Would you close your Bank account, when your Bank turn against Crypto? - page 2.

minersday

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Quote from: Kprawn on November 18, 2019, 10:03:54 AM

We see a lot of these Banks that wants to sabotage Bitcoin and Crypto currencies by closing people's Bank accounts. When this happened in

countries like Australia, some people closed their Bank accounts in support of these people and they moved their business to other Banks that

supported Crypto currencies. They also took this to court and the court decided that this was anti-competitive behavior and they were forced to

stop that. So, the question is simple : Would you close your Bank accounts, when your Bank turn against Crypto?

Do we need new Banks that would go up against these large Banks to facilitate the conversion of Fiat to Crypto currencies? I think Banks doing this

will quickly change their policies, once millions of people start moving their accounts to Banks that supports Crypto currencies.

We do not need Banks, because P2P conversion is possible without Banks, but it just makes things so much easier for people dealing with exchanges.

What do you say? Please participate in the Poll. Tongue

Since the introduction of blockchain technology and bitcoin and cryptocurrency in general, centralized institutions have always been against the ideology of cryptocurrency. The banks to specific have been against the use and adoption of cryptocurrency since the day cryptocurrency was made public to everyone. Personally, I don't have a reason that will make me close my bank account just because the bank to not agree with the ideologies of cryptocurrency. I believe that both cryptocurrency and the bank need each other to promote easier transaction of funds around the world. The adoption of cryptocurrency in banks will eliminate their fees they paid to other companies when sending funds to other banks outside their range of transactions.

Fundamentals Of

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I think I will not close my bank account. I need my bank account for now because it is where I store my fiat savings. I also need it for my payroll. Another thing is that banks are offering loans and credits for me. I cannot avoid but take those offers whenever the need arises. That is how important my bank account for now. But I prefer that my bank is crypto-friendly.

karanggatak

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of course I will not close my bank account even though my bank is against crypto. because I will always need a bank to take out money loans and also to send fiat money to my family and relatives. in my country not allowed to use bitcoin as a means of payment. so that in transactions or bill payments I still use the bank. banks have been around for a long time and we have been using them for years. it will be quite difficult for us to leave the banking system. unless the government legalizes and provides facilities that support crypto then I will switch to using cryptocurrency.

cutesgirl

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Quote from: Kprawn on November 18, 2019, 10:03:54 AM

We see a lot of these Banks that wants to sabotage Bitcoin and Crypto currencies by closing people's Bank accounts. When this happened in

countries like Australia, some people closed their Bank accounts in support of these people and they moved their business to other Banks that

supported Crypto currencies. They also took this to court and the court decided that this was anti-competitive behavior and they were forced to

stop that. So, the question is simple : Would you close your Bank accounts, when your Bank turn against Crypto?

Do we need new Banks that would go up against these large Banks to facilitate the conversion of Fiat to Crypto currencies? I think Banks doing this

will quickly change their policies, once millions of people start moving their accounts to Banks that supports Crypto currencies.

We do not need Banks, because P2P conversion is possible without Banks, but it just makes things so much easier for people dealing with exchanges.

What do you say? Please participate in the Poll. Tongue

Although bank against for banned crypto I think is not good thing for closed bank account, how ever bank is very important to save our money safety and we can use bank to send money to my friend and our family. I think when we close our bank account after against bitcoin how to cash out our money and always have other place have the same function like bank to save and cash out money there, if have maybe I will think sent my money to other place have function like bank.

Eugenar

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Quote from: Shasha80 on November 19, 2019, 05:49:21 PM

If I find a bank that is against cryptocurrency, I will not close my bank account. Because it must be recognized for now the role
of the bank is still quite important for human life. I still need a bank for a home purchase loan and some of my bill payments
also use bank services. But if in the future cryptocurrency is increasingly known by many people have also been legalized all over
the world. Possibly the role of cryptocurrency can replace banks, when that happens there is a possibility I can close my bank
account and choose to use full cryptocurrency.

Basically banks will not let their industry be forgotten by people, they have already so many connections in the society, if we are to close our bank accounts, banks will not have any function anymore, and if we are to be on their shoes, we will absolutely think of possible solutions whether it could be to oppose cryptocurrency, or think of the way to utilize cryptocurrency so we can still be preferred by the people.

