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UK Banks Changing Account Terms; Can Limit Withdrawals

UK Banks Changing Account Terms; Can Limit Withdrawals

Banks in the United Kingdom have begun changing the terms of Bank Accounts to LIMIT or REFUSE withdrawals that "may affect their financial stability."

Account holders at Yorkshire Bank, for instance, received notification that the Bank changed account terms to say "We have the right to restrict transactions where we reasonably believe our financial stability may be at risk, such as actual or potential abnormal levels of withdrawals."

Put simply, if a whole slew of depositors start losing faith in the bank, and start taking THEIR money out, then the bank gives itself the right to prevent YOU from taking YOUR money out.

Changes like this don't happen by chance or for no reason.  It seems logical to many account holders that the reason the banks are doing this is that they fear something in the future will cause people to come withdraw their money.   

Bank account holders in the UK should look carefully at their account terms to see what rights the banks give themselves.  It may actually be safer for people to keep a significant portion of money OUT of banks.   This way, YOU can get to it no matter what happens to THEM.

Comments   

+1 # Lebanonell 2022-09-17 22:46
People robbing banks because banks won’t let them have their own money.
-2 # Linkell 2022-09-17 22:54
https://twitter.com/radiogenova/status/1570829793289175042?s=46&t=cTtuPFmM-Bwrzo41CaTaHA
# Where's the bank ?oldschool 2022-09-18 12:08
I see no bank in that video. And I seen no robbers getting any money from anyone.
+1 # RE: UK Banks Changing Account Terms; Can Limit Withdrawalsthesloth 2022-09-17 20:17
Most Canadian Banks have a 2000 dollar limit per day if you just walk in. If you want a larger lump sum you have to make an appointment, usually at least three business days in advance. Then the limit is 10,000 dollars. This has been going on for a few years. In the small print of your account agreement your deposit is a share or loan to the bank. This changed a few years ago also. This allows the bank to declare your money an investment loss when they go bankrupt.
-2 # YepForrest Mosby 2022-09-17 18:08
Cash is otw out
# "U.S. Bank"t.n.kuss@hotmail.com 2022-09-17 17:21
Already has that Policy... Don't believe me? Go down to your local Branch and "ASK FOR $100,000 FROM YOUR SAVINGS ACCOUNT." You won't get it "UNLESS THEY APPROVE THE TRANSACTION AND YOU WAIT FOR SEVERAL HOURS WHILE THEY SEND FORWARD THE REQUEST TO WHICH A KEY BRANCH SENDS THE NECESSARY CASH AMOUNT APPROVED."
-4 # 1995 ProphecyJohn Jones 2022-09-17 15:07
My 1995 Prophecy,

