Show of HandsShow of Hands

Show Of Hands April 5th, 2016 12:40pm

Chase has capped daily ATM withdrawals at $1,000 per card for "non customers" in order to stop large cash transfers that could be a sign of money laundering or other types of shady activity. Good policy?

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ladyniner81 no hope for humanity
04/08/16 5:59 am

Can people read? It says the bank is putting a 1K cap on NON customers. So if you're a customer of that bank, you're not affected.

ladyniner81 no hope for humanity
04/08/16 6:00 am

And any way to stop money launderers, is fine with me

ParaguasPato Columbus GA
04/08/16 3:13 am

I'm not an expert on the repercussions of withdrawal limits, but anti-money-laundering sounds good to me.

pietsch Another Adoring Fan
04/07/16 8:18 pm

Wonder if that nasty, shady bank caps deposits...

njalstorm
04/06/16 7:44 pm

So I have MY money in a bank and I can't withdrawal as much as I want for whatever I want

obertar1 NY
04/06/16 3:58 pm

Good idea. Still sounds too high to me. Get travelers checks or write a check.

PocketNotebook Libertarians Unite
04/06/16 4:03 am

I don't like it, but I don't think the government should prevent it.

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jgf I have a few questions
04/05/16 11:23 pm

Chase also does not allow cash deposits into someone elses account. I tried to put money into my brother's account and had to use a money order or cashiers check for him to be able to get the money out right away.

badattitude no place like home
04/05/16 8:00 pm

They are just preparing for a run on the banks.

theNobamist Silicon Valley
04/05/16 6:59 pm

Wells Fargo caps you at $300. I guess Chase customers have more expensive "tastes" ;)

bnnt Los Angeles
04/05/16 4:23 pm

It's their ATM network, they can do whatever they want with it.

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4boot LaTrineodeur, MN
04/05/16 4:03 pm

If it's your money, why should cash withdrawals be limited...?

twss trump is a garbage human
04/05/16 7:17 pm

Chase implemented this change only for non-customers who use their ATM network.

TomLaney1 Jesus is Lord
04/05/16 3:06 pm

No. They are getting ready for a run on the banks, which is looming in the near future.

RoDe Latinus wordsus
04/05/16 2:49 pm

The same Chase bank that operates two big portfolios in Mossack Fonseca, right? They must be real concerned about financial transparency...

Tonyvee
04/05/16 1:58 pm

Venezuela stopped customers from taking more than $1,000/day during its financial collapse. Just Saying

Tonyvee
04/05/16 1:55 pm

Could it be a sign of Banks intertwined with Govt keeping Capital from flying out in a coming economic collapse. Many banks in Mexico are severely limiting large American Dollar Deposits. The world seems to be getting nervous with our Fiat currency. See Peter Schiff and his predictions.

corino Utah
04/05/16 1:38 pm

This is like my bank not letting me make more than 6 transfers out of savings #by federal law# #thanks a lot Bush# to prevent money laundering. Hooray for big government. How would we ever catch bad guys without assuming guilt before innocence.

DawnDanes New Jersey
04/05/16 11:43 am

Not for us. Tow companies sometimes require cash payments to tow a large bus/truck which can easily exceed 1000.00.

thrasher2 Arizona
04/05/16 11:36 am

As long as it's just at an ATM and not at a teller.

Zod Above Pugetropolis
04/05/16 11:13 am

Since when is Chase (or any other bank) involved in interfering with routine transactions on the slim chance that they might be "shady"? This seems more like an excuse to cut back on the frequency of servicing the machines without admitting they are cutting service to maximize profit. I can see them limiting withdrawals to avoid needing to file a CTR, but that is $10,000, not just walking around money.

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fredd TrumpLand
04/05/16 10:34 am

I'm surprised, ATM caps are standard and often lower than that anyway. $500 seems common.

At a guess, I'd say that Chase had either raised or removed the cap, so people were using their machines for very large withdrawals. There's probably a potential for criminal misuse there, so limiting that to their own customers seems logical.

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MrMilkdud
04/05/16 10:52 am

Are chase's customers less likely to be criminals?

fredd TrumpLand
04/05/16 10:56 am

No idea. But Chase's customers will be known to Chase. If they suspect there is some funny business going on, they can become ex-customers.

Henry123 Connecticut
04/05/16 9:41 am

Almost all banks have an atm limit this isn't new

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iceberg124
04/05/16 9:07 am

Criminals have a right to operate

Classi Collectivist Anarchism
04/05/16 8:57 am

Big banks are just as scary as big government. Just think of the Rothschild family

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Classi Collectivist Anarchism
04/05/16 8:56 am

No I don't approve. This could lead to a push for the use of electronic money, which can be monitored and controlled. Large cash transactions or money laundering needs to be not necessarily legal but possible. I'm strong believer in the non aggression pact, the state shouldn't enforce morality and neither should big business. People tend to forget that both these things not only government take our freedoms

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mikeyDe Marine Corps
04/05/16 8:48 am

Good, gooood. Let the war on cash flow through the banking system. You know what would really help the war on fraud? A cashless system where everything is electronic and thus documenting where every cent goes. Noooo thank you.

