What is the worst experience you have ever had with a bank?
Extra points if you name the bank 🙏🏽
1,105
287
1,133
Conversation
Paypal locked up all the money I had for 6 months, almost lost my business/apartment. BofA killed 's payroll account on 30 days notice. Chase killed it on 5 days notice, by mail, which arrived after the account was closed. Found out when employee checks bounced.
26
80
419
And you survived. No matter how hard they try, the banks can’t stop the disruption from crypto companies 🤷🏽♂️
1
5
85
I cycled through multiple rented PayPal accounts and I started spreading deposits across several banks, cash in safety deposit boxes. Probably a compliance person's worst nightmare but I basically had to employ the arts of a money launderer to survive.
9
20
229
This Tweet was deleted by the Tweet author. Learn more
Because with fiat a bank or a third party can screw you over for and lock up funds for sometimes what appears to be no reason at all..
1
1
7
This Tweet was deleted by the Tweet author. Learn more
Are you referring to locked up wallets due to lost keys, or exchange hacks/etc? Either way, those aren't due to an authoritative gov't or business. Even banks have flaws in security. My argument was purely based on the fact that if you own your private keys, you have 100% control
3
This Tweet was deleted by the Tweet author. Learn more
This Tweet was deleted by the Tweet author. Learn more
This was 2003, long before crypto. Totally legal business. Paypal locked my account because my mom logged in to her account from my apartment, and my brother logged in to his account from her house. My bro was locked first because he refused to pay back a fraudulent chargeback.
Even my roommates and friends were locked in this nexus. I paid off my bro’s negative balance and they said they’d consider reopening if we all submitted full KYC docs. We did and they denied us.
1
1
2
Yes, there are risks involved with crypto related business when it comes to legal and banking regulations, but implying that crypto is inherently causing those issues is false. In time, banks will love to work with crypto companies, and one day (hopefully) we won't need banks.