Topic: Wire transfer denied for involving crypto currency - page 2. (Read 263 times)

Banks are seeing crypto currency as a threat to their business and also pushing the government to ban it permanently. So they are now unofficially calling a war against it by unreasonable means. The problem is not going to a better stage anytime soon until the government provides a proper framework for using the cryptos. Once a framework is given by the government, then such problems can be tackled. But if the government bans it, you are fucked.

I thought Bitmain only took payment in crypto?

It's a good example showing us again that we don't own the money deposited in the bank (we lend it to the bank with a promise to get it back whenever we want)  and we have not a full control on our own money.

That's why cryptocurrencies have been invented: be your own bank, nobody will tell you nah you can't buy this, nah you already spend $250 this week, nah the bank don't like this company so no money can be sent to it.

I only have a problem is it's over a few thousand. I now leave a couple grand in my usd wallet in coinbase which does make me nervous but I leave it to jump on any dips. I don't beleive anything will remain unhackable especially at the exchange point. Bitcoin will remain relevant as long as people have confidence of it.

When she called me she rattled off some name. Not a persons name. An organization. It’s actually a credit union I use not a bank. I’m just use to calling it the bank. The anount was 3400.00. I don’t know if that is considered a lot.

Because cryptocurrency transactions may involve money laundering, many foreign exchange companies refuse to encrypt currencies to avoid trouble and policy.

Was it a large amount? Banks also have to comply with anti money laundering laws, and they may have been afraid to get caught up in that. I have heard of some banks in the US tagging crypto transactions as scams of sorts, but I've personally never encountered this problem. The US government, obviously allows it, but banks can have different internal policies.

Either way, you should let your money do the talking. Take your business elsewhere. Let them know that that kind of behavior will not be tolerated as you close your account. It may make them reconsider in the future if enough people do it.

new rules things are rapidly changing all over the world, new rules new regulations, random enforcement

selective laws, depending on the whim

new software, foreign versus domestic transfer

cozy relationship of your bank and the IRS

I know in recent year its been the credit unions getting the pinch, they used to be immune from the DHS bullshit, now they got the heat on them,

Note all this shit is designed to eliminate exit points of bitcoin that don't play along with the IRS tax collectors random demands, this is why COINBASE handed over all data to IRS so they could MINE ( deep learning )  all coinbase customers, if u haven't gotten an IRS letter or visit yet, don't worry u will,

What company are you talking about?
If it was a wire transfer it is a transfer between banks as per definition.

So your bank sent the money to the bank that deals with Coinbase.
Since it's fairly obvious that the other bank bank deals with crytpto related funds it's obvious the culprit is your bank.
Change your bank.

I've been receiving funds and sending funds to exchnges for years and never experienced a single problem.

Shit U think U have trouble, 3 months ago my bank kicked back my antminer order from bitmain, I had finally got orders for s-9, l-3, d-3 all approved, bank sent email that money sent, then 3 days later bank sent email that transaction closed, called bank and they said you can't use your money to buy mining equipment in hong-kong, wait what? I said fuck it, ...I could buy btc and sell it to bitmain for HW, but I prefer to get rid of my fucking USA/USD fiat that has no future, ... but wait they have something else in mind,

It's already here folks, ... and its hard to exit

Long ago, this used to be our money, and a wire was a wire, now days, u do a foreign wire and some jackass at DHS has 1-3 days to find a 'money laundering vector' in your transaction, I guess U could have your own HK account, but wait, can't do that anymore as FATCA (USA) doesn't allow us to have offshore accounts, but wait I can't send MY MONEY to a foreign account either, ... hmmm

It's for the best the antminer shit is nice, but GPU's are much easier to obtain, just pay cash and be done

***

Oh, and one last thing I told the bank I was buying a very special PC ( personal computer ) from HK, but they knew exactly what I was buying, they had already been told that chinese account in HK, was linked to bitcoin asic-hw firms in CHINA, so the next question is do I have to get a fuciing permit from homeland security to buy this bitch? Where is the approval process? NADA, last thing I want is to get permission from IRS to be a bitcoin miner.

I am disappointed. I tried to wire money to Coinbase today from my bank. They put the wire through and then a couple hours later called me to say it was denied. The company that does the transfers kicked it out because it was crypto currency related. I don’t see what it even matters to them. All they had to do was transfer the money in my account. I can only guess that they feel like it’s a gateway for illegal activity or something like that. It just shows we have a little ways to go yet before BTC is really accepted.