Oddbean new post about login | logout So I just got DEBANKED FOR THE FIRST TIME IN MY LIFE 🥲 They asked me to re-KYC my account, after using it for 3yrs. Then 2hrs later, they send me THIS email. "Sorry we can't give you banking services, and we can't tell you why." Husband sent money there to pay our rent, and now they're telling me they can't send the money to my Brazilian account (even though I've been doing that for months). So no account AND they're holding the money hostage 🤡 Thank GOD my savings are in Bitcoin. It's times like this you realise how crazy this world is. https://image.nostr.build/896709b792cfa66c445982cafac19ed01edb951fd9e87dbf180632a37d649901.jpg
The world of cancellation. But we have #Bitcoin and #Nostr I hope everything gets better.
I understand your anger. Bank of America, during COVID, shut down my banking account with 5 figures in it, after ten years with them. They never gave me a reason, but I assume it was due to all the transfers I was making to Gemini, stacking sats. It took them six months before sending the money back. They are lucky I didnt depend on that money to survive or Id go nuts and probably tried to have sued them. FUCK THE BANKS! I hope they send your money quicker 🙏
Feels like they are closing the exits
Can’t trust a bank! Multiple accounts and Bitcoin is the only way to survive.
Scumbags. DeFi can’t come soon enough.
Everyone thinks the money in their bank is theirs until something like this happens. Then it becomes clear just what contempt the banks have for their customers. Glad to hear your savings are in Bitcoin. Good luck to you.
WTF?!!
Rough. wWhere do you spend your BTC if you have been debanked though?
This is why we bitcoin... sorry to hear brother... but good job saving in bitcoin nostr:note1mnlree7lwltzppt5mh5pqcv93xuzyr8ran4dntdnualzxwfp5x4s3u2h7q
Which bank?
Wellcome to the club! I'm on my sixth or seventh time debanked, you get used to it. Open a new bank account and as soon as you do, start opening the next, because it will happen again.
You must be doing something wrong if it happens that frequently. The good thing about your story is that banks appear to not share the suspicious activity reports among them so you will always find another bank.
Not sure it if is "wrong" but I dont lie when they ask about Bitcoin. After that, it us just a matter of time....the don't like competition!
When they unbanked me, they didn't ask about bitcoin. They only wanted to know why I had more than 100 incoming transactions with amounts all over the place. I was market maker at localbitcoins at the time and that's what I told them. Four days later my cards stopped working and when I went to the bank, they told me I had no account with them. Only after asking higher ups did they find that there was a check I could deposit to any other bank account with my remaining funds.
geez what a shitshow, glad you don't have too much exposure to these clowns 🤡 🤡
Been there twice now, not fun! https://stacker.news/items/257437
Wow. That is wild. Sorry to hear that!
@paloma I would almost say to name the bank so we all know who not to do business with
Wise 🤡
Wise aren't technically a bank and they're famous for doing this type of stuff. Ask them what info they require from you to release the funds of yours they're holding. They might release the funds but discontinue further services for you. Hopefully you can get them to release soon. Good luck
Honestly. I’d blast them on social media outside of Nostr and say it’s been normal up until now and see if anyone replies to you. Companies hate bad publicity.
straight out of River . com's playbook
River is not a bank... WTF are you talking about?
they act the same dum dum
Yea except most bank don't let you buy Bitcoin and withdraw it for free and send it over lightning. Some pretty big differences dumb dumb. Again, WTF are you on about?
River did the same thing to me. THAT'S WHAT I'M ON ABOUT. FVCK RIVER
Seems like your fault for having fiat in river and not Bitcoin in your wallet. I have a strong feeling you're leaving out some details. nostr:nprofile1qqsrtv3u6qkj6a09tnhr3l0wy67g9uw3t57ftqyqpvztpk3wmd6306spz4mhxue69uhhyetvv9ujuerpd46hxtnfduhs9vgya8 can you help this man?
details are in my previous notes
He is correct that we are unable to share the reasons for account closure. His case has been closed, but he is understandably not happy about our decision.
So if my River account gets closed someday, you won't be able to tell me the reason why? BTW, I don't keep cash on River, only Bitcoin until I transfer it to my own wallet.
If it would get closed after being open for a while, it would likely be obvious to you why it was closed. You would think back of recent actions. The case flagged above is different and is about opening an account. As for keeping cash on the platform, any cash is always returned to the owner.
