Why is it used to be hard to withdraw money from the bank after saving?

[Mataracy]

Bank can be describe or define as a place where money and some other valuable thing is kept . It is a place where valuable things is kept so that it will not get lost or kept until when some one need it or want to use it.
Bur this days I notice that when one save in the bank and its now come to the time to make withdraw some times it become so hard to withdraw especially if the amount is more than what you can withdraw from ATM (Automated Teller Machine).
Some time this same bank that collected the money from you without any network problem but when you are about to withdraw they will now started saying that there is network problem.
Please;what could make them to be doing that?

 

[sincerem]

I wonder what you're saying, because bank that I am using, aren't hard for withdrawal. You can pull through your savings and withdraw it immediately unless you're talking about locking your funds in fixed deposit account. Or your ATM daily withdrawal limit of transaction is exceeded. This are some of the reasons why you aren't allowed to withdraw your funds from the ATM machine at the first instance. I have different banks, I always check their ATM limit of transaction before going to make large sun of money withdrawal. And again, ATM card aren't meant to be used to withdraw large sum of money, it should be a card issued to the account owner, whenever he or she is in emergency needs of money. I don't withdraw large amount with ATM card, I take money I can use for personal needs, and for pocket money too when their is need for it. This days, I have been working with cashless policies, I don't go to banks or ATM machine to command withdrawals, I do transactions online, sell airtime and data to receive cash in order to keep as pocket money. At times too, I sell coins for physical cash when I need it.

 

[Kendy]

Well, I do not really understand the point you are trying to make but if I understand you clearly, you always encounter problems or challenges when it comes to the point of withdrawal and when you complain to your financial institution, they blame it on network issues. You have also complained that at times, when the money you want to withdraw is high, that you would be restricted. Well, there are similar cases I have faced when it comes to withdrawing money from the ATM and at times, they would give me a feedback saying, "reposition yourself." I do not really understand also and when I report to the bank, I would be told that it is either I had changed my pin or it is network issues and true to it, it was network issues because I had never changed my pin. This is the more reason I do not like anyone sending me on errands to help them withdraw money incase of anything that happens.

Also, yes, there is a limit to what you can withdraw at the ATM point and it is even for your security as well. In such cases, you have to go to the bank and opt for withdrawal slip.

 

[TOZZIBLINKZ]

That is definitely the main reason why bank are being created so as to restrict an individual's ability to spend money . that is why it is advised for individuals to save your money in banks rather than saving it in a saving box at home . send money in banks to restrict an individual's individuals ability to spend his or her money . this is because you do not have the money in your position rather you have the money in possession of individuals who are in the bank is taking care of individuals cash and money . and in order for you to get the money you have to pass through some sort of stress to go to the bank except permitted by your body .

Another reason why it is advised to save money in the bank is that you also provide some sort of security by saving your money and the bank but if you see the money at home you put your money at risk or in a vulnerable state of making it stolen by unauthorised individuals or making it prone to getting lost or mis tempered . Money is a very valuable to and must be used sensibly and wisely . And these include keeping and saving money in the right and proper place

 

[Shigobad2020]

To some people , going to the bank to make withdrawal after saving in their account is always difficult and to some people , they find going to the bank very easy and convinient .

The first reason why its hard to withdraw after saving in the bank most especially in my country is the issue of the banking hall been crowded with customers , and sometimes you might not have enough time to spare on the quene waiting for yiur tirn to withdraw most especially people working at the office and the banks don't normally opened in the weekend , so withdrawing money during the week is a problem for them,

Secondly , the distance between my home to my bank is very far and the money I am using as transport fee is enough for me to make transaction with POS using my card in my neighbourhood to make withdrawal rather than wasting time and money.

 

[Augusta]

i have noticed that banks most of the time dont deposit money into the ATM machine to dispense and other is that they are always bank being out of service sometimes.

For me I think first that they might also be out of cash to dispense. especially now that you can't withdraw in the banking hall if you are taking money that is less than a thousand dollars. They do give out this monies as loan to others so they might be buying time to be a le to retrieve the money from the borrower to be able to make the needed payment.

But this days I think they do this so that one can withdraw from the POS vendors so that they can also make their own commission, I read that the banks charge the POS business per withdraw made by a customer. So it boils down to them doing business at the end of the day.

 

[Ajebo25]

I don't have a bank account yet but I still don't understand what you're saying because you can always withdraw your money from the bank after saving the money all you just need to make sure is that your money is in a legit bank not an online bank that can crash and run away with your money.

Some banks needs you to be at a minimum balance before they can pay you back your savings and they might not tell you this, you will just be thinking that the bank is trying to fraud you of your money not knowing that you're the one who hasn't reached the minimum withdrawal the best thing for you is to check the bank and ask them full details before saving your money with them or else you will be lost in the process and you won't want that to happen.

 

[btaliat]

In actual sense, this claim many not be generalized. There are some banks that have fast service provider. They don't delay anything that you want to do with them. You don't need to waste your time. But I won't deny the fact that I understand your claim have some banks that will not eben attend to their customers on time when it comes to making withdrawal.

I have been into a bank to make some deposit and in the midst of attending to me, there was a distruption in the service. I was shocked when they still collected all the money meant to be deposited. We were told the money will be posted once there was a good network.

In contrary, if it had been that we wanted to withdraw, we may not have any choice than to come back when tnr network was okay. No I won't blame them, it may a way of securing the ways people spend money..


The problem that this has caused has been solved by the introduction of point of sale service. They make sure you collect your money even if there is difficulty in withdrawing your with your banks. Though, they will charge you for this.