In my country there are two kinds of banks.
Private ones and public ones. The private banks can close an account if they want to. They don't even have to give you a reason for closing an account.
The public ones can't do that. They are connected to the state and have to open an account for everybody.
Topic: You should never trust banks (Read 60784 times)
In my country, where I live few ivents took place after which some of banks just been closed without returning money to those, who hold it in that banks, so yes.
That is against the law, in our country there is an insurance for our deposit so even if the banks will closefor whatever reason, we are still guarantee we can have our deposit up to the maximum amount insured, that's why for deposits
I trust bank to protect my money.
Yes, it was a pity and it happened in my country. The bank has reformed the bankruptcy rules built into the minutes of legality. It only happens with private banks or affiliates and it certainly does not belong to the nation's central bank. But they close the account and do not pay you the premium or any pays is a bad thing.
In my country, where I live few ivents took place after which some of banks just been closed without returning money to those, who hold it in that banks, so yes.
Of course we can not trust any bank, because banks simply uses us to make us and our dengue. Centralized money management opens up a huge space for incredible fraud. And that's why banks don't like cryptocurrencies.
My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. My bank just stated that "Pursuant to the CMA Disclosure and Agreement, 'THE BANK, at its discretion, may elect not to accept an account, terminate the account agreement and the account agreements of any related parties'. Both parties to the agreements have the right to end the relationship at any time and neither is obliged to provide a basis for such a decision to terminate". No single word explaing the termination was given to me. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you are helping the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!
I agree, never trust any bank. The mistakes that employees will make, the economic crises banks may experience, or the worst-case scenario, the banking of the banks, is all your accumulation. Also, in the event of banking, you can not even have the slightest chance of getting your money. In my country, this happened twice before, and many families have suffered severe losses in the financial direction.
My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. My bank just stated that "Pursuant to the CMA Disclosure and Agreement, 'THE BANK, at its discretion, may elect not to accept an account, terminate the account agreement and the account agreements of any related parties'. Both parties to the agreements have the right to end the relationship at any time and neither is obliged to provide a basis for such a decision to terminate". No single word explaing the termination was given to me. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you are helping the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!
I believe in my bank and in my opinion we still need banks. Banks do not close accounts that are active. There are incidents that banks are hacked but the money was trace and was return to the owners.
my opinion is not true if I do not trust the bank, for me the bank and bitcoin are equally good that we need, if I think in terms of income I will still choose bitcoin.
If you have a valid account with bank they cannot close your account without your consent, even if you stop your transactions for a long time your account can only go dormant. If you want to campaign against bank, it shouldn't be this way because 99% of people here have bank account and we all know how bank operate, so if you have a personal problem with your bank go and solve it.
You should have sued them if that's the case, Closing your account without any pre-info is just disgusting. I hope you did not have a huge amount of $ in that specific bank.
What they did is very unlikely done by a proper decentralized bank.
What they did is very unlikely done by a proper decentralized bank.
Previously I trusted the bank. Bank deposit is not only safe but also interest. But recently I no longer trust banks. There are many cases of stealing money from the sender's personal account that the bank does not know. Worse than the state to bankrupt bankruptcy, many scams from the bank chief. How to trust the bank. Send money to the bank as well as buy bitcoin.
With cryptocurrency exchange or with your cryptocurrency wallet can happen the same as with your Bank, but it happens more often.
This isn't good. Why would such a bank do this? And why was the government so silent about it? There might be something wrong with your account? Could it be because the bank is losing or is about to close? Maybe you should see their manager for a clear explanation on this. May be it will lighten the confusion.
Banks don't offer to much as a saving vehicle in my country the interest rate is a joke and while you have savings protection there is a limit to how much money your bank covers if you have a lot of money you can lose it even if there is insurance of deposits.
Banks are trustable honestly, but we can never make sure they won't bankrupt at the end. Remember Lehman Brothers crysis and other main banking crysis took place in the previous years. Crypto is still huge!
That is not right. All banks are obligated to run your account as long as you have money in it or just being active with it. What they did base on your story is they have taken away your money which is basically stealing it. Even if you violate something with your agreement in the bank they are not allowed to keep that money, even if it is illegal they must surrender the possession to the government.
I use the bank's system, but I never believe banks. With the appearance of cryptocurrency, I gradually start using this . I believe in cryptocurrency more than on banks or government.
A bank of a country can not do what you say. They are based on the law. Can not close your account so indiscriminately. I think you may be mistaken. In my opinion, the Bank is where we keep the safest money possible, although they are not as profitable as Bitcoin but they are safe.
The fact that banks are another world evil and it knows everything. But to answer as it is now to live without them, no one will answer. And wages and even public utilities bills, still swaying with the help of banks. We can not live without them.
Banks will stay, if we do not trust bank that would not erase the reality that there are still more people who are trusting bank and will continue to use their platform, for now bitcoin is just too risky and complicated for them, we need more time to mature and to attract ordinary people.
My bank closed my account last year for no reason, and all money in my account was gone. I argued with the bank, even contacted the local government, no use. My bank just stated that "Pursuant to the CMA Disclosure and Agreement, 'THE BANK, at its discretion, may elect not to accept an account, terminate the account agreement and the account agreements of any related parties'. Both parties to the agreements have the right to end the relationship at any time and neither is obliged to provide a basis for such a decision to terminate". No single word explaing the termination was given to me. I contacted all banking lawyers online, and they were all representing the bank, not the customers. The money I lost can buy a new Mercedes. However, banks around the world now are too powerful. They are too big to fail. When you open an account in the United States, and probably also many other countries, you voluntarily give up the rights to sue the bank under their arbitrage clause. Even worse, they define the financial laws and enforce them. They can close your account, freeze and steal your property and evict you from your house. The more money you deposit into your bank account, the more you are helping the evil. I'm glad to see Bitcoin is changing all of these. Let banks die!
Usually Bank closure without prior notice or closure without any documentary detailed supposedly given to client for clarification or notice for disclosure but it's not, that's why many people are discourage in the bank because of that circumstance, I really like the bank before but the true bank now is a big bank company do not try to sacrifice your money into a small industry of bank.
But try to stored your money into your Wallet Provider in your country like here in the Philippines which is coins.ph, only you and coins.ph have transact if you want to make your money safe without any big amount deduction. and not only that you should get profit if you want to invest in BTC.
I don't have any reasons not to trust banks because as far as I know, banking storage of money is reliable and many business owners deposited their assets on a savings accounts they have for fiat cash money and i need that.
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