I tried to withdraw a large amount of cash (over $100,000) from my bank, and they refused to do it. Is this legal?
Untitled
Yes, it's legal. The bank may not have sufficient cash to cover your withdrawal request, and still keep its doors open for other customer requirements.
The bank probably offered to provide some part of the amount in cash and the balance in a cashier's check. It might have asked you to agree to come back in a few days after it had time to obtain the needed cash. The bank probably tried to convince you that withdrawing such a large amount in cash is not wise.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
Yes, it's legal. The bank may not have sufficient cash to cover your withdrawal request, and still keep its doors open for other customer requirements.