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

benrl

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.

Sure, but what happens when this cash is no longer of any use?
The cashless society is coming or is already here phasing in.

Cash is good for some stuff but in general it's not.
For one, you can't buy gas or other things at night with cash. At least not where I live, due to crime. No cash kept on premises.

Is this just the USA or other countries like Canada ?

reply to post by darkbake

How long have you been a mod, Wrabbit?

It's a recent development, with a several other great people here who were asked to volunteer at the same time. Don't worry though, the First Commandment of ATS Moderation goes to me as much as anyone. Thou Shalt Never Mod a Thread Thou Hast Posted In.

I agree entirely about the state of affairs in a general way. They do seem to be slowly but surely working on through every segment of society to get everyone good and pissed at everyone else. They aren't, if you notice, doing enough to cripple any group. Just enough to hurt each in their own ways, badly, and leave a general atmosphere of suppressed rage and impotent anger at nothing in particular or specific. The worst and most dangerous state a nation can exist in...for as long as it remains like that, anyway.

We hoped for change...and we got it. For our sins..we got every bit of change we ever could have wanted.

reply to post by gardener


I keep telling people, get your money out while you can. Whatever you don't need, or that's just savings that you don't tough, go buy some precious metals with that and take physical possession of those metals and put them somewhere safe (no not a safe deposit box). Somewhere where you can get to them if you need to. Do that now before it's too late. The first rules of wealth are how to build it, the last are how to protect it. It's sad how most people neglect the last rules. Then they get whiped out. You've been warned. The writing is on the walls. What the heck are you waiting for?

Precious metals?, stocks?. More like load up your camping gear, fill up the tank, drive south to warmer climes armed with dog repellent and a wad of cash with a trusted friend as backup and canine alarm systems in the back seat.

Oh, I do that every year when it gets cold just cuz. Banks have little or anything to do with it.

If you want change, stop participating in the system that chafes yer butt cuz it's so unfair and steals more of your wealth year after year.

Quit feeding it, maybe that's the reason for the new rules anyway since so many are not able to participate these days......

Yep because at www.thedailyheadlinenews.com... there are letters from chase to their customers published that say you can still "receive" international wire transfers, but you cannot "send" wires Domestic OR Internationally via a saving account. that's what the actual letters say from Chase. On the Checking account side, chase says they will not allow international wiring via their bank at all.

www.thedailyheadlinenews.com...

reply to post by signalfire
The part about buying precious metals such as gold and silver as a back up in case our currency becoming worthless intrigues me. Can one buy gold or silver that come in varying degrees of weight? Like penny, nickel, and quarter sizes to determine worth? If the world comes down to that, I would want to pay a fair price with different valued coins rather than be stuck with only one ounce bars.

It makes sense in a way. Some people know the economy is about to crash, probably sometime next year, and they want to keep as much money in the states as they can. It has nothing to do with cyprus or haircuts lol.

Not that I dont already know the whole economy is a rigged freak show with private central banking like the federal reserve plundering the wealth of average americans, but as long as the private and for profit federal reserve is calling the shots, then more of this is what is to be expected.

$50k is a reasonably high number, it could have been only $10k withdrawals allowed. I think they want to prevent the rich from sending their money to some tax haven nation that would be untaxed and gone forever.

CookieMonster09

Some of this may be because of some recent announcements from the Federal Reserve concerning the Basel III rules.

Yes, you are dead on correct.

If you look at what Chase and other large banks are doing with their deposit accounts, they are requiring minimum balances for their clients on all deposit accounts. The goal is to garner as much capital reserves as they can to meet the rather stiff Basel III capital requirements. So stiff that small and regional banks are lobbying and raising a holy uproar to have these capital reserves lessened.

Bottom line - We will have a global bank, a global currency, a world religion, and a global army all in due time. The old "systems" - and that includes are outdated banking system - needs to collapse before the "new" architecture can be implemented.

The big banks will eventually merge into a super bank - Merge BOA, Chase, Wells, and CITI, and you are pretty much there already in the U.S. Basically, you'll be left with a single banking institution - either nationalized and run by the government, or in private, centralized hands.

Centralization will continue to occur in every sphere.

A private centralised bank monopoly is exactly what the federal reserve is. All the big commercial banks already have shares in the federal reserve. If you trace down who owns shares of which bank it would be interesting to see whom the usurous conspirators are.

