Lloyds Bank, the horrific experience of losing a huge income.
Firstly, I would like to thank my near 10 000 followers over all my social media accounts, your support and assistance in the “partial fix” to the ongoing situation is highly appreciated.
A lot of you sent me direct messages asking exactly what happened with Lloyds Bank so I thought I’d share my horrific day with all of you.
As most of you know, I am a full-time trader, I make a living off it and have no other source of income. Recently I had told my followers I would be staying out of the market till the opportunity presents itself, which just happened to be yesterday 20th July when the BIP91 protocol got locked in on BTC and pushed the price up a staggering 28% in a 24hour period.
Even thou I told my followers to “buy BTC with every penny” I unfortunately was left in the dark thanks to Lloyds Bank, unable to grab the opportunity myself, unable to make a profit and unable to make that nice paycheck that most of you receive at the end of the month.
I had kept 35 000 Pounds (Around $45 000) aside specifically to open a huge BTC buy position on margin, that was until when I tried making my deposit my nightmare started. Payments kept declining so I done what anyone else would do, contact my bank. At first, I thought a simple phone call would fix the problem and I would be on my way, opening that large BTC position and reel in the money. Unfortunately, it was not that simple, being sent through from department to department, person to person, having to fax threw documents only to be told “We don’t know what the problem is” and spending a total of nearly 10 hours of my day just on the phone which you can just imagine how beautiful my phone bill looks with 10 hours of International calls on it. It was not a pleasant experience at all.
THE START OF THE DISASTER
When did society come to the point that we cannot even rely on the people that hold our money for support, where we are treated just as another number to them yet they brag on social media on how important their clients are to them. Have we reached that point? Where no matter how many times you tell the person on the other side of the phone that the situation is urgent and it is your income at stake and they do not even put one bit of effect to get the problem resolved even knowing that you have just spent 10 hours on the phone with and spoken to nearly 20 different employees, it really sad indeed. Eventually I got frustrated. I missed a major opportunity and still did not have access to my funds so done the only thing I could, turn to social media, if a company that is supposed to be my financial backbone is not willing to help, perhaps society will.
I was surprised by the support and messages I received and finally, I got Lloyd’s attention, my problem was being looked into and very quickly was resolved. One man managed to do in 5 minutes what nearly 20 employees could not do in a period of 14 hours! Amazing! Personally, I think he deserves a promotion as he is capable of doing what 5 different departments could not resolve together.
Sadly the “promise” of great service and of how valuable your business is to Lloyds Bank is far from true, I noticed today that they will not give a shit if you are loosing income or don’t have access to your funds to feed yourself and your family, you placed on list and told that they will get back to you which that time never comes, even when they are the ones 100% at fault. Now wonder that statistic show that 1 in 3 people feel that banks don’t care.
So now the answer comes that many have asked me, “just how much did you loose”. Well taking the telephone bill that I am even scared to look at out of the questions, its save to say that I lost out on $75 000 of income at the least.
When I attempted to buy BTC to be able to margin BTCUSD, the price of BTC was at $2520 per BTC. So, $45 000 would of given me roughly 17.9 BTC at the time.
That alone at this moment would be worth $53 000 at the current market price this alone is a $8000 loss, but what about the trade? How much did I loose there? How many days, weeks or months will it take to find another solid opportunity with the odds both fundamentally and technically are in your offer? A rock-solid trade that even beginner will know it’s a time to buy, it does not happen often.
Fortunately, I had a very small amount of funds available in BTC so I managed to trade a small position and luckily I can show how it went and here it is….
BitMEX position
So with $2700 dollars that luckily I had in the account I managed build a position worth $190 000 in total value. Which gave a total ROI of 322.35% on my invested capital which you can see in green on the above image.
Therefore, if my deposit was successful and I had used the capital specifically set aside for this trade but Lloyds took that opportunity from me I would have made 322.35% on $45 000.
This would total to a profit of $149 602.50. which instead of a huge profit I now have a huge loss of income that I have no one but Lloyds Bank to blame for. If considering the price increase in BTC as well, profits will easily exceed that in USD value if the current market price is taken. So saying I lost at least $75 000 is being conservative.
So, I ask the people that have taken the time to read this article, what would you do? Would you just let them get away with making you lose income and not being held responsible for it? Or would you do something about it? What would you settle for!?