Chase limiting business customers cash activity and international wires

According to this post, Chase has been sending out letters to business customers limiting their cash activity (withdrawals + deposits) and refusing to accept anymore international wires.

Dear Business Customer,

Starting November 17, 2013:

– You will no longer be able to send international wire transfers. You will still be able to send domestic wires and receive both domestic and international wires. We’ll cancel any international wire transfers, including recurring ones, you scheduled to be sent after this date.

– Your cash activity limit for these accounts(s) will be $50,000 per statement cycle, per account. Cash activity is the combined total of cash deposits made at branches, night drops and ATMs and cash withdrawals made at branches (including purchases of money orders) and ATMs.

These changes will help us more effectively manage the risks involved with these types of transactions.

What are they up to?

1 Comment

  • By patty, January 30, 2015 @ 7:40 pm

    Chase needs to shore up cash in accounts to prepare for upcoming Cyprus style bank bail-in and bank holidays. You will be considered a debtor and don’t be shocked at losing 80% of your money….see it’s coming and almost here. Patty

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