Banks dont want to give you your money.

This Aussie guy went to the Commonwealth Bank of Australia to withdraw fifteen grand. They said they were protecting him from getting scammed. Then refused to pay out. That's a good one. I had the same thing not so long ago doing a bank transfer on the phone from the same Bank. They wanted to know what I was spending my money on. It is looking very strange when you can't access your own money. If they can't pay your own money,The reality is they haven't got it, then when looking at the latest bail in-laws , they have every right to refuse as it is now their money. www.bitchute.com...

a reply to: anonentity

One of the big red flags right before a collapse is banks who refuse to give you your money.

a reply to: everyone

It is a great way to delay a run.

a reply to: anonentity

That's a lot of money to withdraw on a whim. Most banks don't have that much cash on hand, or if they do it's a large chunk of what they have.

I've made larger withdrawals before no issue. I just scheduled them a few days ahead of time. Usually it's within three days, but holidays and higher demand can make it take longer.

You have to book that type of withdrawal in advance. The banks can’t accommodate it if you don’t.

a reply to: anonentity

I exchanged 15 grand in 20s for 100s at a local credit union without an issue a few months back- other than they had to do special government paper work for someone handling that volume of cash.
I didn't care for it, but they had no problem coming up with that much money...

a reply to: anonentity

The simple solution is a cashier's check. Don't know if Australia has them but the last car I bought was with a cashier's check well over that 15 grand.

a reply to: lordcomac

It usually depends on the branch you're at. Branches that do more volume will have the cash on hand, while smaller branches don't.

I've done the same here in the UK, withdrew a fair amount. She asked me what it was for and I said booze, birds, and a fast car, the rest I'm just going to squander!

Nah, I just said it was for a car purchase, and they looked at each other and then said to me are you sure it's not a scam and they don't usually give out that much money etc. They even asked where I was purchasing the car from, nosey bastards! I just said uhh down in Northampton. Anyway they eventually gave me MY MONEY.

If they declined I would have probably told them I want to immediately withdraw all my money and close the account.

If they haven't got the cash then fair enough, tell me to come back in a couple of days to collect. But what I want to do with my money is no one's business but my own.

originally posted by: anonentity
a reply to: everyone

It is a great way to delay a run.

It is a great way to delay ensure a run.
Fixed that for ya non. I think the housing bubble is only a sliver of the bank
deal going down NOW, we really have been monetizing pure debt with more
debt for way too long. And God ain't the one issuing cards this year either.

a reply to: cmdrkeenkid

This is very true. If you want to take out that amount of money you need to call ahead so that the bank can get the cash, there. This was a precaution that many banks have in place so that if something happens at the bank not very much money can be taken or destroyed, but also so that a full on "run on the Bank" can't happen to the cash supply.

So if you want to take that much money out, then call ahead and place an order for the cash. I had learned this when I took out 25k in cash at a bank, so that a kid could have their college money after they decided not to go to college. 25k is a lot more cash than most people realize when it's all in paper form. Cool to look at though.

Fun story they put some of the cash on their bed, and months later when they moved out, I was still finding bills in their room. Apparently 25k is also hard for some people to keep track of.

a reply to: billxam

They don't do them anymore.

They limit the amount you can withdraw at the ATM of course and even then the few hundred dollars cash looks suspicious too. I'm surprised that the ATM doesn't ask questions.

Also, I've noticed when I use my debit card at the gas stations around here and want to fill both tanks, I can't because they limit that to $70 dollars at the pump I believe. I try to keep cash on hand at all times regardless if it's fiat funny money.

On a side note, our money is getting so worthless, you have to pay someone extra to take it. I've heard that's called inflation, yet the money in my wallet isn't getting any bigger.

I don't know about Australia , but here in the US the banks have to do such.
No ,it is not for nefarious reasons , nor because they don't have it .
Over a certain transaction amount and the banks are required by federal regulations to put a "hold" on it and notify them

a reply to: Guyfriday

In my case, i went to the bank to get a cashier's cheque, and they said they did not do them anymore, so I said ok give me the cash, they said they didn't have enough 15 grand. So Since I was supposed to do a deal when the customer arrived, I asked them how was I supposed to do it. They said just phone the Bank and do a transfer. The night the item arrived I checked it over and I thought the deal was good. Got the customer's bank number, and when I got through to them after a prolonged interval of music, they said they couldn't transfer over ten grand.I blew my stack, and they put on to the manager. They knew I had been to the bank and had done all the right things how did they know that? since i was talking to some central department and not the hick branch i went too. she said since I had done all the right things she would put it through for me. But they had to fill in a load of stuff if it was over ten grand, she asked if I was happy with that?. I said it would do, they didn't want me removing my account. She still wanted to know what the purchase was all about, that probably is for the government, there are only so many barriers that you can put on free trade until you kill it.

originally posted by: Gothmog
I don't know about Australia , but here in the US the banks have to do such.
No ,it is not for nefarious reasons , nor because they don't have it .
Over a certain transaction amount and the banks are required by federal regulations to put a "hold" on it and notify them

Yes. It's $10,000.00 in the US. It's an anti money laundering measure. Australia might have a similar law.

originally posted by: cmdrkeenkid
a reply to: anonentity

That's a lot of money to withdraw on a whim. Most banks don't have that much cash on hand, or if they do it's a large chunk of what they have.

I've made larger withdrawals before no issue. I just scheduled them a few days ahead of time. Usually it's within three days, but holidays and higher demand can make it take longer.

But then we also have this:

I had the same thing not so long ago doing a bank transfer on the phone from the same Bank. They wanted to know what I was spending my money on. It is looking very strange when you can't access your own money.

Thats not even a withdrawal but a transfer from accounts within the same bank. Since when do we need to make appointments for those?

a reply to: anonentity

id you tell them what it was for ?

I know i wouldnt.

a reply to: everyone

They wanted a response so I gave them one. They were happy and I got what I wanted.

a reply to: 1947boomer

Don't worry they reduced that limit to start tracking your bank account at 1 grand, they tried for 300 but decided it would red flag everyone and crash their monitoring servers.

Which pretty much toggles on any large purchase instead of just electric and water bills.