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FATSHADOW Cyborg Gorilla
04/05/16 8:27 am

Now I gotta find a better way to launder my cash.

Fucking Banks!!

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MrMilkdud
04/05/16 8:39 am

Tide is best for washing off the smell of stripper butt sweat.

CDUBS Dallas, Tx
04/05/16 7:12 am

If you can't live on $1000 a day your problem is not the bank, if you go in to the branch you can take out as much as you want. Who needs to hastily take out $5000 at 3AM? Y'all quit being crybabies.

mikeyDe Marine Corps
04/05/16 8:46 am

People in the bar/club or strip club

MrMilkdud
04/05/16 9:00 am

What business is it of the bank if you want to take any amount of money out at any time?
If they have the ability to dispense the money, then you should have a right to withdraw it.

flobotscott88
04/05/16 9:55 am

You will still be able to withdraw it you would just have to go inside instead of using the ATM machine.

MrMilkdud
04/05/16 9:57 am

During bank hours, assuming you're near a bank in the first place.
There are times when I've had to take out a larger amount of money while on vacation and haven't been able to find a branch of my own bank, and I use one of the larger banks in the country.

flobotscott88
04/05/16 9:58 am

Good point. I'm just use to the limit because my bank has a daily cap of $500 at the ATM.

mikeyDe Marine Corps
04/05/16 10:06 am

Posting bail doesn't usually occur during banking hours.

CDUBS Dallas, Tx
04/05/16 1:27 pm

Casinos will swipe your card for as much as you want and call it a purchase so no huge advance fees

MrMilkdud
04/05/16 2:02 pm

It's no business of the bank why anyone takes their money out. If I want to take $1000 out at 2am, shred it, and sprinkle it over ice cream the bank has no reason to stop me.

mikeyDe Marine Corps
04/05/16 4:00 pm

I do believe it's illegal to destroy US currency though but I'm not 100%. Not belittling your point I definitely am picking up what your putting down, just pointing out.

Gunfighter06 Iowa, since 1846
04/05/16 7:07 am

Whatever. I don't believe in big banks, so I don't care.

twss trump is a garbage human
04/05/16 7:22 pm

Your belief doesn't change the fact that big banks exist. Just FYI.

Spiritof76 USA 1776
04/05/16 6:53 am

Ok by me. They own their ATM's. They can do whatever they want. The launderers will just use another ATM.

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NKarta Please excuse my sanity
04/05/16 6:28 am

Only for non customers? Do chase customers not commit fraud?That seems more like a penalty for not banking with chase then a precaution against illegal activity.

twss trump is a garbage human
04/05/16 7:23 pm

Chase at least knows their own clients. That's the point of the new policy. They don't know non-clients, therefore, less privileges.

maxman
04/05/16 6:25 am

I respect Chase's right to create their own policy, but I don't agree with it. This is the kind of thing that is really going to ramp up as the War on Cash progresses.

BamaGirl ROLL TIDE from Arizona
04/05/16 6:10 am

I don't see why it would be bad, especially since it applies to "non-customers".

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shygal47 Florida east coast
04/05/16 6:10 am

I said Yes. I understand that there may be an emergent need for money, but if you aren't a customer of Chase why should Chase allow you to use Chase customers' money when the request is significant? They need to protect their customers.

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MrMilkdud
04/05/16 6:03 am

No. Banks telling people they can't take their own money out, for any reason, is a bad thing.

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BamaGirl ROLL TIDE from Arizona
04/05/16 6:12 am

I believe the policy only applies to those who don't bank with Chase, but are using their ATMs.

political Georgia
04/05/16 6:34 am

That's correct, Bama. Otherwise, I would hold a position similar to Milk.

MrMilkdud
04/05/16 8:21 am

I responded below, political.

Liberty 4,032,064
04/05/16 5:58 am

Seems odd, but whatever. As long as it only applies to "non-customers," it probably isn't that big of a burden.

gonzoboy Arizona
04/05/16 5:54 am

Whether I like this new policy or not, my answer is "Yes". Chase is doing what it's Board believes is in the company's best interests. If folks, or I, take issue with this decision, we are free to leave. But I don't think such a sound-minded policy will meet much resistance.

