VERY IMPORTANT - SOMETHING HORRIBLE COMING - See your bank's TOS 11/15/2021 | |
Anonymous Coward User ID: 43544516 Canada 10/13/2021 04:33 PM Report Abusive Post Report Copyright Violation | |
Still
User ID: 80071552 United States 10/13/2021 04:34 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 79847087 United States 10/13/2021 04:36 PM Report Abusive Post Report Copyright Violation | Good lord, people. Read. That Table in Section 5(b) says these are the ACH and wire limits ===IF YOU DO NOT OPT INTO ANY SORT OF SECURITY PROCEDURE FOR THEM TO VERIFY THAT IT WAS YOU SENT THE WIRE/ACH===. Quoting: DirkDigglerOU812 It is right there in footnote #3 of that section. If you agree to get a callback or PIN from the bank on your wire transfers, the limit is (much) higher. Calm down. These low limits are for the "we do not know who you are and you have a new account" customers. People here mistaking consumer protection for tinfoil motives. Banks aren’t psychics. |
Anonymous Coward (OP) User ID: 80134483 United States 10/13/2021 04:42 PM Report Abusive Post Report Copyright Violation | Just thought of this...what if you have a checking account at Company A, but your credit card is with Company B. You now have a limit of $5,000.00 to transfer out on any given transaction...do you need to pay off your credit card in installments throughout the month? |
Anonymous Coward User ID: 80969365 United States 10/13/2021 04:50 PM Report Abusive Post Report Copyright Violation | |
Ken is my real name
User ID: 76649725 United States 10/13/2021 04:55 PM Report Abusive Post Report Copyright Violation | I just received a change in my Terms of Service (TOS) from my bank. DO TAKE THE TIME TO READ THEM!!! As of November 15, 2021 customers will NO LONGER BE ABLE TO WIRE TRANSFER MORE THAN $1,000.00 TO A PERSON OR $5,000.00 TO A COMPANY ON A SINGLE DAY!!! MY BANK IS ONE OF THE LARGEST BANKS IN THE USA! ACH caps going into place! Quoting: Anonymous Coward 80134483 Realize what this means!!! Want to buy a car? Do you actually need a paper check? The new "old" way was ACH. Want to buy a car from somebody trying to sell you a car -how much you want to bet that the car costs more than $1,000.00? Stock market platforms for public use take in amd transfer way more per day, a multitude of times per day. Total choked bottlenecks of data. No way the stock markets can deal with those rules. SHTF right there lol. Ken My personal thoughts & posts are mine alone. I Love God, Jesus, good people, and the U.S.A. the way the Framers signed the Constitution and Bill of Rights. In my real world life I don't have a problem with standing up to those with solid evidence of corruption from either side, of any issue or place. Many are they in this world that need to be rooted out. That makes me a target to be destroyed by very powerful people, I understand this. At some point we have to stand up for what is right before God. I have done this, lived this way, and will continue to do so till they finish me off or I croak of natural causes. |
Ken is my real name
User ID: 76649725 United States 10/13/2021 04:55 PM Report Abusive Post Report Copyright Violation | I just received a change in my Terms of Service (TOS) from my bank. DO TAKE THE TIME TO READ THEM!!! As of November 15, 2021 customers will NO LONGER BE ABLE TO WIRE TRANSFER MORE THAN $1,000.00 TO A PERSON OR $5,000.00 TO A COMPANY ON A SINGLE DAY!!! MY BANK IS ONE OF THE LARGEST BANKS IN THE USA! ACH caps going into place! Quoting: Anonymous Coward 80134483 Realize what this means!!! Want to buy a car? Do you actually need a paper check? The new "old" way was ACH. Want to buy a car from somebody trying to sell you a car -how much you want to bet that the car costs more than $1,000.00? Doubled post lol. Last Edited by Ken is my real name on 10/13/2021 04:56 PM Ken My personal thoughts & posts are mine alone. I Love God, Jesus, good people, and the U.S.A. the way the Framers signed the Constitution and Bill of Rights. In my real world life I don't have a problem with standing up to those with solid evidence of corruption from either side, of any issue or place. Many are they in this world that need to be rooted out. That makes me a target to be destroyed by very powerful people, I understand this. At some point we have to stand up for what is right before God. I have done this, lived this way, and will continue to do so till they finish me off or I croak of natural causes. |
Anonymous Coward User ID: 80999755 10/13/2021 04:58 PM Report Abusive Post Report Copyright Violation | |
Ken is my real name
User ID: 76649725 United States 10/13/2021 05:01 PM Report Abusive Post Report Copyright Violation | That's ridiculous!! Quoting: Fluffy Pancakes What bank are you with? We have a small local bank, but we'll check if they're doing the same thing. Usually represented with 3 letters...the first one is "B"...and it is an American bank ;-) Bank of North Korea? Seriously, local credit union is the way to go. BO ay amerakha. Ken My personal thoughts & posts are mine alone. I Love God, Jesus, good people, and the U.S.A. the way the Framers signed the Constitution and Bill of Rights. In my real world life I don't have a problem with standing up to those with solid evidence of corruption from either side, of any issue or place. Many are they in this world that need to be rooted out. That makes me a target to be destroyed by very powerful people, I understand this. At some point we have to stand up for what is right before God. I have done this, lived this way, and will continue to do so till they finish me off or I croak of natural causes. |
