Capital control in action, does cyprus ring a bell

[manfred]

edit: and this

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[LiteCoinGuy]

yea, heard of that too. but if this is only one bank writing that, capital controls are not possible.

dont think that will happen.

[scatha]

"Only one", but perhaps the world's most influential one. *sigh*

[btceic]

"Only one", but perhaps the world's most influential one. *sigh*

It only ever starts with just one....

[LiteCoinGuy]

i not say that this will never happen... 

[bg002h]

Surely this is commonplace, no?  I mean, if they get burned with a reversed transaction at some point, they scale back business until risk/benefit ratio changes...is there really no precedent for this with other institutions?

[murraypaul]

They are just trying to upsell to the more expensive business accounts, which do allow for international wires.

[Aswan]

Yesterday I got a letter from my bank (German bank) telling me they would reduce the amount I can send from 25000€ to 5000€. My gf who is at another bank got her limit reduced to 2000€ 2-3 weeks ago. They say one can manually increase it by calling them but this increase is only a temporary thing then.... idk what to think about it =/

[ShadowOfHarbringer]

Yesterday I got a letter from my bank (German bank) telling me they would reduce the amount I can send from 25000€ to 5000€. My gf who is at another bank for her limit reduced to 2000€ 2-3 weeks ago. They they one can manually increase it by calling them but this increase is only a temporary thing then.... idk what to think about it =/

This may be some serious shit.
I am pushing this to another forum.

© 2013 JPMorgan Chase & Co.

Hm, the name rings a bell BTW.

If they are making moves like this, something may be in the air.

[Aswan]

Yeah I don't know it's not just the 2 of us (me and my gf). I just asked some people and they got letters regarding the limit reduction as well within the last few weeks =/

[Maciek]

"Cyprus"?
Again?

[LiteCoinGuy]

"Cyprus"?
Again?

someday? yes!

[klaus]

"Cyprus"?
Again?

in Slovenia http://www.telegraph.co.uk/news/worldnews/europe/slovenia/10309237/Slovenia-The-next-crisis-for-the-EU.html

[FeedbackLoop]

Relax. When all the new ever accelerating debt of the governments throughout the world hits the inflation machine at banks, the old limits will come back as they will be worth as much as the new limits. Bank run prevented! 

 

[justusranvier]

The pattern appears to be that large national banks (HSBC and Chase so far) are limiting access to international wires, and small banks and credit unions are eliminating them entirely:

https://online.1stnb.com/LoginAdv.aspx
https://www.uhcu.org/Site-Alerts/Member-Notification

[knight22]

Now soon in theaters!  CYPRUS 2

[MAbtc]

I wonder.... being a US citizen, and having my income and assets tied to USD.... and also being heavily invested in bitcoin.... this makes for a very interesting internal dynamic for me.

[trilightzone.org]

Yesterday I got a letter from my bank (German bank) telling me they would reduce the amount I can send from 25000€ to 5000€. My gf who is at another bank got her limit reduced to 2000€ 2-3 weeks ago. They say one can manually increase it by calling them but this increase is only a temporary thing then.... idk what to think about it =/

This is going on for a few years already when it started with limiting cash transactions in several countries. Not surprised if banks are busy also lowering limits for accountholders in most of the developed world. This might have to do with new rules to increase their buffers but also to prepare for a SHTF scenario. Although in that case the 0's and 1's won't matter much anymore ...