‘We have to ask you’: TD Bank customer tries to pull out $3,000. Then worker asks him something
This bank customer thought it was suspicious when the bank worker started asking questions about his money. Turns out, there's a valid reason.
When you need to withdraw your own money in a hurry, you can usually count on ATMs, whether it be the one at your local gas station or the bank's.
Every bank has its own limits when it comes to how much money you can withdraw from its ATM each day. For example, Bank of America allows a withdrawal of up to $1,000 in a day, while Chase has a limit as high as $3,000 on some accounts.
This can also vary if you're withdrawing from an independent ATM versus the one at the bank.
But if you need to take out a large sum of money, say, more than $1,000, You'll likely need to go to your local bank and make the transaction with a teller.
When going this route, most people know to expect that it'll be a longer process between the time in line and having to fill out a withdrawal slip.
But what is unexpected is that the bank worker may ask you intrusive questions about what you'll be doing with your recently withdrawn cash.
Why is your bank being nosy?
In a viral video with more than 188,000 views, video game TikToker @bithead1000 shared a recent experience he had at the bank.
"Guys, you have to be really careful out there," he warns in the clip.
The gamer explains that he went to withdraw $3,000 at TD Bank, and despite being the only customer there, they had him waiting for 15 minutes.
When they did come back for him, they had to send verification messages to his phone and ask for his license to verify it was him accessing the money in the account. "That's all fine with me," he says.
But when the bank worker went to hand him the money, and @bithead1000 reached for it, the guy pulled it back.
"We have to ask you what you're gonna use this money for," the man asked him.
"I started laughing," @bithead1000 recalls. "... I ain't got nothing to hide."
@bithead1000 tells viewers that his wife has a big family, and they'll be hosting Christmas at their house, so the money is going toward food and drinks for the festivities.
But he didn't say all that to the TD Bank worker. Instead, he told the bank worker that he'd rather not say what the money was for.
Another worker came out and told @bithead1000 that they have to ask.
"I ain't got nothing to hide, but this is just a principle thing," @bithead1000 said.
Again, he declined to answer.
Then a third worker came out, finally giving @bithead1000 his money.
"Guys, I don't trust these banks one bit anymore. I tell you, I'm taking my money out. That's it, I don't know what to do," the TikToker says.
Can banks do that?
In short, they can and sometimes they should, like in these situations:
- Large transactions: If a person takes out $10,000 or more in a day, the bank is required to fill out a form and report it to the Financial Crimes Enforcement Network (FinCEN). This is done as part of anti-money laundering efforts to help stop money from being used for illicit or unregulated activities.
- Protect from scams: If a person withdraws a large sum of money, a bank worker may ask what it's for to help protect customers from common scams or to give them a reason to ask for help.
TD Banks specifically may be cracking down on its processes after reaching a historic $3 billion settlement in which they pleaded guilty to conspiracy to commit money laundering, AP News reported.
“TD Bank created an environment that allowed financial crime to flourish,” Attorney General Merrick Garland said in a press conference. “By making its services convenient for criminals, it became one.”
Commenters react
"I would say I'm using this money to open an account at a different bank and would like to take the rest of my money as well," the top comment read.
"It's none of their business. It's your money," a person said.
"They ask because so many people are getting scammed. They wanna make sure you’re not being pressured to take the cash, they’re giving you an opportunity to ask for help" another wrote.
"It has nothing to do with the bank, it's probably some regulations regarding money laundering," a comment pointed out.
@bithead1000 TD bank is shaking me down for my money!!!!
♬ original sound - BitHead1000
The Daily Dot reached out to @bithead1000 for comment via direct message and comment and to TD Bank via email.
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