your bitcoin stuff.

Seriously.

Every thread I've seen about closed accounts due to bitcoin have one thing in common - major national banks.
Maybe that's just because most people use major national banks, but I suspect *speculation ahead* they close enough to get people talking but not enough to be looked at for anti-trust. I suspect it is a FUD tactic hoping to slow/stop the adoption of bitcoin.

Trade unions are less likely to be party to that kind of thing. And even if a trade union does close the account you use for bitcoin, it doesn't then impact your regular banking account.

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: calian on July 14, 2013, 08:10:46 AM

Why couldn't they just ask the customer to stop the undesired transactions rather the closing the account preemptively?

No because the bank are then going to be held responsible for the existing transfers so they'd need to be investigated.

As a business (the bank) - it's far better to be seen to do something against money laundering than only allowing a small number of transactions through.

Don't forget, for money laundering, you might only need to make one huge transfer and be done. If the bank just said, don't do it again, then most money laundering would pass by unchecked.

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: firefop on July 13, 2013, 11:40:51 PM

One of the very best things for bitcoin would be if the USA started a "war on bitcoin"... every single 'war on' anything that the US starts fails miserably and their target becomes legal and/or legitimate.

'war on drugs' anyone?

Drugs have become legal/legitimate? I know weed in some states has but it'll never happen for ecstasy, heroin, cocaine, etc.

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: MagicBit15 on July 13, 2013, 08:24:41 PM

I am sorry but I have never heard of this before. I have of freezing but not just random closing.

Please post letter or it didn't happen, Thanks! Roll Eyes

As mentioned already by someone else, it's already been posted.

Healthy scepticisim is good but just because you've never heard of it, doesn't mean it doesn't happen.

Inedible

hero member

Activity: 700

Merit: 500

What doesn't kill you only makes you sicker!

Quote from: ellard on July 15, 2013, 02:01:43 AM

Walk in and hand a note to the bank teller saying:

Give me all your bitcoins.

Of course don't include anything sayings like this is a stick up or anything.
It's just a joke like if you walked in and asked the teller to give you all her quarters because you are doing laundry. She will laugh, you will laugh, everyone in the bank will giggle and laugh and fun will be had by all.

Not sure if troll

ellard

newbie

Activity: 33

Merit: 0

Walk in and hand a note to the bank teller saying:

Give me all your bitcoins.

Of course don't include anything sayings like this is a stick up or anything.
It's just a joke like if you walked in and asked the teller to give you all her quarters because you are doing laundry. She will laugh, you will laugh, everyone in the bank will giggle and laugh and fun will be had by all.

QuestionAuthority

legendary

Activity: 2156

Merit: 1393

You lead and I'll watch you walk away.

Quote from: Bitcoinpro on July 14, 2013, 08:07:37 PM

Quote from: QuestionAuthority on July 14, 2013, 04:50:28 PM

Quote from: Trader Steve on July 14, 2013, 01:46:46 PM

Quote from: tunafish on July 12, 2013, 05:19:20 PM

Quote from: shakezula on July 12, 2013, 05:09:38 PM

Get a new bank, problem solved.

+1

Stop using banks altogether - Bitcoin was created as an alternative to this monetary tyranny. Why should banks embrace it?

Your landlord takes Bitcoin?

rent money is dead money

My house is paid off. I pay my rent to the California Property Tax Board every November and February. My rent goes up every year and they don't take Bitcoins.

SeanArce

full member

Activity: 182

Merit: 100

My old best friend works at a bank now. The irony

razorfishsl

sr. member

Activity: 399

Merit: 250

Quote from: Pale Phoenix on July 12, 2013, 11:00:40 PM

Quote from: razorfishsl on July 12, 2013, 10:46:23 PM

Its called money laundering...... you need a license and a clear COC

What??? Arbitrage does not, in any way, equal money laundering. Christ, has everyone been brainwashed?

This was not a guy trading a 'few' coins he was moving significant amounts of money.

I have a number of totally legit companies, there are many laws.. for which I employ accountants and lawyers, because they are EXPERTS in their field.
I looked at opening Bitcoin trading and an exchange, I consulted these experts, we discussed manual/automated buy and sell/ offshoring amongst other methods.

It is considered MONEY LAUNDERING..... UNLESS you have the correct licenses in place.

Bitcoinpro

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