Can I withdraw my entire account from a bank?

[nym9]

What is the name of your state? NY

In regards to a cash withdrawl of my entire bank account, I would like to know if banks have any obligations and what my rights are.

Must banks do this immediately, regardless of what the amount is, or can they have reasons for declining? Do I have to notify them in advance if it is a large amount?

 

[Veronica1228]

What is the name of your state? NY

In regards to a cash withdrawl of my entire bank account, I would like to know if banks have any obligations and what my rights are.

Must banks do this immediately, regardless of what the amount is, or can they have reasons for declining? Do I have to notify them in advance if it is a large amount?

You can at anytime withdraw your entire balance and receive cash or a cashier's check. This will not include, however, any outstanding debit card purchases or other transactions.

Most banks only have each teller window stocked with a limited amount of cash for security reasons. If you are going to be requesting more that $2,000 in cash, I recommend you call first. I, of course, urge against it for your own safety. Getting a cashier's check would be a better idea, but it is up to you.

 

[nym9]

You can at anytime withdraw your entire balance and receive cash or a cashier's check. This will not include, however, any outstanding debit card purchases or other transactions.

Most banks only have each teller window stocked with a limited amount of cash for security reasons. If you are going to be requesting more that $2,000 in cash, I recommend you call first. I, of course, urge against it for your own safety. Getting a cashier's check would be a better idea, but it is up to you.

What if they don't have the cash onhand? A cashiers check would just have to be cashed somewhere else to get the cash. Thanks.

 

[Veronica1228]

What if they don't have the cash onhand? A cashiers check would just have to be cashed somewhere else to get the cash. Thanks.

That is why you should call ahead. That should give them enough time to get the cash needed to comply with your request.

 

[nym9]

That is why you should call ahead. That should give them enough time to get the cash needed to comply with your request.

So there are situations when the bank may not be able to liquidate an account, that was what I was asking.

Are there any regulations as per the time-frame required to do so, after I notify them in advance? Probably only takes a day though...

 

[Veronica1228]

So there are situations when the bank may not be able to liquidate an account, that was what I was asking.

Are there any regulations as per the time-frame required to do so, after I notify them in advance? Probably only takes a day though...

Not for giving you cash, no. You have to give them a reasonable amount of time to get the cash needed. Some branches have cash delivered on a daily basis from a main vault rather than keeping it on hand for security reasons. Otherwise, they can give you a cashier's check at a moment's notice.