Post
Topic
Board Bitcoin Discussion
Re: Another reason am chosing bitcoin.
by
Lida93
on 01/08/2024, 11:18:51 UTC
How much is the amount that you put into your friend's account? I mean you know that you are transferring a huge amount of money. Why didn't you ask the limits of his bank including the amount of money that he can receive on a daily/monthly/yearly basis? That's being irresponsible on your part. Take note that you're transferring a huge amount of money (huge enough to make an account freeze), so at least put the limits into consideration.

I don't think it's irresponsible thou because it has happened to me several times and it wasn't always my fault. I see them (traditional banking system) as incompetent with their limit policy in the first place restricting people from accessing their funds. My first experience was very frustrating because I wasn't informed about the incoming transfer from the sender but the money was freezed until I had to go and update the account to increase the account limit. Even after the upgrade,  it took almost a month before I received that money.
This is nothing out of the ordinary and it can't be said to be an act of irresponsible. The traditional banking is getting more frustrating and worse with their banking policies as society advances. And all this they do by the instructions of the authorities who have pocketed them, regulating all their activities. In my country Nigeria they regulate how much you can withdraw as an individual both on the cashier desk and from the ATM, transfers and deposit all regulated to a limited amount depending on the documents provided while opening the account with the bank.