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preacherman76

And so it begins

62 posts in this topic

I admit that when I saw today's breaking news on InfoWars.com about Chase Bank limiting cash withdrawals and banning international wire transfers, I was skeptical. Many readers didn't believe it, either. So just to check it out, I called my own accounting team to ask if we had received a similar letter from Chase, announcing that no international wire transfers would be allowed after Nov. 17th.

Sure enough, we were sent the same letter! I've posted a JPG image of the letter below so you can read it for yourself.

Learn more: http://www.naturalne...l#ixzz2hyTyHnzM

Edited by Saru
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This sounds like it might be true for that customer, but not other customers. The allegations made by this customer about why this is being done are probably nonsense.

Let me ask why a customer would be restricted from making international transfers. Why do you think a company would be in trouble for sending money outside of the country they are in?

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This sounds like it might be true for that customer, but not other customers. The allegations made by this customer about why this is being done are probably nonsense.

Let me ask why a customer would be restricted from making international transfers. Why do you think a company would be in trouble for sending money outside of the country they are in?

Seriously, thats your responce? You arent even gonna take 5 mins to find out how true this is before you make assumptions. Cause you know what they say about assumptions dont cha?

Besides, if you actualy read the article, you will quickly see your assumptions are wrong, and chase is openly admitting this is new policy

Edited by preacherman76
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• All cash activity, including cash withdrawals and deposits, will be halted at "$50,000 per statement cycle." How are businesses who deal with a lot of cash (such as restaurants) supposed to function under such restrictions?

Learn more: http://www.naturalnews.com/042529_Chase_bank_capital_controls_financial_red_alert.html#ixzz2hyZndWl8

Since my post was edited, I just wanted to add this bit of info cause of its huge relevence. Especialy to those who will be to lazy to click the link.

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Does this apply to business and investment accounts, or is it just personal savings accounts?

if it's the former, then smells like preparations for bail-ins.

what is a "statement cycle"? one month? one year?

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Does this apply to business and investment accounts, or is it just personal savings accounts?

if it's the former, then smells like preparations for bail-ins.

what is a "statement cycle"? one month? one year?

Natural news is a business, and they got the letter.

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Im still not clear on exactly what a statment cycle is. But from what Ive gathered so far I think its monthly.

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if this a planned currency devaluation, then i would ask what is china doing?

has a deal been struck with them, if not they are going to be somewhat annoyed by this.

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if this a planned currency devaluation, then i would ask what is china doing?

has a deal been struck with them, if not they are going to be somewhat annoyed by this.

Id say a deal has definitly been struck. Just the other day China was calling for the dollar to step down to a world reserve currency

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Seriously, thats your responce? You arent even gonna take 5 mins to find out how true this is before you make assumptions. Cause you know what they say about assumptions dont cha?

Besides, if you actualy read the article, you will quickly see your assumptions are wrong, and chase is openly admitting this is new policy

Actually, Chase is applying policy to a particular customer. The assumptions begin with that dubious agenda site called NaturalNews.

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• All cash activity, including cash withdrawals and deposits, will be halted at "$50,000 per statement cycle." How are businesses who deal with a lot of cash (such as restaurants) supposed to function under such restrictions?

Learn more: http://www.naturalne...l#ixzz2hyZndWl8

Since my post was edited, I just wanted to add this bit of info cause of its huge relevence. Especialy to those who will be to lazy to click the link.

Your post was edited because you were likely in violation of copyright laws and the terms and use of this forum.

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Does this apply to business and investment accounts, or is it just personal savings accounts?

if it's the former, then smells like preparations for bail-ins.

what is a "statement cycle"? one month? one year?

As with all businesses the term statement cycle is defined in the contract between Chase and the customer. Typical statement cycles are one month unless the contract states otherwise.

The letter makes it clear that the customer is of a particular class of customers. Had people taken the time to look they would see that this applies to smaller businesses.

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This has nothing to do with currency values. The only people making absurd claims about Chase are those from wacko agenda sites that love to play the doom and gloom card at every turn.

I ask again although it seems this is too hard for people to figure out:

Let me ask why a customer would be restricted from making international transfers.

Why do you think a company would be in trouble for sending money outside of the country they are in?

