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lord_casek

Citibank customers: ALERT

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"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."

 

lHRIZ.png

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ZOMG NEW WORLD ORDER!

 

 

Nah, it's a crumby bank trying to prevent bank runs by holding

your money as if it were their property.

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Is this like a PATRIOT Act type thing or something?

Or in case their share price nosedives?

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Is this like a PATRIOT Act type thing or something?

Or in case their share price nosedives?

 

 

Looks like their doing pretty shitty and trying to keep a bank run from happening.

It also benefits them on the books, as they get to keep funds in their bank for a longer

amount of time.

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Guest Ginger Bread Man

this sucks.

 

ive had a citi account for a good 7 years now and never had a problem besides being charged 3% in foreign withdrawl fees on top of the currency exchange rate.

 

this though. sucks

sad face oner over here.

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Why is there going to be a run on Citibank?

 

Also, can you point me towards where you found out that they will be enforcing this as of April.

 

Off the top of my head I can't recall when they said that they were going to possibly bail out Greece, let me check.

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Greece has to come up with at least 22 billion euros before June, since around 11 billion euros are being redeemed (repayment of debt principal) in April and May, respectively. Yet unfortunately for them they are running at a massive budget of about 13%.

 

Only reason I can see in the near future that there will be a run on any major bank. Maybe they're worried about a Euro contagion.

 

There are only rumours of a bail out by the EU. But if I remember correctly bail outs aren't supposed to happen as per the Lisbon Treaty.

 

 

 

Fucked if I know why they would do this but I don't care because I don't bank with them!

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Why is there going to be a run on Citibank?

 

Also, can you point me towards where you found out that they will be enforcing this as of April.

 

Off the top of my head I can't recall when they said that they were going to possibly bail out Greece, let me check.

 

 

Every Citibank customer got a letter with this on it.

 

Also:

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=abdG5GkMSWfA&pos=5

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i hope i'm safe in my little credit union.....

 

only credit i currently have is my mortgage but it got bought by bank of america. this world is F U C K E D

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i hope i'm safe in my little credit union.....

 

only credit i currently have is my mortgage but it got bought by bank of america. this world is F U C K E D

 

 

Local credit unions are great places to keep your money.

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They're only saying that they have the OPTION of doing this if you don't meet the requirements listed below. Not every single person is going to have to wait 7 days....

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Basically, this is nothing new. They don't have to give you any money if you don't have the fucking funds available...

 

Plain and simple.

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I would also GUARANTEE that CHase, BofA, Wells Fargo, and any other bank has the same "small print" to excuse them if you don't have your shit in order.

 

It's really not that big of a deal.

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Every Citibank customer got a letter with this on it.

 

Also:

 

http://www.bloomberg.com/apps/news?pid=20601087&sid=abdG5GkMSWfA&pos=5

 

That article has absolutely nothing in it that indicates that there would be a run on Citi accounts. Secondly and something that should have been obvious to me before, if they were trying to protect against a run, a) it would not be only one type of account, it would be most, b) you would already see evidence of an exodus of ownership capital (and that article you posted says the exact opposite), and c) I'd even hazard a guess that a bank can't unilaterally keep your money like that. It's usually governments that prevent access to accounts, like we see in Venezuela, Argentina, etc.

 

Finally, withholding for 7 days wouldn't stop a run anyway.

 

I agree with ClueTwo, this has nothing to do with a run on accounts nor is it a nasty bank treating your money as if it were their property.

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Way to go Casek. Now everybody's finna leave Citibank and bankrupt this shit AGAIN, taking my money with it.

 

really tho this is nothing new. Citibank sucks and they've blocked me from using my debit card to buy a candybar because i was "outside of my usual purchase area." 5 minutes of talking on a phone before they OK'd my abba zabba.

 

Bitches be crazy.

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Fuck a bank dude -I rock a credit union and have never had any bullshit happen to me.

credit unions versus banks. yeah thats smart, because a credit union isn't a greedy institution capable of seizing your money in a crisis.

 

but your name is gucci condom. so either your statement was ironic or you spend your money like a nigger anyways. /nohatejustsaying

 

 

 

seriously, fuck banks. fuck overdraft fees as a "feature". fuck the fact that my bank won't allow me to opt out of that gay ass feature. and finally, fuck not having money. on the bright side i get UI benefits now. so fuck yeah for free money!

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