My bank ALMOST caused me to be stranded in San Juan PR, without a place to stay

in travel •  7 months ago

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BANKS and CREDIT UNIONS are terrible

I have not had the luxury of traveling out of the country much in my life. So I am learning most of what happens when you do as I move along. When I landed in Puerto Rico yesterday, my first objective was to secure my rental car across the street. Everything was in order, as I had already reserved online a few weeks prior. However when I went to pay, my card was declined. I had plenty of funds in my account, so I did not know the issue at first. It was Sunday, so my credit union was closed, and I could not call them to authorize my foreign payment. Luckily I had another card that worked, however it did not have enough to pay for my entire two weeks of renting. I will now have to go back halfway through my trip just to pay for the rest.

I had some cash on hand for dinner and to buy water last night. I was also able to contact my branch today to let them know that I was going to be in Puerto Rico until April 21st. I think it is ridiculous that I had to do that though. They claim that it is for security reasons, but I do not think it is their business where I am at. Plus it is my own responsibility to keep track of my finances and security. I was almost stranded because of this strict rule of not allowing transactions that seem unusual compared to my normal purchasing behavior.

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CRYPTO will beat the BANKS into the dirt

When it comes to cryptocurrencies, I can make any transaction that I would like, exchange for another currency with ease, and even keep my holdings all to myself if I choose to do so. This gives me much more room to breathe and relax when it comes to finances. The complete opposite of having somebody monitor all of my activity.

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I am lucky enough to be writing this blog underneath my beach house in the shade, after spending 4+ hours on my private beach this morning/afternoon. It is wonderful here. I could get very used to this.

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I know I am not the only one who feels this about banks. Comment and let me know how much your local cash hostage holders annoy you.

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Best Regards,
@daltono

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The same thing happened to me with my bank. This isn't deliberate. Banks do not know if your card has been hacked or if it's you who is traveling or someone else. You should alert your bank before you travel and they'll unlock your money.

Btw guess how I survived? Steem. I was able to cash out some crypto into another bank account and survive even though my main bank account was locked.

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True, I know it’s not deliberate. Just the whole way they setup their system in the first place I’d frustrating. It’s my own fault if my money gets in the wrong hands. By theirs, well not it is theirs I suppose since this is the terms they have established.

Steem saves lives.. literally. That’s awesome that it ended up working out for you also, I’m sure it was frightening for a split second or two.

The experience with conventional local banks is even worse in PR. The cards work less reliably if you can imagine. May crypto rule... ✌🏾

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I’m sure here are many hassles here when it comes to local banks. The issues must be even more difficult to solve due to the possibility of any slight language barrier also. You’d think they be pleased that they are able to hold onto our funds. Instead they must believe those funds are somehow theirs and that we are just “allowed” to use them sometimes.

This guys are there simply to treat your account as their's , they debit you before you could even check your balance. And you know what your money wasn't actually in your account in the physical all you see in your account balance are just mere numbers while they do business or lend your money to someone else and get them to pay triple...I could go on! i just hate this guys!

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Yes! You stated. Supreme fact right there “Your money wasn’t actually in your account in the physical.”

There are many reasons to dislike these institutions. You have mentioned several.

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May cryptocurencies rule...

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In my mind, the worst part is that banks are legally allowed by governments to lend your money and not keep the cash on hand that is in their customers accounts. If you want to take out a large amount of money from the bank in fiat currency, you have to either call ahead and let them know you are coming or wait days to get your money out. And it is perfectly legal for them to do this. It's crazy to me but that is the way of the world unfortunately!
Ivy

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There is an extreme lack of balance here.

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Agreed! There is a definite lack of balance. I think that is why so many people are drawn to crypto because you can manage your own assets instead of relying on a corrupt banking or government system to do it for us.

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Very sad and they want to babysit you over cryptocurencies... these guys are pure evil.

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The desire for profit can sometimes bring out the worst in people and that is so sad. But they think we are naive and cannot manage our own money because supposedly we are uneducated and they seem to have gotten many people to believe the BS that they are uneducated because so many trust them with no questions.

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It is so sad they have a lager percentage of people that believe and trust their system. It is a major issue we are faced with, tell some folks about Bitcoin and they will tell you before listening to you it is a scam but they strongly believe the bank is not a legalised scam!

Glad you were able to figure things out your first day so you weren't stranded! Being somewhere foreign to you with little to no money is definitely not fun. I had a similar experience a few years ago and the bank was closed because of the time difference (I was in Europe at the time). Thankfully, banks have progressed slightly now and you can schedule trips in their mobile apps so that your card doesn't get frozen if you tell them ahead of time where you are going via the app. If your card is stolen or used for purchases that you didn't authorize, you can freeze your card and have them send a new one. Dealing with banks can be quite a hassle for sure! I deal with 3 different banks and one of them recently decided that buying crypto with their debit card or banking account is not allowed so I can no longer use that card to buy my crypto coins. Needless to say, I am phasing out of that bank and don't want to do business with them anymore! Enjoy your travels and thanks for sharing!
Ivy

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Thank you for chiming in. I appreciate your interaction a lot.
Your story sounds like it was stressful too. Luckily I was able to remain calm and solve this issue within 30 minutes.

Looks like you are going to need to use your SBD to start buying other cryptos. The bank can’t stop that!

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You are most welcome! It was stressful but was a learning experience, as I am sure yours was. Staying calm during situations like that helps so much because it allows you to find alternative solutions instead of having a mental breakdown haha. I am working to expand my little crypto empire, little by little, without needing to use a bank to do it. I appreciate your advice and wish you success in building up your crypto wallets, as well.
Ivy

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Mental breakdowns are no good.
Building your own cryptoland isn’t fantastic however.

Hi, great post, worth a follow.

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Thank you 🙌

Fuck the Banks! I love the idea of decentralized systems. You control it not them. Safe travels my friend!

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Yes indeed! I agree, decentralization is boundless.
Thank you 🙌

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I believe its evolution. The old institutions are failing us. It will take some time for Steemit to get popular but Its the future of social media.

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I agree with you on that future prediction. WE will be there to guide those that were not here so early. Just like the whales are here for us now.

Does this mean that the current whales will evolve into giant Kraken?

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Krakens! Thats scary but the early birds get the worm.

Enjoy the beautiful island of Puerto Rico! Don't forget to visit El Yunque which is USA's only natural rain forest. Its crazy to see how the crypto space is growing down there now that I moved. I may have to consider going back!

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Thank you! I plan to go there a few times. It is only 20 minutes from me. Hopefully I meet some people that can help me find the waterfalls.
Or are they obvious?

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Most are pretty obvious but there is a visitor’s center before going up the mountain where you can get details on the trails. It would be good to check first as signs and trails may have been impacted by the hurricane. Enjoy!

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Good information. I will be sure to stay aware of the surroundings and information.

The banks will lose in the long run. Power to crypto power to the people!!