Quote:
Originally Posted by seabass
There are security reasons why no $1000 note withdrawal from the ATM. This control is primarily in placed to protect the depositors. Too many scams and imagine the poor old people being hook winked into parting with their life savings. The second is money laundry rules issued by the authorities. This is to prevent ah Long and love scam from using bank accounts for their illicit, usually cross borders activities. I rolled eye at the teller when I did one OTC transaction. He asked me why I want to withdraw MY money and if it is for purpose outside of Sg. I just gave him a fake reason and no more questions liao.
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bro - thanks...I always tell the bank teller one of these reasons...
1. Keep in safe boxes
2. Buy gold or silver
3. Pass to kids for their holidays in Malaysia, Korea, Thailand.
all the answers will be noted down when I withdraw 1k notes...
a friend of mine working in Citibank got more hell questions when he withdraw 1k notes at his own working bank...