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

MountainLaurel
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?

Safety deposit boxes can and have been frozen, confiscated, even in one story I heard the bank has burnt to the ground destroying the contents. Better to keep your cash in a fireproof box bolted to the floor, or in the floor if you have the money.

reply to post by darkbake


Thank you for such an in-depth reply. If you're ever in Southern Missouri, look me up. I'll buy you a beer or something and we can chat more. You really sound like it would be an enjoyable evening to have. (no sarcasm).

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 biggest difference is the most critical one. Even among those nations where the population really has no love for their leadership, and short of open civil unrest? You don't see Governments working directly against their own people quite like ours has come to do. I sure don't. I also don't see public in other nations so widely and openly condemning their own ..without doing more than turning bitter and toxic in private to stew and fester over it. We seem to have made that a national past time. It's killing us as a nation and culture..one day at a time..and as sure as Cancer.

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.

I agree but I wish I didn't. I won't get love for saying this, but the truth hurts and people can deal with how I present what I feel to be true. Americans are idiots and fools....as a people. American PEOPLE aren't. THE American 'people' are. So when/if that energy cuts loose? I don't expect to see Tahrir Square or the Velvet Revolutions following the 'Fall of the Wall' in 89/90. I expect to see a cross between Occupy and the Rodney King Riots. Mindless violence ..with some sense of purpose ..but nothing remotely close to effective for accomplishing a damn thing.

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.

This is probably the one spot we don't agree and it's really only in share of blame, not blame to be taken. Democrats and Republicans. Together forever and ever, amen. Or so it has been on this. Bush gave us the Patriot Act and the Dems applauded too. Quietly, if not publicly, but back then? Everyone was 'Rah Rah Kick Butt!'.

I think it's been 100% dead even down the center to both sides..with the apparent conflicts we see in the public being great theater to keep us pissed at each other, over "parties" we don't even know in a real sense anymore, and they laugh at the concept of it, where we THINK it matters.

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 -

It's possible to fix them. It's absolutely possible to fix this...and you'll have to forgive me here because I have so much happening in my life at the moment, in so many directions...I shudder to even joke about anything more. Still, this chaotic time will pass soon and I've had a plan in mind since 2012's election cycle in how I want to present and lay out just what can be done and precisely HOW it can be done. Within the system. Within the law.

Whatever my results on that though...I believe firmly, the greatest victory these men over us have ever had is instilling the belief into all of us that we are powerless, unable to bring change and the mere attempt is foolish and idiotic. NOTHING could be further from the truth ..but the further we get, the more true it becomes.

reply to post by Wrabbit2000


Most people are not born stupid, but the constant lying of the media will lower anyones IQ after awhile. I think this should be a given imo. I stopped watching american msm about 8 years ago, unless its some major event covered live. For my normal news I head on over to the internet and seek alternative news. The whackier the better lol. Even rense is good. MSM of other countries ranges from slightly better to much better but even that I dont bother with.

As long as socialism is demonised, and neoliberals pretend to care for the masses, we will keep seeing more and more outcries of facism and/or socialism. People dont know the true definitions of anything and they dont care to learn either. I guess there is so much misinformation/disinformation spread that its too much of a hassle. Only someone that has lived in a socialist or communist country can tell you the details.

I get america is a capitalist country with lots of ethnic diversity, and that is why things can become explosive eventually. There is no bonding factor of race and/or religion. People might or will eventually turn on each other when the economy crashes or when some other disaster happens.

So for whatever it's worth, the person in front of me at Chase this morning pulled $9600 with no issues and I pulled $2500. It took all of a minute. Larger amounts, like $50,000- probably different, but bank and the world as we know it deal in credits/digital money. I don't know how much paper money there is a call for. I'm not saying nothing will ever happen (I.e. a Greece type situation) but not just yet.

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.

Uh, no.

Chase business clients can still send international wires via a Business Checking Account, provided they upgrade the Account to a Business Checking Account platform that will charge fees for these wires, and have a higher minimum deposit balance requirement to offset a monthly maintenance fee.

No more freebies.

Chase is being forced to do so because of stiff Basel III capital reserve requirements, and it is deliberately rewarding clients that keep more money on deposit while weeding out those clients that are freeloaders. The era of "free" banking services is over due to Dodd-Frank and Basel III. Don't blame the banks, blame the regulators.

This story has been refuted by Forbes, and several other news sources. Please stop spreading false rumors and making slanderous statements.

The $50,000 cash withdrawal limit for Business Accounts has to do with prevention of money laundering. Few small businesses need to withdraw this kind of cash in any given month. Only a select minority of businesses - such as gas stations and liquor stores - operate with this kind of cash volume.

Most business today is done electronically, and not in cash.