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DCblogger's picture

Citi Group Warns Customers: May Refuse Withdrawals

"Effective April 1, 2010, we reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently exercise this right and have not exercised it in the past, we are required by law to notify you of this change," Citigroup said on statements received by customers all over the country.

What's going on? It seems that this is something of an error. The seven day notice policy only applies to customers in Texas, Ira Stoll reports at The Future of Capitalism. It was accidentally included on customer statements nationwide.

Move Your Money

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jumpjet's picture
Submitted by jumpjet on

Good, that means the campaign is working.

Now it's time for mass withdrawals. Get a bunch of people to move their money on the same day. Make them freak out for a few hours as they think there's going to be a run.

caseyOR's picture
Submitted by caseyOR on

I spent this afternoon researching local credit unions, looking for a place to Move My Money to. I narrowed it down to three. This week will be phone calls and visits. I hope to have my accounts transferred by the end of this month.

I have hardly any money, but it is still too much to entrust to the banksters.

gizzardboy's picture
Submitted by gizzardboy on

I've used the same cedit union for over 40 years, and things are marginally better than banks. Over that time they have built bigger and more grand buildings. I can just imagine what they could have done for the members if they had used the money in better rates. CaseyOR, you might consider a credit union with modest facilities over the more grandiose ones.