And they ask why BTC… My bank got closed this week.

We all here these tales of how banks and govt screw you over, so here's mine. This week the bank that I hold my business account with has been closed, had their license suspended etc. Satabank if you wanna check that. This is a bank in the EU. They broke the rules, now I can't pay my suppliers, my salary, insurance or taxes as along with many other customers I have had all services cut off and there's no access to online banking. Those that turned up at the bank this week found locked doors and emails are being replied to with a standard template of how things are out of their hands blah blah. I run a 100% legal, incorporated and tax paying business within the EU and I, along with many more customers have had access to all cash and services cut off.

This is modern business is it? This is the way forward is it? This is how we encourage business development?

It's a disgrace.

submitted by /u/boombitsyboom
[link] [comments]
Bitcoin – The Currency of the Internet

Total banking outage at National Australia Bank (NAB) – no ATMs, online banking, nothing. NAB has closed accounts of Bitcoin related customers since 2014. Centralized banking doesn’t work, payback’s a bitch.

Total banking outage at National Australia Bank (NAB) - no ATMs, online banking, nothing. NAB has closed accounts of Bitcoin related customers since 2014. Centralized banking doesn’t work, payback’s a bitch. submitted by /u/junglehypothesis
[link] [comments]

Bitcoin – The Currency of the Internet

Bank of America closed my accounts

Tried to login into my mobile app one day last week, and found that my account was "locked." Hmm that's weird. Called up, entered my debit card number on the cust. service line, "We're sorry, that doesn't appear to be a valid account." I eventually spoke to 3 different departments, who told me that my account was being closed due to "risk" and there was "nothing they could do." They also couldn't tell me why. But not to worry, I could get the funds that were in my account within 10-15 business days.

 

Andreas Antonopoulos said in one of his videos that in many places in the world, you could wake up, and with the flip of a 0/1 in a database, you no longer have access to your money. I foolishly thought, I'm in the US, I'll never have that problem, right?

 

My situation was eventually escalated to the point where someone could tell me what was going on. Apparently, B of A read a number wrong on a perfectly valid check I deposited via mobile deposit. No email, no phone call to ask me about what they presumably thought was a bad check. I just woke up and gone I no longer have my money.

 

I never thought that this could happen to me, but it did. I resolved this with B of A and have my accounts back, but some people aren't so lucky. With Bitcoin, you are your own bank, and you can ensure that this never happens to you.

submitted by /u/throwaway5620709
[link] [comments]
Bitcoin