Cardiak
User ID: 73234336 United States 10/13/2021 05:08 PM Report Abusive Post Report Copyright Violation | This may have to do with Bank Of America being forced to disclose their short position on GameStop last month where they disclosed they have millions of GME stock in shorts. GME is about to blow up again and BOA is going bankrupt. Get your money out now before you have to wait months to get fdic insurance payouts when the bank closes its doors this winter. Once GME price rockets to $1,600 or $6,000 or where ever it gets squeezed to next it’s game over for them. They will be forced to liquidate overnight |
Anonymous Coward User ID: 80994043 United States 10/13/2021 05:08 PM Report Abusive Post Report Copyright Violation | |
Judethz
User ID: 79555498 United Kingdom 10/13/2021 05:11 PM Report Abusive Post Report Copyright Violation | |
humbird
User ID: 73158440 United States 10/13/2021 05:18 PM Report Abusive Post Report Copyright Violation | I used to be with SunTrust..they merged with BBT? Or something . now Truist. Already experienced identity theft. Dunno if related. "Aside from the small band of Forteans scattered around the world, nobody seems to notice all aspects of this phantasmagoria." John Keel |
Anonymous Coward User ID: 73342809 United States 10/13/2021 05:21 PM Report Abusive Post Report Copyright Violation | i use ach transfers with my business to routinely send irs the payroll taxes on my employees due every month that is well over $5,000 - it is required - used to be sent a check every month but now done electronically how will irs get their payroll taxes now? |
Anonymous Coward User ID: 80969365 United States 10/13/2021 05:23 PM Report Abusive Post Report Copyright Violation | This may have to do with Bank Of America being forced to disclose their short position on GameStop last month where they disclosed they have millions of GME stock in shorts. GME is about to blow up again and BOA is going bankrupt. Quoting: Cardiak Get your money out now before you have to wait months to get fdic insurance payouts when the bank closes its doors this winter. Once GME price rockets to $1,600 or $6,000 or where ever it gets squeezed to next it’s game over for them. They will be forced to liquidate overnight BofA went bankrupt in 2001. many people, including Jimmy Rodgers, had shorts on what they considered a sure thing. but the Federal Reserve secretly floated all BofA's debt for a year or two and the "surr thing" never came. i remember this because I also one of the true believers waiting for bankruptcy. . |
FightForGod!
User ID: 80146778 United States 10/13/2021 05:28 PM Report Abusive Post Report Copyright Violation | You can check in, but you can't check out. - Bank of America 1 Corinthians 6:9-10 ESV Or do you not know that the unrighteous will not inherit the kingdom of God? Do not be deceived: neither the sexually immoral, nor idolaters, nor adulterers, nor men who practice homosexuality, nor thieves, nor the greedy, nor drunkards, |
Anonymous Coward User ID: 80907801 United States 10/13/2021 05:28 PM Report Abusive Post Report Copyright Violation | Thank you GLP for bringing this to everyone's attention. I checked my email and I too have that same email. I was so worried about it that I went right up to the BOA near me right away. Nobody at the bank knew anything about it, so they had to call the Bank of America hotline which is answered by the same people that answer when a consumer calls. The lady on the other end had no idea either. She assured me that nothing changed but I argued with her...why did I receive an email if nothing changed? Finally, a business banker overheard the conversation and came to help. I think they didn't take me seriously at first because 99% of people coming in there are complaining about their overdraft fees on their 20 dollar accounts. It is, in fact changing to exactly what is written in the email. Here is what I was told. 1. It is CERTAINLY changing for remote wires. As in my business can no longer wire $5000 or more through the online banking. 2. It is CERTAINLY changing to where I can no longer call in a wire transfer over the phone, which I've never done, but this may apply to someone who reads this. 3. It MAY be changing to where you can't even send wires in person more than $5000 (or $1000 for personal accounts). They have not decided this. So, we MAY be able to go to BOA, wait in line behind 20 people whining about overdraft fees for 45 minutes, then fill out the wire transfer paperwork (as the cashier likely fumbles around because they ALWAYS have problems doing anything out of the ordinary). Then an hour later your wire is sent. This will NOT work for me, or most other business owners. If you are sending wires over $5000 dollars almost every day like I do, you really really don't have time to deal with this crap. Here's another thing...PAYROLL! Payroll is done by ACH, which is now limited to $5000 a day too. Let's say your employees are paid 15 dollars an hour. That's only 333 working hours, not considering tax withholdings. So any company using BOA that has more than a handful of employees can no longer process their payrolls. I do wonder what the actual end game is here. BOA will lose a ton of business over this. As a business owner I have absolutely no option but to move to another bank. |
