I don't understand what you mean. Most debit cards give you the Routing Number and Account Number so that you can receive deposits as well as spend. Some ATM machines have a cash limit, but if you go into the bank, they have no limits on the amount of cash you can withdraw if they have it. If they don't have it, they will have a truck deliver it and you can get it tomorrow.Niemand wrote: ↑November 27th, 2022, 11:32 amYou're lucky. You wouldn't be able to operate that way in this country.Fred wrote: ↑November 27th, 2022, 11:28 amWhat do banks do now?tmac wrote: ↑November 27th, 2022, 8:31 am From my perspective, this is a big concern. It looks to me, though, like a move to a central digital currency would essentially eliminate the need for a large part of the powerful banking and financial services sector. Am I wrong about that perception? Are they going to go along with that? Why would they go along with it?
I realize that banks, etc., are essentially just money changers in the temple, but what is in it for them with CBDCs?
I haven't had a bank account for over 20 years. Funny thing though, I get my Social Security on a debit card. I have a bill that I want to pay with Money Order, instead. So I go to the bank and withdraw a thousand in cash or whatever I want at the time. If I ask the bank to sell me a money order, they ask if I have an account. I say no and they say no. So I go to the Post Office.
Walmart applied to be a bank but was denied. But they partnered with American Express and offer no fee debit card (Bluebird). You can deposit or withdraw any amount. I go to Walmart and tell the girl I want $3,000 and she says we have a $1000 limit. I say no you don't, I have done it before. She tries and succeeds. Walmart allows anyone to send anyone on earth any amount of money as long as they pick it up at any Walmart. The illegal aliens are lined up every day to send money back home.
What part of this can you not do?