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Imagine a bank marketing itself as "No reasonable consumer would believe that their deposits will remain in the bank indefinitely" This is a really awe-inspiri
by cblconfederate 6y ago
Imagine a bank marketing itself as "No reasonable consumer would believe that their deposits will remain in the bank indefinitely"
This is a really awe-inspiring, a complete rejection of the concept of ownership
- nuka_coffee 6y agoThis is already reality. Paypal shuts down inactive accounts. (And guess what they do with the positive balance.)
- Kye 6y agoPayPal isn't a bank. They don't have the same obligations or protection. When a bank closes your account, they mail you a check with the balance, and that balance is insured up to $250,000. I don't know how it works in other countries, but they probably have something like the FDIC.
- cblconfederate 6y agoIt's a bank in the EU
- Kye 6y agoDo they have the same reputation in the EU?
- cblconfederate 6y agowell i havent had problems with them even if i held large amounts there, but my business with them was rather straightforward. Their KYC was reasonable
- ThisWasTaken 6y agoas an European, yes, I've never heard someone get the money back when their account was locked.
- kwaskoff 6y agoRussian banks need to do the same
- BruiseLee 6y agoActually that is correct in many countries (including US). After a period of inactivity (typically 3-5 years) the bank is required to turn over the money from inactive accounts to the state. This process is called escheatment. I'm not joking.
- BoorishBears 6y agoOnly on HN would you need to specify "active account" for such a clear cut analogy. Two replies and both are picking that nit. Apple is admitting regardless of activity, studios can revoke their license to content, removing content from your active account
- elliekelly 6y agoThreads with analogies are one of my favorite HN idiosyncrasies because they’re almost guaranteed to be followed up with something along the lines of “a better analogy would be $materiallySimilarAnalogy” or “that’s not a good analogy because $immaterialDetail”. Just an endearing quirk of HN users to have a tendency to be overly-precise, I think.
- datavirtue 6y agoThat is a protection. The government holds the money and you can apply for it anytime. As can your relatives. Have you never received unclaimed funds you didn't know were due to you?
- irrational 6y ago> Have you never received unclaimed funds you didn't know were due to you? No... have you?
- cabaalis 6y agoHappens all the time. They even used to publish lists of unclaimed funds in the paper. It's occurred to me twice in my lifetime.
- sergiotapia 6y agoI'm just back to pirating shamelessly. Emby, Radarr, nzbget.
- cblconfederate 6y agoI think the future is Popcorn Time + a patron-like model
- fastball 6y agoNot sure tequila will really help this situation...
- NullPrefix 6y agoNo reasonable lender would believe that I am paying that loan back.
- cblconfederate 6y agooh no no THAT's unreasonable