The whole concept of banking is just a big sham, You give them your money and they use that very money to make profit afterwards they charge you all sort of taxes from the money. They can close your account at any time and freeze your asset at any given time.
These rates make things complicated for many people. Things could be much better if such banks did not suffer so much influence from governments. If such institutions did not have to pay high taxes, customers would benefit from it.
The current banking cannot be change, though you see private banks but they are purely supervise by the central bank which is created and govern by the government. We have this bitcoin because we do not want the government to interfere and be decentralized where we do not follow all their rules.
Banks can be trusted but do not trust fully in a centralized system as when you think your information is safe you might be wrong since corrupt officials do exist and you vital information could give threat into your life especially if you are holding a big amount of money.