My bank and credit union dont let me withdraw over 15k, why?

dang007 (61)in #bank • 7 years ago

So i need some cash to buy some tools, i when to my bank to withdraw about 20k cash, this is usbank.com, they say no, they dont have it, and ask me what am i going to do with 20k? I ask them why are you asking me about my money? Their answer was because they are afraid that i will send it to terrorist. I know this is bs answer because they dont have that kind of money in there. I also when to my credit union , they say the same thing, and if i want to get that kind of money out i need to let them know a day or 2 in advance. Have any of you guy ever encounter this?

#money #crypto #steem #dollar

7 years ago in #bank by dang007 (61)

Sort:

vutran7 (43) 7 years ago

KYC?

$2.34

2 votes

[-]

dang007 (61) 7 years ago

huh?

$1.92

2 votes

[-]

timeshiftarts (55) 7 years ago

This is very common. Branch banks maintain a limited reserve of "Cash on Hand" for several reasons;

There is a limited amount of printed FIAT
Digital transfers have largely replaced paper transfers for high dollar amounts
If the bank is robbed, they don't want the thief to make off with more than the insured deposit amount.

If you can't wait 48 hours for a large cash out like that it is somewhat suspicious as most people do not impulsively spend 20k in cash.

$1.87

1 vote

[-]