The answer he should have given was to change his request to close the account, taking the maximum daily counter limit in cash and the rest in a cashier’s check.
Would be nice to know what bank this was but it is not mentioned but if I had to guess it’s Bank of America based on the occupation question. I got a letter from them asking for that info and warning that they would close the credit card if my information were not complete by such and such date (a month away). So I called them up and cancelled the card.
“The answer he should have given was to change his request to close the account, taking the maximum daily counter limit in cash and the rest in a cashier’s check.”
Nothing wrong with closing the country, but the problem is that doing so is only a symbolic action to a bank, regardless of how big the account is (unless you’re a billionaire or something). Also, almost for sure, someone is looking over their shoulder, so what would have some teeth is working to get privacy legislation passed so that crap ends.
The answer he should have given was to change his request to close the account, taking the maximum daily counter limit in cash and the rest in a cashier’s check
^^^^This, It would have been precisely 1 nano second before I did just that. When people stop letting these asshats walk all over them this crap will end. But then again there’s a distinct lack of gonads anymore in this country.
The actions of this customer were suspicious. Possible Money Placement and Laundering. The bank must submit a CTR.
Go ahead and close your account at that bank. Just know that every other bank in the country is required to follow the same government regulations.