bitcoin vs USD

Where ever you do banking – don’t do it with NAB (Australia)

So after getting really pissed off and telling NAB on twitter (in a not-a-very nice manner) that I opened a complaint with FOS (some financial oversight organization in Oz) and notifying them I had reached out to a lawyer I got a message back in <1h completely contradicting what they said on the phone the first time..They CAN override it with just some extra security questions…Of course I replied by saying that is exactly what I asked the first time and I ask them if they just flat out lied to me on the phone in that case..

Another hour after (just now) I get a phone call from the same lady who first said -really- the only option was the old phone number and she said they now ‘they’ made it possible for her to overwrite it by only giving my passport number (again a super old one from 2011 but I did still have that one at least)

And voila while on the phone I get a text message on my correct number that my NAB SMS security phone number now has been changed..

Now I can finally start transferring money out of there.

What do you think it was that solved the problem:
a. their twitter support is just really good and has much more power / knowledge then people on the phone
b. the FOS complaint I filed
c. the threat of a lawyer

I wonder….

NAB Australia bank is absolutely the worst bank EVER – whatever you do, do not ever open an account there.
This little story is just something I wanted to share as a digital nomad having lived in Australia (Brisbane) for 1.5year. While I was there I opened a bank account (was needed for University) and always kept it to be a useful tool while travelling (having multiple bank accounts in different countries is one the 6 flags in the 6-flag theory)…
So it all started when my card expired about 1.5 years ago and it took NAB about 4 attempts over 30 secure online messages (inside their online banking system) and over 8(!!) months to send me 1 of the 2 card replacements (the other one I still don’t have)… while communicating with them via these online ‘secure messages’ I’ve provided them my address multiple times and my international phone number(which has been the same since I was 15 years old) at least 10 times in the 30+ messages I’ve sent them.. (every message I send takes them about 7 – 10 days to reply).

Besides the huge failure of them to do something as simple as sending me replacement cards I also experience that in 
every country I go they keep randomly blocking online and offline transactions (and yes in their system I keep them updated as to my location in advanced to avoid this shit). This is obviously a HUGE inconvenience every time sometimes even bringing me into problems. And every time it happens and I ask about it I get either: ‘yeah I see it, I’m not sure why – just try again‘ or ‘I don’t see anything at all‘ BS.
So I’m just so sick of the worthless service and systems from the stone-age they have, I’m done. I’m going to close my account. I want to wire transfer all my funds out to another bank and get out of there ASAP…. but….
For that to work I need to receive an SMS because their systems are from the year 2000 (hello bank card readers or even just Google Authenticator).. and of course even though I’ve given them my correct international number 10+ times they keep sending sms to some 10 year old Australian number.

So I call them.. if by a miracle I get through their absolutely WORTHLESS phone system* and waiting 30 minutes or more to get connected to a human being and tell them update my SMS security number because I want to transfer money.

*so when you call they ask please end your NAB identification number followed by a #.. I enter mine.. and it just repeats.. every fucking time. Then when I finally get somebody on the line.. and tell them their system is again not working. Oh yeah you have a short NAB id number….. eeh yeah and?!

Turns out.. “sorry there is absolutely NO WAY we can do that without your old number“… I explain them.. its over 10 years old I have no freaking idea and there is no way I’m gonna find out.. but still: ‘Sorry that is the absolute only way‘.
I say – ask me anything else.. what-ever else you need I can proof I AM me.. check your records I’ve given your correct numbers many times in YOUR online secure messages..
No sir its just not possible its our security process only your old numbers there is nothing we can do.


So what is my final point of this post (other than the obvious rant)?

THIS people is why Banks will fall.. people WILL get fed up with these worthless piece of shit big old, slow, no-service companies. And BITCOIN (cryptocurrencies) will be there to pick up the slack.. the inefficiency, the worthless non-service, the complete lack of systems that actually WORK.

In the next 10 years SO MUCH is going to change, the economy is going to crash in the next 2-3 years (its way overdue and every smart economist says it – don’t believe me – do your research you will find out for yourself). Cryptocurrencies will become the smart bet (the new gold) and if you don’t catch up.. you WILL be left behind.

So time to start preparing!

bitcoin vs USD