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Thatsmychin Oregon
04/05/16 6:02 am

Any time a restriction is placed on the public, we lose.

bluerum29 optimistic idealist
04/05/16 6:14 am

The question does ask whether YOU think it's a good policy. Not whether the board thinks it is or whether the board has the right. It's about our opinion on the policy.

gonzoboy Arizona
04/05/16 6:16 am

My opinion is somewhere up πŸ‘†πŸ½that-awayπŸ‘†πŸ½...

gonzoboy Arizona
04/05/16 6:36 am

chin, I won't disagree with you, which makes having a choice a nice benefit. If enough folks voice their opinion on this policy by mass exodus, or even an email campaign, or choose not to patronize, management may be prompted to reconsider, or suffer a hemorrhaging of their customer base. Folks believing as you do will find less restrictive areas to conduct their business.

bluerum29 optimistic idealist
04/05/16 6:56 am

I read the opinion part that you eventually got to. Was commenting in the first part of your post. Drives me nuts when people comment like that saying our opinion doesn't matter, it's their choice. The while point if the app is to discuss our opinions

gonzoboy Arizona
04/05/16 7:16 am

I understand what you mean, blue. I didn't mean to suggest that our opinions were of no matter. Speaking only for myself, I still believe companies have their own right to establish policy, whether to suit us, or in spite of us. In the end OUR opinions will be the driver as to whether this company prospers, or not. I didn't really mean to drive you nuts, and hopefully this'll be the last time!πŸ™‚

political Georgia
04/05/16 5:47 am

Very reasonable

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krohns Earth
04/05/16 6:51 am

All bad policies tend to start as "reasonable". Just wait until the customers are limited. Then the limits grow. Then in a few generations the money we earn will be managed by others and only supplied to you when necessary.

I really wish everyone understood the end goal of what's happening right now.


But as many like to act, this is just some crazy rambling so feel free to ignore while your freedom and power is transferred to the ruling class.

political Georgia
04/05/16 7:22 am

I don't think you understand the purpose of their policy.

Andrew13
04/05/16 7:24 am

Yes, a single company limiting how much you can withdrawal with their services if you don't choose to do business with them, when other options are available is destroying your freedoms. Get real man

MrMilkdud
04/05/16 8:11 am

I agree with krohns. There's a big push right now to limit the use of cash and make people to use electronic funds.
Limiting availability of cash, for any reason, is a nudge in that direction. Eventually it will become a push, and then it will become a shove.

And the reason doesn't matter. They're giving people what seems like a good reason on the surface, but if you think it through, their reason doesn't hold up in the long run.

political Georgia
04/05/16 8:25 am

So you oppose this because of what might come down the road? Is there anything wrong with this policy just by itself?

BamaGirl ROLL TIDE from Arizona
04/05/16 8:26 am

I believe they are NOT limiting the withdrawals of THEIR customers, but rather of the customers of other banks who use their machine. If it applied to their customers, then I would be in more agreement that it's a problem, but since that isn't the case, I think y'all are making a mountain out of a molehill. πŸ™‚

MrMilkdud
04/05/16 8:28 am

Political, yes, I oppose it because I think this will desensitize people to future restrictions, and because your bank should not have any right to restrict your access to your own funds. The only limit to how much you can withdraw from an ATM is the amount of money in the machine.

MrMilkdud
04/05/16 8:29 am

And the reasons they gave are nonsense. Why are they trying to control what people do with their cash? Would you believe a grocery store that claimed they were not selling people more than a dozen eggs per day because people who buy lots of eggs are probably going to egg houses?

MrMilkdud
04/05/16 8:32 am

At my bank I can take out up to $500 per machine per day. If I max out my daily limit, I get a letter a few days later telling me all the wonderful benefits of using my check card.

There are more benefits to them. They want everyone using electronic funds for a wide variety of reasons ranging from financial benefits, to data tracking, etc, and that's what this is about.

political Georgia
04/05/16 9:06 am

If you are a non-customer, you don't have any funds in the bank for the bank to restrict, do you?

MrMilkdud
04/05/16 9:15 am

The customer/non-customer issue just distracts from what's actually happening. They have transfer agreements with most other banks that provide all the necessary information to make sure the account is valid, so aside from making more money off of a withdrawal fee, it makes no difference to them.


More importantly, what does their rationale have to do with applying this policy to non-customers vs customers? Do you think people who aren't Chase Bank customers are so much more likely to be involved in money laundering or other illegal large cash activities that this policy should apply only to them? Do they run background checks on their own customers to make sure they only do business with people who don't have any ties to money launderers?

MrMilkdud
04/05/16 9:25 am

Look, I'm not suggesting that they're going to do this for a year and then all banks will declare overnight that they will no longer release cash to their customers. This isn't such an urgent thing that I would have made a poll about it demanding we all buy gold and burn the banks down, but it does follow a pattern and in the long run I think the pattern will resolve into a push toward a cashless society.