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"De-Banking" Is Real!
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- Опубліковано 5 сер 2024
- A case study interview describing how one of our big banks withdrew banking facilities from a business, and surrounding personal accounts, which demonstrate that the broad terms and conditions in the industry are unfair and their conduct un-Australian.
Paul, the owner of the business is taking the bank to court in what may well be an important test case. Details of his "Go Fund Me" page are below.
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Caveat Emptor! Note: this is NOT financial or property advice!!
This case should also get a run with the ACCC. it's clearly anti-competitive if they've taken your customers. Power to your arm Paul.
Was thinking the exact same thing.
At least we'll see how broken, corrupt the system truly is by the actions of the ACCC.
Exactly.
If your not a billion dollar corporation , don't expect any help for the current government .
And the banks have a very cosy relationship with the Liberal party.
@@beesplaining1882 Don't worry - Labor is on board the the agenda too. Look at the voting record with bail in and cash ban. The two party system is a fraud.
@@altbinhax yeah Labor are in on it too. The 2 party system serves the plutocrats very well but all it does for the people is provide comforting illusions.
Or the Opposition, including Labor and The Greens... both beholden to the big banks and the globalist financial agenda... naturally!
@@edithflood631 Have you got any hard figures on the amount of financial support that the greens get from banks and corporations . I have no doubt that the greens have exactly the same Neo-liberal economic policies as the rest because their is no choice on that matter . But corporate and bankers support , compared with the others it must be insignificant .
Don't worry Martin increasingly the banks are becoming irrelevant.
Fintech and crypto will eat traditional banks.
I couldn't be happier, the financial sector has grown into a huge, unproductive drag on the economy.
Here here
Be your own banker,own gold/silver😎 recognized as wealth worlwide ,not dependent on a third party,electricity, or a power grid. Can be converted into any fiat currency.
I'm using Celsius as my bank, loans at 1% interest and putting my crypto to use earning up to 12% interest.
@@bengmelea8646 same with me! How incredible is 13% stable coin interest 🙏🏼😉👍🏼
Yep, crypto all the way.
This is happening in the UK. Laura Towler (I think that is here name). She Had her account shut for her political views without warning. That was Santander.
Martin. Please follow up with what happens when appropriate.
I find this yet another reason the big banks in this country are brought into line.
Good on Paul for taking them on! This sounds like a classic David vs Goliath battle, and once again the banks are showing they don't have any real regard for their client's interests.
How long before your social score or a refusal to be vaccinated will see you de-banked, as a private individual first, and THEN your business as well??
no surprise . Banks will not give banking services to competitors. Clearly we should make Austpost a government owned bank
I was with one of the 5 big banks for 20 years and they de-banked me, in the form, by taking away on line access to my account, which I had had for a long time. They said I was free to go somewhere else and they wouldn't charge me an exit fee.
my heart goes for this guy. Sorry to say but this is just the start, watch and see how this country like many others, going down very very quickly. All happening while people watching kardashian and the royal family drama
Unfortunately I believe we will see this happen more frequently in the next 6 to 12 months.
After the govt forcing Australians to have an account at a privately owned bank to receive wages, pensions etc the banks now don't want anything to do with us.
I liked the brown envelope with cash in it. Cheques were a pain but at least you could cash them anywhere. Banks, the oligopoly, are the new low.
I know ... We need a financial services (banking) royal commission to protect our rights. 😂
Insurers can also refuse to cover you - which is one reason GIO exists (as an insurer of last resort). If banks can refuse service there needs to be a public bank of some kind to cover people needing this essential service. This is the work governments should be focusing on to support business (not giving handouts and sticking their noses into our private lives).
' a public bank of some kind' its called precious metals and crypto. to be truly public it needs to be decentralized. but calls like yours will be responded to by the government by creating a public central bank, and at that point, its game over.
@D M Like a pyramid scheme digital money that can disappear into air....
De banking is real, de money is real, de people need to listen
Same thing happened to Me with My Company in USA with one of the largest Banks in the USA in 2018 - all of a sudden - without notification after doing business with this Bank for over 20 years. They are not required to tell you why - they can just do it.
Too many regulations makes a big 4 dictatorship. It's the governments fault. Freeing captial markets solves all problems, it's just painful initially.
Problem with reading your terms and conditions is the right to refuse opening an account if you do not agree to them when you come across these clauses.. you're still at the mercy of those who you need to do service with.
Good on you Paul - stick it to them !
And this is why you do not bank with the Big Four banks.
Switch to a credit union.
Just curious, what's the benefit?
Even more reasons to use credit unions and building societies. Or one step further to crypto and decentralised blockchains.
I too have issues with banks wanting to treat my Debit Card like a Credit Card now charging me overdraft fees when I never wanted them to permit a transaction that would put me in a negative balance.... Sneaky.
