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Chase, HSBC & others nationwide Limit Cash Withdrawals, Ban International Wires

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posted on Oct, 23 2013 @ 01:08 PM
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This is worse than a run on the banks!

Instead, US banks have already started ban large withdrawals ($50k for now, which is only 20% of the FDIC 'insured amount', as well as international transfers (of any kind/amount) outside of the US.

This is in addition to many smaller banks and credit unions that have already started blocking transfers of any kind/amount out of the USA since and still after the preliminary US Shutdown - and new legislation - since Oct 1, ie:

www.callfcu.org...

Effective October 1, 2013 - Call FCU will no longer send outgoing international Wire Transfers.


thecommonsenseshow.com...


JP Morgan Chase has announced that they are stopping international wire transfers from private accounts and are limiting account holders to less than $50,000 cash withdrawals. In the past couple of days, HSBC (America) has announced the same basic policies.


Yes folks, no exaggeration or fearmongering needed. Doesn't matter what the source, fact is fact.

Call Chase, HSBC, or any FCU (federal credit union) and they will confirm it (or lie). Bank of America, and then all banks & credit unions nationwide are to follow suit within 30 days. Yes, this is a money issue of course there is a total media blackout on it; for banks and FDIC would rather you not know about it until the withdrawal limit nears zero!

This is indeed the start of US Lockdown: first the banks, then the people!



+7 more 
posted on Oct, 23 2013 @ 01:12 PM
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Why do I get the feeling we're headed to the Barber's Shop for a little haircut? I believe they call it the Cyprus style?

I never cared for it, myself. I like my hair (and bank account) just like it is. Even if I have far more of the former than I have anything to put in the latter at the moment. Principle of the thing, eh?

I think I hear the 'shwing shwing' of the barber sharpening his tools somewhere as we speak.



posted on Oct, 23 2013 @ 01:22 PM
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I've never really understood the 'safety' issue of having money in the bank. They'll even charge you a fee if you don't have 'enough' in your account, which tells you their basic mentality right there.

If you can't hide it in your home or buried in your backyard someplace safely, you live in the wrong neighborhood. Take your funds out of the bank, ANY BANK, and keep enough cash on hand for several weeks' worth of gas and food, use pre-funded debit cards for bill paying or shopping on line, and buy some precious metals or other items that have held value over the ages.

Obviously something new and threatening is going on with these new rules, and Chase, having just paid a humongous fine for criminal behavior, looks like it's going to crash anytime soon.



posted on Oct, 23 2013 @ 01:22 PM
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reply to post by gardener
 


This is bad. I believe it to be in direct relation to the following story. Looks like it may be too late for the US people and companies (unless they have special accounts.)

The International Monetary Fund Lays The Groundwork For Global Wealth Confiscation



posted on Oct, 23 2013 @ 01:24 PM
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reply to post by gardener
 

General Fees
Effective October 1, 2013
Credit Union Official Check One free per day with $2,000 aggregate balance or aggregate average
balance in previous 30 days. Otherwise $7.00
Official Check Reissued /Stop Payment $25.00
Non-Member Check Cashing (in-branch) $10.00
Outgoing Wire Transfer (within USA) $20.00
Person to Person (P2P) Online Transfer $1.00
ACH Stop Payment /Revoke $25.00
Travelers Cheques 1% of Dollar Value
Travelers Cheques for 2 1.5% of Dollar Value
Processing of Court Order/Levy $25.00
Manual Account Transfer $5.00. Waived if prior month-end deposit balance is greater than $300.
Account History/Inquiry Printout $3.00. Waived with $1,000 avg/mo balance.....

Called my Credit Union and asked them for the fee for an international wire and was told that they do not do international wire anymore. They didn't elaborate when I asked why not.

We are going on lock-down I'm afraid!



posted on Oct, 23 2013 @ 02:32 PM
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That doesnt bode well at all, now we know why obumber didn't mind )overly) the government shut down. good luck



posted on Oct, 23 2013 @ 03:23 PM
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Wrabbit2000
Why do I get the feeling we're headed to the Barber's Shop for a little haircut? I believe they call it the Cyprus style?

I never cared for it, myself. I like my hair (and bank account) just like it is. Even if I have far more of the former than I have anything to put in the latter at the moment. Principle of the thing, eh?

I think I hear the 'shwing shwing' of the barber sharpening his tools somewhere as we speak.


Well, they have to find it to get it right..



