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Old 09-03-2018, 04:48 AM   #61
Cecil Terwilliger
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Originally Posted by btimbit View Post
People that work in banks or banking aren't human anyway so why would this matter.

Seriously though, its his money, not the banks. It doesn't matter why he needs it, he could be pulling it out to burn, donate to charity, buy drugs, whatever. Doesn't matter.

I've switched banks for less than that. I'd like them to treat me like an adult, not a kid asking for his allowance to blow on candy.
This doesn’t make sense. They didn’t refuse him his money because they don’t trust him with it, they’re closed. If you switched banks everytime you couldn’t have access to more than $5k cash whenever you feel like it, you no doubt keep all your life savings under your mattress.

All banks close. Sometimes for multiple days at a time. No one has access to unlimited cash at all times from their bank.

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Do you just sit in this thread and wait like a ######-hawk to swoop in with a super nitpicky comment?
No. I stand. Sometimes I lay down.

Maybe try not to let simple facts and opinions bother you so much.

All i did is offer a possible reason he can’t have all his money and why it’s probably not the end of the world. It’s unfortunate if that information upsets you. Weird too.

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Old 09-03-2018, 09:09 AM   #62
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Do you just sit in this thread and wait like a ######-hawk to swoop in with a super nitpicky comment?
are you new here? more
usernames than stars above
flip still same ol' flip

Last edited by haiku; 09-03-2018 at 09:13 AM.
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Old 09-03-2018, 09:19 AM   #63
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MEC's change into outdoor goods for the masses RGMG.

Once upon a time, you could count on MEC for being *the* place to go for quality goods at a good price. Either they made it themselves, or the stuff they brought in was the pro level stuff and generally bombproof. They did not suck.

Looking at their hiking shoes selection just now - it's pretty much an identical copy of what's at an Atmosphere / Sport Chek store. No Mammut, Garmont or higher end shoes. Just acres of the same Salomon, Keen, and Merrell shoes that you see everywhere.

You used to be good MEC....now you suck. Why'd you let the corporate types take over? At least REI in the States kept the quality of their goods up.
The worst part is the pricing structure changed in the opposite direction. They now have premium priced outdoor fashion products instead of well priced technical gear.

The MEC branded stuff used to be functionaliy as good for half the cost of Patagonia. Now they charge similar prices to Patagonia and quality is hit and miss. They also now follow the clearance model which leads to the quality issues. Instead of developing good lines of clothes a keeping them the same year over year they put last years stuff on clearance and the new lines are released for the next year at full price. They do this to drive sales instead it causes bugs to never be worked out. They used to market themselves as no sales and rarely had clearance. Now if you are buying things full price you aren’t that smart.

The other thing they abandoned was focusing on function instead of sales. The entire line of packs and sleeping bags is bloated and heavy. And finally expertise is gone with people just parroting marketing now rather than having used the equipment.

If I was building a kit for backpacking from scratch I don’t think i would buy a single item from MEC right now. The one exception might be a neoair but I think you can get that oneale through atmosphere cheaper. Food and Fuel is all I buy from then now.

REI went corporate too but their house brand remained low cost high quality instead of trying to equal the price of Patagonia.
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Old 09-03-2018, 09:25 AM   #64
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Do you just sit in this thread and wait like a ######-hawk to swoop in with a super nitpicky comment?
Every once and a while it needs to be reiterated that this thread does two things

1) A person post a gear grinder to vent
2) The gear grinder is judged by the community if it is valid or not

Without the judgement it’s just a Whiney thread and would suck. The biggest success might be zipper merging where someone complained that a car was budging in the line by going to the end of a closed lane. Debate ensued and over the last 3 or 4 years I think CP has almost 100% acceptance of the zipper.

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Old 09-03-2018, 09:41 AM   #65
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This doesn’t make sense. They didn’t refuse him his money because they don’t trust him with it, they’re closed. If you switched banks everytime you couldn’t have access to more than $5k cash whenever you feel like it, you no doubt keep all your life savings under your mattress.