The banks will take the people's money and not allow withdrawals. Put your money in to slap and tickle outfits if you want to beat inflation and the coming financial collapse.
# RE: UK Banks Changing Account Terms; Can Limit Withdrawalsdaniel_martin 2022-09-17 13:48
1990 the Prez of Brazil grabbed all accounts. Thousands of Riches commited suicide, as they prefer dead than broke. The US Gov once outlawed citizens to own Gold. History is Full of Gov Theft. If I had a Lot of Money I would have cash + Gold in my house, in a armored car, food ammo for years. Theres no way we enter in WW3 and Banks and your pocket not to be affected. The moment to cash out get out is now, before the storm. Later can be too late.
# RE: UK Banks Changing Account Terms; Can Limit Withdrawalsclove 2022-09-17 13:12
So. This could be our que that the bigger banks in England may be about to fall. If they do fall, the US will follow, a week, maybe 10 days later. And we could have limits soon. No one knows for sure. As soon as the banks begin to fail in the UK, England. That would be our que to remove what we have in currency. Unless....the US has imposed withdraw limits. The time may be now. Our stock market is slipping. Maybe it won't come back up this time. We have been tricked because they have the stock market going down then up again. Remember the Dow was at 37 about a year ago. It has gone down slowly to 29 once. Then it went right up to 31. We got comfortable with 31. Those in charge manipulate the market. Money in the market is not real money. Dow is at 30. Let's see what Monday brings. Most are asleep. Saying oh yes the Dow goes down, but it ALWAYS comes up. People have forgotten what happened in the past. Try removing 5k in 5s from your bank, and see what happens. Since CV, they may not have it. They may have to be ORDERED. You may have to wait a week for your 5s.
# No problem,oldschool 2022-09-18 12:37
I can walk in write a check for 5k , they ask me how I want it, in smaller bills or larger bills. I usually get a mix. They don't bat an eye. A small privately owned bank where everyone knows you and they greet you by your first name when you walk in the door.
However when the system crashes it won't matter who you bank with. The paper you have in your pocket is the same regardless if it came from a big bank or a little bank, it is only paper.
-1 # Brexitcarlireland34@gmail.com 2022-09-17 13:53
The new Prime Minister Liz Truss is going to scrap all remaining EU laws on the UK Statute Book asap.
The EU brought in bail-in legislation - this will merely replace a government law with a private law to the same effect.
+3 # RE: UK Banks Changing Account Terms; Can Limit Withdrawalsclove 2022-09-17 13:35
The 24th is less than a week away.
-1 # Forget goldSrmay72 2022-09-17 13:06
Metals are only worth what TPTB will pay. Best investment would be a place in south America or they say Vietnam is cheap and good to westerners America I'm afraid will soon be in a state we won't want to live in. They say 2025vaxed will be dead I think it's much sooner. Locally we have 5g popping up everywhere and on cue heart attacks, clogged viens deaths seen people holding signs complaining the funeral. Homes are not printing the obituaries ours are weeks behind and zombies are furious
+1 # Remember goldcarlireland34@gmail.com 2022-09-17 13:50
has kept its value for thousands of year - like NO other currency.
It does not keep pace with the dollar printing machines - because they are crshing with debt and inflation.
I have gold - I will not make free money - but neither will I lose my money.
# Gold is good,oldschool 2022-09-18 12:48
However you would need to have it in very small pieces because otherwise you are going to take a beating trying to trade and barter or pay for small things in pieces of 1oz gold.
I think silver is the better way to go for a trade and barter situation.
+1 # I FEENZ KIWI 2022-09-18 03:52
WE are about to taught yet again THE GOLDEN RULE , those that have the gold make the rules
# Just looked today they are still only showing week old at leastSrmay72 2022-09-17 13:12
My town obits are only up to sept5th local papers are also lagging. We have had 3young people die in a downtown with 3streets
-1 # Elephant in the roomtslinger 2022-09-17 12:38
So uh...what is "money" anyway?
Whatever they say it is.
-1 # Money iscarlireland34@gmail.com 2022-09-17 13:47
a promise to pay.
They are adding"....but only at a time that suits us."
-2 # █▓▒░ Dr. Stephen Leeb: ░▒▓█Palehorse 2022-09-17 12:37
|

We Are On The Verge Of A Massive Change In The Global Monetary System

(Eric), “it gave me shivers the other night when I realized that
every essential resource that we need for renewable energies,
that we need to build out renewable energies, are only found in
sufficient quantities in the eastern part of the world. It’s no
accident that Europe is falling apart. It’s no accident that NATO
is on its way out, and that as a result we are going to have a
bipolar order, or if the West continues to refuse to cooperate,
something much worse.”


https://kingworldnews.com/we-are-on-the-verge-of-a-massive-change-in-the-global-monetary-system/

____ŽoMßÎËÞLÅÑËT
# We've had the resources for renewable energy for a very VERY long tLilBirdie 2022-09-17 13:13
The recipe for renewable energy has always been the same
Copper and magnets!
Spin magnets around copper electric charge is created.
The method they use to spin those magnets is the only thing that's changed.

When talking about renewable energy everyone leaves out hydro. It's is by far and away the cleanest, cheapest and easiest way to produce electricity.
Before you harp at me about dams there are many other ways to harness the power of water. The dams allow us to store that water for future use.
Last note, someone spoke the other day about the drought in California. That drought has been 100% man caused.
By releasing from the dams at pretty much full flow and sending that water directly to the ocean they caused this.
It's all been cause & effect. Fields dry up, Soil erodes, Forrests dry up and burn. The more Forrests burned the less oxygen created the less rain produced.

