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 Post subject: BANKS REFUSING CASH WITHDRAWALS
PostPosted: Fri Jan 20, 2012 10:31 pm 
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BANKS REFUSING CASH WITHDRAWALS

Ann Barnhardt

I have received enough calls and emails on this within the last few weeks to A.) cause concern and B.) merit a post.

People are having difficulty withdrawing cash from banks. I just received the SECOND call on this from California this week. The question is, do banks have the right to deny you cash withdrawals?

The answer is NO. They do not. And both of the men I have heard from in California were obviously being bee-essed by their bank. The bank couldn’t cite statute, and then started haggling over the amount of cash withdrawals they would allow. That’s your dead give-away. If there were ANY statute or actual rule, the bank wouldn’t set up a conference call and then start haggling. You don’t haggle over laws and rules.

What banks can do is ask for up to 7 days notice on a large cash withdrawal just so that they can order the cash in special and not completely drain their cash on hand. This is very logical and sensible. For transactions over $10,000 the bank also does have to file a transaction report. Again, this is standard. We may not like it, but that has been the law for a very long time.

Also, one chap in CA reported that his bank told him that if he took more than $20,000 out of the bank in cash that he would have to hire an armored vehicle and security. This is an abject lie. $100 bills are bundled in 1/2″ stacks. a 1/2″ stack contains 100 bills. Therefore $20,000 would be two standard 1/2″ stacks of hundred dollar bills, which would fit in ANY purse or easily into the inside pocket of any men’s sportcoat. We aren’t talking bags and bags of cash. Cash is still shockingly compact.

For now, what I would recommend is setting up your new destination bank account FIRST, and then simply closing the old account with the mega-bank and taking the deposit in the form of a cashier’s check. Then drive the cashier’s check directly to the new bank and deposit it. BUT, if for whatever reason you want or need cash money, no, banks have no right to deny you cash provided you give them the sufficient 7 day notice.

Limiting cash withdrawals is a sign of an insolvent or failing banking system. These sorts of limits are happening in Italy as we speak. It is very telling that banks in the U.S. are now lying and dissimulating in order to avoid and thwart cash withdrawals by their customers.


http://ncrenegade.com/editorial/on-banks-refusing-cash-withdrawals-ann-barnhardt/#comment-9399


Frank

Interestingly enough, my bank did the same thing at its headquarters. So, they had more than enough cash on hand. This happened in Rockford, Illinois and they refused to cash $20,000 in Cashiers Checks even after they had been verified. Needless to say, we got rid of the “soon to be worthless” Federal Reserve Notes for gold and silver. We intend to keep no more than the bare amount of cash required to pay automatic withdrawal payments from this point forward. Everyone had better be doing this as these criminals will soon declare a “bank holiday”.

Verified Experience

I experienced a similar situation in SC when I withdrew $40,000. I though they were going to have a hiccup. However, the bank gave me the money. Oh, about that transaction report I told it I needed it for hunting. Signed it “Duck Hunter”. I felt like to ask someone what they want their money for is an invasion of privacy. They didn’t ask me why I was putting it in their bank! Why ask me why I want to take it out?


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