I'm in Australia where the government recently passed a law to limit cash payments to $10,000. The law specifically wasn't supposed to apply to your own bank account.
I just tried to withdraw $10,000 from Commonwealth Bank, where I have held an account for more than twenty years.
I told them how much I wanted and said I preferably want it all in $50 notes, but if need be could have some in hundreds. That seemed ok, but then they asked my what I wanted it for. I told them that I wanted it because it was my money. They said I had to tell them because it might be for a scam. I said it wasn't a scam and I wanted my money.
The teller called the manager and told her that I wanted to withdraw $10,000. The manager asked me why and told me that I have to answer. I told them I wanted it because I was making a tik-tok video of how much cash I could feed a bear. Obviously that was a mistake, because she responded "That's a new one" and then said she could only give me $5,000 and would that be okay? (For the record, I don't use tik-tok so this isn't the real reason, but I shouldn't have to justify to anyone why I want to keep my money as cash).
Let's be clear - they knew how much I wanted right up front. If it was an issue that they didn't have enough cash they should have said so straight off. Deciding to only give me half of my money after hearing what I planned to do with it is absolute garbage.
It's my money not theirs. But banks always seem to be forgetting this.
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