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Started By
Message
Banks Blocking Large Withdrawals without Proof of "Spending Need"
Posted on 1/27/14 at 11:13 am
Posted on 1/27/14 at 11:13 am
10
Posted on 1/27/14 at 11:15 am to anc
quote:Bank is in England according to the article.
Are we in America?
quote:
If you bank at HSBC in England, don’t plan on making any large cash withdrawals. At least not without a good explanation. Or, maybe even a permission slip.
This post was edited on 1/27/14 at 11:16 am
Posted on 1/27/14 at 11:15 am to anc
This has been going on a while, I tried to take 12,ooo to buy a truck and they would only give me 9,999.00. I had to write a check for the rest.
Posted on 1/27/14 at 11:15 am to anc
quote:
Are we in America?
yes but that is in England
Posted on 1/27/14 at 11:19 am to Hawkeye95
quote:
yes but that is in England
My bad. My mortgage is with HSBC. I learned they were British about 60 seconds ago.
Still sort of weird.
Posted on 1/27/14 at 11:22 am to anc
quote:Yes, and I could definitely see it happening here.
Still sort of weird.
Posted on 1/27/14 at 11:22 am to bencoleman
Same thing here, couldn't get my own money.
Posted on 1/27/14 at 11:24 am to anc
quote:
"We have an obligation to protect our customers, and to minimize the opportunity for financial crime,” HSBC said in a statement.
I actually agree with this.
Just write a check for amounts exceeding $10K. I cannot recall ever needing more than $10K that couldn't wait three days for a check to clear.
If you don't like HSBC's security policies then bank with another bank. In particular, I like its policy and I'm sure they have exceptions for some customers.
This post was edited on 1/27/14 at 11:25 am
Posted on 1/27/14 at 11:25 am to anc
Posted on 1/27/14 at 11:30 am to GumboPot
isn't the amount limit on giving a cash gift 14k?
Need that paper trail for the IRS, just sayin ...
Need that paper trail for the IRS, just sayin ...
Posted on 1/27/14 at 11:30 am to anc
holy shite i would go postal
Posted on 1/27/14 at 11:31 am to Jbird
quote:+1
Same thing here, couldn't get my own money.
Had to get a cashier's check. Lot of hassle to get my own money.
Posted on 1/27/14 at 11:34 am to Draconian Sanctions
quote:
holy shite i would go postal
Posted on 1/27/14 at 11:49 am to GumboPot
Let my bank try that I dare them
Posted on 1/27/14 at 12:07 pm to tatervol
I wish I had enough money in my bank to have this problem
Posted on 1/27/14 at 12:15 pm to bencoleman
quote:
I tried to take 12,ooo to buy a truck and they would only give me 9,999.00. I had to write a check for the rest.
This was only because the bank teller was too lazy to do a CTR, which is required for all cash transactions $10K and over. The bank could be in deep doo doo if this is the case.
Posted on 1/27/14 at 12:21 pm to anc
i'm with Bank of America and just pulled out $9700 cash a couple of weeks ago. just showed ID (disenfranchisement) and debit card and no questions asked
This post was edited on 1/27/14 at 12:22 pm
Posted on 1/27/14 at 12:22 pm to anc
I have had it happen a few times. Not needing permission, just limited on the amount I can take out without letting the branch know ahead of time. They need certain levels of cash on hand and when I showed up late in the day asking for $50k in cash they couldn't do it.
They said the limit without notice is $10K - I got a little pissy and the limit was suddenly $25K, not the 50 I wanted but enough to send me on my way.
The day the bank says for what is the day I start building pipe bombs.
They said the limit without notice is $10K - I got a little pissy and the limit was suddenly $25K, not the 50 I wanted but enough to send me on my way.
The day the bank says for what is the day I start building pipe bombs.
Posted on 1/27/14 at 1:07 pm to Mid Iowa Tiger
quote:
I have had it happen a few times. Not needing permission, just limited on the amount I can take out without letting the branch know ahead of time. They need certain levels of cash on hand and when I showed up late in the day asking for $50k in cash they couldn't do it.
They said the limit without notice is $10K - I got a little pissy and the limit was suddenly $25K, not the 50 I wanted but enough to send me on my way.
The day the bank says for what is the day I start building pipe bombs.
I think this has to do more with the cash kept on hand. Banks keep a limited amount of cash on hand and it tends to be a lot less than people think. 50k in cash in one transaction may have been more than they could do without notice allowing them to order more currancy.
All banks require a CTR for cash transactions over 10k. This isn't a bank rule, this is a government regulation which requires paperwork to be filed with the IRS.
Posted on 1/27/14 at 1:11 pm to anc
quote:Even more so, if you know what HSBC stands for.
sort of weird.
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