Me:(stepping off soapbox)
+1 # Gotta agree, and might I addcarlireland34@gmail.com 2022-09-17 13:45
industry is foling people that you need billion dollar batteries to store electricity. Wrong.
Pump water uphill into a reservoir - which can also serve for drinking water.
At the bottom of the hill put a water driven generator for times when wind or solar is not on tap. When it is on tap - pump the water back uphill. This is kmown, already in use technology.
It is inefficient - you lose a lot of energy - but it is FREE energy !
# Ram Pump!LilBirdie 2022-09-17 18:36
Very inefficient.
Has been in use since the Romans.
9-10 feet of drop will go 150ft uphill.
Another good one is a spiral wheel. It scoops a funnel full of water, works it through the spiral and pushes it up hill.
Store in reservoir at top. Recirculate.
Or in modern terms wash, rince, repeat.
# Pound sterlingcarlireland34@gmail.com 2022-09-17 11:33
has dropped. So of course people want to take out sterling from their bank and buy dollars.
The banks make their money by currency arbitrage - but you are not allowed to.
# News Travels Fast.Doug Brown 2022-09-17 11:20
News such as this especially so.
I wouldn't put it past things to suggest that
damned undermining letter from yesterday
might of played a role.
+7 # RE: UK Banks Changing Account Terms; Can Limit WithdrawalsRAFO 2022-09-17 11:16
Let’s see…

1. Your deposits are listed as a DEBIT on their balance sheets, not a credit as you would think. Although they need your money to loan out, they don’t necessarily like you owning it.

2. Due to Fractional Banking there’s actually only a small amount of cash on hand at any one time, as compared to total deposits. So, a bank/credit union works on the FAITH it’s members has in it. No faith = bank run. Think about the movie “It’s a Wonderful Life” and what Jimmy Stewart explained to his depositors. Your money isn’t in the bank… it’s in Joe Blow’s house and he’s paying it back.

3. Side note… Safety Deposit boxes are NOT SAFE and can be raided by “law enforcement” or the bank on a whim. Use them at your own risk.

4. The fact that banks/credit unions would put limits on withdrawals is not surprising, especially in today’s financial climate. It’s just another sign of the times. As they say, being forewarned is forearmed. Limiting how much you have in a financial institution just makes good sense.

5. Financial tip… look for insurance companies to start going under in the near future due to extraordinary payouts due to high death rates. Long standing Actuary tables have been turned on their heads… no longer reliable at predicting risk, which is what insurance industry is based on. I’m NOT a licensed financial advisor so listen to me at your own risk.
+2 # Saftey Deposit boxes not safe,oldschool 2022-09-17 12:36
And don't be so gullible to think your going to get anything from the FDIC or NCUA. It's all owned by the Fed. This statement from Wikipedia made me laugh ; " FDIC insurance is backed by the full faith and credit of the government of the United States of America " LOL ! Notice those trusting words, "Full faith and credit" .
+2 # Correct!Kali K 2022-09-17 12:18
And the G8 made it so when you deposit your money into the bank you are actually LOANING the bank the money. If they go under, don't expect to get any back even from the FDIC as you will be LAST on the list and get whatever is left...which won't be anything!

