posted on Mar, 23 2013 @ 04:23 PM
This is what happens when you try to remove physical funds from one of the top banks in Canada.
After we heard the breaking news of what was going on in Cyprus last week we immediately removed 5K in cash from one of our accounts.
I would guess that equals about 2500 Euros or so give or take.
It was not really a big deal but we did have to phone in ahead of time to make an appointment to get our own cash out.
This particular bank started this appointment policy for anything over a $3000.00 cash with drawl about 3 years ago and that made us wonder a bit but
did not set off any alarms right away.
So after the bank holiday in Cyprus was extended two more times in one week and as best as we can ascertain they are still closed we decided to get
another 10 K out pronto.
So we moved some funds from here to there to prepare for the appointment to get our own money out, sounds easy right?
The money transfer was without pain and we had the scheduled appointment for this morning at 11 am.
It did not go as smooth as you might think......First off arriving at the bank they asked the wife if she wanted a draft and not cash. I was not
present for this following tale but my wife is a former bank teller and knows the in and outs.
The next questions were as follows, Why are you taking money out today when you just took out 5K last week?
The wife (YogaGinns) a member here, told them we do not like what is happening in the banking sector today.
They then went to great lengths to assure her our money was both insured and safe in their bank.
The wife then stated that this is not the case in Cyprus and could happen here at any given moment.
Then the wife asked the teller how much interest has my 15K earned in the last 3 years.....good on the wife because the teller just shrugged and
looked like a deer caught in the headlights at night.
So now it looks good for this transaction to actually take place. Next the wife had to provide 3 forms of ID with a photograph, answer 8 to 10
questions which were very personal. They asked these questions to verify her identity as if 3 pieces of ID with photos were not enough.
Next the said she had to sign a Waiver to absolve the bank of any Liability if she were to be robbed of the cash on the way home!
As the wife says to me " Why would I blame the bank for getting robbed of my own cash?"
Now it took them about 10 minutes to find this certain form and I suspect that amount of time was allotted to give my wife pause and change her
She held fast and after much more time than necessary left the bank with our money that was earning ZERO interest successfully dodging the muggers
waiting in broad daylight on a Saturday morning in a very populace neighbourhood.
Some things come to mind here for obvious reasons, first is why the defense mechanism in place all of a sudden?
This bank has the information of our whole portfolio and they know what we are worth on paper anyways.
We own our home free and clear, we some major stocks in the energy sector which we do not have faith in.
Why make a big production about signing the waiver and this was done right at the teller in front of all the customers within hearing distance.
We are talking about 10K not a lot of money today, Lots of folks don't seem to blink an eye at dropping that amount on cars/plasma tv with surround
sound/a cruise on a ship/new kitchen or bathroom.
We have the ability to charge up to 20K on our one and only credit card and I can assure you that if we did the charge would be uncontested......Hell
yes charge to any amount you want just don't ask for cash.
But when you want it out in cash all of a sudden there are the "Cash Police" popping up in you local bank.
This story is factual and occurred this morning......
My point is the banks are very aware of their own faults but yet convey positive thoughts in a storm.
To the mods, I thought this forum best but do move it as you see fit.
Looking forward to any input positive or negative......
Awareness just might save you some money.