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Banks are removing cash

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Thread replies: 28
Thread images: 2

Is it still possible to withdraw cash from the bank in your country? I went to the bank to withdraw about ten thousand dollars the other day, and they just looked funny at me and said "Hah, we stopped using cash years ago." and she even offered me to join a course where they were talking about money. I began laughing, but they were not amused.

The banks is pushing cash-less societies hard, and sells it as a good thing. They say that today only criminals and charities use cash. The real reason why they are doing it, is so they can track every transaction. There is also a negative interest in many banks already, which makes you lose money by saving in the bank. During the financial crisis a large Italian bank decreased the interest by a considerable amount and took the small-savers money to save the bank. This is the future, where banks will be able to charge you very much for using their service. They could also just freeze your cash if they don't like you. They do of course not announce this to the media, but the change is already outlined and in full action. There is no doubt that people will look for free, anonymous alternatives like digital currencies in the future.
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You just live in a third world country
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>>1737664
I live in Norway, and they are doing it all over Europe. In France there is several restrictions regarding the use of cash, and Switzerland will soon put fees on cash.

This year the EU implemented the BRRD-directive, which ensures banks will be able to do "bail-ins" to save themselves from bankruptcy.

"The Commission proposed amendments to the Bank recovery and resolution directive. The amendments include measures that will further strengthen the European resolution framework and the ability of relevant authorities to achieve resolution outcomes that are effective in safeguarding financial stability and public funds."

http://ec.europa.eu/finance/bank/crisis_management/index_en.htm
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>>1737658
Typically in the US if you want to withdraw a moderate amount of cash ($10k or more) you call the bank a day or two in advance, so they can have it on hand.
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I'm not a fan of investing in Bitcoins and similar yet, but i'm sure it will gain a larger role in the future. Metals is complicated to trade with.
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>>1737658

the main idea is to prevent a bank run when they impose negative interest
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Obvious impending crash is obvious?
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>>1737658
>Is it still possible to withdraw cash from the bank in your country?
sure, that really sounds like bullshit.
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I work as a programmer in the cash department at one of the world's biggest banks. Ama
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>>1737683
Theyll have to do a SAR "suspicious activity report", its required for them to do that everytime someone does anything with more than a few thousand cash.

>>1737658
I dont see anything suggesting that they discontinued banknotes
https://en.wikipedia.org/wiki/Banknotes_of_the_Norwegian_krone
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gbpusd.png
27KB, 1234x924px
>>1739315
How much do you look at charts? Do you do anything with order flows?
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>>1737658
all transactions were already being tracked decades ago. It is just more efficient now.
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>>1737675
Negative interest implementation. Pushing the slave to spend cause muh Frankfurter school of thought about economics.
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>>1739336
no I just work on the systems that people use to order and deposit cash
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>>1739315
Describe to us a common day at work
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>>1737675
I know Sweden is almost cash-less so I wouldn't be surprised if other Scandinavian countries are going that direction as well. However this is harder to implement in larger countries and we probably won't see cash entirely fazed out in most countries for 50-60 years
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>>1739412
get to work around little before 9, we do devops so it doesn't really matter, 25% of the time we're building actual new features that the customer sees and benefits from, 25% we're improving the system so that we get less failures and incidents, and 50% we're doing upgrades of shit just to comply to IT standards, or migrating because management decides that we're using so and so system. It takes about 2 weeks to plan and perform a deployment of our backend applications now, 95% of that is getting security to approve.
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>>1737658
I had to go to a main branch to make a withdraw over $2500. The little satellite branches told me they couldn't fill it from the registers and they didn't have access to the main safe.

At the main branch it took about twenty minutes. Paperwork to make the request, questions to make sure I wasn't getting ready to wire cash to a Nigerian Prince.

I said "I'm buyin' a used car." They said "ok." I walked out with an envelope full of hundreds.

Wasn't a problem.
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>>1737658

if you get 100 notes of anything (5 to 500 euros) at my bank, you get a little paper bow on the stack to show appreciation.
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>>1739535
>>1739537

and up to 10k it takes about 2 minutes (including time to run it through the counter).
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>>1737675
What would you withdraw 40.000 NOK for?
This is a nation where a months rent tends to hover around 4000-5000NOK per person.

Or are you another Pax Liberalistic faggot?
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>>1739364
many such cases!
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they'd better not get rid of cash. How else am I supposed to pay for my hookers and blow?
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>>1739570

buttcoin ofc!
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>>1739594
which takes 20 minutes for a transaction to confirm. that isn't going to fly when I'm trying to buy a sack on the street corner
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>>1737658
Yeah this has been going on for decades.

The future is looking darker and darker.
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>>1739626

imagine the awkwardness!
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>>1737658
Germany:
Last year I wanted to take 9.000 € in cash from the bank the woman was a bit surprised. Stood up and left for a couple of minutes.
Came back and said to me that I am lucky that somebody brang a big amount of money to the bank just today and that they can pay it now.
But thats not the normal case and next time I want to take such a big sume I have to call them one or two days before so they can get the money from the central

In france you are now allowed to pay in cash for things more expensive than 1.000 € (dont remember the exact sum)
Thread posts: 28
Thread images: 2


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