Oh man! Had this happen more than once rang up a complained had to do 3 times! Got me so angry $40 charges. For changing after explicitly saying don’t do that again
@@philaubrey4995 I dunno which is worse for if they are ignoring our stipulation out of contempt or inability to comprehend simple English...
just tell them to reverse the charges or youll close every acount that you have with them. the only way to communicate with banks is through threats thats the only thing they can understand
@@MD-of9wm they don't care... Why would someone on a low wage with low motivation for anything be bothered if I shift my megrer saving elsewhere? We are an economy of transaction managers....
@@CA999 I've always escalated the issue until you get someone higher up and I believe they are pressured to retain customers
In this specific case its anti competitive and as such should be considered a criminal act by the bank.
This is just such a reason why a post office bank is essential.
Power and water are essential services. Telecommunications and banking are also essential services. How can anyone be denied such services. This is why government must set up a publicly owned bank to provide service for all.
Well that doesn't sound like it benefits the government
@@stevensegal4697 And most of all it doesn't benefit the billionaire class .
@@stevensegal4697 It sounds like it will benefit both the government and the people. The Commonwealth Bank used to be owned by the government. Look at the tons of money they are making. That could have been revenue for government to use for the benefit of the people. With the public bank, the debank has a place to do their banking.
That one thumbs down is a brave brave being.
Its a newscorpse stooge!
7 thumbs .. makes you wonder
Sounds scary! Holding mr breath and will await watching before I exhale!
Working in the industry I am aware we have had customers come in who have been debanked who are genuine account holders. It is real no doubt about it. I think there is more to it than we know.
And this is why People don't like banks. Lets follow the example set by Iceland?/Greenland?. Where they charged the banks with corrupt practices and shut them down as criminals.
Ultimately this is an important issue. The banks end goal is, all about getting rid of cash. I'm going to go fund me page and donating!
Just wait until they get rid of cash and go into negative interest rates on your money.
The bank's behaviour is unconscionable. Whatever is in their terms and conditions is irrelevant.
Oh.....and happy to donate if that will help somewhat.
only 1 bank up in the Torres Strait Islands. They will charge what they like when withdrawing/transferring money.
Holding the elderly & anyone who can't use internet banking to ransom. Disgusting.
We all de-bank ourselves. Withdraw all your money in cash and safety deposits and everything and see what they do. Cash is King.
@D M “Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants - but debt is the money of slaves.” quote from Norm Franz.
Thank you for your work Martin
You are very welcome
Ask Blair Cottrell about debanking, happen to him years ago! 🤬
yeah this has been happening for years but NOW they care because it happens to a 'kosher' (martin's words) business
@@bruciekibbutz2947 Exactly, who cares about the little guy and his dog! 😢
Thanks Mr. Martin...ha!...oh really...well done... off to the Beak...well done Robbie.
Seems we're as stuffed as other countries with unethical behaviour. Let's start naming perpetrators and make them take responsibility for their actions. This is disgusting.
Another use case for crypto folks, you get to be your own bank. And actually earn yield on your savings too.
Wow. That's out of control
That's really messed up.
I thought this was about people leaving banks lol. Still interesting story.
But personally I've left banks, there's no savings interest. I put the money into cryto, stocks, gold and equity in start ups.
Returns are 10000x
Closing accounts or refusing withdrawals is no different than robbing.
I just noticed from reading the comments that so many people are saying go to Crypto. Very interesting. Our government is totally crap when it comes to finance
don't worry they're building their own 'crypto' which will work just as well as every other gov tech initiative :D
Good luck to you, Paul.
This is just a beginning, imagine if we were completely cashless society, what would happened if anyone gets de banked in short notice, the bank can practically make anyone homeless in no time, this message is to those stupid idiots whom uses tap and go for simple purchases like cup of coffee, cash is king, for everyone out there don’t encourage the bank to go digital or cashless anymore, start using cash more often , and don’t put your balls in bank’s and governments hands so whenever they squeeze it you jump, think about it.
I guess you have never been held at knife point to be robbed of your next rent payment and savings. Criminal's have no mercy.
@@denicebizz7342 I take my chances with criminal, what chance do you have with banks ? And what makes you so sure that banks are you mate, they are worst than criminals, the worst part is there robberies is backed by corrupt politicians and government.
@@faithfamilyfreedom5750 the banks will very soon be non existent as apparently the QFS has been activated. some banks will be of some service, I'd be banking with one of those, as for the rest, most likely they will squarm and haggle for some kind of possible position but ultimately they are done fanito, kaput. This story is irrelevant and if you don't know what the QFS is , better start learning. Money is not what it seems and is almost no longer anyway.
