The trend of clamping down on cash continues. The war on cash perpetrated by the big bank stays the course. JPMorgan Chase announced that it is limiting cash withdrawals at its ATM machines across the United States.
The financial institution said that because of criminal activity, like fraud, and heightened regulatory scrutiny, it is tightening the screws as of April 1. The bank has capped ATM withdrawals at $1,000 per card per day for non-customers.
In addition to money laundering fears, JPMorgan said that individuals were pulling out tens of thousands of dollars at a time when the bank was updating its ATM machines. They also identified that customers were withdrawing $100 banknotes.
A spokesperson for JPMorgan noted that “it was prudent to set withdrawal limints on all of our ATMs.”
Ostensibly, more and more banks are limiting our access to our money. With economists, public officials and banks calling for the end of cash and central banks eyeing subzero interest rates, it seems consumers are gradually running out of options.
Maybe their customers should find another bank to deal with?
Or better yet, maybe the People should reduce their holdings in their bank, and deal more in cash in transactions instead of using debit cards.
Never keep more in the bank than you are willing to lose.
Sounds to me like people are wise to the federal reserve fraud and everyone is trying to get cash before they seize savings. WE NEED TO ARREST EVERY SINGLE POLITICIAN AND BANKER IN THE WORLD AND HAVE NUREMBERG TRIALS FOR THEIR CRIMES AGAINST HUMANITY.