Simple questions really. Think and you will begin to get ideas as to what this letter is all about.

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Let's see if Chase allows international wire transfers

https://www.chase.com/commercial-bank/chase-commercial-online/payments-transfers

Wire transfers outside of the U.S.: Our simple international wire transfer interface allows you to see and lock in competitive exchange rates before you schedule your payment in an eligible foreign currency.

Look at that Chase still allows international wire transfers outside the US.

So I ask again, why do you think a business is being restricted from sending money outside of the US?

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As with all businesses the term statement cycle is defined in the contract between Chase and the customer. Typical statement cycles are one month unless the contract states otherwise.

Actually, Chase is applying policy to a particular customer. The assumptions begin with that dubious agenda site called NaturalNews.

The first sentence of the article proves you wrong

The letter makes it clear that the customer is of a particular class of customers. Had people taken the time to look they would see that this applies to smaller businesses.

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Let's see if Chase allows international wire transfers

https://www.chase.co...ments-transfers

Look at that Chase still allows international wire transfers outside the US.

So I ask again, why do you think a business is being restricted from sending money outside of the US?

It doesnt begin till Nov 17th.

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It doesnt begin till Nov 17th.

Is that all you can say?

It seems like all you are doing is taking that wacko agenda site called NaturalNews hook,line, and sinker and not thinking for yourself. Try it you might like it.

Here is a hint: The letter does not apply to all customers as shown in the letter. Forget what the doom and gloom site tossed out. Think for yourself.

Seems I need to push a little here and try to get people to turn on their thinking caps

So I ask again, why do you think a business is being restricted from sending money outside of the US?

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It doesnt begin till Nov 17th.

There is no notice of termination of services which the bank would be required to post. Why is that?

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why do you think a business is being restricted from sending money outside of the US?

er, because the bank doesn't want the customers to move money to a foreign bank?

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Is that all you can say?

It seems like all you are doing is taking that wacko agenda site called NaturalNews hook,line, and sinker and not thinking for yourself. Try it you might like it.

Here is a hint: The letter does not apply to all customers as shown in the letter. Forget what the doom and gloom site tossed out. Think for yourself.

Seems I need to push a little here and try to get people to turn on their thinking caps

So I ask again, why do you think a business is being restricted from sending money outside of the US?

What else is there to say? Why would they stop advertising international wire transfers a month before stopping it? You know what, whatever. This will all prove beyond true before the day is out. Wonder how you will spin that info.

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There is no notice of termination of services which the bank would be required to post. Why is that?

But there is. From what I just read this exact notice was sent to thousands of businesses. Details coming soon.

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But there is. From what I just read this exact notice was sent to thousands of businesses. Details coming soon.

So there you are hedging away from the claims of the wacko agenda site called NaturalNews. Good for you.

There is no post of termination of services on the Chase site, because the letter does not apply to that class of accounts, but does apply to some accounts.

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er, because the bank doesn't want the customers to move money to a foreign bank?

Well done Little Fish. The bank is not going to allow certain customers to transfer money to a bank outside of the US.

The first clue comes from the letter which is addressed to a customer that falls within a customer category called "Chase BusinessSelect Checking." There are other categories of customers, but according to the letter this applies only to that category.

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What else is there to say? Why would they stop advertising international wire transfers a month before stopping it? You know what, whatever. This will all prove beyond true before the day is out. Wonder how you will spin that info.

Again you post a nothing post. This is a heavily regulated industry. They cannot bring in new customers and then strip them of expected services. They must provide a heads up to customers.

The issue is that some, but not all, customers are being restricted on sending money out of the country.

I would suggest that the reason is due to any of a number of possibilities including:

1. Past behavior of the customer

2. New government regulations

3. Increased costs to the bank

4. The bank losing a contract for services

What can you think of that I am not adding to this short list? The doom and gloom conclusion of the NaturalNews staff is rather inane.

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So there you are hedging away from the claims of the wacko agenda site called NaturalNews. Good for you.

There is no post of termination of services on the Chase site, because the letter does not apply to that class of accounts, but does apply to some accounts.

Yes, it applies to small businesses. And Im not hedging away from anything. This makes no sence what so ever.

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