My new bank proved me why I love crypto (and my mom) and dislike banks

Backstory

Nearly all of us are aware interest rates are increasing the last couple months and so does the interest one receives for storing their fiat on a savings account. Around a month ago I made the decision to switch banks because I would be getting a decently higher interest rate for my fiat somewhere else than with the bank I was with at that time, atleast a good enough difference to put the effort in to switch for that extra bit of cashmoney.

I opened my new bankaccount and had to go through a KYC, credit where credit is due it went all very quick and smooth. During the process of opening my bankaccount they also ask the question how much money you think you will move in total through your account (deposits and withdrawals/payments) in the first year so they can take pre-emptive measures. Answer this question truthfully and even went a bit higher than I'd expect, just in case so there won't be any problems. 'Better save than sorry'. We all good, couple days later received all the needed papers, card and ofcourse the polite question to start depositing money on my bankaccount so they are able to issue the monthly fee for their services.

I start transferring some funds from my old bank to my new bank to start using it. A couple €100 to pay for some groceries etc. Close to a month had passed, new bank felt good and went on to close my account with my old bank and moved all my funds (5 digits) over from my old bank to the new bank. It was a decent chunk of money and I didn't think anything of it because I had to answer the question I mentioned before about how much money I expect to move through my account. The sum moved was about 25% of what I answered I expect for the year.

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Why I dislike banks

The next day the transfer came through and the money was sitting save in my new bankaccount. Still a bit of relief it all went OK and as expected. Go to work without having to think and check all day if the transfer finally came through. Fast forward to the end of the day on my way to the grocery store before I head to home, enjoying some music and see my fuel tank is close to empty so I need to refuel. I go to my local gas station, refuel and went inside to pay: card declined, not enough funds. First thought was 'bitch, I know gas prices mooned, but I'm pretty sure I should be able to afford a full tank of gas with 5 digits on my bank account. Maybe the terminal showed the wrong error and I entered a wrong code'. Slightly embarrassed try a second time, same response 'not enough funds'. Asked the cashier to give a second, went on to check my balance on my phone and I saw this:

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Yup, that's exactly what it looks like. -€400.000,00 balance (translation is 'spending limit').

Tried contacting my new bank at around 7pm, not available because it was passed work hours. Called their emergency number, explained the situation and got the response this wasn't an emergency but a standard procedure because a large amount of money was transferred into my account (despite having to answer the question how much money I expect to move through my account in a year so they are able to take pre-emptive measures) and had to call back the next day to sort it out with the 'regular workers' and it could take up to another 2 days before the 'debt' was lifted.

Obviously can't leave gas station without paying and had nothing I could do to pay for it myself, because the last time I had cash on me I was still a teenager. Couldn't get any cash out of the ATM, because the bank decided I was 400k in debt. So I had to phone my mom to ask her to come over so she can pay for me. Had to wait 15 minutes, tried to explain the situation to the cashier to try and relief the embarrasment of having to call your mom as an adult to come and pay for your bill. Mom comes to the rescue, saves the day.

Still had to get groceries so I have something to eat, so again had to ask my mom if she could come with me to the supermarket and pay for my groceries. While we were in the supermarket and explained the situation in more detail to her and she was getting a bit heated too because 'how are they allowed to lock all your funds, have no access to it for a couple days and rely on other to pay for you in the meantime without warning?'. I said to my mom 'see, this is why I like crypto and dislike banks. With crypto, I'm my own bank' and at that moment it finally clicked with my mom and she understands a bit better why I hold crypto.

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Never too old to learn

A couple days later my mom asks me how she could get some crypto because she didn't like the situation with the bank. I explained it to her, but instead of letting her buy it herself I decided to gift my mom some sats instead. She looks every day at her app to see how her little bag of btc is doing and whenever I see her she asks me 'why is it up/down xx% the last week?' because she knows I try to keep up with the news. I love her genuine interest and despite being from an older generation still open to learn new stuff. Love you mom!

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Clown of the story: Me, for thinking moving funds from one bank to another will happen without issues.

Moral of the story: Crypto good, banks bad, love your mom

MVP of the story: Mom