Niko on Nostr: Your money in the bank isn’t your money. I always knew this, but today I really ...

Your money in the bank isn’t your money. I always knew this, but today I really experienced this. I went to the local branch for my bank in person to make 3 wire payments for a large amount. I provided my ID, and authenticated into the account with a text to my phone. After asking me where the money came from, what it was for and where it was going, the bank refused to send my wires, even though one of the transfers was to an account in my name at another bank! The reason was simply “Because I don’t know you and it’s a large wire transfer”.

Do I need to take the branch manager out to dinner to get to know them before I’m allowed to move my own money? If you verify my ID, see me in person, and authenticate to my device, what else do you need!!

It’s always all in the name of safety and security though.