If they limit your withdrawals from the bank, think outside the box. I know atm/debit cards have a limit as well. The atm is usually around $500 and the debit around $1500 or so. You can go to the store and buy a pack of gum and get cash back to the upper limit of the store. You can do this several times. Heck, if you are out shopping anyway you could go in, buy a few things on the list and check out with cash back maxed and then come back in and get a few more things and again, max the cash back until you've maxed the the limit on the debit card. Work around their 'limits.' Of course you can double the atm limit if your spouse uses their card on the same account as well.
# RE: Correct!clove 2022-09-17 13:24
One thing though. This is true right now. And if you can still get 100. bucks from WM today. It might be 10 bucks in the future. As WM is owned by F E M A. Other places have a 20. or 50. buck limit right now. This could turn in a day. Let's see the market on Monday. If it falls on any other day, soon, it would fall before lunch time. You would know to go to your bank on your lunch break. Keep an eye out. If the UK banks fail. Go to your bank.
+2 # RE: UK Banks Changing Account Terms; Can Limit WithdrawalsGunner 2022-09-17 11:13
Anyone that has a lot of cash in the bank at this point is truly a complete IDIOT!!! Get your $$ the fuck out these criminal institutions because they are going to shaft you like a homo from California.
+1 # Bankers' Know Best?acturner067 2022-09-17 10:42
We got to keep it safe from you folks that are not smart enough to keep it from us. Besides soon their will be the clean and safe digital money system to replace all of that germ laden funny money. We will be able to govern the flow of it. It will be like the ''no fly list'' you bad person we get keep it and profit from your bad ways. You could think of us as your new parents and you want own anything and when we ground you, you best be happy, Ha Ha.
+12 # WARjroot 2022-09-17 10:30
Reasons? Likely large withdrawals are already taking place to pay for the exorbitant energy costs and the banks see failure on the horizon. This is the first step in halting account draw downs; the next will be bank closure and bail-ins otherwise known as theft of accounts. And, do not think for a second this will not come to the US while spreading to other countries. We are in the process of an economic collapse around the world. NOTHING is safe from the bankers.
+9 # I agree 100%Dogsncars 2022-09-17 10:34
You are right. This will come here. I already had to let the bank know a week in advance to with draw $12,000.
# RE: I agree 100%oldschool 2022-09-17 13:05
Been drawing out for some time and often but in smaller amounts like $500 $1000 $5000, Leave enough to pay bills. Never had a problem but I bank with a small home town state bank.
+6 # RE: UK Banks Changing Account Terms; Can Limit WithdrawalsMaid4theLamb64 2022-09-17 09:56
Great Depression........... Grandparents had a safe.... guess we're going back to that.
# Problem IsKali K 2022-09-17 12:29
Companies don't pay with cash nor even with paper checks in more (except for rare occasions.) They want to electronically deposit the check in either a bank account or on a debit card. Even if you DO manage to get a paper check, cashing it at the bank may be a problem before long and cashing it at a check cashing place costs.

Again, you'll have to do a work around to withdraw your money. Taking out the limit on ATMs every day. Taking max cash back at the stores several times until you hit the debit card max for the day, etc.
# Unless the rules change.clove 2022-09-17 13:30
Unless the rules change. There is nothing we can count on to stay the same.
+6 # wrongjosey wales 2022-09-17 12:20
What good is a safe going to do once they eliminate the physical currency.

Notice I clearly said currency and not money.

Everyone needs to look at themselves in the mirror and then go sit down with a pen and paper and turn off the TV and then write down everything they are going to need for the next 5 to 10 years for items such as boots, clothes, socks, underwear, coats, hats, lamp oil, lamps, batteries, lead, brass, and food.

Once you make that list then you need to go out and purchase those items assuming you can find them.

Remember a good quality set of boots will now run between 300-400 per pair. I am not talking about the ones you buy at Walmart. Quality will last. Why boots? Everyone will be doing a lot of walking in future.

I personally have close to $2,000 invested in boots alone that I wear and I am not even a blue-collar worker. The boots that I like and have are no longer mass produced but fortunately I was able to find a pair on ebay that were still brand new. So I literally picked them up less than a month ago to set aside for future use once my other boots start to wears.

Boots a long with quality socks are some of the most important prepping items you can get in your possession.

Now, I realize that most of the people who are reading this are probably retired and think you are living the good life.

Don't worry you too will be affected.

The DIGITAL dollar is not the same as the dollar today when one uses their credit and/or debit card. The forthcoming digital dollar will provide direct access from the government directly to your accounts where everything will be able to monitored in REAL time.

You want to go get that item in the future, with those digital dollars, and you want to purchase something that the federal government does not like, good luck getting it, this will be how they will ration food and other important things down the road.

Finally, if getting a pair of boots, ensure that they cover the ankle and protect the ankle. If you are part of a group (family,husband, wife, kids, grandkids, etc.) you can only move as fast as the slowed person. So, if traveling and someone twists an ankle because you failed to ensure that everyone in your immediate group did not have proper foot gear, it will be your fault

Remember, simply praying and having "faith" is not enough.

“Even so faith, if it hath not works, is dead, being alone.” James 2:17

“But if any provide not for his own, and specially for those of his own house, he hath denied the faith, and is worse than an infidel.” I Timothy 5: 8

Good luck!
-1 # Bicycles?Paul Lambert 2022-09-18 05:26
Excellent post. However, I wonder whether you should add bicycles to the equation.

