US Bank that is crypto-friendly? | Bitcointalksearch.org

alyssa85

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Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

a) Try a credit union

b) don't send more than about $1000 to your account at a time. They have algorithms that kick in for larger amounts. You need to be patient and sell your coins slowly and withdraw slowly.

BitHodler

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Quote from: Aikidoka on February 07, 2018, 11:07:26 AM

Be careful! You are getting yourself into a big trouble. Many people got handcuffed because they withdrew a huge amount of money which seemed to be suspicious. And then they happened to be scammers and hackers. I know you have not done anything wrong, but bankers will think your money is suspicious.

That's pretty much a pointless warning. If you are a hacker or a scammer and use a bank to store illicit capital, you should be getting your butt whooped by the authorities, and there is nothing that people can say to counter that.

Banks everywhere in the world have been upping their internal policies regarding potentially illicit capital, and that hasn't changed. You only have to worry in case there is no way for you to prove the legitimate origin of the capital.

In that case, any financial institution should be avoided. However, if you know their trigger points, and thus maintain to use that whatever bank with capital below these trigger levels, there won't be much of a problem. I have learned that too.

Oceat

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Quote from: Aikidoka on February 07, 2018, 11:07:26 AM

Be careful! You are getting yourself into a big trouble. Many people got handcuffed because they withdrew a huge amount of money which seemed to be suspicious. And then they happened to be scammers and hackers. I know you have not done anything wrong, but bankers will think your money is suspicious.

On the other hand, there are no crypto-friendly banks because it is a fact that they are against it and it is a threat to them. Perhaps you find a crypto friendly banker because they are employees like us. Do not do it from now on.

Yes, it's true that no banks are crypto-friendly because they were the opposite of cryptocurrency which is centralized. That's why don't withdraw a huge amount in just one day without thinking that their money would be questioned because it is not normal as a regular worker, even if they a business owners, if that money they withdrew exceeded to the limits of what a normal businessman can gets, banks will probably question that.

BTCMILLIONAIRE

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Quote from: ccoinca on December 24, 2017, 10:35:57 PM

Quote from: BTCMILLIONAIRE on November 09, 2017, 07:10:11 PM

Quote from: shield132 on November 09, 2017, 05:58:28 PM

Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

If bank lets you to exchange crypro, it's already crypto-friendly. Remember that everything depends on value of money. I bet you will never have problem if you exchange 500$ weekly but so much ether in one time, it causes some doubts. (In my situation it's like: What is the source of money, why so much money, is it attemp of money laundering and etc silly ones). Send them what they want, every crypro-friendly bank you are looking for would do the same.

There are some banks that let you do this actually. But you still have to comply with KYC and AML laws, so without filing proper tax reports your funds will still get frozen for inspection if you cash out huge sums.

huge sums? how much? how often?

That depends on your cash flow.

Aikidoka

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Be careful! You are getting yourself into a big trouble. Many people got handcuffed because they withdrew a huge amount of money which seemed to be suspicious. And then they happened to be scammers and hackers. I know you have not done anything wrong, but bankers will think your money is suspicious.

On the other hand, there are no crypto-friendly banks because it is a fact that they are against it and it is a threat to them. Perhaps you find a crypto friendly banker because they are employees like us. Do not do it from now on.

BitcoinGirl.Club

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Quote from: Murloc on November 09, 2017, 04:50:40 PM

Most banks are against cryptos. It is clearly visable when you are trying to order cards from different payment systems. Sometimes the system may add funds to your wallet with btc but you can never move it to the card because the bank that issued that card will block it. Usually it is stated in the rules.

besides banks being against cryptos i think if your account isn't usually kept with a healthy balance and suddenly you have a huge sum of money sitting in your account the bank will not hesitate to put your account under review...this does not only apply to cryptocurrencies, this includes fiat. This is almost the same system PayPal uses and if you miraculous receive a huge amount your funds are likely to be put on hold.

AngelSky

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Quote from: ccoinca on December 24, 2017, 10:41:47 PM

Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

Which bank does Coinbase send from?

Try Pacific Bankers Bank?

Do you think it is any different if you use a business account? An investment fund should not have problems you would think.

Why using coinbase to exchange the cryptos buddy. I see many people using localbitcoin.com to exchange their money to fiat. Even some bankers supporting crypto currency payment dude. Choose those kind of banking option to earn the money.

What is the fees pacific bankers consuming as a fees buddy? Corporate account or current account nothing problem as I know.

ccoinca

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Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

Which bank does Coinbase send from?

Try Pacific Bankers Bank?

