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Topic: US credit unions deem Bitstamp risky (Read 801 times)

hero member
Activity: 882
Merit: 501
Ching-Chang;Ding-Dong
December 14, 2013, 06:20:51 AM
#11
My credit union said that my funds couldnt be transferred because it was deemed a risky transfer... This is bullshit(pardon my french) they didn't even give me notice, I had to go to the bank and raise hell for them to credit my bank account back. Do you guys know of a bank that will let me transfer $5000 to bitstamp without a problem?

What credit union?
member
Activity: 77
Merit: 10
December 13, 2013, 04:40:39 PM
#10
Haha, bank doesn't let you handle your own money, I guess they don't think the money is really yours. This is truely something unimaginable. I hope you closed your account with them immediately after this incident?

Spot on.
member
Activity: 77
Merit: 10
December 13, 2013, 04:36:51 PM
#9
My credit union said that my funds couldnt be transferred because it was deemed a risky transfer... This is bullshit(pardon my french) they didn't even give me notice, I had to go to the bank and raise hell for them to credit my bank account back. Do you guys know of a bank that will let me transfer $5000 to bitstamp without a problem?


I'm not surprised. People always find out the hard way. Money deposited in a bank, any bank, is no longer your money. The State and/or the bank can, merely at their will, seize your money or control what you can do with it.

If the money is the bank's possession, it is no longer your money.

My advice is to never let the bank know what you are doing with your money (assuming, of course, you still want a bank account). In other words, if you are going to buy bitcoins, take cash out of the bank and buy them locally from localbitcoins or similar sites. This way the bank has no idea what you are doing with the cash withdrawal.

This way the government does not know you are buying Bitcoin.

All banks are, more or less, the same. Forget about looking for a better bank.
sr. member
Activity: 321
Merit: 250
December 13, 2013, 04:18:00 PM
#8
another thought.  in my experience brokerage firms tend to be less restrictive than banks.    I think it is because they are regulated differently.    Still though, I'd stick with with p2p transfers and leave the legacy banks behind.
sr. member
Activity: 321
Merit: 250
December 13, 2013, 04:15:06 PM
#7
no.

you could bank outside the U.S.  Or just buy the bitcoins locally privately and without any intermediary possibly losing them.   See my sig.
member
Activity: 98
Merit: 10
December 13, 2013, 04:07:39 PM
#6
Yes I did. Any recommendations for a reliable bank in the US that will allow me to make these wire transactions without the b.s.?

You might want to check out this thread:

https://bitcointalksearch.org/topic/list-of-bitcoin-hostile-and-friendly-banks-264679
member
Activity: 84
Merit: 10
.
December 13, 2013, 04:04:53 PM
#5
Haha, bank doesn't let you handle your own money, I guess they don't think the money is really yours. This is truely something unimaginable. I hope you closed your account with them immediately after this incident?

It's just sad really.... ugh it just gets worse and worse
member
Activity: 98
Merit: 10
follow me on twitter @BitcoinBender
December 13, 2013, 03:58:08 PM
#4
Haha, bank doesn't let you handle your own money, I guess they don't think the money is really yours. This is truely something unimaginable. I hope you closed your account with them immediately after this incident?

Yes I did. Any recommendations for a reliable bank in the US that will allow me to make these wire transactions without the b.s.?
sr. member
Activity: 434
Merit: 250
December 13, 2013, 03:26:42 PM
#3
Haha, bank doesn't let you handle your own money, I guess they don't think the money is really yours. This is truely something unimaginable. I hope you closed your account with them immediately after this incident?

This is exactly why bitcoin and other cryptcurrencies are so valuable to us. No one questions me or even knows when I transfer coins between wallets or my phone.
member
Activity: 98
Merit: 10
December 13, 2013, 03:15:15 PM
#2
Haha, bank doesn't let you handle your own money, I guess they don't think the money is really yours. This is truely something unimaginable. I hope you closed your account with them immediately after this incident?
member
Activity: 98
Merit: 10
follow me on twitter @BitcoinBender
December 13, 2013, 02:11:56 PM
#1
My credit union said that my funds couldnt be transferred because it was deemed a risky transfer... This is bullshit(pardon my french) they didn't even give me notice, I had to go to the bank and raise hell for them to credit my bank account back. Do you guys know of a bank that will let me transfer $5000 to bitstamp without a problem?
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