Hard goods, metals, Cash on hand... all im saying, in that order.



posted on Oct, 23 2013 @ 03:33 PM
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reply to post by FFS4000
 


Wouldn't stopping international wires be a good thing? It keeps our money here, and in my mind, I'm thinking it would stop people from stuffing their off-shore bank accts?

Maybe I just don't know what I'm talking about though... quite possible.

But indeed, this as a whole, does not look good. More and more we are being told what we can and cannot do.



posted on Oct, 23 2013 @ 03:51 PM
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reply to post by gardener
 


Very interesting , terrible for my husband though , he receives his pension which in put through the banks and they transfer it to Australia. He worked long and hard for that pension and sacrificed part of his wages to create it. Its his money not the Governments, how dare they steal it.



posted on Oct, 23 2013 @ 04:14 PM
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Pinkorchid
reply to post by gardener
 


Very interesting , terrible for my husband though , he receives his pension which in put through the banks and they transfer it to Australia


That problem can be got past fairly easily with a cirrus or maestro debit card though. He can still access his money from australia by simply doing cash withdraws via atms. Because of the international transaction fees, i would be doing it in lump sums if i were him.



posted on Oct, 23 2013 @ 05:18 PM
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reply to post by gardener
 


This is VERY VERY bad. The free flow of your money across asset/deposit choices is the fundamental basis of a free economy and the basis of the world economic system. What this means is you no longer have absolute control of YOUR money.

When they ultimately restrict access to your funds, anarchy will ensue. I am not sure where this is headed but it can't be good. there are a number of reasons for these moves. Here are 2 that seem likely to me.

1. The economy is closer to collapse than the government has let on and they will begin a revaluation of the dollar that will seriously diminish wealth held in accessible liquid assets. (confiscation) All other asset class values will vary wildly based on their functional utility.

2. Those that know a collapse is immanent will start moving assets to commodities more difficult to control, or off shore to protect them. This will further exacerbate the economic decline and suppress the money supply causing a more rapid decline in the dollar's value.

The fact that these policies have been put in place now should indicate to you that they are already seeing these effects in the banking system and moving to restrict them before a tidal wave hits the banks.

Finally, gold. hard assets and non perishable commodities are your best bet if you can convert your cash to obtain them at this point . Stay away from gold equities as they will be confiscated as well. Remember in this emerging scenario, if you can't hold it you don't own it.

The preppers may be on the right track!!!


edit on 23-10-2013 by bladerunner44 because: (no reason given)
edit on 23-10-2013 by bladerunner44 because: (no reason given)



posted on Oct, 23 2013 @ 06:35 PM
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gardener
This is worse than a run on the banks!


relax kid, no need to run to the bunker just yet. A simple Google search came up with this (totally legitimate) story: CLICK



Soon though, soon!



posted on Oct, 23 2013 @ 07:02 PM
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UPDATE:

I can hardly believe this myself! I just visited my One West Bank branch here in SoCal and I specifically asked the teller if there is any withdrawal limits yet. She said no. I asked her if there is any international wire stop. She claimed No again.

Then I presented her a check I had to deposit. She prepared it and then said y signature card was required! WTF! I explained the signature card was entered long ago. She asked the customer service manager and the guy just looks at me and said no, we dont have a signature card. I stated that I'm repeating again that I already signed a signature card a while back and it is in file, and named the account representative as well as the BRANCH manager that ohysically processed my signature card, face to face.. He still said no, sorry. NO SORRY?

Luckily I spotted the branch manager at the other side of the building and had the cashier discuss this with her. They claimed there was a "GLITCH" in the system that is preventing them from any deposits or withdrawals on the account. I indicated I would like to take a large deposit out of the bank. They said I would have to let them know in advance of a FEW DAYS for anything 2,000 or over.

So apparently a major bank branch isn't ready for a 2,000 withdrawal, and requires a few days notice!

I asked the branch manager if my account is good to go. She said no, she had to OVERRIDE the account in order to make a deposit or withdrawal.

While I was waiting for them to deposit my check, I noticed other people coming in, who had called in a deposit and picking it up. One of the guys was standing there waiting for a 2,000. It appeared they are giving everyone the same account error runaround at that point.

I will be stopping at Bank of America here in Cali tomorrow. It's already 5pm here and most banks have already closed for the day....



posted on Oct, 23 2013 @ 07:48 PM
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reply to post by gravitized
 

Can't get that link in the UK...only you guys in the States.


