Personal Finance

Do bank ask you questions when you withdraw cash over the counter?

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  • Feb 19th, 2019 12:17 pm
Deal Fanatic
Apr 5, 2016
6116 posts
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Calgary/Vancouver
jeff1970 wrote: I think it depends on your relationship with your bank. My current main bank, I can do just about anything and no one would bat an eye. If I used a secondary bank (not my main), I'd be asked questions for sure.

That's the value of being a long term client of a bank and having RRSP's, TFSA's, HISA's, Mortgage, Credit Card, etc., with the same bank and branch. I bolded branch intentionally, because if I went to a Toronto branch and asked to take out, say, $6,000, they'd ask questions.
This is so true. I know all of the staff by first name basis at my main branch and they never ask me questions anymore. In the beginning, they're just building rapport so I always showed my Id when asked and answered all their questions. This also gave me better service as one time way back I accidentally went into overdraft as I wrote a cheque out but forgot to put money in the bank account. The branch manager called me first thing in the morning to notify me so I wouldn't a NSF and bounced cheque. No other bank does this.

Also there's so much fraud going on, the tellers are forced to ask more KYC questions. The bank also covers the amount if it was deemed fraud and it can be a huge amount. Banks aren't going to eat these losses, so they pass them onto the customers in raised fees and higher interest. I rather they ask more questions and suffer little bit of inconvenience than to have expensive bank fees.

And really, if you're just dealing in cash all the time, why need a bank.
Deal Fanatic
Nov 22, 2015
7851 posts
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cocotheparrot wrote: I have been dealing with RBC and TD since 1984. When I try to withdraw 3k to 4k they want two to three days notice. They claim the do not have that kind of cash. In 2016 TD started investigating me for having too much money. This was both funny and insulting. Last year I went to RBC to change the pin on my credit card and they wanted to know all the details of all my accounts and the dates they were opened. I am talking about my RBC DI rrsp, tfsa. margin.
I think these people want attention and they will do anything to get it.

Solution? We need more competition in the banking industry.
cocotheparrot wrote: Four thousand dollars is large? It is my money I can do whatever I want.
cocotheparrot wrote: I went to TD to withdraw $2,100. I inserted my debit Visa which TD forced on to me. I entered my pin. She then asked for I.D. I asked what kind of ID? The teller said Drivers Licence. I told the twenty year old Drivers Licence is for driving not for banking. Put my picture on the Debit Visa. She said Driver's License is not only for driving and further it is for my protection. I informed her "It is not for my protection. It is for the bank." On top of this TD Bank calls me an important customer.

Earlier the same day I called TD and filed a complaint. I am East Indian and everytime I go into the branch or phone them their immigrant employees want to know if I am from India or Kerala. They do not even know me and they are asking personal questions. They also ask if I am related to someone with my last name. Duh. They are constantly violating my boundaries.
You sound like a dick. I see why bank employees don't like dealing with you. I wouldn't be surprised if someone put a note on your account saying something along the lines of "suspicious/rude behaviour, check ID for withdrawals". By the way, $4K is well over the withdrawal authorization limit for most tellers - most banks require valid ID and/or a supervisor override to complete the transaction.

Also, it's definitely true that most branches these days need to order cash in advance for $4-5k. Why not just take it from the ATM for that amount?
Sr. Member
Feb 13, 2008
977 posts
765 upvotes
Edmonton, AB
superfresh89 wrote: You sound like a dick. I see why bank employees don't like dealing with you. I wouldn't be surprised if someone put a note on your account saying something along the lines of "suspicious/rude behaviour, check ID for withdrawals". By the way, $4K is well over the withdrawal authorization limit for most tellers - most banks require valid ID and/or a supervisor override to complete the transaction.

Also, it's definitely true that most branches these days need to order cash in advance for $4-5k. Why not just take it from the ATM for that amount?
Where is the evidence? Why TD bank employees what to know if I am from India? What does that have to do with banking? You have no evidence and you are playing judge.
Sr. Member
Feb 13, 2008
977 posts
765 upvotes
Edmonton, AB
superfresh89 wrote: You sound like a dick. I see why bank employees don't like dealing with you. I wouldn't be surprised if someone put a note on your account saying something along the lines of "suspicious/rude behaviour, check ID for withdrawals". By the way, $4K is well over the withdrawal authorization limit for most tellers - most banks require valid ID and/or a supervisor override to complete the transaction.

Also, it's definitely true that most branches these days need to order cash in advance for $4-5k. Why not just take it from the ATM for that amount?


Do you live on this planet? ATM does not give out $4,000.
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Jun 1, 2006
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cocotheparrot wrote:

Do you live on this planet? ATM does not give out $4,000.
Maximum is $1000 per day. One of my accounts only allow $500 per day and the other $400.
Have a nice day!


