{"id":19562,"date":"2016-04-05T12:18:03","date_gmt":"2016-04-05T17:18:03","guid":{"rendered":"http:\/\/olduvai.ca\/?p=19562"},"modified":"2016-04-05T12:18:03","modified_gmt":"2016-04-05T17:18:03","slug":"the-lock-down-has-begun-jp-morgan-restricts-atm-cash-withdrawals","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=19562","title":{"rendered":"The Lock Down Has Begun: JP Morgan Restricts ATM Cash Withdrawals"},"content":{"rendered":"

The Lock Down Has Begun: JP Morgan Restricts ATM Cash Withdrawals<\/a><\/h3>\n
\n

\"atm-bank-financial-unavailable\"<\/a><\/p>\n

Last month\u00a0All News Pipeline<\/em>\u00a0warned that major banks were\u00a0preparing to tighten the screw<\/a>s on American account holders starting April 1st.<\/p>\n

It appears that the lock-down of cash has begun.<\/p>\n

Citing criminal activity as a factor, JP Morgan is\u00a0limiting cash withdrawals<\/a>\u00a0at ATM machines.<\/p>\n

The bank said there doesn\u2019t appear to be fraud involved. But partly\u00a0due to heightened regulatory scrutiny, banks are paying more attention to large cash transfers that could be a sign of money laundering\u00a0or other types of shady activity<\/strong>. Typically, the card-issuing bank sets withdrawal limits, not the bank owning the ATM.<\/p>\n

The move by the largest bank in the U.S. doesn\u2019t affect J.P. Morgan Chase\u2019s own customers, whose maximum daily withdrawals are set depending on the client\u2019s account type. The bank has seen high-dollar withdrawals at both new and old ATMs, said bank spokeswoman Patricia Wexler.<\/p>\n

J.P. Morgan Chase\u2019s change last month affects roughly 18,000 automated teller machines nationwide and followed an interim step earlier this year limiting noncustomer cash removals at $1,000 per transaction. The earlier move was made as a temporary fix while the bank could make software changes to roll out the more stringent daily limit, Ms. Wexler said.<\/p>\n

She added that the bank \u201cfelt it was prudent to set withdrawal limits on all of our ATMs\u201d after identifying some large cash withdrawals from noncustomers.<\/p><\/blockquote>\n

In 2015 we\u00a0warned readers to divest some of their assets out of bank accounts for this very reason, noting that bank glitches and\u00a0arbitrary holds\u00a0would begin to affect more and more depositors<\/a>. And while the recent move by JP Morgan Chase appears to only affect non-customers, a recent report indicates that the Justice Department\u00a0has advised bank tellers nationwide to\u00a0keep any eye out on cash transactions<\/a>.<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The Lock Down Has Begun: JP Morgan Restricts ATM Cash Withdrawals Last month\u00a0All News Pipeline\u00a0warned that major banks were\u00a0preparing to tighten the screws on American account holders starting April 1st. It appears that the lock-down of cash has begun. Citing criminal activity as a factor, JP Morgan is\u00a0limiting cash withdrawals\u00a0at ATM machines. The bank said […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2,6],"tags":[6191,53,13303,63,1035,2267,6489,536,6490,4927],"class_list":["post-19562","post","type-post","status-publish","format-standard","hentry","category-economics","category-liberty","tag-atm","tag-bank-deposits","tag-bank-withdrawals","tag-banks","tag-cash","tag-jp-morgan","tag-mac-slavo","tag-money","tag-shtfplan-com","tag-war-on-cash"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19562","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=19562"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19562\/revisions"}],"predecessor-version":[{"id":19563,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/19562\/revisions\/19563"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=19562"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=19562"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=19562"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}