DigitalEagle
Tue Oct 01 2024
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5 answers
1050
Do I have to tell the bank why I am withdrawing cash?
Hello there, I'm curious about something regarding cash withdrawals from banks. Do I really have to disclose the reason behind my cash withdrawal to the bank? I understand there might be some security protocols in place, but does this extend to the actual purpose of the withdrawal? Is it a common practice for banks to inquire about the rationale behind cash withdrawals, or is it more of a discretionary measure? I'm just trying to gauge my privacy rights and obligations when it comes to accessing my own funds. Thanks in advance for any insights you can provide.
SamuraiHonor
Wed Sep 04 2024
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5 answers
936
Can a bank ask why you are withdrawing money?
Is it possible for a bank to inquire about the reason behind a customer's decision to withdraw funds from their account? Could a bank have the right to ask such a question, and if so, what might be the rationale behind such an inquiry? Additionally, what factors might influence whether or not a bank chooses to ask about the purpose of a withdrawal, and how might customers typically respond to such a request?
