Alert: Will Banks requiring 7 day notice to make withdrawals?

My job is to stay in touch what is happening out in the credit and financial world, I recently sent the article by close friend, and found it quite interesting. I think it’s good think to keep an eye on or at least beware…

Your friend,
Carlos Samaniego

Article from http://www.preparednesspro.com

Given my heightened awareness in the last couple of years regarding a financial collapse in the U.S. (and subsequently the world) I took sharp notice of this article that I came across today.

Citigroup has notified all of its account holders that as of April 1, 2010 that they will require 7 days notice of any withdrawals from checking accounts!  I suspect that this will not be the only instance and that other banks will follow. Also, expect slower payments on debit and check transactions.

Mind you Citigroup claims that they have no intention of enforcing this new policy, but that they were required by federal law to disclose it.  Yeah, right. Sorry, not buying that. I see it as a blatant defensive move.  As such I strongly encourage people to put a high priority on getting their bills paid three months in advance, and having $500 in small bills handy.

The article is here: http://www.prisonplanet.com/citigroup-warns-customers-it-may-refuse-to-allow-withdrawals.html

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