What a surprise today to logon and find my Chase Bank platinum business banking account closed after selling Bitcoin using Coinbase at http://jerry.tips/coinbjb to buy and Wall of coins to sell with cash deposits! The CRAZIEST part is that they refused to provide a reason! Customer support said “We are unable to give you a reason why we restricted your account, suspended your online access, and are closing it within 10 days AND no one else at Chase will be able to provide you with an explanation.” Thankfully I see the positive in that this account was costing me $95 a month which I will no longer have to pay and it also saves me the time for selling Bitcoin. If I had to guess why they closed the account, my guess is that they did not like my $10,000+ in CASH deposits at locations around the USA in February 2017 from Wall of Coins Bitcoin buyers paying cash for BTC. If that did not trigger them to flag the account, it might have been my $20,000+ in withdrawals to Coinbase to buy more Bitcoin to send back to WOC. When combining all of these together, I can imagine how a teller or branch manager might have got all excited and alerted the fraud department. I felt so good about helping cash buyers get their Bitcoin and making a 10% commission in doing so that I made an online video course about it at http://skl.sh/2llwqa3 which I am guessing the JP Morgan Chase Bank N.A. representative that closed my account did not watch. I hope in sharing my experience getting my 4 year old business banking account closed with Chase and having my online access suspended is helpful for you if the same happen to you or if you are considering following what I teach in my class! The founder of Wall of Coins advised me to not take payments larger than $200 as deposits because of the risk of accounts being restricted but as you can guess I did not listen to that and accepted a $2,500 payment into my Chase account just two days ago for Bitcoin which cost me around $2,300 to buy. Maybe smaller transactions would help or maybe a different bank or maybe buying on a different exchange! Whatever happened, I am grateful today to not let my happiness be interrupted by this small inconvenience and to be willing to share the results with you as the list of websites and accounts I have been banned grows by one more! Thank you for reading this and I hope you have a wonderful day!
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I also have a Chase Account... So if you can't use the banking system to deposit your earnings from Cryptocurrency's transactions how do you cash out??? Are there other banks or Credit Unions that will let you do this???
Did they at least waive fees to give you a 10 day window to cover any outstanding checks and debits or call the police in order to jail you? You don't want unpaid checks going to the prosecutor's office nor getting blacklisted on Certegy, ChexSystems, SCAN or Telecheck; nor trashing your credit! If blacklisted, "banksters" will treat you like a terrorist! It's a throwaway society! At Bank of the West (Bear), when they close your account, they close your business!
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https://www.theverge.com/2018/2/4/16971666/cryptocurrency-bitcoin-jpmorgan-chase-bank-of-america-citigroup-credit-cardThe article states that Chase, BOA, or Citigroup don't really associate with cryptocurrency.
will they close my account if i use debit card (chase) to buy crypto currency iin coinbase? or only credit cards? and will they close my chase account if i for example cash out my cryptocurrency from coinbase to my bank account(Chase) (got savings account btw)?
Today, I just attempted to purchase $120 in Litecoin from Coinbase, and both of my banks connected with Coinbase refused the transaction. One of my banks locked my account, and the other bank said it looked like suspicious activity and flagged the purchase which was denied. So, it certainly had nothing to do with large purchases in my case! It looks like the banks don't want the competition and are fearful of Cryptocurrencies and the block chain technology. Which banks are still accepting purchases from Coinbase now?
Hey I know I'm seeing this video almost a year late but you could print your bitcoin on paper wallets then you can traditionally sell your BTC like buying a CD from a friend. Love the video and I'm checking out your site, thanks for being there.
This happened to my dad but with stocks. He made some good money off some different companies and the bank closed his accounts and said he was money laundering. Lol needless to say he switched to a credit union and he still day trades with no problems.
I think the reason why they want to discontinue service with you is illegal that’s why they don’t want to tell you I encourage you to try to get an entity involved to help you fight this legal matter because a public bank can’t refuse to service you for any reason
Shit like this is ridiculous. How the fuck can you be "ok with that?" That's the problem, people are just ok with shit like this. Cowards like you are the reason this world is ran by fucking puppet, tyrants. Grow a pair of fucking balls.
Remember, the money in the bank is theirs not yours. Also, those transactions to Coinbase go to offshore locations. That doesn't help. Coinbase needs to ensure that all their credit card processing centers are INSIDE the US.
You obviously don't understand the big picture. Used to be we were told that we'd always have to carry cash. Then credit cards were released - major game changer. Now we're told we have to keep our funds in banks and be subject to the activities of the Fed and the fees of banks. Now crypto exist - another game changer that's of at least as significant degree as CC's were.
Remember what happened to Blockbuster? Things like Hulu and Netflix came out. Banks are about to be outmoded completely, and they don't like it. But it's inexorable.
Looks like Chase Bank is making them selves obsolete. Maybe soon many of us will have no use for these debt institutions, the banks of today are not real banks at all. All there currency today is created out debit entries and nothing more. What a bank is supposed to be is a place to store money, they have no money at all any more. Even there currency (the FRNs) is evidence of debt. I guess everyone knows that the FRNs are not redeemable for any thing, they are just debt.