I am actually surprised they don't feature more prominently in dystopian or end-of-civilisation fiction. It seems to me that in a situation with no fuel, we will be converting food directly into mechanical energy by using our legs and feet.
# Depends, where do you live and how healthy are you.oldschool 2022-09-18 00:31
I do not know where you live but I can almost guarantee you that here in South Dakota or North Dakota or Montana or Minnesota during the months of Nov Dec Jan Feb you are not going to see families out moving around the country by foot. at a -10 or -20 below zero and a wind blowing gives you about -40 -50 -60 below zero chill factor. I have lived in this country all of my life and worked outdoors a big part of it. Husband, Wife, Kids, & Grandkids will not make it living outdoors in this country during winter months without shelter, heat, food and water. Guaranteed.
But yes I agree with your supply list and having warm clothes and the boots and all of that, but up here in this country shelter needs to be on the list also.
Another thing, we are talking about healthy people who are able to walk. There are Thousands of folk that are physically or mentally handicapped or both and of old age that can barely get around even with a walker,
traveling is a thing of the past. My wife is one of these people. I am in good health myself but unfortunately not so for her.
+2 # Don’t forget to break in the bootsGmcclenon 2022-09-17 14:08
Don’t want to pull a brand new pair of boots out of storage only to find out they give you blisters. (Infection while long range hiking is not the hot tip.)
-1 # DUHjosey wales 2022-09-17 18:57
Thanks Captain Obvious
# Great advise !LilBirdie 2022-09-17 13:33
I currently keep no less than a dozen pairs of jeans, shirts, under garments, and good socks in a trunk for each member of the family.
Each person has both summer and winter muk boots. I frequent yard sales and estate sales looking for cheap quality shoes. The salvation army is a great place to find afghans other people knitted/crocheted. It's a wonderful way to store large amounts of yarn. Unravel knit something new like socks,sweater gloves etc.
For those that don't like "used" things, any item you've utilized a second time was "used". Get over it
# RE: wrongclove 2022-09-17 13:32
Currency may last a bit longer. And could be used for awhile locally longer.
+3 # TruthSBGlett77 2022-09-17 12:42
.
This comment, including the scriptural support, should get 100 upvotes.

Whatever is coming currency-wise, will not be your friend, whether digital, near-worthless paper, local scrip, or hyperinflated nothingness.

With some diligence, even nutritious and delicious food can be procured that will last 5-10 years.

And as you have said, providing for your own house ( I Tim 5:8 ) also includes providing protection ( Luke 22:36 ). As another example, God indeed fought for Gideon, but he also expected him to show up ready to fight. "Nah, I'll just stay home - I know you'll fight for me". We're all going to be somewhat afraid, but it is the refusing to go forward in spite of that, that is cowardice ( fearfulness ) Rev. 21:8 .
+3 # Thank youjosey wales 2022-09-17 13:28
SBGlett77,

Thank you for your kind words.

Hebrews chapter 11 is the chapter on faith. Example after example in chapter 11 clearly shows that God will ONLY do his part after WE have done OUR part.

Unfortunately, the church here in the US doesn't explain this as this would hurt their offerings and revenue streams.
+7 # Probably a good ideatrimmer 2022-09-17 09:53
To keep ALL of your money out of the bank starting Monday morning.
+5 # RE: Probably a good ideaGunner 2022-09-17 11:14
I took out all of my shit literally like 3 years ago!!! Writing has been on the wall for years at this point people.
+5 # I only keep enough to pay the billsDogsncars 2022-09-17 10:36
I only keep enough to pay the bills for the week. I only keep a thousand in savings to cover the checking incase of a over draw. The rest I pull as cash and use or store
+12 # Banksterschip 2022-09-17 09:39
Are just Gangsters who don't carry guns.
Those SOBs will rob you blind and smile
while they do it
# RE: BankstersPaul Lambert 2022-09-18 05:29
There is nothing wrong with banking as a concept. If the industry has become corrupted, an honest appraisal of everything involved will reveal, like in any other institutionalised evil, a government policy or regulation.

 

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