Cozy Gotme
User ID: 80420125 United States 10/13/2021 05:31 PM Report Abusive Post Report Copyright Violation | The "old" TOS is still up on their site. I received an email about the new TOS going into place on 11/15/2021. OP I received this change in terms of service to via email yesterday from same bank For the sake of the dumb ass who put up the BS flag - am I lying? Do the new Terms of Service limit ACH transfers? They know you're not lying. Their function here is to obfuscate the truth. |
Anonymous Coward User ID: 80998810 Egypt 10/13/2021 05:32 PM Report Abusive Post Report Copyright Violation | [link to wset.com (secure)] The Biden Administration's new proposal would have banks submit annual reports on any account with transactions or activity over $600 to the IRS, and lawmakers are divided. "They shouldn't be in our personal lives looting around," said Republican Congressman Ben Cline. Cline called this proposal the height of government invasiveness. "These are law-abiding citizens who have done nothing wrong, so they shouldn't have the IRS in their backyards or bank accounts," Cline said. |
Anonymous Coward User ID: 2893819 United States 10/13/2021 05:32 PM Report Abusive Post Report Copyright Violation | I just received a change in my Terms of Service (TOS) from my bank. DO TAKE THE TIME TO READ THEM!!! As of November 15, 2021 customers will NO LONGER BE ABLE TO WIRE TRANSFER MORE THAN $1,000.00 TO A PERSON OR $5,000.00 TO A COMPANY ON A SINGLE DAY!!! MY BANK IS ONE OF THE LARGEST BANKS IN THE USA! ACH caps going into place! Quoting: Anonymous Coward 80134483 Realize what this means!!! Want to buy a car? Do you actually need a paper check? The new "old" way was ACH. Want to buy a car from somebody trying to sell you a car -how much you want to bet that the car costs more than $1,000.00? Welp...guess I'll have to hoard some cash. Do they want to trigger a bank run? Cash App or VenMo easy peasy. |
Queserasera
User ID: 79846941 United States 10/13/2021 05:36 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward User ID: 58672597 United States 10/13/2021 05:36 PM Report Abusive Post Report Copyright Violation | WOW and if you do day trading or buying cryptos you can not transfer more than $35K a day. So it will take a lot longer to get your money out of the trading platform. I just received a change in my Terms of Service (TOS) from my bank. DO TAKE THE TIME TO READ THEM!!! As of November 15, 2021 customers will NO LONGER BE ABLE TO WIRE TRANSFER MORE THAN $1,000.00 TO A PERSON OR $5,000.00 TO A COMPANY ON A SINGLE DAY!!! MY BANK IS ONE OF THE LARGEST BANKS IN THE USA! ACH caps going into place! Quoting: Anonymous Coward 80134483 Realize what this means!!! Want to buy a car? Do you actually need a paper check? The new "old" way was ACH. Want to buy a car from somebody trying to sell you a car -how much you want to bet that the car costs more than $1,000.00? |
Anonymous Coward User ID: 80969365 United States 10/13/2021 05:37 PM Report Abusive Post Report Copyright Violation | I used to be with SunTrust..they merged with BBT? Or something . now Truist. Already experienced identity theft. Dunno if related. outsourcing and identity theft have a positive correlation. Target's big security breach a few years ago was directly related to outsourcing. . |
Anonymous Coward User ID: 58672597 United States 10/13/2021 05:37 PM Report Abusive Post Report Copyright Violation | |
Anonymous Coward (OP) User ID: 80134483 United States 10/13/2021 05:39 PM Report Abusive Post Report Copyright Violation | Thank you GLP for bringing this to everyone's attention. I checked my email and I too have that same email. Quoting: Anonymous Coward 80907801 I was so worried about it that I went right up to the BOA near me right away. Nobody at the bank knew anything about it, so they had to call the Bank of America hotline which is answered by the same people that answer when a consumer calls. The lady on the other end had no idea either. She assured me that nothing changed but I argued with her...why did I receive an email if nothing changed? Finally, a business banker overheard the conversation and came to help. I think they didn't take me seriously at first because 99% of people coming in there are complaining about their overdraft fees on their 20 dollar accounts. It is, in fact changing to exactly what is written in the email. Here is what I was told. 1. It is CERTAINLY changing for remote wires. As in my business can no longer wire $5000 or more through the online banking. 