Do you think it is any different if you use a business account? An investment fund should not have problems you would think.

ccoinca

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Quote from: BTCMILLIONAIRE on November 09, 2017, 07:10:11 PM

Quote from: shield132 on November 09, 2017, 05:58:28 PM

Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

If bank lets you to exchange crypro, it's already crypto-friendly. Remember that everything depends on value of money. I bet you will never have problem if you exchange 500$ weekly but so much ether in one time, it causes some doubts. (In my situation it's like: What is the source of money, why so much money, is it attemp of money laundering and etc silly ones). Send them what they want, every crypro-friendly bank you are looking for would do the same.

There are some banks that let you do this actually. But you still have to comply with KYC and AML laws, so without filing proper tax reports your funds will still get frozen for inspection if you cash out huge sums.

huge sums? how much? how often?

BTCMILLIONAIRE

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Quote from: shield132 on November 09, 2017, 05:58:28 PM

Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

If bank lets you to exchange crypro, it's already crypto-friendly. Remember that everything depends on value of money. I bet you will never have problem if you exchange 500$ weekly but so much ether in one time, it causes some doubts. (In my situation it's like: What is the source of money, why so much money, is it attemp of money laundering and etc silly ones). Send them what they want, every crypro-friendly bank you are looking for would do the same.

There are some banks that let you do this actually. But you still have to comply with KYC and AML laws, so without filing proper tax reports your funds will still get frozen for inspection if you cash out huge sums.

shield132

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Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

If bank lets you to exchange crypro, it's already crypto-friendly. Remember that everything depends on value of money. I bet you will never have problem if you exchange 500$ weekly but so much ether in one time, it causes some doubts. (In my situation it's like: What is the source of money, why so much money, is it attemp of money laundering and etc silly ones). Send them what they want, every crypro-friendly bank you are looking for would do the same.

EcoChavCrypto

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If you are not on Panama or in an island of the Pacific Ocean you are not going to find a bank who is crypto-friendly, because they do not exist, and less on the US, because they all are against bitcoin and you can see it by yourself when you try to buy bitcoin on the US or try to use a forex broker on the US that accepts bitcoins as a payment method.
But it happens everywhere, if you receive money on your bank and you can not say from where did those funds came from, you would be like shit.

Murloc

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Most banks are against cryptos. It is clearly visable when you are trying to order cards from different payment systems. Sometimes the system may add funds to your wallet with btc but you can never move it to the card because the bank that issued that card will block it. Usually it is stated in the rules.

Nfp

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Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

There's no US bank that are cryptocurrency friendly. Because most of all banks are against cryptocurrencies, they are all centralized while crypto are decentralized. So it's very difficult for you to find bank for your crypto. But the good thing is, you don't need to find a bank for your crypto. Because crypto has it's own wallet and it will serve as your bank.

deadsilent

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I don't think you can find any banks that are Cryptocurrency friendly. Most of bankster are against Cryptocurrencies because they are centralized and Cryptocurrencies are decentralized. They can't control it because of this technology aims for total financial freedom. So it's very rare to find a bank which accepts cryptocurrencies. If you see some big personalities from big financial institutions like Jamie Dimon and many others are trying to pull down Bitcoin because it threatens their business.

Anyway, you don't really need banks for your crypto because crypto alone has wallet itself. It will act as your bank.

expertofexperts

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Well, no bank in USA will entertain you for doing crypto transactions. Until crypto currencies arent regulated, no bank or financial institutions will consider your file.

RGBKey

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What the others said is true, any bank is going to take notice if you suddenly deposit a huge sum. That said, credit unions are generally more accepting of Bitcoin transactions.

player514

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Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

There are currently none. You're moving a large sum that seems pretty suspicious from the viewpoint of the bank account. Instead, try to withdraw bit by bit and not all at one time. It's not only a good trading practice, but it'll keep the banks off your tail about large withdrawals too. As long as you do nothing to alert a bank, you'll be fine.

BTCMILLIONAIRE

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Quote from: mizukoholdings on November 05, 2017, 03:04:19 PM

My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

I'm pretty sure that it won't matter which bank you go with. If you suddenly show up with 70k USD without a good explanation, you'll get reviewed due to AML policies. If you don't want this to happen don't send amounts that are way too large to be explained with your normal income or prepare your trading statements early so you won't have to wait.

mizukoholdings

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My local bank put my account under review because I exchanged 200 ETH into fiat from Coinbase and transferred the USD to my account. I hear PNG, Bank of America, and a few others are doing the same to account holders.

Can anyone recommend a US bank that is crypto-friendly?

Topic: US Bank that is crypto-friendly? (Read 752 times)