Deal Fanatic
Nov 22, 2015
7851 posts
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LonesomeDove wrote:
Maximum is $1000 per day. One of my accounts only allow $500 per day and the other $400.
cocotheparrot wrote: [/b]

Do you live on this planet? ATM does not give out $4,000.
What are you talking about?

ATM limits are different for everybody. You can call in or go see a teller to change your ATM limits. I worked at a teller-less branch for a couple months... Largest ATM withdrawal I've seen was $12k (3 transactions)

You may have to do multiple transactions to get all the cash, as most ATMs are limited to dispensing 40-50 bills at a time. Might take a while on older machines that only dispense 20s.

Most banks have machines that dispense 50 and 100 dollar bills now, they can dispense 2000-5000 in a single transaction.
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Jul 25, 2008
2043 posts
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Ottawa
I had to pay contractor for a asbestos cleanup job. 9k. Our government sin in promoting the industry back in 60, 70s.
Took a few weeks to get them all from ATM.
Deal Fanatic
Apr 5, 2016
6116 posts
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Calgary/Vancouver
superfresh89 wrote: What are you talking about?

ATM limits are different for everybody. You can call in or go see a teller to change your ATM limits. I worked at a teller-less branch for a couple months... Largest ATM withdrawal I've seen was $12k (3 transactions)

You may have to do multiple transactions to get all the cash, as most ATMs are limited to dispensing 40-50 bills at a time. Might take a while on older machines that only dispense 20s.

Most banks have machines that dispense 50 and 100 dollar bills now, they can dispense 2000-5000 in a single transaction.
Based on his attitude, no one will give him a higher ATM limit. Why take the risk on a client that gives little information.
Deal Fanatic
Nov 22, 2015
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cf7777 wrote: I had to pay contractor for a asbestos cleanup job. 9k. Our government sin in promoting the industry back in 60, 70s.
Took a few weeks to get them all from ATM.
Umm.. or you just call and explain the situation, they should be able to bump up your limit temporarily so you can do the withdrawals.
Sr. Member
Feb 13, 2008
977 posts
765 upvotes
Edmonton, AB
After the contractor finished installing my hot water tank he wanted cash. Contractors in the GTA region only accept cash.

Some of you are being too nice to me by calling me 'dick.' I prefered to be called Nihilist and yes I live in Alberta and my income taxes support the rest of Canada.Smiling Face With Open Mouth
Sr. Member
Feb 13, 2008
977 posts
765 upvotes
Edmonton, AB
bomber17 wrote: Based on his attitude, no one will give him a higher ATM limit. Why take the risk on a client that gives little information.
Quit your winning and approve the Trans Mountain pipeline. Those who live in the eastern provinces stop buying oil from terrorist haven Saudi Arabia and support Alberta.
Deal Fanatic
Apr 5, 2016
6116 posts
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Calgary/Vancouver
cocotheparrot wrote: Quit your winning and approve the Trans Mountain pipeline. Those who live in the eastern provinces stop buying oil from terrorist haven Saudi Arabia and support Alberta.
I'm all for the pipeline, ain't a hippie. Maybe you guys should give more incentives to the naysayers.
Deal Addict
Jan 2, 2015
1633 posts
639 upvotes
Toronto, ON
cocotheparrot wrote: Four thousand dollars is large?
Yes. Very few banks carry that amount of cash, and they have to keep cash available for the next customer who wants a lot of cash all at once, too.
It is my money I can do whatever I want.
It is the bank's account, and when you open an account, you agree to conditions on the use of that money. If you don't like it, you can put in a safe, although there's "conditions" there too (no interest growth, risk of theft, risk of fire, difficulty in paying bills, and so forth).
superfresh89 wrote: What are you talking about?

ATM limits are different for everybody. You can call in or go see a teller to change your ATM limits. I worked at a teller-less branch for a couple months... Largest ATM withdrawal I've seen was $12k (3 transactions)
I used to have bad credit and couldn't take out more than $500 out of my bank account. Now I have great credit, but still could not take out $4,000. I'm pretty sure the bank bases this on income, not just your bank rating/credit rating. The OP did not disclose their income in this thread.
cocotheparrot wrote: After the contractor finished installing my hot water tank he wanted cash. Contractors in the GTA region only accept cash.
Factually incorrect. I live in Toronto. I had a water emergency and paid by cheque. (They didn't accept credit cards. I figured if I had to spend that much, at least I could have gotten cashback for that.) They emailed me a detailed receipt which had their GST number on it.
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Mar 10, 2018
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does it matter?
dekvitaly wrote: I have 8 banks acct and CUs in Canada. Plus relative the same or more from the United States.

No need I already planned it all out
I am not sure why you or anyone would need 8 accounts. But that's just me.
"Laws for thee but not for me!" I will keep on jet-setting around the world. Spend as much as I can and enjoy vacations Free at Friends estate. Do as I do not as I say. I used to pay for my vacation until I met my hero.

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