Santander blocked my account with no explanation

EachPenny

mcplums wrote: »

For anyone who is getting bored/annoyed at these unrelated posts on the merits of bitcoin I apologise but some posters (like EachPenny) ignored my request and I can't resist a good debate so still doing it here....

I don't think anyone is getting bored/annoyed, like all threads people have the option of not reading posts they are not interested in. I did start by respecting your request, but since the discussion was being continued (including by you) I thought I might be allowed (in accordance with forum rules) to join back in.

Besides, the discussion is not about the merits of bitcoin, but the interaction of virtual currency with the established banking system, regulation and policing. A topic you started the thread with. Rather than being off-topic, the points are germane to the issues you raise in respect to your relationship with Santander.

The nature of bitcoin - and the lack of regulation and policing - is what has led you to the point where your bank has concerns about the legitimacy of your transacting and (apparently) has reported you to investigating/regulating authorities. Some of what you perceive as merits of bitcoin are the very thing which has landed you in this situation.

Santander have opted not to facilitate business activities using virtual currency and yet by your own words you decided to ignore their wishes. Is it surprising they are a little concerned about this? :whistle:

mcplums wrote: »

What will be the difference between banks' own virtual currencies and what they already offer? Will they have the properties of scarcity and decentralisation which is what separates existing virtual currencies and the £, $ etc? In other words, why would anyone use these bank's new currencies?

It seems the point was missed... there is no difference because I was talking about the system which already exists. Most people's day-to-day banking has already been reduced down to bits being manipulated in computer databases representing transfers of notional currency units, which in the UK we just happen to call 'Pounds'.

The existing system works, is generally trusted, and has the advantage of regulation and policing which gives users the comfort most crave. And as a backstop, the system is underwritten by the Government to the extent that users of the currency will only ever lose out if the country suffered total economic meltdown.

In other words, why wouldn't anyone use these bank's [STRIKE]new[/STRIKE] "currencies"?

At the very least to the extent it will prevent the banks being "wiped out".

alex373208

Can anyone tell me if the OP got his money back from the bank? Which seemed to be the original question. Unless I've become a bit confused by the endless other posts on the banks obligations, business ins and outs, endless tedious one-upmanship and bitcoin.

Ben8282

alex373208 wrote: »

Can anyone tell me if the OP got his money back from the bank? Which seemed to be the original question. Unless I've become a bit confused by the endless other posts on the banks obligations, business ins and outs, endless tedious one-upmanship and bitcoin.

Is there a reason why you are resurecting multiple Santander blocked my account threads?

born_again

alex373208 wrote: »

Can anyone tell me if the OP got his money back from the bank? Which seemed to be the original question. Unless I've become a bit confused by the endless other posts on the banks obligations, business ins and outs, endless tedious one-upmanship and bitcoin.

You would need to ask the OP.:T

But I do remember that some banks were blocking customers using BitCoin sites for a couple of reasons.

DCFC79

alex373208 wrote: »

Can anyone tell me if the OP got his money back from the bank? Which seemed to be the original question. Unless I've become a bit confused by the endless other posts on the banks obligations, business ins and outs, endless tedious one-upmanship and bitcoin.

Hang on let me just give Mystic Meg a call


Ring Ring


Ring Ring


Shes not picking up


I'll answer for her, she wont know the answer, she also wants to know what business is it of yours ?

Terry_Towelling

alex373208 wrote: »

Can anyone tell me if the OP got his money back from the bank? Which seemed to be the original question. Unless I've become a bit confused by the endless other posts on the banks obligations, business ins and outs, endless tedious one-upmanship and bitcoin.

Clearly, only OP could tell you that. The last time they logged in was 2nd July this year - although they could've been checking things without logging in. You'd be best off sending them a PM because that should trigger an email to be sent to them.