What don't you like about Banks and Banks controlling your money - page 13.

Xester

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Quote from: icecube45 on June 03, 2017, 12:53:09 PM

Quote from: machinek20 on June 02, 2017, 07:54:18 PM

When you put your money in the bank, the bank has the power to control your money, if he thinks you are doing suspicious things then your account can be frozen, so I dont have total control of my money when I put my money in the bank and every of my transaction is recorded, I dont feel too comfortable with my transaction movement keep being watched

Yeah right, if we put all our money into the bank it means we must be willing if all our money is managed by the bank. We can not have full control over the money we have. There are also many administrative costs are quite expensive in my opinion, I do not like this because the money saved will continue to decrease.

Yes correct. It seems like our money is secured to them having advertisements that it is good to put our money in the bank and have these priviliges and that our money is safe but the truth is, they are the one who robbed us. They loan our money on big interest but give us a little interest with tax. It still nice to do some investing and have a mutual fund than putting money in the bank.

icecube45

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Quote from: machinek20 on June 02, 2017, 07:54:18 PM

When you put your money in the bank, the bank has the power to control your money, if he thinks you are doing suspicious things then your account can be frozen, so I dont have total control of my money when I put my money in the bank and every of my transaction is recorded, I dont feel too comfortable with my transaction movement keep being watched

Yeah right, if we put all our money into the bank it means we must be willing if all our money is managed by the bank. We can not have full control over the money we have. There are also many administrative costs are quite expensive in my opinion, I do not like this because the money saved will continue to decrease.

noictib

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Here every people has own opinion about the bank system .Here I myself don't like system of the bank .
Since we have the surity that the bank in which we have deposited our money are safe , even if any person
Will steal the money of the bank then the government will give componsation for that loss .
So in this case we have full security with our money .
But the system of charge is very bad at every stage they begging for the money .
ATM charge , SMS charge , service charge , account mantainance charge and also there should be a limited amount
Minimum balance otherwide your account will be closed so such types of things are making us more irrigating so
Here we would like Bitcoin money where we have no limit and only need to pay for the charge of transaction only .

Faiyz

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Dijual

Quote from: cram03 on June 02, 2017, 11:55:43 PM

Well some of the banks is not that trusted you know not all of em but there's sometimes you will invest or save your money in the banks and they just claim it and sometimes they just deduct some fee's on your balance better to bitcoin your money can gain profits then your money is in decentralized so that no one can know about you and your money.

My brother, who don't know btc or wallets are any connection to it and they dont know im in it, i think did find some struggles in banking sometimes. Either Banks or there bank internet website. So sometimes maybe we should try another company to handle your website. This is really unacceptable. He was encountering with a red face numerous times in front of service providers trying to do an eft on their systems and with some or other website problem and thus without success and he told the family that he tried to contact them and they sent him to the branch for problems they caused and then he would have to sit for 3 to 5 hours waiting in the branch to be served. Not one time, not two times ... a lot.

cram03

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Well some of the banks is not that trusted you know not all of em but there's sometimes you will invest or save your money in the banks and they just claim it and sometimes they just deduct some fee's on your balance better to bitcoin your money can gain profits then your money is in decentralized so that no one can know about you and your money.

flower1024

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Quote from: machinek20 on June 02, 2017, 07:54:18 PM

When you put your money in the bank, the bank has the power to control your money, if he thinks you are doing suspicious things then your account can be frozen, so I dont have total control of my money when I put my money in the bank and every of my transaction is recorded, I dont feel too comfortable with my transaction movement keep being watched

Apart from all those points you mentioned another issue is even to withdraw your own money in some countries (India) started to add some fee for each withdrawal from ATM. Since we can't control these banks so they can change their policies any time according to their benefits. These banks do a lot of business with our money and still, they want to charge for each withdrawal makes something is not correct the system.

machinek20

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When you put your money in the bank, the bank has the power to control your money, if he thinks you are doing suspicious things then your account can be frozen, so I dont have total control of my money when I put my money in the bank and every of my transaction is recorded, I dont feel too comfortable with my transaction movement keep being watched

Hydrogen

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Monopolies prevent innovation, progress and growth of civilization & society.