The money has to be in a bank to pay certain bills. Without access to that cash, how does a person pay those bills? They could essentially be evicted, get fired (because they can't get to work), have judgements placed against them (for getting behind on child support), and more. How does someone still pay their normal day-to-day bills when their money is locked up?
This is the whole point of CBDC. If you don't toe the line then you can be restricted, punished, cut off from society. Even if you've done nothing wrong, they can still do this. And you have little to no recourse. Like they say "we don't have to tell you why". They can absolutely hold your money hostage for months/years.
So what is the solution? How does a person pay their bills, etc., if all their cash is locked up with no recourse?
You can't. That's why Bitcoin matters.
Money in the bank is not your money.
Right. Most people now understand this. Do you have any ideas for a solution for someone that finds themselves in that situation?
Don't keep your money in a bank. Don't store value in fiat.
An actual solution for people who still have to interact with the world as it is.
It is a solution. When I say don't keep money in a bank, I mean don't keep any money in a bank that you're not okay with losing. You can still use a bank to pay your bills. But the only money in the bank should be bill money ie. money you plan on leaving the account within the month. This is for I love in America.
There are exchanges that will do Bill-payments for you. In Canada BullBitcoin has a massive list of payees. Billing company receives payment however they want, you pay in Bitcoin.
Please read my latest post about anonymity on the internet: https://privacyandsafety.wordpress.com/2024/09/01/how-to-use-the-internet-anonymously/ Bitte lesen Sie meinen neuesten Beitrag über Anonymität im Internet: https://privacyandsafety.wordpress.com/2024/09/01/so-nutzen-sie-das-internet-anonym/ Veuillez lire mon dernier article sur l'anonymat sur Internet: https://privacyandsafety.wordpress.com/2024/09/01/comment-utiliser-internet-de-maniere-anonyme/ Lea mi última publicación sobre el anonimato en Internet: https://privacyandsafety.wordpress.com/2024/09/01/como-usar-internet-de-forma-anonima/ Isso é para meus amigos brasileiros quando você foi trancado. Leia meu último post sobre anonimato na internet: https://privacyandsafety.wordpress.com/2024/09/01/como-usar-a-internet-de-forma-anonima/
terrible!
That’s awesome I wish I had that kinda street cred…the banks haven’t closed any of my accounts yet
True crime. In action.
I have always used my local community credit union and have never had any of the issues that I hear about out there in clown world. I do all the same kinds of transactions that people do with their centralized banks as well. No issues there.
Keep only so much money in the bank you are willing to lose... nostr:nevent1qqsdel3uul0h043qs46dm6qsvxzcnwpzpn37e6ke4ke7wl3r8ys6r2cpzamhxue69uhhyetvv9ujumn0wd68ytnzv9hxgtczypzrzwmemlpnq03m6rz2acxgwt5k4p8j8g4y2cjt82mrpuj0gvqj7qcyqqqqqqg2chv99
This 👇 This is why we #Bitcoin and #nostr #freedom #censorship nostr:nevent1qqsdel3uul0h043qs46dm6qsvxzcnwpzpn37e6ke4ke7wl3r8ys6r2cpz4mhxue69uhhyetvv9ujuerpd46hxtnfduhsygzyxyahnh7rxqlrh5xy4msvsuhfd2z0yw32g43ykw4kxrey7scp9upsgqqqqqqsmawyjp
Ok but you’re gonna need a bank account at some point, to convert bitcoin into money, isn’t that right? I’m a newbie sorry. For what I’ve read, some kinds finantial institution is still needed.
damn that's a tough blow
Good luck retrieving funds. I think most people erroneously blame the banks. I had a really good bank once called Jyske. Damn good service. One day, i get a call saying they need to close my account and could i please move my funds within 3 months. When i asked why, they said that the sheer amount of bureaucracy imposed by CRS (european equivalent of FATCA) was costing the bank so much they couldnt make a profit. If we keep blaming banks for government regulations, noone will ever realise the true source of this issue
What firm?
What bank?
Only put the amount of money you are willing to lose in the bank
Wild…
Una locura, increíble como esta normalizado no ser dueño del fruto de nuestro trabajo 😑 que bueno que tengas tus ahorros en #bitcoin La soberanía y consiguiente tranquilidad que nos da #bitcoin es extrema. Nos abre una ventana a una vida sin precedentes, cualquier cosa que escriba se queda chica, ¡gracias Satoshi! 🫡