Shasha80

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If I find a bank that is against cryptocurrency, I will not close my bank account. Because it must be recognized for now the role
of the bank is still quite important for human life. I still need a bank for a home purchase loan and some of my bill payments
also use bank services. But if in the future cryptocurrency is increasingly known by many people have also been legalized all over
the world. Possibly the role of cryptocurrency can replace banks, when that happens there is a possibility I can close my bank
account and choose to use full cryptocurrency.

Slow death

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Quote from: Kprawn on November 19, 2019, 01:21:17 PM

I think the main reason why people avoid moving from one Bank to the next, is because the Banks are making it unnecessarily difficult for their own

customers to do it. They know they are going to lose fees and your deposits, so they make the administrative task very complicated and time

consuming. You are loyal to your Bank, but they are not loyal to you in return. Angry

I recently

shifted from one Bank to another and it almost took a day to get through all the red tape. Roll Eyes

instead of switching banks, why didn't you just create an account with another bank? You could have had two accounts with different banks, this is also a way to stay safe in case one day one of the banks goes bankrupt or can no longer handle cryptos. In my country the requirements to open bank account are the same requirements for all banks, but the problem is that each bank is slower to serve its customers, so I choose the bank in my country that takes less time to serve its customers.

Kprawn

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I think the main reason why people avoid moving from one Bank to the next, is because the Banks are making it unnecessarily difficult for their own

customers to do it. They know they are going to lose fees and your deposits, so they make the administrative task very complicated and time

consuming. You are loyal to your Bank, but they are not loyal to you in return. Angry

I recently

shifted from one Bank to another and it almost took a day to get through all the red tape. Roll Eyes

BitHodler

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I personally wouldn't because it's not easy to shift everything over to a new bank, especially when you have been a client for nearly two decades like I have. Definitely not worth it for me.

Nowadays there are many alternative banks that you can use that aren't anti crypto. It's much easier to apply for a bank account this way until they start acting cocky too and you have to move to another bank.

rdbase

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Quote from: joinfree on November 19, 2019, 11:49:04 AM

I admire the courage in what the Australians did against such a policy and this is exactly what other crypto enthusiasts in other countries should mimick in case the governments make such rules in our various countries. Remember when the inhabitants of the country rises governments reason up with their proposals and policies.
We need to stand up and fight for our rights with respect to our finances.

It is a global issue and not just facing the people of australia but you are right with them not giving in to the banking system. In them telling their customers what to do with their own funds and what they can spend it on.
I do think the banks are scared in not knowing what to do when it comes to cryptocurrenies.
They view it as a threat to what their corporate foundation stood for these many years and cant cope with how to handle it so they just outright ban anything to do with it in disregard to the point of keeping even their long standing customers in the process.
Which I find it absurd for any viable institution such as the banking system to continue operating this way when it comes to a new technology competing with the way they run their business.

Nolimitz84

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Quote from: aysg76 on November 19, 2019, 09:21:02 AM

The answer is clear cut no as we depend upon on banks for various services and they are supplier of fiat which is essential for survival as crypto have not still became part of financial system of our nations and we are left with no other options.Beside this you need to convert your btc or other coins to fiat through banks and i can't afford to loose relations with my bank until there are solutions for payment in cryptocurrencies.

You're quite right.It is premature to talk about the termination of relations with banks.Specifically in my country yet none of the banks are not officially accept crypto.But nevertheless, a lot of people use and invest in cryptocurrencies with the help of exchanges offices.

CarnagexD

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Quote from: NeuroticFish on November 18, 2019, 10:11:49 AM

Where I have my account I also have a pending loan and also it's the bank preferred by my employer.
So unless I change my job and I also get enough money to pay back my debts, the chances to leave that bank are slim.

There are no reason to close your bank account just because it turns against on crypto. Man, it doesn't have any effect so why would you do this? There are still massive number of banks that has not been in cryptocurrency yet, and closing a bank account regarding this issue is so off. Not unless your current bank is handling your crypto and suddenly turns it back, and changes direction.

Quote from: NeuroticFish on November 18, 2019, 10:11:49 AM

Bitcoin also gets recognised properly as a coin everywhere.

