/biz/ - Business & Finance

[Anonymous No.58407599]

Why are banks like this? Is this really all because of fractional banking? If so that shit needs to stop, it's not needed. Banks shouldn't need to make so much money, just be a fucking BANK.

[Anonymous No.58407660]

I never had issues like this. Sure you need to increase max daily withdrawal per banking app (which usually 2k). Then just go to the atm and get up to like 10k. Above that talk to the banker. German banks also use fractional reserves.

[Anonymous No.58407865]

>>58407599
>just be a fucking BANK
that has not been the case for ages now
the money is in treasury bonds and CRE
they're all underwater and the money is gone until 30 years

[Anonymous No.58407919]

>>58407865
Lmao we are so fucked

[Anonymous No.58408220]

>>58407599
Optimistically, this is done to protect irrationally emotional customers from handing over all their money to hindsightly obvious scams.
And factually, they are correct: If people are not allowed to withdraw their money, they cannot lose it to scammers.
This saves the bank a lot of effort on mostly pointless fraud investigations. An ounce of preventing customers from getting their money is worth a pound of cash.

[Anonymous No.58408420]

>>58408220
>>58407599
Because customers are retarded, dude. They will be back in a week after withdrawing and kvetch and cry about how we didn't protect them from fraud. Your average bank goer who actually comes into the branch is typically too retarded to use an ATM or online banking. So yeah not gonna give money out to retards who then in turn come back and blame us for getting scammed.
I'm more worried about you. You see some stupid ass tweet and get all upset about it and post on biz? Wtf?

[Anonymous No.58408450]

>>58408220
oh why thank you mommy big bank for protecting me from the big bad real world! never let me go mommy, i know you'll always be there to help me never have to make my own decisions you're so kind! you must only have my best interests at hear forever and always so keep my money mommy!

[Anonymous No.58408463]

>>58408420
>>58408220
>wow you're reacting to this tweet for no reason after I just explained to you why I think what that tweet is talking about is actually a good thing
Who could make such a post? First of all, you're not "giving money out", it's their money and you should be thankful that they let you put it on your balance sheet. In an era where things like sports gambling is a swipe away on your phone and drugs are increasingly becoming recreationally legal, where within everyone's recent memory the banking sector went tits up due to their own horrible, stupid decisions and had to be bailed out by the public sector, there's really no leg to stand on with this nanny state type of thinking. You're not the 'adults in the room', everyone knows the emperor has no clothes. Banks can't even help themselves, the idea that they should be deciding where their patrons' limits are is laughable.

[Anonymous No.58408465]

>>58408220
Imagine being such an autocratic dick sucker. Its time heads get chopped off.

[Anonymous No.58408476]

>>58408420
>us

[Anonymous No.58408494]

>>58408420
It's more for reasons like this, say he spent $3k on a shitcoin and tried phoning the blockchain to revert the transaction, this is why decentralization will never work

[Anonymous No.58408500]

>>58407599
i spend 4k 10k whatever at once no one ever cares. dunno what retard banks you guys are with but banks in western europe where i live have never given me any issues. neither with sending/receiving to/from exchanges nor with withdrawals. a long time ago i cashed out 40k in one go and then bought a car with it with a check no one cared.

[Anonymous No.58408542]

>>58407599
why didn't i become a banker, my father told me to become a banker WHY THE FUCK DIDNT I TAKE HIS ADVICE, i could've been making money but instead im neeting, alone and investing in retardio for fucks sake how did i ruin my life like this

[Anonymous No.58408656]

>>58407919
it cant go any lower. we are DUE for an economic boom.

[Anonymous No.58408668]

>>58407865
if there's a reason for the "everything bubble" to pop, it would be this, a banking crisis, which is inevitable because of fractional reserve banking

[Anonymous No.58408762]

>>58407599
Who gives a fuck? You realize cash is just as cucked as bank deposits right? Why you a lot doomer fucks not get this, they think cash is some sort of hard asset. Its an IOU just a bank deposits, except its even more worthless, its an IOU from the government lol. So a bank blocked you from withdrawing, so what, you were just trying to run one IOU into another. Hold real assets, not government money or bank money if you want real financial freedom.

[Anonymous No.58408799]

>>58408220
>No you don't get it, WE need to have control over your wealth, not you!
Thank God this is bait because I would be disappointed if people were actually this fucking stupid and awful

[Anonymous No.58408808]

>>58408762
People need to withdraw cash to pay for food and buy shit like cars and houses. Absolutely nobody has 100% of their wealth stored in hard assets and if you have a job then your paycheck goes directly to your bank account and if you want to use it then you need to take it out somehow. Basically, you're underage and full of shit

[Anonymous No.58408823]

>>58408808
Its called a credit lol?
>Absolutely nobody has 100% of their wealth stored in hard assets
I literally pay my credit card with stock margin. I have negative exposure to cash.

[Anonymous No.58408826]

>>58408808
And you're an idiot if you still use banks in 2024, why do poorfags do this? Just direct deposit to your brokerage. Why do you idiots let banks cuck you with such dogshit interest rates?

[Anonymous No.58408994]

>>58408826
Gemini wouldn't allow me to wire directly to my brokerage, I had to route through a checking account.
Not sure if I need a better exchange, or a better brokerage.

[Anonymous No.58409069]

>>58408668
>if there's a reason for the "everything bubble" to pop
what the FUCK are you even talking about
there are no more bubbles, fiat is worthless
if anything, it will send asset prices even higher because of federal insurances covering unrealized losses

[Anonymous No.58409179]

>>58409069
this lol why don't people get this? Muh bubble only means something with a hard currency.

[Anonymous No.58409218]

>>58408220
This has to be bait. If not, truly, fuck you

[Anonymous No.58409226]

>>58408994
Yeah use services that don't censor you, or just have banks accounts with $0 in them you just use to route payments around. Just never keep money in a bank because you're just giving them free money on the interest rate spread that they get from the fed for free. Cash is even worse because you just giving the government free money because they just dilute your share to fund gibs and wars.

[Anonymous No.58409330]

>>58408799
You give full control of your money to the bank the very moment you sign all the papers and put the money in.

If anything you're the stupid one here for being surprised that bank is in control after you literally signed the papers saying that same exact thing.

[Anonymous No.58409357]

I actually had something similar happen. My father passed and had 5k in his bank. Me and my bro split it and they asked if we wanted cashiers checks or cash. I said cash and they said actually we don’t have 2.5k cash. Why the fuck did you give me an option.

[Anonymous No.58409456]

>not your keys not your coins
money not in your possession it's not your money

[Anonymous No.58409457]

>>58409330
It's always the poorest motherfuckers who either don't know or understand this too. Like people who think $50k makes them "well off" or some shit.

[Anonymous No.58409716]

Pre-covid banks had to hold on to at least 10% of their customers deposits and not lend it out or do any other funny business with it. During covid, it was reduced from 10% to 0%. Last year they tried to raise it back up to 3% and the banks said "nope, 3% is too high and we can’t do it"