I transferred some amount of cash to someone to get me a few items I would be needing for my project at hand, a day after I received a call from the him that his account has been freezed due to the amount received into the account that the bank told him it was above the account grade and he has to come with some required documents for the upgrade to a higher tier and this has to shift my schedule I have arranged for my project to a day further.
What? Account grades for what?
I have never heard of such a thing where I'm living.
Sure, I hear that your account can get frozen if the bank thinks you are receiving way more money than they think you can afford or something along that lines - to prevent money laundering - and all that can go away by giving them a certified source of funds document. But what you are describing sounds crazy to me.
We should all be thankful that Bitcoin doesn't come with this kind of BS.