Chase Bank limits withdrawls, Bans international wires - page 3.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Quote from: justusranvier on October 16, 2013, 09:04:13 PM

Here's the same thing happening at a small, state-licenced bank:

https://online.1stnb.com/LoginAdv.aspx

Quote

Foreign Wire Transfers: Due to recent regulatory changes, effective 10/1/13, FNBT/FCB will no longer offer foreign wire transfer services through Internet Banking or in banking centers.

If you need to send funds to a recipient in a foreign country, you can go to www.westernunion.com to send a transfer using your Debit MasterCard® or visit your local banking center to send a Western Union in person.

The key here is "Due to recent regulatory changes." This isn't a Chase issue. I bet that we're going to hear more of this happening in the next few days/weeks. Before long, it's not going to be possible for the average person to wire dollars outside the country.

You can always use WU/moneygram, can you not?

EDIT: this doesn't explain the cash withdraw limit, though.

justusranvier

legendary

Activity: 1400

Merit: 1009

Here's the same thing happening at a small, state-licenced bank:

https://online.1stnb.com/LoginAdv.aspx

Quote

Foreign Wire Transfers: Due to recent regulatory changes, effective 10/1/13, FNBT/FCB will no longer offer foreign wire transfer services through Internet Banking or in banking centers.

If you need to send funds to a recipient in a foreign country, you can go to www.westernunion.com to send a transfer using your Debit MasterCard® or visit your local banking center to send a Western Union in person.

The key here is "Due to recent regulatory changes." This isn't a Chase issue. I bet that we're going to hear more of this happening in the next few days/weeks. Before long, it's not going to be possible for the average person to wire dollars outside the country.

n8rwJeTt8TrrLKPa55eU

hero member

Activity: 588

Merit: 500

Quote from: Singlebyte on October 16, 2013, 04:07:05 PM

1. Why limit amount of cash withdrawls?
2. Why no international transfers?

Simple. Chase has been acquired by MtGox, with the Japanese team now handling all money transfers across the combined entity Cheesy

Quote from: BurtW on October 16, 2013, 07:27:34 PM

This is just Chase doing some creative marketing. Trying to upsell customers to a more expensive account:

Quote

Actually they're just raising fees, not preventing those things
Submitted by doggydogworld on Wed, 10/16/2013 - 15:01. Permalink
Go to chase's web site and look at the business checking options. They aren't stopping businesses from sending international wires, or restricting cash activity to $50k. They're just forcing businesses who do those things to upgrade to the more expensive kind of business checking account.

So yes, Chase sucks. But this thread is mostly FUD.

Yep. Other banks (e.g. Citibank) do similar random things, like arbitrarily restrict the amount you can wire out according to your account type. For basic accounts they force you to go into a branch in person if you want to go above a certain thresholds, whereas gold accounts have no such limits.

BurtW

legendary

Activity: 2646

Merit: 1137

All paid signature campaigns should be banned.

This is just Chase doing some creative marketing. Trying to upsell customers to a more expensive account:

Quote

Actually they're just raising fees, not preventing those things
Submitted by doggydogworld on Wed, 10/16/2013 - 15:01. Permalink
Go to chase's web site and look at the business checking options. They aren't stopping businesses from sending international wires, or restricting cash activity to $50k. They're just forcing businesses who do those things to upgrade to the more expensive kind of business checking account.

So yes, Chase sucks. But this thread is mostly FUD.

justusranvier

legendary

Activity: 1400

Merit: 1009

Quote from: theonewhowaskazu on October 16, 2013, 06:53:14 PM

I can't believe this is even legal, let alone something a solvent bank would consider doing.

I saw something similar happen at a local, state-licensed bank:

Quote

Foreign Wire Transfers: Due to recent regulatory changes, effective 10/1/13, XXXXXXX will no longer offer foreign wire transfer services through Internet Banking or in banking centers.

If you need to send funds to a recipient in a foreign country, you can go to www.westernunion.com to send a transfer using your Debit MasterCard® or visit your local banking center to send a Western Union in person.

If you want to know what happens next, study the recent history of Argentina.

theonewhowaskazu

sr. member

Activity: 448

Merit: 250

Does chase supply any type of account with international bank wires enabled, or are they blocked for every type of account now period?

if so, thats pretty bad. I guess you can still do a direct deposit into another account at another bank though, if I was a chase customer I'd do that like ASAP. I can't believe this is even legal, let alone something a solvent bank would consider doing.

Carlton Banks

legendary

Activity: 3430

Merit: 3074

Quote from: countryfree on October 16, 2013, 05:56:41 PM

What I don't understand is the complete ban of all international wire transfers. that's crazy. Could there be something wrong with Chase? They've got to have plenty of customers doing business abroad, and they'll have no other choice but to change bank.

Will they have the choice to change bank much longer? Chase don't just sound like they're trying to protect the robbery of branches, it sounds as if they're worried about the rate that legitimate money is flowing out of the bank. With Info Wars as a definitive corroboration though... not entirely sure. Major FUD merchants, true and false.

countryfree

legendary

Activity: 3052

Merit: 1047

Your country may be your worst enemy

Limits on cash withdrawals are everywhere. Most bankers are not comfortable having large quantity of cash readily available in their drawers. It just increases the risk of crime. In every bank I know if you want to withdraw a large quantity of cash, you have to call in advance to make sure there will be cash when you want it. Most often, they also have limits. Like with a credit card, you can't withdraw over a given amount per week. With the fight against tax evasion and money laundering always intensifying, we may expect the current situation to get worse.

What I don't understand is the complete ban of all international wire transfers. that's crazy. Could there be something wrong with Chase? They've got to have plenty of customers doing business abroad, and they'll have no other choice but to change bank.

erk

hero member

Activity: 826

Merit: 500

Government shutdown is almost over. The fake crisis has been 11th hour averted as we all knew it would be. See you again on Feb 17th for the next manufactured installment.

RodeoX

legendary

Activity: 3066

Merit: 1147

The revolution will be monetized!

Exposure mitigation due to government shutdown.

Singlebyte

hero member

Activity: 854

Merit: 1000

We have seen some members complaining about this, but here is the proof.

http://www.infowars.com/chase-bank-limits-cash-withdrawals-bans-international-wire-transfers/

Question

1. Why limit amount of cash withdrawls?
2. Why no international transfers?

Let the speculations begin.......

Topic: Chase Bank limits withdrawls, Bans international wires - page 3. (Read 7581 times)