Rainbows
Jane



posted on Oct, 23 2013 @ 07:48 PM
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reply to post by gardener
 


Ohoh...that's not good...not good at all!
Rainbows
Jane



posted on Oct, 23 2013 @ 07:54 PM
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^ His link "NO JPM DOESNT LIMIT WITHDRAWALS..." requires a sign-up, at least to me here in Cali USA.

I have an online account with Chase since here they dont have branches(?) and I don't believe what they tell you online or over the phone. Only going in person, like I did at OWB will you see if you can really withdraw over 50,000 (or over 2,000, in the case of One West Bank).



posted on Oct, 23 2013 @ 08:05 PM
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There was a thread earlier last week that was debunked regarding these paranoid rants by conspiracy theorists erroneously stating that JPM Chase was not permitting business owners to send international wires, and restricting access to cash. Both claims are patently false.

Let me explain.

All Chase did was require Business Owners that do want to send International Wires to upgrade their Business Checking Account to a Premium Business Checking Account and get charged a fee for wires sent internationally. That's it, in a nutshell. Yes, if you are a Business Owner, you can still send international wires, but you'll actually have to pay for it. Gee, what a concept.

The second claim was in reference to cash deposits and withdrawals. Chase restricted small businesses from withdrawing or depositing any more than $50,000 in cash in any 30 day period. Why? Because cash-intensive businesses are notoriously associated with criminal activity. Only a tiny percentage of small businesses are ever going to withdraw or deposit this much cash in any given month, aside from gas stations, convenience stores, and some grocery stores. What do they have in common? Cash intensive businesses (i.e., money laundering), and Check cashing services --- a high risk for the bank because check cashing and Western Union are notorious fronts for sending international funds overseas to less than savory individuals.

Basically, Chase was making a legitimate business decision to minimize reputation risk, boost capital by requiring minimum balance requirements, and limiting risk by pushing out high risk, cash-intensive businesses.

You can read the thread here: www.abovetopsecret.com.....or in the Search engine look for the thread called "Outgoing International Wires discontinued."

Forbes debunked this nonsense about a week ago. Please stop the insanity and fear-mongering.



posted on Oct, 23 2013 @ 08:26 PM
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Some of this may be because of some recent announcements from the Federal Reserve concerning the Basel III rules.

The U.S. Federal Reserve is 'regulated' by the Basel Committee in Switzerland.

There could be some intermittent stress testing happening.

Basel Committee on Banking Supervision


Bank for International Settlements.......

The B.I.S. has a central committee named the “Basel Committee”.

The U.S. Federal Reserve (as well as other country’s central banks) subscribe to the Basel Committee’s *recommendations*, and are (and have been) implementing those policies into the banking and corporate systems.

Study these links below and note they are not articles of opinion.
Many new rules have been *Quietly* implemented recently.


The MSM rarely discusses these things.


The U.S. Federal Reserve has been puppeted.

Basel Regulatory Capital Framework



Basel III Implementation by U.S. Federal Reserve


The FED is under *Direct* foreign banking influences of the Basel Committee on Banking Supervision


B.I.S. Basel



posted on Oct, 23 2013 @ 08:30 PM
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CookieMonster09

The second claim was in reference to cash deposits and withdrawals. Chase restricted small businesses from withdrawing or depositing any more than $50,000 in cash in any 30 day period. Why? Because cash-intensive businesses are notoriously associated with criminal activity. Only a tiny percentage of small businesses are ever going to withdraw or deposit this much cash in any given month, aside from gas stations, convenience stores, and some grocery stores. What do they have in common? Cash intensive businesses (i.e., money laundering), and Check cashing services --- a high risk for the bank because check cashing and Western Union are notorious fronts for sending international funds overseas to less than savory individuals.


CookieMonster, this is not pointed at you but... O....M....G!

I Cash my cheque and pay cash for most things. I like to KNOW I have money...



posted on Oct, 23 2013 @ 08:34 PM
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Like I said, banks do not want the general public to know about these policies. One must go to their bank or federal credit union and request a large amount in cash. Regardless of what type of deposit account you have, they will most likely beat around the bush.

The first time I had a problem (days ago) I was told they weren't prepared for that kind of withdrawal (5,000 from BOA). The second time (earlier today, at One West Bank) I was told a 'glitch' with my account prevented deposits and even a small deposit, and I would have to call a few days in advance before I withdraw anymore than $2000. (But apparently there was a problem with them coming up with $200 for another customer).

Of course, Chase is in damage control and has even issued letters clarifying that it is their business accounts they have started limiting. Sure.. gotta start somewhere!





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