2 ms·

>that banks cannot be trusted to let you do what you want with your own money. Well that's because we put them partially on the hook for when we, Joey Public,

>that banks cannot be trusted to let you do what you want with your own money. Well that's because we put them partially on the hook for when we, Joey Public, fall for scams, we expect and demand that the banks give us back the money we were scammed for. I mean, I personally haven't, but I've read multiple newspaper articles about it.

Veen 4y ago
Indeed. UK papers have had many stories of late about people sending their savings to scammers and then complaining their bank didn’t do enough to stop them, putting the bank on the hook for compensation because of the Quincecare duty of care.
prohobo 4y ago
Do you think that's a real problem, or a convenient (manufactured/inflated) problem? I'm pretty sure they could simply add to their terms of service "no refunds for crypto purchases" and that'd be understandable, legal, and enforceable. Advertising this position prominently would make naive crypto "dabblers" second-guess themselves. So, in my opinion the problem you're referring to is not real. There are no such limits/bans on gambling in general.
- quietbritishjim 4y ago
  > I'm pretty sure they could simply add to their terms of service "no refunds for crypto purchases" and that'd be understandable, legal, and enforceable. It definitely wouldn't work. I'm sure they have similar conditions for "don't read your PIN out on the phone" but people still do and still often get refunded for it.
antihero 4y ago
I wish there was a switch that let me accept the consequences of my own actions but be allowed to take them in the first place. I don’t use crypto but it isn’t my bank’s job to tell me where I can send my money.
- killingtime74 4y ago
  There is a switch. Don't associate with the banks for your finances. Take your money out. No one is forcing you to keep it there.
  - antihero 4y ago
    Real practical advice there.
- shapefrog 4y ago
  There is/was before. You have to waive rights to get that switch enabled, in the past when I looked at what that meant - it was waiving litterally any recourse over any money extracted from your account by any means.

Veen 4y ago

Indeed. UK papers have had many stories of late about people sending their savings to scammers and then complaining their bank didn’t do enough to stop them, putting the bank on the hook for compensation because of the Quincecare duty of care.

prohobo 4y ago

Do you think that's a real problem, or a convenient (manufactured/inflated) problem? I'm pretty sure they could simply add to their terms of service "no refunds for crypto purchases" and that'd be understandable, legal, and enforceable. Advertising this position prominently would make naive crypto "dabblers" second-guess themselves. So, in my opinion the problem you're referring to is not real. There are no such limits/bans on gambling in general.

quietbritishjim 4y ago
> I'm pretty sure they could simply add to their terms of service "no refunds for crypto purchases" and that'd be understandable, legal, and enforceable. It definitely wouldn't work. I'm sure they have similar conditions for "don't read your PIN out on the phone" but people still do and still often get refunded for it.

antihero 4y ago

I wish there was a switch that let me accept the consequences of my own actions but be allowed to take them in the first place. I don’t use crypto but it isn’t my bank’s job to tell me where I can send my money.

killingtime74 4y ago
There is a switch. Don't associate with the banks for your finances. Take your money out. No one is forcing you to keep it there.
- antihero 4y ago
  Real practical advice there.
shapefrog 4y ago
There is/was before. You have to waive rights to get that switch enabled, in the past when I looked at what that meant - it was waiving litterally any recourse over any money extracted from your account by any means.