Hey Jerry, Bitstamp closed my account last month, had it since 2013, because I used my Bitstamp wallet to send bitcoins to fund my Bitconnect account. There Terms of Serce should have included a statement that says we will monitor all of your crypto transaction endpoint destinations, and if we do not like any one of them, we have the right to terminate your account.
Do you still have any bitcoin friendly bank accounts open, or do you have to keep everything btc related concealed? I would be interested in any bank who is bitcoin friendly. Thank you.
The advice you are giving about changing the amounts of deposits is actually a violation of Federal Law. I think it is bullshit, but it is very serious. I enjoy videos like this, but you really need to be careful about talking about how to structure deposits, etc. is a violation of the Federal Structuring Laws. You should take this video down before you get your balls in a vise.
You need to be careful with what you are doing. You may be running afoul of Federal Law. Wall of Coins could potentially be identified as a money laundering site. Also, with all the transactions you are running through, you may be at risk or a Federal charge of structuring. You need to read the laws on this. I had a friend who was charged and convicted of Structuring for using his own money in a legit business venture. Penalties: 5 years in prison. $1 million fine. This is serious crap, be careful.
believe it or not Chase did disclosed that information to you when you opened the business account i notice that when i open my account a few years ago I'm sure if you used your personal account that wouldn't happen its because of the business structure
fool!!! because the rothschild and the banking system already started the war against cripstocurrency.The communist investor of china gave up and the bitcoin like other drowned like the argentinian submarine did.Too much greedy people outside ,the fast and fury movies have washed the brains of this generation.
You should not have done that you should have put it in your personal account. Besides after what these big banks did in 2008 with the “bailout” you should have used a Credit Union instead of the thieving banks.
Will it help for example, you call your bank and tell them the situation that your about to sell bitcoin and about to receive, lets say hypothetically speaking more than $10k receiving in your account in multiple transactions?
if it was a congressman just a 10% kack back would have solved the whole problem...I'm sure. thanks for the vid...I'll drop my account with them ...as I'm a small fry..also having problems with coinbase and chase....same thing buy and sell...and i'm talking about just putting in 1k...and pulling profit 2 weeks later...a whole 200 bucks
Investing in bitcoin indicates an individual is wreckless with money as it is a complete gamble of an investment. Bitcoin will eventually collapse to nothing, the effect of the coming bitcoin collapse will vary between bitcoin investors but the bank may have taken a decision to discontinue dealing with anyone who has bought in to the bitcoin scam to minimise their own risks. Bitcoin is obviously a Ponzi scheme (albeit decentralised) and if you think its a good investment that's OK, but the banks likely view you as a bit of a financial retard.
Chase sucks anyway. They put my credit card to the default rate for no reason, after hours on the phone they told me I was " at risk" even tho I never missed a payment. I paid it off and closed the account, haven't given them any money since.
bitcoin was made by us government to audit everyone and also let people buying illegal goods incriminate themselves. IT is not decentralized. Its hilarious all the donks going into it. Amazing how smart the government is to make a one world currency right under peoples noses without them realizing it. When i tried to cash in my bitcoin fincen sar audit me up the ass. Its unreal. Will never touch it again with 10 foot pole. They have all your history on exchanges of what your buying and when you try convert to cash get ready to give them all your irs information and answer several personal questions about yourself. If they don't like what they hear your bitcoin will be taken away.
Hi Jerry. I am A newbie learning. I do have question, lot of questions but don't know what to ask yet. Probably down the road. After seen many of your videos on YouTube, you are my truly inspiration. In the meantime I will keep watching your videos lessons. I'm looking forward to meeting you in the near future or talk to you. God bless you and yours.
Banks have always been bad to do business with. Brokerages may be a better option. The investment world likes bitcoin. Banks don't. Banks are nasty institutions and disconnecting from them and their credit will leave you better off in the long run.
How to become bitcoin trader? Exactly like Bitcoin, multiple digital currencies exist in the marketplace. So if you prefer to buy a few other currencies which aren`t available on Indian Exchange than you can utilize Bittrex. All you have to do is locate an exchange that you favor. Cryptocurrency exchanges have a massive potential to modify peoples minds and opinions concerning cryptocurrencies generally speaking and their application in actual life. So even in the event the exchange is attacked, its still true that you have your money. Furthermore, the exchanges prepare each and every industry for Bitcoin expansion. Existing stock exchanges will also compete to be able to fulfill the users configuration requirements. Sooner or later later on, the prices will grow more equal, meeting somewhere in the middleyour profit is equivalent to the quantity of convergence. No matter how far it is from Kijun, it is likely to return and test that level at some point. The amount of bitcoin is perpetually changing. In the US, it is 1000 USD. Whats even better, seek the services of a seasoned lawyer or at least ask for an in depth consultation. So youve read the newspaper about the meteoric growth of crypto currencies including Bitcoin or Ripple. Then coming up with 1000s of exchange rates simply to go out and get groceries is nearly impossible. Many cities around the world provide a bitcoin ATM where you are able to trade cash for bitcoin. The cryptocurrency world isn`t efficient.