2. It is CERTAINLY changing to where I can no longer call in a wire transfer over the phone, which I've never done, but this may apply to someone who reads this. 3. It MAY be changing to where you can't even send wires in person more than $5000 (or $1000 for personal accounts). They have not decided this. So, we MAY be able to go to BOA, wait in line behind 20 people whining about overdraft fees for 45 minutes, then fill out the wire transfer paperwork (as the cashier likely fumbles around because they ALWAYS have problems doing anything out of the ordinary). Then an hour later your wire is sent. This will NOT work for me, or most other business owners. If you are sending wires over $5000 dollars almost every day like I do, you really really don't have time to deal with this crap. Here's another thing...PAYROLL! Payroll is done by ACH, which is now limited to $5000 a day too. Let's say your employees are paid 15 dollars an hour. That's only 333 working hours, not considering tax withholdings. So any company using BOA that has more than a handful of employees can no longer process their payrolls. I do wonder what the actual end game is here. BOA will lose a ton of business over this. As a business owner I have absolutely no option but to move to another bank. THANK YOU!!! I knew the impact of this would be huge once I saw it.. I am one of those "dumb asses" who actually reads the changes to my terms of service. Thank you for checking this out. I am hundreds of miles away from my nearest bank branch, so, I could not go there and ask in person! |
Anonymous Coward User ID: 80999113 United States 10/13/2021 05:39 PM Report Abusive Post Report Copyright Violation | That's ridiculous!! Quoting: Fluffy Pancakes What bank are you with? We have a small local bank, but we'll check if they're doing the same thing. Usually represented with 3 letters...the first one is "B"...and it is an American bank ;-) Bank of North Korea? Seriously, local credit union is the way to go. YES! Use a Credit Union rather than a bank. It is shocking to me that there are people here who still havent made the change to a Credit Union yet. |
Anonymous Coward User ID: 58672597 United States 10/13/2021 05:40 PM Report Abusive Post Report Copyright Violation | Really are Credit Unions not subject to these rules? That's ridiculous!! Quoting: Fluffy Pancakes What bank are you with? We have a small local bank, but we'll check if they're doing the same thing. Usually represented with 3 letters...the first one is "B"...and it is an American bank ;-) Bank of North Korea? Seriously, local credit union is the way to go. YES! Use a Credit Union rather than a bank. It is shocking to me that there are people here who still havent made the change to a Credit Union yet. |
Anonymous Coward User ID: 80655894 United States 10/13/2021 05:40 PM Report Abusive Post Report Copyright Violation | I just received a change in my Terms of Service (TOS) from my bank. DO TAKE THE TIME TO READ THEM!!! As of November 15, 2021 customers will NO LONGER BE ABLE TO WIRE TRANSFER MORE THAN $1,000.00 TO A PERSON OR $5,000.00 TO A COMPANY ON A SINGLE DAY!!! MY BANK IS ONE OF THE LARGEST BANKS IN THE USA! ACH caps going into place! Quoting: Anonymous Coward 80134483 Realize what this means!!! Want to buy a car? Do you actually need a paper check? The new "old" way was ACH. Want to buy a car from somebody trying to sell you a car -how much you want to bet that the car costs more than $1,000.00? Sounds like a personal problem. Maybe your a terrorist on a list. I don't have your problem at my bank |
Anonymous Coward User ID: 80969365 United States 10/13/2021 05:40 PM Report Abusive Post Report Copyright Violation | I just received a change in my Terms of Service (TOS) from my bank. DO TAKE THE TIME TO READ THEM!!! As of November 15, 2021 customers will NO LONGER BE ABLE TO WIRE TRANSFER MORE THAN $1,000.00 TO A PERSON OR $5,000.00 TO A COMPANY ON A SINGLE DAY!!! MY BANK IS ONE OF THE LARGEST BANKS IN THE USA! ACH caps going into place! Quoting: Anonymous Coward 80134483 Realize what this means!!! Want to buy a car? Do you actually need a paper check? The new "old" way was ACH. Want to buy a car from somebody trying to sell you a car -how much you want to bet that the car costs more than $1,000.00? Welp...guess I'll have to hoard some cash. Do they want to trigger a bank run? Cash App or VenMo easy peasy. those systems still use ACH although it's cloaked and buffered in the background. essentially they float you a loan on your ACH transaction until it completes or back charge you if it fails. |
Mr.Borg
User ID: 80839685 Brazil 10/13/2021 05:43 PM Report Abusive Post Report Copyright Violation | dude what do you want to buy when you own nothing and are happy? Quoting: Wayne interessierts thats right, soilent green isnt that expensive. And it's happening all over the world. Here in Brazil they have also made this rule. Just don't see who doesn't want to see. The next step is to control transactions based on the "vaccine" passport. They moved Bitcoin operations to the US where the government is more corrupt and now they can block not only banking operations but also crypto. The siege is complete, soon it will not be possible to buy, sell, work or even donate food without being perfectly aligned with the NWO. |