Meirl
Wednesday, 12 Mar 2025
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They can ask, and you can say whatever you want. “I’m buying a hot air balloon.” Tell me the last time a bank didn’t give you your money.
I mean.. isn’t this one of the methods to prevent old people from giving their life savings to scammers
Yeah. Totally me irl. I exactly remember the last time I tried to withdraw 20k.
I’m sure that there’s no possible way that letting people withdraw large sums of money for undisclosed reasons could possibly backfire. Especially not old people that are easily fooled. No, sir.
If it really bothers you that much, just lie lmao.
Nah, it’s part of their anti-scam due diligence. It’s no grand conspiracy.
Most banks order cash for what they expect the week to be like, there are people who bank daily and the time of the month matters a lot too, especially smaller banks don’t factor people coming in to withdraw 20K out of nowhere. If you ask your bank before hand they will accommodate but they probably don’t have enough cash on hand due to cash ordering restrictions and limits. Also they will ask a reason for your protection. People get scammed a lot. Young and old.
Customer: I don’t need to explain myself to withdraw my money.
Bank: Yes, you do.
Customer: Where does it say that?
Bank: In the contract you signed when you opened this account.
Customer: You really expect that I read the whole thing?
Bank: You should have. But no, I didn’t expect that you did. That’s why I’m telling you now.
Giving a bank a heads up on a large withdrawal is reasonable.
I’m gonna be honest I don’t think this is the thing to get mad over. The reason they do this is
1. To be another barrier to make sure your account isn’t compromised and it’s not someone stealing all of your money
2. To avoid a bank run, which, when allowed to happen, causes an economic collapse (the Great Depression was caused by a bank run)
Is a motherfucker gonna have to call JGWentworth!?
None of the dumb assholes on this sub are withdrawing 20k lolol
Why is this in this sub?
I mean… This is literally to prevent scams and money laundering.
I mean as a bank teller (albeit at a small credit union), a big reason we can’t just do that is because we don’t have enough money on site to just give someone $20k and then sustain business as usual for the rest of the day. Also, we are legally required to report all cash transactions over $10k. So I suggest getting a cashier’s check. Way fewer questions that way. I honestly have never been told to ask “why are you withdrawing this?” But then again I’m not OOP and they’re likely speaking from experience, so idk
Man there are a lot of people that do not understand things like loss prevention, fraud, and how banks operate. Most are in the comments but one is also the person in the screenshot
Okay don’t come crying in a week that you got scammed out of £20,000, and complain “Why didn’t the bank protect my money and warn me!?”
There are laws and rules in place. They need to ask questions when above 10k.
They ask for good reason. This person just accidentally outed herself as a moron
This is a fraud protection measure. It is to make sure you aren’t taking out the money so you can mail it to Microsoft because they sent you too much in your refund.
Fine you got me. I’m buying 10,000 big macs
OP clueless
Probably money laundering regulations. Or fraud prevention. Something like that. 20,000 is a big amount of money and people usually use their bank cards for payments and bank transfers for, well, transfers. Withdrawing large sums looks suspicious.
Scams are real
This is how you prevent fraud and money laundering. Banks are required to do this.
This is just the bank making sure you aren’t being scammed so you don’t try and sue them
Banks are required by anti-money laundering laws to gather this information on large cash transactions.
I think you can do certain ammounts at once/in a single day before they need to ascertain that everything is above-board. Scams, extortion, illegal activities, ect. Pretty valid to protect both customer and bank. If you like to flash cash (dumb but you do you), just get accounts with more than one bank.
Isn’t the real reason to prevent bank panics? I’m not saying it’s morally right but it’s so the banks don’t run out of money.
Banks do not take deposits. When you “deposit” money in the bank you are loaning the bank money and your “account balance” is the amount of money the bank owes you for the loan.
Banks do not “lend” money, they are in the business of “purchasing securities” usually in the form of a promissory note.
I always tell them I’m buying more wheels.
As long as you can reasonably prove your not being pressured by someone else to take out this money they have zero reason to withhold it from you.
DAE think that the reporting threshold for cash w/drawls in the US is too low? I believe it should be raised as the law was written at a time when 10k USD had more buying power.
So much bad information in this thread
Allow me to give you the secret code. ” its a private family matter.”
Just tell them its for gambling. Thwy need it for stars only. And so you dont buy car ilegaly.
Withdraw $1 20k times in one sitting
Hey I work for a bank
Banks pretty much record everything for legal reasons, every transaction, every reason, every exchange could one day be evidence in a court of law for literally whatever reason and even if you don’t answer honestly it’s basically liability like “hey we asked and recorded exactly when they withdrew this money how much and why so if you need info from us that’s what we got”
This is such a reductionist way of thinking that keeps young people stupid, disengaged and poor.
You show them! Keep your money under your mattress! 🙄
If anyone is pulling 20k out my account, whether its me or someone pretending to be me, the bank damn well better check before they hand it over. Stupid post.
“I will use the money to invest in stocks on dildo companies”
– me if I ever have that much to withdraw 😂
Well, no cash withdrawals if your living paycheck to paycheck
So close to getting it, yet so far.
I’m gonna spend £300 on helium balloons plus a burlap sack, and invest the remaining £19,700 in the cloud.
Meanwhile my bank doesn’t care beyond making sure it was actually me who spent the money
“Hey, did you spend 200 dollars on *insert stupid thing here*’
“Yup, was me”
“Cool, enjoy that shit”
I’ve done some weird things with my bank and they don’t really question it. I once closed an account and because they wanted to charge me $8 for a bankers check, I just asked for the $36,000 in cash. When opening a new account I told them this and they just took it. I once had $500 prepared, in singles for a party. Any question s about a large cash withdrawal could be met with “I’m going road tripping to Vegas.”
So rage bait because 3 people?
Is this a foreign agent trying to rile up westerners???