In countries like venezuela where the state has a monopoly & control over everything we can see how monopolism has a destructive effect on happiness, life and standard of living.

Banks having a monopoly over the exchange of currency is a bad idea for the same reasons governments monopolizing power and influence within a centralized format has typically been a bad precedent for civilization & society as a whole.

Decentralizing banks and allowing competition & free markets to improve services and currency exchange in ways that benefit everyone is a better alternative to banks monopolizing power in that industry.

Chin Cheng

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So i understand that you did have a bad experience with the banking system and if you really need money in fiat currency you still need their help and if you are suggesting anything i could understand,but what is the whole point of this thread,just to hear everyone's grievance. Tongue

For me i really do not like the charges they are deducting from my account and other than that i have to comply with everything because i am forced to have my bank account for a smooth business.

Taki

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I was born in the USSR and that time the yearly percent by credit was 1%. There is nothing to compare with today's percents. That's the thing I don't like the most. If I take a credit today I will have to pay like 20% yearly and if I put my money in the bank for safeness I will not even cover the inflation in my country! That's crazy.

coinplus

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No problem in banks watching all I hold and spend but sometimes you need the feel of privacy in life and you want the government to not know your personal earnings and more than all these one thing that itches me is the tax system in our country.

We are asked to pay upto 80% tax which to be at least sounds insane ! I mean I am doing the hard work and the government takes the biggest piece of it ? Huh !

cellard

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Quote from: Playboi on May 31, 2017, 11:34:33 AM

Firsty, them deciding what is suspicious and not suspicious

Not everybody is an employee working for someone. Some people are entrepreneurs, and as an entrepreneur, you can have some HUGE days. I don't need a bank telling me that my successful day where i made $20k+ is suspicious if I want to withdraw all of it. (people have been arrested for making large withdraws before).

Also, banks freely allowing their customers to scam business (via chargeback). Instead of blindly chargingback purchases and screwing over merchants, visa applicants should be required to take a course outlining the risks of credit cards, and Visa should do proper investigations when a chargeback is brought up.

If a tracking number and proof of delivery can be proved, why should the customer be given their money back?

ALSO, i recently looked into banking investment options. It comes across as a way to just make more money off customers. Think of it like this. It's like it's just them taking your money so they can invest it in polyniex. I only tried it out cause my family (who doesn't know about bitcoins) encouraged it.

Do you have any gripes about banks

I know the feeling of being scared to report big gains because they think every single big transaction comes from drugs or scams. It's crazy. But that's how it works. Im also scared to cash out bitcoins because banks seem to hate bitcoins. Also I have lost data on trades I did on exchanges that are dead like cryptsy, so I have no idea how im supposed to report those bitcoins since I lost the data as the exchange was taken down.

I dont want to worry about this now since im not selling anytime soon.

MingLee

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Quote from: GreenBits on May 31, 2017, 11:24:35 PM

Quote from: nejibens on May 31, 2017, 10:41:12 PM

Banks control our funds and they hold or freeze the accounts sometimes without real or solid reasons. Also they apply high fees for the transactions. Using Bitcoin or altcoins is better to avoid similar problems.

A-fucking-men. Wells Fargo is my bank. From inexplicable fees, to transactions that provision in the worst possible order (they love holding transactions to cause overdrafts). These guys live off the fees, it's their bread and butter, and it shows. Despite how high the fees are with BTC at the moment, at least they are clearly deliniated, rational, and honest. I'm paying a fee so some magical shit with numbers and blocks can combine with vitamins and enzymes into some kind of mixture that gets my transaction confirmed. I'm blissfully ignorant, I have no problem with that Wink

But paying a fee because I didn't use my card enough times in a month? That's Some Bullshit.

The entire fiat banking system lives off of taking money away from the average person and creating debt. One of the huge reasons why I look away from large banks and instead try to find smaller banks that, while less secure (depending on your definition), have far fewer fees and don't gouge you like a majority of other large banks do.
Might as well take a lot of your money out of banks completely and invest it in something that can actually generate some value. Not worth keeping it in something that just sucks money out of you.

Mometaskers

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Much as I use their service so I don't have to worry much about carry around cash, there really is some things that make me uneasy. For example, I don't use their investment services, I just have a savings account that I put money every now and then. As expected, the interest is negligible, the only benefit I'm getting out of it is that I don't have to keep the money at home.

