Avoiding Bank Account Suspension Due To Bitcoin Transactions

Various banks around the world take drastic action when they find out customers have been using their account to buy or sell Bitcoin. In most cases, bank accounts will be closed without notice or second thought, leaving customers hanging out to dry. When this scenario happens, there is very little a consumer can do,  other than finding a more Bitcoin-friendly bank.

Also read: Bitcoin Offers A Chance For Increased Purchasing Power, Unlike Fiat Currency

Bank Account Closed Due To Bitcoin

TheMerkle_Bank Account BitcoinMultiple Bitcoin users – most notably in the United Kingdom – have been faced with the suspension of their bank account simply because they once bought or sold Bitcoin. Most banks around the world are not too keen on the concept of Bitcoin altogether, and customers using their accounts to get involved in digital currency can have their account flagged at any given time.

The worst thing is that this is not the fault of the consumer per se, as they will hardly ever tell their bank about Bitcoin intentions to begin with. However, once they buy or sell Bitcoin through that bank account, a transaction may contain a

Read more ... source: TheBitcoinNews