Quote from: Omega2513 on December 16, 2013, 11:51:44 AM

Quote from: seriouscoin on December 16, 2013, 11:45:48 AM

Quote from: Omega2513 on December 16, 2013, 11:43:53 AM

Quote from: seriouscoin on December 16, 2013, 11:32:58 AM

Quote from: Omega2513 on December 16, 2013, 11:29:37 AM

Quote from: seriouscoin on December 16, 2013, 11:04:00 AM

Quote from: John999 on December 16, 2013, 11:02:33 AM

Quote from: Omega2513 on December 16, 2013, 10:49:00 AM

It was also reported on major news sites so who knows. I know some banks here in Canada are shutting down accounts that are used for Bitcoin

What reasons do they give when they do that? Is it legal?

Why is it legal or not?

Its their service they can terminate bank acct as they want.

It's more of a grey area when it comes to bitcoin and banks. It's possible they could consider it too high of a risk or the fact that they would lose out on transaction fees.

China banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8

Canada banks: https://www.google.ca/search?q=bitcoin+china+banks&rlz=1C1CHFX_enCA551CA551&oq=bitcoin+china+banks&aqs=chrome..69i57l2j69i65l3j69i60.4227j0j1&sourceid=chrome&espv=210&es_sm=122&ie=UTF-8#es_sm=122&espv=210&q=bitcoin+canada+banks

No i'm not talking about bitcoins

I'm answering the question about legality of terminating bank accts. Ofcourse its legal. Its their service, they have the right to terminate it if they want.

Heck they can terminate your bank account if you're rude to them.

Not quite. There has to be a legal reason to the termination. For bitcoins, with all the bad press of Silk Road and everything else, the banks could have it fall under illegal or misuse of the account and funds. Like how they freeze the accounts for criminals.

Idiot, terminating accounts is NOT seizing them.
Its their business they have the right to terminate accts with customers they dont want to do business with.

Understand?

And they can be taken to court for it. They don't have to GIVE a reason to YOU but they still NEED a VALID reason. But since you have to resort to name calling online, I am done talking to you.

LOL Good luck with that thinking kiddo. I'm done explaining to an idiot anyway.