I would have no problem with a soviet style bank, people borrowing from the government, but any smart person knows we dont have socialism in the usa. We have liberalism at its worst!

reply to post by gardener


I bank with Chase. I just called them and inquired. There are no limits to withdraws in any branch, anywhere.

Sure, but what happens when this cash is no longer of any use? The cashless society is coming or is already here phasing in. Cash is good for some stuff but in general it's not. For one, you can't buy gas or other things at night with cash. At least not where I live, due to crime. No cash kept on premises. Is this just the USA or other countries like Canada ?

reply to post by violet

Its not a problem for us in Canada, If you really need gas late at night just hit a truck stop on a major highway.
No security problems because you would be nuts to try anything with 50/80 regular customers trying to enjoy a meal and a shower.

If the poop hits the fan you will be forced to reschedule your life and make sure you get your groceries and other essentials such as gas when it is daylight.

A cashless society only benefits the banks and their profits as they hold the keys, What I am trying to say is take all your money out of the bank right now except for the bare minimum.

What have you got to lose?.....certainly not any interest earned and if things get better then if you want, put it back into your account. We never did put it back because it earns nothing there and could be gone in a second.

Last March we asked our bank how much interest we were making on the 15K they fought us over as we took our money out of their bank, the answer is Zero/Zip/Nada!

If you think your credit/debit card will be good in the future you better check out the stories from Cyprus Last spring.

People who saw it coming and grabbed their cash out before they locked the doors lived like Kings and Queens.
The People that did not found out very quickly how fast cash was king and a piece of plastic was complete garbage.

Regards, Iwinder

EarthCitizen07
It makes sense in a way. Some people know the economy is about to crash, probably sometime next year, and they want to keep as much money in the states as they can. It has nothing to do with cyprus or haircuts lol.

Not that I dont already know the whole economy is a rigged freak show with private central banking like the federal reserve plundering the wealth of average americans, but as long as the private and for profit federal reserve is calling the shots, then more of this is what is to be expected.

$50k is a reasonably high number, it could have been only $10k withdrawals allowed. I think they want to prevent the rich from sending their money to some tax haven nation that would be untaxed and gone forever.

I expect to see that $50K number to drop in $10K increments as the rich folks must be alarmed right now and then down it goes to your blue collar worker and so forth.

I also think it will happen fast, I mean how many folks there in the USA have a couple of million in the bank? Lots I would guess and Lots are doing a big panic right at this moment.

If this pertained to us here in Canada and the numbers hit $5K then we too would panic and I would most certainly camp out at the bank until I cleaned out our accounts all the way.

Regards, Iwinder

TheMistro81
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.

You don't need to use international wires - you can do currency transfers through online electronic transactions. I did that using xe.com - I was living outside the USA and needed to get my bank account cash over to Europe. Every time I called the bank, they said, "Oh, you'll have to go to your local branch to authorize the transfer. No, you can't go to a branch in the UK". My ATM cards didn't have chip and pin, so I couldn't use them here. I did manage to use them once or twice, but the next time I tried, the machines refused to handle them. So it was online banking for me.

I personally believe this is misunderstood, either way not a bad idea to keep some cash at home. I am going to my Chase tomorrow and pulling $2500 (without an appointment!) to keep in my safe at home. I expect this to go without a hiccup....we will see. Maybe I'll secretly film, just in case!

I could find nothing on HSBC limiting international transfers. Link please?

cdevidal
I could find nothing on HSBC limiting international transfers. Link please?

Nevermind, found it:
www.economicpolicyjournal.com...

The story checks out:
www.thaivisa.com...

Though both the Chase and HSBC limitations are very soft when you look into the details. Could be signs of more trouble, could be just another day at the office. I’ll keep my eye on this. Nice find!

Proof that the Chase limits are very soft. You can still do international transfers, you've just gotta pay a bit more per month. Again, this could be a precursor to collapse -- or just life in 2013.

www.forbes.com...

reply to post by Wrabbit2000


Yeah, the state of affairs in the U.S. is bad from what I can tell - no matter what the experts are saying about it. If you look at some countries in the Middle East, they are seeming positively coherent compared to the current state of affairs in the U.S., that's my opinion.

