Chase Bank limits withdrawls and won't allow overseas transfers effective Nov 17

Discussion in 'Preparedness & Survival' started by ATCclears, Oct 16, 2013.

  1. U201491

    U201491 Well-Known Member

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  2. ATCclears

    ATCclears
    Seattle area, WA
    Well-Known Member

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  3. Mark W.

    Mark W.
    Silverton, OR
    Bronze Supporter Bronze Supporter

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    So sounds tyo me like they are trying to limit people from sending cash out of the country. Like the millions and millions of dollars being sent every month to Mexico from the USA never to return.
     
  4. ATCclears

    ATCclears
    Seattle area, WA
    Well-Known Member

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    Just like Cyprus...
     
  5. cookie

    cookie
    Idaho.
    Well-Known Member

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    All this going on is scaring the you know what out of me.
     
  6. kenjo

    kenjo
    Washougal
    Active Member

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    If you make more than 6 withdrawals from your savings account in one month, Chase charges $5/withdrawal.

    According to Chase:

    "For your reference, there is a $5 Savings Withdrawal Limit
    Fee for every withdrawal or transfer out of your savings
    account over the limit of six within a monthly statement
    period.

    Federal Regulations limit the number of checks,
    preauthorized transfers and withdrawals that can be made
    from any savings or money market savings account. The
    regulation also requires us to make sure that these
    transactions do not go over the permitted limits.

    This fee can be waived if you have a balance of at least
    $15,000 in your savings account at the time you make a withdrawal."

    So Chase is blaming it on the federal government.
     
  7. oknow

    oknow
    amboy wa.
    Well-Known Member

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    Just close the account and go somewhere else
     
    orygun, bcdon, 2ndtimer and 3 others like this.
  8. erudne

    erudne
    The Pie Matrix
    PPL Say Sleeping W/Your Rifle Is A bad Thing?

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    I believe that this is the start of a Cyprus Haircut to take place over Thanksgiving Holidays, I suggest removing the majority of your funds from all accounts (as cash, not checks)
     
    GOG and (deleted member) like this.
  9. ATCclears

    ATCclears
    Seattle area, WA
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    GOG and (deleted member) like this.
  10. EZLivin

    EZLivin
    SW of PDX
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    Once you deposit funds in an account they are no longer your funds. You become an unsecured creditor to the bank. The bank is obligated to give you, on your request, the amount of money you deposited if they are able to do so.
     
  11. EZLivin

    EZLivin
    SW of PDX
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    Yup - capital controls. And only the beginning; tougher capital controls will be instituted as the situation in the US worsens (2015+).
     
  12. AMProducts

    AMProducts
    Maple Valley, WA
    Jerk, Ammo Manufacturer

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    The feds have done some really dumb stuff in the name of "fighting terrorism" one of the things included in that are new banking rules that most of us are completely unaware of but will get hit with when we "violate" the rules. I had this headache a while ago when I had a customer who wanted a refund to the tune of $9000. Which between about 3k in the bank and another 6k in cash on hand I was able to pay back, the bank flipped out when I showed up with that much cash.

    I usually try to keep cash on hand, and in the bank, it means if I find a great deal on a piece of equipment I can pay for it without the headache of dealing with the bank, at the same time keeping cash in the bank increases my credit rating, and makes it easier to pay suppliers. I just make sure I keep all the accounts straight and on the ledger in case someone ever shows up for an audit.
     

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