Quote from: Phil21 on July 26, 2013, 07:52:36 PM

For all those that state their "bank manager doesn't care" or "loves them" etc... Watch out.

I've been peripherally involved with high-risk banking for quite some time now, and this is *always* the case. A small time manager, VP level maybe, loves your business since it means great numbers and high margin for him. He'll try to get more of it even.

Until his higher ups tell him to shut it down. At that point, your bank manager who you thought was your best bud who had your back won't last an instant protecting you (he might push back once since he doesn't want to lose the numbers, but that will last a couple days at most). Doesn't matter how he explains your business, how you've been a loyal customer on the up-and-up - you're gone either way and you have zero say in the matter.

And when they shut down accounts, they generally don't do it "nicely". They'll make you fight for any dollars left in the account, and you'll be lucky to actually get any of it back. Get a lawyer, and expect to be without those funds for up to a year.

So yes, if you run a bitcoin related business I highly suggest getting a completely unrelated account for those transactions at a completely unrelated bank in case the worst happens.

Remember - in the US when it comes to banking, you have almost zero rights. The bank will be able to freeze assets at a whim, and you will need substantial legal services to retrieve any of those funds in some cases. I've seen companies ruined over a bank deciding they no longer wanted to service a merchant account due to the high-risk (politically or financially), and freezing millions of dollars of assets long enough so the company could not make vendor payments.

Truer words were never spoken. Listen to Phil21. He knows. I have been there.