@@denicebizz7342 just question to mr smarty , what would you do during bail in , not bail out, when your deposits gets confiscated by the bank, when the bank have financial issues , just like what happened Cyprus a few years back, I’m not sure if read your terms and conditions when you opened your account, I doubt it because hardly any body did, because I’m very sure your bank deposit is un secure loan to the bank, so when the bank goes under, kiss your money good bye, at least with cash is still available and you notice somehow your bank is not doing well financially, you can always withdraw your cash and stashed it under your bed , how you going to do that when it’s all digital or cashless? Now let me be clear here, I’m not against people whom use tap and go or other digital way of paying, all what I’m saying is people should have the choice, if they want to pay by card or cash .
@@faithfamilyfreedom5750 yep,, but that is all going to stop with the implementation of a new currency and the QFS (Quantum Financial System) that now has been activated worldwide as from the 17 March 2021. Consider doing some research and there are only a few bank's that are allowed to service the system. Those banks that don't, I'd be getting my money out of asap, if that were me.
Yes I know banks can do this , I transfer money on a regular basis overseas to fund my retirement, I use a non bank business to do the transfer because the fees are cheaper and the exchange rate is much better , one day I was told by that small business, that his bank had closed his accounts , so I could no longer transfer money from my account to his account , so that he can transfer overseas , until he could make new banking arrangements I had to go to my bank withdraw cash and walk 200 meters up the street and deposit the cash with the business, when my bank asked why I withdrawing so much cash , I told them I was using another business to transfer money overseas, because I was saving a lot of money , they weren't very happy about that. This is another reason we must always have access to cash . If you need the name of the business this happened to, I can supply it.
Wasn't there an enquiry into the banking industry ????... Sounds like Gready bank managers at it again !!
And finance ministers making more money for nothing 🤦♀️🔥🎪🐝
Hang on? The money raised by Gofundme goes to the hospital AFTER all legal costs have been paid AND the "winnings" go where exactly?
Go fund me will have goooonnneee already silly. Its not cheap to do this.
@@giterdunpete so all of the gofundme goes to the legal costs, and what's left over goes to charity. If he wins, he gets to keep the winnings. So the hospital will be getting leftovers of the gofundme money? A few dollars?
Contact your customers and ask them have they been approached by this bank to deal with them instead?
Comm bank Refused me all. Closed my accounts told me go elsewhere. No reasons etc. Had a large loan Paid off in record time. Never missed payment. WRONG banks shouldn't be allowed.you need banks
I have noticed your drivers license / fishing license / gun license can be wiped in the same way !! Watch out people!!
Tell me something considering this debarcle how can a Bank support a company operating in Australia that does telephone scamming and the Bank knows its doing it. How can scam companies open bank accounts as they are an illegal operation and the people in the company hide behind confidentiallity
its almost like the people who control the banks rule over us and aren't subject to the same laws we are
@@bruciekibbutz2947 Correct this is why they get a slap over the wrist insead of a stiffer penaltly like Goal
My guess is the banks identified him as a high risk business for money launderers.
Hi Martin, this came up on my alerts, ironic with the Farage situation. Are you going to visit this again? I never realised how huge this issue is.
Yes, will do so soon... its a BIG issue....
This is along the same lines as the Australia Post fiasco.
If the Australian public is not aware of Ricardo Bosi from the Australia One Party, in my opinion they had better, for them and their children’s sake of our future, he has a UA-cam channel, Joel Jammal.
Sorry, I want Australia to be lead by an Australian.
@@bruciekibbutz2947 what a ridiculous comment.....stupid beyond belief actually. Listen to Bosi he is Australian as they come. Listen to his thoughts on combating the grubs that are currently in charge and your crazy thinking just maybe changed...
@@saltiplumz2103 Australian is an ethnic group formed by Anglo-Celtics and Irish. Bosi is Greek. He is not Australian. I can't support a Nationalist party lead by someone not of my nation. If someone with no ethnic Greek heritage tried to lead a nationalist party in Greece, he wouldn't be taken seriously at all.
@@bruciekibbutz2947 ok so any ethic that helped build this nation from the past cannot be included. Right we have established that so far. So those included are those ethnic's who helped build the snowy river hydro system plus dams plus becoming farmers for our nation to feed upon their fresh produce, all of which makes them redundant to run a political party good enough for you to support....good stuff, I wouldn't be to proud if I were you.
@@saltiplumz2103 Yes. I'm a Nationalist and I'm Australian. I want a leader who is Australian. Do you think working hard in Greece will make you ethnically Greek? Will the Greek people vote for you if you run on a nationalist platform? no.
The Chinese did a lot of work on infrastructure in this landmass too. Why not just elect a Chinese person to lead your nationalist party? If that would be fine for you, then we're just ideologically opposed fundamentally and there's nothing more for us to say to eachother.
I hope Bosi does some good in this country, but I am not offering my support as a nationalist to someone not of my nation. pretty simple really.
Can I invest in this class action?
Does unfair contract stand over there?
It's a joke the way this world is going.
