Chase Bank Is Beginning To Limit Cash Withdrawals


Starting November 17th, individuals will not be able to withdraw more than $50,000 dollars cash in a given month or send international wire transfers. Here’s the contents of a letter sent to Chase customers:

Dear Business Customer,

Starting November 17, 2013:

- You will no longer be able to send international wire transfers. You will still be able to send domestic wires and receive both domestic and international wires. We’ll cancel any international wire transfers, including recurring ones, you scheduled to be sent after this date.

- Your cash activity limit for these accounts(s) will be $50,000 per statement cycle, per account. Cash activity is the combined total of cash deposits made at branches, night drops and ATMs and cash withdrawals made at branches (including purchases of money orders) and ATMs.

These changes will help us more effectively manage the risks involved with these types of transactions.

Is it time to start panicking or is Infowars just feeding the hysteria surrounding the possible financial crisis? Remember, this is Inforwars – which means we’re in Alex Jones territory.

Read more at infowars.com

32 comments
joe75
joe75

they also limit large quarter deposits

Beer
Beer

does that include the christmas saver account too..what about those shitty 25$ savings bonds my grandma used to get me...holy shit ...panic!!!!!!!!!!!!!!!!

loandinasor
loandinasor

My bank limits ATM cash withdrawals to only $300 per day from their own ATMs.  So if you want your own money, they won't give it to you unless you go into the branch.  Even though it's your money, not theirs.

ElectricDave
ElectricDave

Well this explains why Opie didn't pay Erock in full

edrooney
edrooney

Most banks pull this type of shit on businesses. They don't lend anyone so they're not making that type of rape money anymore. So now they analyze how else they can make you pay them and this is what they came up with. Banks assrape small and mid level businesses with sandy glue as lube. Have been since 2008. Everything they do Is designed to take from you like a pickpocketer in the park.

Badger1225
Badger1225

So you're charged a fee to use your own money, limit access to it, can't transfer it without incurring costs and the only way to avoid this is to upgrade which probably requires a hefter deposit.  I love America!!

FLpro
FLpro

Don't go "Chasing" large withdrawals...just stick to the ATMs and the Banks that you're used to....

sidwasout
sidwasout

Relax, people. They just want to charge more fees for some of these transactions, not ban them. Upgrade to the next level and the fees disappear. Don't like it, move to another bank. And it doesn't apply to private accounts, just business accounts. Alex Jones needs to go away.

Plastic Thoughts
Plastic Thoughts

$50,000 for deposits and withdrawals is absolutely not that much for quite a lot of small business. I realize this is meant to make it more difficult for illegal activity, but it also is forcing small business to deal less in cash which ultimately makes it easier for the IRS to track your revenue.

Roboto420
Roboto420

Time to invest in extra thick mattresses...

Pool Keepers Son
Pool Keepers Son

True fact, I got this letter myself, I feel American Express will also cut business credit lines

rexdart936
rexdart936

the bank of fez has been limiting comedy transactions for years. just another sign of tyranny.

HIMcDunnough
HIMcDunnough

Good thing this doesn't affect me one bit

drewodrew
drewodrew

It's addressed to "business customer." I wouldn't like any restrictions on my company's cash flow.

kevgret
kevgret

$50,000?  whew..  Now If they said $50 I'd be in trouble

nullzero00
nullzero00

if you have $50K to transfer a month, odds are you aren't keeping your money in an account earning 0.02% interest anyway. If you are, you are a dumb fuck.

sidwasout
sidwasout

Um, it's Alex Jones. This means nothing.

Baby Punisher
Baby Punisher

So Chase is going to tell people when & how much acesses to their own money that they are allowed to have? Fuck that noise.

sidwasout
sidwasout

I'm pretty sure they all limit the amount you can take out in a day.  They don't print the money in the machines, so there has to be some sort of safeguard against them running dry.

MikeZoltek
MikeZoltek

@edrooney I mean I really don't know a whole lot about this and am not on the banks side.  But since so many people took out loans and don't pay them back and the banks lose money they have to make money elsewhere.  What else are they supposed to do ? stop making money because people like you don't like what they're doing? and just give out stuff for free? just find another bank... and let them make money however they have to 

Goonerfan
Goonerfan

Bend over and pray for lube!?

edrooney
edrooney

@MikeZoltek @edrooney   My point is that banks are now designed to take money from you and make it seem impossible to switch banks.  I own a business.  My deposits are somewhere between 250k and 400k monthly.  There are hundreds of transactions per month.  I routinely write checks over 50k.  Chase is saying that you can do that but in order not to be charged per transaction, you have to pay a flat monthly fee of probably a couple of hundred dollars.  They will sell it saying that you will spend more in individual fees than being in the flat rate program.  Then they will require an astronomical daily average balance in order to not be charged an under balance fee.  I changed banks from a large regional bank to a smaller bank in early 2012.  Best thing I ever did but it was a royal pain.  One thing my previous bank did was clear daily transactions from lowest to highest and put holds on deposited checks over certain amounts.  What that would do is instead of putting a 150k deposit through first, it would put 25 lower amount transactions through before the deposit.  Eazy pass for $58, Fuel for $75, Home Depot for $25  etc..Then the deposit.  If my account happened to be low, I'd get charged 25 low balance transaction fees at $38 a pop and they couldn't give a fuck about it.  It was policy.  Fuck Webster Bank!!

sidwasout
sidwasout

Shit!  It won't let me delete the post.  It was all a typo, and I meant to write "everything," not "nothing."  Maybe the govt. mind control microwaves are defeating my defenses.  Gotta get thicker curtains and more foil.  Anyway, fight the power, Ron Paul in '16, and thanks for your service!

edrooney
edrooney

The good lube costs 51k!!!!!!!!!!!!!!!!!!!!!!!!! Ahhhhhhhhhh!!!!!!!

Rich the fireman
Rich the fireman

@edrooney @MikeZoltek Fuck Chase, they bounced a check on me I couldn't get them to make good on it. If the tables were turned they would automatically take a fee from my account. They blow and are nothing but a bunch of mobsters.