You are viewing a single comment's thread from:

RE: Ever withdraw $1,000,000 in cash from your bank? I did. Here's what happened.

in #money7 years ago

@locos @bola @johnanbarasan The banks are not necessarily trying to withhold your money. In some cases, they are only trying to protect your interest and minimize their own risk as well. There have been different cases of people being adopted and their family members were forced to withdraw huge sums of money as ransom. There have also been cases where identity theives have made away with other people's hard earned money.
Most common is robbery. Keeping a huge sum of money in the bank and accepting more through cash deposit only increases the chances that if a bank is successfully robbed the robbers will get away with more money. So, just to cut the whole story short, there are many reasons why a bank will take precative measures disguised as excuses in order to avoid a loss.
@bnt we share the same opinion about @alexvan comment.