Time to get Australia Post people's bank running
All they understand is the bottom line close down all your accounts and go to credit co-ops.Pay them back this way mass close down of people's accounts.
My Company De Banked last week. No reason given.
NAME AND SHAME THEM!
Decentralized finance is slowly gobbling up the banking cartel. Cut out the middle man ( banks) and buy bitcoin . Be your own bank.
I dont like bitcoin because of what I see as a speculative bubble but your point is one that IMO has a lot of merit
Power corrupts, entirely!
Good luck Paul!
Though, don't ask the government for help, their campaigns are funded by the banks!
What bank is that?
Gab got completely shut out no access to any form of payment processing, web hosting services and app stores basically everything needed to run the company , just for there browser extension dissenter that simply allows you to comment on any webpage so ppl can interact on webpages with comments disabled
Use credit unions more, avoid the big 4.
Hey Martin!
I feel like you should be on clubhouse. I think you’re presence on there would be useful!
You need to be on iPhone to use it. If you want an invite I have a spare
If you "need to be on IPhone" thats good enough reason for anyone to FORGET IT! Steve Jobs NSA mono-culture.
@@maxdoubt7680 I love the conspiracy theorist on here. Quick put the tin foil hat on
I'm not really sure why people use the big banks. They are awful, there service is bad and their costs are high. Let the free market decide, oh wait, we don't have a free market...
Prepare by, backup, backup, and offsite backup. Remove and shred, Diaries of every minute. Someone, has been planted inside. This is the first step/guarantee they make to protect themselves. Learn everything you can about psychopaths.
Must be CONbank!
Hello all
Insidious
Bingo!!. Eradicating the competition. Save's time over the hostile takeover approach.
skip intro 00:40
Sounds like typical financial engineering by banksters. Extend credit until you're at the point when they call in "your" loan. Then you're done. Good luck finding an alternative.
banking is old and dysfunctional, they dont see the new digital economy being built right in front of them that will be more than 10x more efficient and easier to use. banks will be like cd players, phone books, paper books, alarm clocks, fax machines and everything else digital software has eaten up. This actions just speed up peoples transfer to blockchain / digital finance world
this is why you need ALGORAND
Make them pay you out in $100.00 bills.
✌🏽
Dont buy bank shares ... dint birrow ANY money from banks ...
NAME THE BANK BROTHER THIS IS WOEFUL BEHAVIOUR
Name and Shame.
You might think about running your business on BTC
His business is cash handling & transportation, physical AUD mainly i'm thinking.
@@ayaygabriel Yeah, his business is cash handling but he could accept payment for his services in BTC or another cryptocurrency.
why do you refer to his business as 'kosher'? how weird would it be if you called it 'halal'?
kinda weird to use a foreign culture's word for 'clean' when describing whether or not an Australian should be able to do business in his own country.
rhetorical questions of course
This is very bullish for crypto
Bank Australia all the way
This happened to gun shops
55k in legals. Emotional rollercoaster. Presumably a lot of time and effort.
Failure to read the T&Cs is not a defence.
I would just move on, and split the banking between two other houses of ill repute (banks).
Start using Bitcoin
Its too expensive so its not viable.
Please don't respond and say well you should have gotten in early.
How can be bitcoin be an 'alternative' when only the rich can get on board ? Thx
XRP
Westpac did it
RRRRRhhhh RAH
Just another reason that peer to peer crypto lending will soon "De-bank" the banks...
Come on guys, you need to be bigger and stronger than this. Playing with THE BIG BOYS you need to not look so GAY DFA.just saying.
Buy BITCOIN!!!
Wanna kill the banks? Go all in on Crypto and stake your holdings. Spend your gains through the crypto.com card. Win Win for the little guy!!
So he thought “why not” after hearing someone else got an $80 million settlement and wants everyone else to crowd fund him 🤔
The defence lawyers should rip him to pieces after hearing his motivation
Perhaps that was moreso a possible outcome than his singular motivation here.
@@ayaygabriel
Spending 50 grand to stay with a bank that doesn’t want him is ridiculous
He could make a complaint to his local representative and tell his story to the media without chasing an $80 million pay day
He’s even figured out how it will be spent
As a BANKWEST Customer you may be De-Banked at any time. The action taken by Bankwest to close your account/s will be based on a Commercial Decision that BANKWEST has determined.
PLEASE NOTE: In doing so, BANKWEST will NOT provide you with any further written explanation, other than a Commercial Decision has been made to close your accounts. The Banks decision is FINAL, and you, OUR CUSTOMER, will not be given any opportunity to a Right of Reply, relating to the closure of your bank accounts.
After your account/s have been closed, you may receive the following in your final communication from BANKWEST. ‘I hope the action I have taken has helped to restore your confidence in Bankwest’ This is what was included in correspondence I received from Bankwest when my accounts were closed.