Another is how low the "insured" amount is. Just $101k... Like, what will happen if I ever have more of that?

I've never had problems with them suspending my account, though there was one time when they held the remittance sent to me for a few days because it was "quite large than the usual".

Despite being a third world country, we've never had problems with banks limiting withdrawals though I suppose that would be horrible if you don't have enough cash with you.

Quote from: GreenBits on May 31, 2017, 11:24:35 PM

Quote from: nejibens on May 31, 2017, 10:41:12 PM

Banks control our funds and they hold or freeze the accounts sometimes without real or solid reasons. Also they apply high fees for the transactions. Using Bitcoin or altcoins is better to avoid similar problems.

A-fucking-men. Wells Fargo is my bank. From inexplicable fees, to transactions that provision in the worst possible order (they love holding transactions to cause overdrafts). These guys live off the fees, it's their bread and butter, and it shows. Despite how high the fees are with BTC at the moment, at least they are clearly deliniated, rational, and honest. I'm paying a fee so some magical shit with numbers and blocks can combine with vitamins and enzymes into some kind of mixture that gets my transaction confirmed. I'm blissfully ignorant, I have no problem with that Wink

But paying a fee because I didn't use my card enough times in a month? That's Some Bullshit.

My credit card is a bit more forgiving.... You don't have to pay the "membership fee" if you spend at least $3,700 annually. Grin

GreenBits

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Quote from: nejibens on May 31, 2017, 10:41:12 PM

Banks control our funds and they hold or freeze the accounts sometimes without real or solid reasons. Also they apply high fees for the transactions. Using Bitcoin or altcoins is better to avoid similar problems.

A-fucking-men. Wells Fargo is my bank. From inexplicable fees, to transactions that provision in the worst possible order (they love holding transactions to cause overdrafts). These guys live off the fees, it's their bread and butter, and it shows. Despite how high the fees are with BTC at the moment, at least they are clearly deliniated, rational, and honest. I'm paying a fee so some magical shit with numbers and blocks can combine with vitamins and enzymes into some kind of mixture that gets my transaction confirmed. I'm blissfully ignorant, I have no problem with that Wink

But paying a fee because I didn't use my card enough times in a month? That's Some Bullshit.

hardtime

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Quote from: BitcoinBarrel on May 31, 2017, 11:45:15 AM

Anyone that works at the bank can see all your account information. Monthly fees, atm fees, overdraft fees. Banks suck!

Well I guess this works the same way as anyone that owns the web wallets and such, people are able to see all the information that you have to provide, it's not like you're one to provide a ton of information to these people as well but they're able to track all of your stuff as well, and certain web wallets even charge you extra fees if they're able to.

I don't have an issue with banks having control over my money as well, I think of it as something along the lines like this, it's a trade-off when people like them have control over seeing my stuff and charging my fees. Though they do offer a good insurance, well the government does which is known as the FDIC insurance. This is a trade-off which I think is in our favor.

Some of you people really do love anonymity, but I don't have a high amount of care for it. I don't like being overly tracked, but It comes with the times.

Schuyler

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The things we don't like about banks seem too many to mention. The charges when you have to deposit to a provincial branch, the online fund transfer, the withdrawal limits, the time it takes to clear a cheque, the verifications needed, the maintaining balance. I could go on and on, and the list can even get longer. These are financial institutions regulated by the government so they are imposing all these policies that try to limit how we use the money we entrusted to them.

nejibens

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Banks control our funds and they hold or freeze the accounts sometimes without real or solid reasons. Also they apply high fees for the transactions. Using Bitcoin or altcoins is better to avoid similar problems.

Remainder

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For me it is okay for the charges fees because that is the equivalent fee for every transaction we made in the banks in order the bank to move to pay there staff and other bank transactions.

mrcash02

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I don't like they charge fees just to keep my account there active, I don't like they watch our account, our financial movements and depending how much you have, how much you are transacting they will start asking from where the money comes, they will want we pay more fees... Not by themselves, but together with country authorities.

Topic: What don't you like about Banks and Banks controlling your money - page 13. (Read 5736 times)