Hell yeah, mass adoption is coming. According to some surveys, the user's growth of cryptocurrency is gradually increasing every year, imagine from 1% to 3% of the population who's connected to the internet already showed that they used a cryptocurrency. Bitcoin is perfect fit for future financial integrity.

joinfree

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1A6nybMUHYKS6E6Z3eJFm4KpVDdev8BAJL

I admire the courage in what the Australians did against such a policy and this is exactly what other crypto enthusiasts in other countries should mimick in case the governments make such rules in our various countries. Remember when the inhabitants of the country rises governments reason up with their proposals and policies.
We need to stand up and fight for our rights with respect to our finances.

whyrqa

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Oddly enough, none of the cryptocurrency users will abandon their connection with banks, despite the constant negative statements about the banking system. The fact is that modern life and the state system dictate the conditions for humanity and no matter what opinions sound regarding cryptocurrencies, no one will ever refuse from banking services. In any case, while it will be necessary in daily life.

Youghoor

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Quote

Would you close your Bank account, when your Bank turn against Crypto?

Personally, this will depend on my country's rules on cryptocurrencies and Bitcoin to be precise. Banks have literally been around for quite long and majority of people living in a particular trust the banking system since they believe that the Bank can be physically seen compared to cryptocurrencies. In as much that banks might turn their backs against cryptocurrencies, I can't just close my bank account. You can't survive in world where the banking system is the main source to make transactions and with just a hand full of people into cryptocurrencies..

tambok

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I would definitely not closed my bank account because of that reason, I would just open another account in another bank that is open for this so that I can still withdraw my earnings thru bank, if all bank will not accept crypto deposit anymore, then I will find another way just like using paypal, or using remittance center then just deposit it in bank thru cash/fiat.

the rise

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banks that support bitcoin-blockchain are certainly the hope of many people today. if indeed the bank freezes the account like that then I have to close it, but if it really happens in general. I still remember the bitcoin halving years ago where my transaction was canceled unilaterally because it came from a certain crypto exchange, but they finally changed the rules to be soft and accepted it. I think this will happen again next year with the bitcoin hype returning strong.

Murat

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This is a simple issue that we know most of the banks are not crypto-friendly so I can't take any decision against Bank, Still, Bitcoin and Cryptocurrency is struggling for its proper existence but the conventional financial system is not like this so people have t choose to their own way and most of the people still have faith on the conventional currency and fiat, so This is not the new thing that Banks is not a friend of cryptocurrency, They can't take any risk regarding their business, not only that but also it's matter of acceptability to the people, That's why I don't blame any Bank for their step against cryptocurrency.

GideonGono

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I only used bank because of fiat so I have no problems really and never thought about this very well. Also, if I would buy Bitcoin then there are other ways here in my country where you can go to well known remittance centers or even a convenience store like 7-11 which would happily serve you and credit the bitcoins you had purchased almost instantly. Also, I convert my bitcoins to fiat and withdraw it to an ATM machine without the need to open a bank account. It is not really much of a hassle.

Edraket31

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Quote from: audaciousbeing on November 19, 2019, 09:22:44 AM

Quote from: Kprawn on November 18, 2019, 10:03:54 AM

We see a lot of these Banks that wants to sabotage Bitcoin and Crypto currencies by closing people's Bank accounts. When this happened in

countries like Australia, some people closed their Bank accounts in support of these people and they moved their business to other Banks that

supported Crypto currencies. They also took this to court and the court decided that this was anti-competitive behavior and they were forced to

stop that. So, the question is simple : Would you close your Bank accounts, when your Bank turn against Crypto?

Do we need new Banks that would go up against these large Banks to facilitate the conversion of Fiat to Crypto currencies? I think Banks doing this

will quickly change their policies, once millions of people start moving their accounts to Banks that supports Crypto currencies.

We do not need Banks, because P2P conversion is possible without Banks, but it just makes things so much easier for people dealing with exchanges.

What do you say? Please participate in the Poll. Tongue

Of course yes. If a bank should close my account, what it means is that they are not ready to do business with me again and there is no point forcing the business relationship all I have to do is to ensure I am able to move all my funds from such bank and move to the one that is receptive of my needs. Its that simple. There are several banks that are even looking for more active customers so it means for any exit, there is one other bank or a banker looking to increase deposit waiting for someone to signup.

I don't have a choice if that happened but to close my bank account and will just open to other bank that will be open in crypto, I would love to save in a bank that I know will not question me or that they are open to crypto and this is for my account security too as I know that they will not freeze my fund anytime they want. So, better to leave them immediately before I would struggle getting my money to them.

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