I initially posted the following on r/BitcoinMarkets but a moderator removed it.
Before the moderator stopped the conversation, some people kept remarking "there must be more to this story". They even looked at my posting history and recount how Gemini refused to let me open an institutional account, which isn't true. They refused my client who I reffered to Gemini. I have yet to submit Gemini my final paperwork.
Some people complained "what does this have to do with crypto"? Maybe the timing of this as I got involved with crypto was coincidental. My intention was to give another reason/reminder how precarious our financial security is when dependent on the fiat banks and to each "be our own banker".
ORIGINAL POST:
They initially enticed me to choose them over other banks, saying they'll open my business account as a US Veteran business account. They said it's special because that type of account doesn't pay fees if there's no money in it. They said a zero balance is okay.
Fast forward - my personal, Chase-backed VISA credit card was denied at the gas pump. I went into the nearest bank to fix this and was told my US Veteran business account is being closed too.
The sudden, hard stop was rude, to say the least. Someone told me by law the bank needs to give a customer 30 days notice. Not zero. I reminded them:
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I've had a relationship with them for many years.
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I'm a citizen in good standing with the government.
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I've never bounced a check, missed a bill, or had any other incident with them.
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I'm one of the few people that didn't default on my home loan after the 2008 crash. After all this time, I finally paid that 2nd mortgage back in full.
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My credit score is still 8XX.
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Earning a triple digit hourly rate as a white collar professional today, I move more money through their bank than the average customer.
They didn't care to hear any of this. They said all accounts, personal and business, are closed effective immediately, and that it's permanent and irreversible. Their explanation didn't go any further than to only say it's an "internal" decision they've made about me. That's it. That's all I got from them.
Don't let Chase Bank set you up for failure. You don't want to be traveling out of town or in some other vulnerable position when they suddenly lock you out of your funds without cause.
Chase Bank, if you're reading this and don't like me telling everyone my story, I invite you to explain yourself here for everyone to read.
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