Quote:
Originally Posted by _Richard_
yes, nothing to see here, move along folks
any wires over 10k for canada now has to be 'approved'. all tied in to terrorism laws.
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Not true. I have wires coming and going over $10k throughout the month every month and have never had an issue.
That said, I went through all of the Q&A when I set up my account and they asked about how you were going to use it, the wires, amounts, etc.. Basically all of the 'know your customer crap'. I keep my bank informed about my business dealing when they ask, and have never had any major problems to date. As long as they know what's going on, you do not get hassled most of the time. It doesn't mean I do not get an occasional call, but I just tell them what's up, and I'm off the phone in 2 minutes.
All that considered, if any one bank becomes too much of a hassle, I am sure there are plenty of local credit unions and smaller banks who would be overjoyed for me to move my business banking to them. While it's an annoying hassle to move your banking, at the same time it's a one time hassle versus a daily or monthly hassle if they are playing silly reindeer games with my accounts. I can simply choose to move my money somewhere else where I am appreciated.