Bank Refuses Customers Cash Withdrawal Over $2,000
Bank of America has been restricting its customers from withdrawing large sums of cash if they can’t provide a good enough reason for needing it - according to several Gwinnett Daily Online sources. GDO has interviewed local consumers in the Greater Atlanta area as well as unnamed sources within banking institutions and this is what was communicated to us.
According to bank officials who agreed to comment under the condition of anonymity - the not-so-popular policy was brought in to effect back in November of last year. Furthermore, bank customers are not being notified of the new measures. Only upon attempts to withdraw more than $2,000 in cash are customers being enlightened, according to our sources.
One customer who attempted to withdraw $11,800 in cash last Friday was only allowed to withdraw $2,000 because, according to our sources, the customer lacked hardcopy documentation for needing the money in cash. Initially, the teller blamed the bank's lack of cash to an inability of the Federal Reserve to make deliveries due to the massive snowstorm that crippled the city days before.
However, the customer was quick to point out that less than 3 inches actually fell and that the federal currency depot is located here in Atlanta, only 15 miles from where the bank in question stood. Only then was a bank manager made available to explain the new restrictions on cash withdrawals to their customer. The manager then apologized for the miscommunication and confusion of their teller. The bank manager also added that, to their knowledge, the new policies existed world-wide.
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