I think the situation in the U.S. is extremely bad, but the problem is, it is all potential energy that hasn't been realized - when the energy is released, it is going to shock the "experts" who haven't been paying attention.

In the past decades, we had these bubbles burst in the U.S. based on over-inflated assets and such. So what happens in that situation is, people lose some of their money, not really a big deal.

The bubbles that I think we have coming are going to be an entirely different, toxic bubble, they are going to be based on issues that have not been dealt with, and everything about them is going to be positively acidic compared to simply losing money. When one of these bubbles pops, it is going to release acid that is going to burn the very metal casing of our existence.

Losing money and not being able to buy a boat or whatever is going to look like a cake walk.

How are we going to deal with conflicting realities in this country that result in possible totalitarian enforcement in conjunction with unpredictable and fluctuating laws? That is the main issue, I think.

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Let's take the example of free speech. One side (the Democrats, actually) decided that certain speech was not free anymore. That did *not* cause people to change their minds, I don't see how it possibly could, instead it caused people to take their concerns underground and away from the mainstream - this is much worse.

So then, of course, since the Democrats set the precedent of not allowing free speech, I'm sure that conservatives will follow suit in one form or another, and then we will end up in a country where we will be afraid to express our opinions for fear of being arrested by who knows who - as you can see, there are forms of this argument that were around before.

The difference is, before, it was "don't restrict free speech or this will happen" and now that the free speech has been restricted, it is more like "this *is* happening because of such and such" - hopefully I am wrong, but I can tell you right now, my personal experiences show this to be more prevalent than 5-10 years ago.

Because honestly, with splintering factions, anything we say could cause someone to want to arrest us. It is the same with lawsuits, it is the same with anything, pretty soon, if not already, it won't even be possible to exist without someone knocking at your door for not following the rules - especially if the rules are fluctuating, incoherent or contradictory - it may not be possible to follow them.

I don't see any alternatives to this, it is a very bad situation. I keep on looking at these charts that have the United States listed as a bright green color for things like safety, civil rights, that kind of thing, and I honestly expect the U.S. to immediately go dark orange within the next few years.

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It may be possible to fix some of these issues, but that is wishful thinking, in my opinion, in fact, I think even with the most positive attitude we will find our country headed towards societal collapse, this is all opinion based on my wide array of experiences, so I don't have anything else to back it up at the moment, sorry -

II'll try and pull myself together and start citing sources again and such, but even that started not working after I found most sources (even MSM) to be misinformative or biased, or completely falsified. I have cited sources on here before that turned out to be simply made up, I even was going on some mainstream news sources to figure out stuff with Obama and Obama Care or something similar, and someone on Facebook notified me that it was a known disinformation campaign.

Something that occurred to me while reading through this thread is an interview I saw with a cop who had confiscated a large sum of money and "claimed" he suspected the money was "suspicious" and possibly gained illegally and/or "drug money" . It turns out the person who's money it was had to go through a nightmare to clear himself and get back his money.

When the cop was asked "Why" he had written in his report that the money was likely connected to drugs, when there was no evidence to support the claim, his response was very disturbing, he basically said...." NORMAL people keep their money in a bank".....so if you keep your money in a bank you are potentially vulnerable to losing that money and/or limited on your access to your money...or if you keep it on your person, in a car , your home, etc. it can be potentially confiscated because it's "suspicious" ???

I don't have enough savings that this would personally effect my life...lol...they got my nest egg when I lost my house, after putting down a $105,000 , that was sold for $250,000... a deal not offered to me and by law my family members either....long story....but from what I have learned, buy and pay for everything possible cash, don't finance anything, even if the dollar were to collapse you would have assets that you owned free and clear. TPTB may still try and "steal" it, but at least you could prove your "true" ownership.

reply to post by gardener

In 2006 I went to my local community bank were we have several deposits

ranging from $2 to $100,000 and asked to withdraw $5,000 in cash.

I was told let us check - that is a large amount - we may not have it on hand.

I recall coming back a few days later when they had it.

Common knowledge is that bank branches do NOT carry large amounts of cash

and it is shocking to learn it. They deal primarily in electronic transfers. Most

of the assets are in the private lock boxes in the safe room, and that's not theirs

to distribute.

reply to post by drphilxr


You make an interesting point I never thought about, if rather then keeping your cash in an actual account, but rather in a safety deposit box, would you have access to that box even if the bank collapsed?