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"We know you're clean and well-established with us, but this use of the account with two incoming transfers a day is outside of our risk parameters, so you've g
by mrb 14y ago
"We know you're clean and well-established with us, but this use of the account with two incoming transfers a day is outside of our risk parameters, so you've got 30 days to move off it for your business use. We don't want this business"
This is a good example of why we need Bitcoin. The bank tells you that you cannot use your accounts a certain way? Fine. Use Bitcoin and nobody can stop you from receiving as many payments as you want.
- jonknee 14y agoWhich is good and bad, if banks don't want to take business of people who have questionable transactions it becomes more difficult to run scams. Bitcoin is the wild west, it's always better if you're the one taking the money.
- muyuu 14y agoI think you missed the part about "we know you are clean". Both banks and bitcoin business regulate themselves mostly arbitrarily. On top of whatever rules they have to follow. Then we are basically subject to competition, and banks have a limited amount of that. This places most of the power on their side and against the user.
- shrikant 14y agoIt was a "retail" account, so they were probably happy to look the other way as long as the volume of "business moneys" flowing through it was below a certain threshold. This would be analogous to a single dev using a [cheap|free] personal license on software for commercial activities, which is de facto OK till you hit a certain size. Then he would be better off purchasing a commercial license.