All banks close. Sometimes for multiple days at a time. No one has access to unlimited cash at all times from their bank.
They're allowed to close. Its limiting his access to his money that annoys me. If he doesn't want withdrawal limits that should be his decision. If it was money he's trying to borrow that's obviously different, but from what he said it sounds like it's his own balance.

Last edited by btimbit; 09-03-2018 at 09:45 AM.
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Old 09-03-2018, 09:59 AM   #66
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They're allowed to close. Its limiting his access to his money that annoys me. If he doesn't want withdrawal limits that should be his decision. If it was money he's trying to borrow that's obviously different, but from what he said it sounds like it's his own balance.
True, buts it’s not without reason or trade off. Nobody says you HAVE to use any specific bank.
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Old 09-03-2018, 10:01 AM   #67
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They're allowed to close. Its limiting his access to his money that annoys me. If he doesn't want withdrawal limits that should be his decision. If it was money he's trying to borrow that's obviously different, but from what he said it sounds like it's his own balance.
Well the limits are in place so accounts can’t get wiped out by scammers. The banks are pretty good with taking the hit when your account is compromised, so the limits also probably mitigate some risk on their end too.
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Old 09-03-2018, 11:11 AM   #68
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Originally Posted by Cecil Terwilliger View Post
No. I stand. Sometimes I lay down.

Maybe try not to let simple facts and opinions bother you so much.

All i did is offer a possible reason he can’t have all his money and why it’s probably not the end of the world. It’s unfortunate if that information upsets you. Weird too.
You're defending banks by saying "think of the employees and their families!". Banks are an entire institution built on just taking other people's money and letting you borrow it for awhile while charging you for the service they get for free. I think if any organization is worth complaining about it's probably the one that's been profiting off society's poverty for centuries.

I guess that makes any driving related gear grinder stupid because when that guy in the lifted truck blows through a red light almost killing you it's justified because little Suzie in the back seat has a tummy ache.

It's ironic because you've been #### posting for years, flip.
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Old 09-03-2018, 11:33 AM   #69
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True, buts it’s not without reason or trade off. Nobody says you HAVE to use any specific bank.
Indeed. That's why I said I've left banks for less. Any bank that dictates when I can or can't access my money isn't one I want to do business with, so I don't

Last edited by btimbit; 09-03-2018 at 12:26 PM. Reason: spelling
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Old 09-03-2018, 01:04 PM   #70
Cecil Terwilliger
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Originally Posted by TheSutterDynasty View Post
You're defending banks by saying "think of the employees and their families!". Banks are an entire institution built on just taking other people's money and letting you borrow it for awhile while charging you for the service they get for free. I think if any organization is worth complaining about it's probably the one that's been profiting off society's poverty for centuries.

I guess that makes any driving related gear grinder stupid because when that guy in the lifted truck blows through a red light almost killing you it's justified because little Suzie in the back seat has a tummy ache.

It's ironic because you've been #### posting for years, flip.
Jesus man, you’re all over the place here and it’s all gibberish. Well, one thing is clear, you have absolutely no idea how financial institutions operate.

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Indeed. That's why I said I've left banks for less. Any bank that dictates when I can or can't access my money isn't one I want to do business with, so I don't
Such a bank doesn’t exist. Banks are heavily regulated. No financial institution in Canada can give you unlimited access to cash with no restrictions.
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Old 09-03-2018, 01:10 PM   #71
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Old 09-03-2018, 01:27 PM   #72
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What the hell ya doin’ with my money in yer house Fred?

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Old 09-03-2018, 01:31 PM   #73
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Originally Posted by Cecil Terwilliger View Post
This doesn’t make sense. They didn’t refuse him his money because they don’t trust him with it, they’re closed. If you switched banks everytime you couldn’t have access to more than $5k cash whenever you feel like it, you no doubt keep all your life savings under your mattress.
I was annoyed, but not surprised, because it's not like they haven't always done this. There's always been a withdrawl limit on ATMs. My issue is, why can I go to, say, best buy and put a $10,000 purchase on my debt card, but I can't take that money out in cash? What the difference? Why have a limit at all, but more importantly, why have a limit that's less than my debit card limit?

