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For real? CitiBank institutes 7 day notice for withdrawals from all checking accounts!

Submitted by samadamscw on Sun, 02/21/2010 - 16:19
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Found this via a Rense.com link.

http://snardfarker.ning.com/profiles/blogs/time-to-leave-cit...

"Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change."

It's a blog, with no other corroboration. Anyone received one of these notices?

Apparently this notice only applies to Texas customers, but was inadvertently sent out nationwide.

Of course this still begs many questions. Why the need for the waiting period at all? Why 7 days? Why Texas?

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I got one

Submitted by Misfit4Peace on Wed, 04/21/2010 - 08:15.

over 6mths ago...And I dont live in Tx and I have never banked with them. I did however write a check to a friend once..for just something like 20.00..and they cashed it at a Citibank. Two weeks later..I got the notice..in my email..(my checks dont show my email address)..I just dismissed it at the time as a scam.

—

I believe in Hope & Change..I Hope the government will Change
Spindale-Rutherford County-North Carolina

Gee...What happened to that money you deposited???

Submitted by pawnstorm12 on Wed, 04/21/2010 - 07:57.

Can you say "FRACTIONAL RESERVE BANKING???"

There are 2 types of deposits;

1. Demand Deposits such as checking and savings accounts--where the money should be READILY AVAILABLE AT ALL TIMES for you to withdraw and

2. Time Deposits such as CD's where the money is tied up for a certain amount of time.

ONLY THIS 2nd type of deposit can morally be loaned out--just as long as at maturity, your money is BACK and available to you for withdrawal.

If all banking was done this way, there would never be a "run" on banks AND there would be NO NEED for a central bank like the Federal Reserve System.

The only reason for a central bank (acting as "Lender of Last Resort") is to allow for IMMORAL BANKING PRACTICES so that when the system fails, it can be rescued with TAX-PAYER DOLLARS, muscled from the citizens by the power vested in the central bank.

—

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

Argentina's Recent History - Advance Warning

Submitted by jhanders on Tue, 02/23/2010 - 20:34.

http://blog.goldsilver.com/

Check out this awesome info on why Silver and Gold make sense for everyone as a hedge!!!

Un saludo a todos,

—

"Freedom on this Earth can only be found within oneself. All the power you'll need is inside - embedded within you."

Excellent blog post, I look

Submitted by johnsmith123 on Wed, 04/21/2010 - 01:47.

Excellent blog post, I look forward to reading more.

Regards,
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I'm with ya. I haven't used banks for over 15 years.

Submitted by samadamscw on Tue, 02/23/2010 - 21:30.

I have no intention to start now.

Good ole Jeff Rense. Why not just tell the truth?

Submitted by MikeLawson on Mon, 02/22/2010 - 16:17.

He and Sorcha Faal should join forces.

—

Explore Orthodox Christianity

Alternative to banks

Submitted by Black Ops on Mon, 02/22/2010 - 16:05.

A few years ago I had a Commercial quality alarm installed on my home. It has contacts on all the windows and doors and a cell phone and battery back up.

I also bought a Dick Cheney style "man size" safe that weighs 500lbs empty. Took 3 of us with a hand dolly to move into my home. I then bolted the safe to the floor and it is full of heavy stuff making the safe weigh about 1000lbs.

The police response time in my area is less than 10 minutes.

I DON"T NEED NO STINKIN BANK.

if you're gonna ditch their

Submitted by RustySanchez on Wed, 04/21/2010 - 02:40.

if you're gonna ditch their banking system, might as well ditch their currency too.

a safe full of gold is better than a bank full of cash any day.

—

I am out of touch with most Americans precisely because I am not out of touch with reality.

Useful info. Hope to see more

Submitted by johnsmith123 on Wed, 04/21/2010 - 01:48.

Useful info. Hope to see more good posts in the future.

Thanks,
car finance

Me neither

Submitted by samadamscw on Tue, 02/23/2010 - 21:32.

I haven't used one in 15 years.

I just thought this was interesting.

Brilliant post mate, keep up

Submitted by bhkcs1123 on Wed, 04/21/2010 - 04:26.

Brilliant post mate, keep up the good work

Thanks,
commercial finance

April 1st huh?

Submitted by poq on Sun, 02/21/2010 - 20:04.

.

Already been happening

Submitted by dmarie340 on Sun, 02/21/2010 - 18:11.

i have had personal experience at attempting to withdraw a substantial amount from our checking account in September, 2008. I was told by our small-town bank that it would take 2 weeks for them to release the money. Of course, I was angered by this, and asked them why "our money" couldn't be returned to us before that. They informed me that they would first have to request it from the Federal Reserve, and it takes that much time for that large amount. Actually, it took us almost a month to get it, and when we picked up the cash, we were treated like criminals, and I jokingly asked if there were explosive dyes in the bag. . . Other family members had similar experiences during that same time period at other banks. Four different people from that small bank called me to attempt to dissuade our decision to take the cash, one even mentioned that she hoped we were not going to "hide it under the mattress". I suspect this is happening a lot more than anyone imagines!

—

"Nothing is as it appears; everything is smoke and mirrors"

Why didn’t I find this post

Submitted by bhkcs1123 on Wed, 04/21/2010 - 04:26.

Why didn’t I find this post earlier? Keep up the good work!

Regards,
mortgage brokers Melbourne

There is a big difference here...

Submitted by FLhomeschoolingMommy on Mon, 02/22/2010 - 15:47.

For who knows how long, they have been able to legally do this after a specified sum has been reached in 24 hours. Usually around 2,000 and about $600 at the ATM. Even then you could usually go into the bank and 'prove' you are who you say you are and get your money. Its just there to 'protect' you of course! You would'nt want a thief to be able to clean out your account in one fell swoop would you? lol. But NOTICE they did not specify any amount... Now they just blatenly state "We have the right to refuse to give you YOUR money any time we wish!"
This is why I DO NOT have a bank account and if I did, I would choose a local bank not a Federal.

I remember back in the mid-1970's going to the bank and......

Submitted by DeMolay on Sun, 02/21/2010 - 17:19.

.......trying to take some money out, and they said "no". Told them I had to pay rent, and they said that they would be willing to write a letter to the landlord.

All they are doing is getting ready for the coming run on the banks.

gotta get ready to tighten

Submitted by HonorGod on Sun, 02/21/2010 - 17:11.

gotta get ready to tighten the noose if on 2 Mar Texans decide to:

1) throw the govna out with a govness :o)
or
2) force a run-off of the current govna

—

http://www.rxforliberty.com/10/
Cedar Park, Texas

5 Aug 2007

follow this link for

Submitted by adap2k on Sun, 02/21/2010 - 16:48.

follow this link for Citibank's release:
http://market-ticker.denninger.net/uploads/2010/Feb/citi.png

—

"Ron Paul For President 2012" on 12160
http://12160.info/group/ronpaulforpresident2012
.

http://twitter.com/12160mhz
.

Oh boy.

Submitted by pawnstorm12 on Sun, 02/21/2010 - 16:48.

If there is anything to this it confirms that fractional reserve banking is failing.

—

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul