I've never heard of notice required for electronic or check withdrawals before. I'm sure its legal, and probably Texas is the state with a regulation requiring disclosure.
Most banks require notice for large cash withdrawals. Typically banks only keep cash on hand for normal business. When a customer wants a large amount of cash, you may need to place a special order for it. As a security measure, most banks will want two employees present out of customer view, like an office, to count it out to the customer. The last thing you want is some opportunistic person knowing a customer just walked out of the bank with 50 grand. Managers are more likely to schedule the withdrawal for off peak hours, this way customer service is least impacted.
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