Michael McGuire Posted January 26, 2014 Posted January 26, 2014 Seems like this should be headline news. A bank restricting withdrawl of large amounts of cash. I thought they meant $100,000+ or something but no, they mean large amounts for a working class person, as little as $5000. The banks are demanding to know what the money will be used for and will not release it without an invoice or letter from the inteded recipient(personal loan repayments). I will be taking almost $10000 out of my Tax Free Savings Account shortly(TD Waterhouse), I wonder if they will give me any problems... http://www.bbc.co.uk/news/business-25861717
dsayers Posted January 26, 2014 Posted January 26, 2014 This is the problem with arbitrary rules: If it doesn't suit your purpose in having such a rule, you can just move the lines until it does. It used to be 10 Gs was the red flag line. Like the only reason somebody would need their own money is for illegal activity. Or it could be the mark of an impending collapse if a bank is so mismanaged that for somebody to withdraw that level of money would damage their ability to function as a bank. Either way, scary stuff.
Wesley Posted January 29, 2014 Posted January 29, 2014 Bitcoin holders must love this kind of stuff You can send any amount, for free, to anywhere in the world within a few minutes. It does make you look at the current financial system with pain and laughter simultaneously.
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