As for the bank being closed, I'm sure they could find enough staff who wanted a couple of hours' work to keep at least one branch in the city open for, say, four hours.
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Such a bank doesn’t exist. Banks are heavily regulated. No financial institution in Canada can give you unlimited access to cash with no restrictions.
You know this has nothing to do with banking regulations. It's just their internal policy, and the way banks in general operate. They don't have to do things this way, it's just the way they do things.
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Old 09-03-2018, 01:38 PM   #74
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Such a bank doesn’t exist. Banks are heavily regulated. No financial institution in Canada can give you unlimited access to cash with no restrictions.
Hm, that's weird. I could have sworn my bank does exist
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Old 09-03-2018, 01:42 PM   #75
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Well, it's kinda obvious that if you could take all the money you wanted out of an ATM, some **** who doesn't plan ahead would empty one out just before I went to get $20 to buy my kids food. See, the difference between making a purchase online and getting cash out of a machine is someone has to fill the latter up with bills when it empties.
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Old 09-03-2018, 01:46 PM   #76
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I was annoyed, but not surprised, because it's not like they haven't always done this. There's always been a withdrawl limit on ATMs. My issue is, why can I go to, say, best buy and put a $10,000 purchase on my debt card, but I can't take that money out in cash? What the difference? Why have a limit at all, but more importantly, why have a limit that's less than my debit card limit?
Two reasons for the withdrawal limit, probably:

1. Banks carry a finite amount of cash, so by limiting the amount one can withdraw in a day, they can plan the amount of carry against the most likely amount they’ll have to provide.

2. Should your debit card be stolen, or whatever, the bank is ultimately liable to replace the money. However, if money is stolen through an ATM withdrawal, the bank itself is liable for the entire amount. If, on the other hand, the money is stole through a purchase, the bank (in some cases, not all), can issues a chargeback, meaning the place that accepted the card then pays out the refund which limits the bank’s cost to replace the funds.

Limits are generally not to withhold anything from you, or for some arbitrary reason, they’re to protect all of their customers from fraud.
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Old 09-03-2018, 01:46 PM   #77
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Note that I have no children and they'd have to forage for food themselves if I did.
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Old 09-03-2018, 03:24 PM   #78
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I was annoyed, but not surprised, because it's not like they haven't always done this. There's always been a withdrawl limit on ATMs. My issue is, why can I go to, say, best buy and put a $10,000 purchase on my debt card, but I can't take that money out in cash? What the difference? Why have a limit at all, but more importantly, why have a limit that's less than my debit card limit?
One thing I've heard in the past about the bank's reluctance to allow big cash withdrawals is tax avoidance. If you pay you contractor $15k cash for a kitchen reno, he may be less likely to report the full GST for example.
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Old 09-03-2018, 03:31 PM   #79
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Two reasons for the withdrawal limit, probably:

1. Banks carry a finite amount of cash, so by limiting the amount one can withdraw in a day, they can plan the amount of carry against the most likely amount they’ll have to provide.

2. Should your debit card be stolen, or whatever, the bank is ultimately liable to replace the money. However, if money is stolen through an ATM withdrawal, the bank itself is liable for the entire amount. If, on the other hand, the money is stole through a purchase, the bank (in some cases, not all), can issues a chargeback, meaning the place that accepted the card then pays out the refund which limits the bank’s cost to replace the funds.

Limits are generally not to withhold anything from you, or for some arbitrary reason, they’re to protect all of their customers from fraud.

One of the big reasons behind the in branch withdrawal limit is safety. The bank wants to limit their risk of robbery and minimizes their cash on hand.



Anything over $10,000 and you're most likely going to need to call them ahead of time or go in a day or two before so they can order the cash for you. If you close out an account without notice and with any significant balance, you're not getting cash.
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Old 09-03-2018, 03:40 PM   #80
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One thing I've heard in the past about the bank's reluctance to allow big cash withdrawals is tax avoidance. If you pay you contractor $15k cash for a kitchen reno, he may be less likely to report the full GST for example.

I doubt it, the bank doesn't care about what you're using the money for. They might ask about the source of funds or use of funds when you withdraw $10k+ plus or they suspect structuring, but that is because they are required to report the transaction(s) to FINTRAC. You don't even need to tell them if you don't want to.
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