Banks asking why I am withdrawing cash pisses me off more than anything on this planet. It's such an incredible invasion of privacy. I just withdrew $8000 to buy a quad from and older guy that wanted cash. Cool, no worries, I do business the same on private sales of my own stuff.
Me "I'd like to withdraw $8000 in cash."
Bank "We need to fill out a form.... what are you withdrawing it for?"
M "What does it matter? I need $8000 please."
B "We need a reason to give you that much cash."
M "Excuse me? Give me? You aren't giving me anything. It is my cash which I pay this institution a monthly fee to store. I don't need to fill out an application form to take out money I have earned and paid taxes on."
B "You can always send an E-transfer or take out a bank draft."
M "I need cash for this transaction, thanks though."
B "Then you need to tell me what it is for."
Eventually the teller got to the branch manager involved. I'd actually dealt with her as a teller many times over the years as I have banked at this institution for 32 years. She's such a nice lady. She just scratched something on the form and gave me my money and apologized. The rationale they gave me was they need to make sure I am not using it for illegal purposes, or being scammed. The scam thing, I sorta get that. A lot of seniors are getting bilked buy scammers in india and Africa, but if I was using the money to buy illegal drugs or guns or tigers... I would be the first guy to just say I'm buying a car or some other big ticket item to get it over with.
I appreciate they backed off, but that being said, I shouldn't have to be a legacy customer to be able to take my money out of the bank without answering intrusive questions.
"I'd prefer not to answer." should suffice and move you onto the next step. I am a 49 year old man, you are a bank, not my parents.
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