Does anyone have any experience or insight with this?
One person I know has a client that had to pay them 20k and couldn’t get their money from their banks for weeks.
Another person was replacing his boat that broke down and couldn’t get his money out of the bank.
In my experience, if you have the money in your account you can get a cashier check same day
Large amounts are flagged and usually have a waiting period. It goes into national security issues. Doesn’t mean it is right but there is a reason it happens, though clearly the politicians don’t fall into “being flagged when a weird transaction is done” group.” Sounds like it shouldn’t pertain to the common folk either.
For larger amounts there are holds up to 10 days, I believe, to note where the money is coming from and going to. At the discretion of the bank.
No problem putting down 20% of mortgage last month. But Wells Fargo just eliminated HELOC and this may be a harbinger of systemic banking risk.
They do “need” and banking collapse to complete the “great reset”.
You still need to fill out forms for the 20% mortgage and the bank will help with that.
Anything over 10k cash being moved and the Feds have to be notified.
Wired directly to the Title company so it wasn’t an untraceable withdrawal, but no doubt the bank complied with surveillance.
Banks still have to fill out a form for electronic wires and they make a copy to send to feds if it is over 10k.
Just standard procedure.
I’ve had zero issues with regular or cashiers checks from my business account. Not huge amounts, but they add up to several thousand per week.
No issues at our credit union -
I've had no issues but I've not been moving tens of thousands around lately.
I withdrew $8000.00 a few months ago. I was told only $5000.00 at a time. I asked, when did that change, I was previously, months before, told anything over $10,000 I would have to call in advance. I said fine, I will take $4000. today, and come back tomorrow, no sweat. She then reversed her comment and said I could only get a limited number of $50 and $200 bills, the rest would need to be $20 or $10. I said, no problem. Then she asked me what I was using it for. Now I learn the government instructs banks to give you the 3rd degree. I will not keep anything in the bank again, only enough to pay pills. The banks give you shitty interest anyhow.
We send amounts overseas regularly for different reasons, all normal, ethical and legal, and the rules seem to have been changing almost monthly. Got arbitrarily banned from one service and never could get a reason, even after appeal.