Is the money that you deposited into your bank account really yours? Have a look at the new terms of service that my bank sent me recently and see if it helps you to answer that question.
Did you notice that the bank answers that question by writing: "At any time, we may restrict your ability to deal with your Account, with or without notifying you."
They also say: "We may also close your Account with or without notifying you."
Did you notice another of the reasons given? "We......otherwise believe that you......have become mentally incapable of managing your financial affairs".
If That's Not Nefarious What is? They've Got All of The Bases Covered!
Here Are Some More of Their Reasons:
I particularly like this reason of theirs: "We seek to protect... our own interests." Nice and vague just like they like it!
Did You Know About This One?
What do you think about this warning? Is it becasue they don't have the money since they've lent out many times more than they have using fractional reserve banking?
To Sum Up The Situation
It has taken me a long time to get my money out of that account. Even though I respected the withdrawal limits that they imposed on me (Yes I can't take all of MY money out at once) they blocked my account multiple times!
Points to Ponder
- Is your money safe in your bank?
- Have you seen such written terms of service regarding your account?
- Do you trust the banking system?
Until next time,
@kus-knee (The Old Dog)
I have no trust for the banks.
It's good that you learning crypto through blogging!
I try, there is much learning to do
Hallo, ich bin uf de suechi nach schwizer hive users und han denkt du kennsch vielicht ni es paar 🏅🍻🍀
Gruess us züri
Hi there. I live in CH but I only speak Italian and English. I tried to translate what you wrote but I couldn't understand it. Greetings to you!
Hi, I thought so, sorry, I said:
I'm loonking for some swiss hive users, maybe you know some as well you could refer for me ⚡🍀🇨🇭 greetings from zürich
Here in Ticino there are at least 4 other actice members that I know.
@carolineschell @airmatti @peter-parker @steemitri
There used to be a Discord channel for Stem users but I haven't been there in a while. You're in Zurich....cool! Great city that I visit from time to time!
Thank you!!!! I mentioned also all Hivers from Ticino 😁👻
Awsome, same here, I love riding motocycle so in the summer we usualy stay somewhere in tecino / bellinzona or lugano 🍻
So glad to find you all here 🍀🏅
I'm not to active on discord, but there are a few interesting servers there.
Have a grate one and #hivefive 🍻🌐
Ditch the TD and find an old school Swiss bank.
Yes and a Ledger x does a pretty good job too.
The bank's restrictions and conditions are very ridiculous and one sided. No sign of putting the client first!!
For sure!
Thus it called bank, in a situation come they can robbery an open system and you could do nothing except the watching of your bucks going out of your hands!
So true!
That's irritating. I have a account which had some money. Not a lot but still more than $1,000.
When I left it dormant, the bank after every few years will send a letter saying I need to "activate" the account before I transact in it.
Yes so annoying!
Blame it on low interest rates here.
I think they think they should charge us for storing our money with them.
This is some kind of chaos
So true!
The new policy banks in my country recently made is that for transaction of money above 30$ you send to an account, both the sender and receiver will both get debited of a little amount.
Banks these days are getting more annoying, Crypto all the way
That sounds terrible! Where are you located?
Nigeria. And the funny but annoying thing is that the CBN(Central Bank Of Nigeria) approves it
Very cool. I have some Nigerian friends here in Switzerland. I understand that there is a lot of currency traded in Nigeria using phone credits. Is that true?
I also heard that there is now big Bitcoin usage in your country. Do you use Bitcoin? If yes what Wallet is popular there?
Yes, that's right. I do use bitcoin though not everyone accepts BTC as a means of transaction as a great number of persons are yet to be Cryptocurrency literate.
The number of stores accepting BTC is increasing though and every day the population is getting expose to Cryptocurrency.
5 years from now, I believe the exposure in cryptocurrency will be huge.
And the most popular wallet over here is LUNO
the financial system is so fragile at the moment that even they don't know what they are doing its better to diversify always
True!!!
Banks are totally useless entities.
My experience is related to Italian banks.
In Italy the situation is truly paradoxical: if you deposit in the bank you have practically no interest rate ...
When you enter a bank it almost seems like you have to say thank you ... but for what? For services that you are obliged to have? For services that are not needed?
I hope that the spread of blockchains can eliminate these parasitic and useless entities.
I totally agree with you @kus-knee
Interesting observations! Sei in italia allora?
wow can you speak italian :)
On Hive there are not many people who know or write in Italian.
I am Italian and I live in Italy, precisely in the Basilicata region.
And you? where do you live?
I'm in Ticino Switzerland.
“Thank you for depositing your money with us. We have failed to inform you at the time you opened your account that your property rights over your money ended when the deposit into our establishment was complete. Sorry for the inconvenience.” -Bank that just reallocated your funds
Great “quote” and so misunderstood by the bank using public.
Wow. Those are quite ponderous and extremely vague. I like the one about mentally incapable...like is that based on whose opinion?!?
Based on that .... anyone buying crypto could be deemed mentally incapable of using a Bank.
From their point of view that's so true!
Actually I got shocked when I read the 10 page document that they sent me.
Hello dear friend @ kus-knee
That communication is incredible, to be honest so far nothing like this has happened to me.
In Argentina, the way things are, no one has money in their account, some years ago an event occurred that they called a corralito, the banks frozen the accounts for several months and a large part of the citizens were trapped in it, after a long time. patience recovered the money.
I still can't believe it.
I wish you a beautiful night