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Visa Could Ruin the Internet (youtu.be)

submitted 5 days ago by ratrace@lemmy.zip to c/privacy@programming.dev

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What if you woke up tomorrow and completely lost access to your bank account, credit cards, PayPal, and Venmo, all because of something you posted online?

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[–] IceFoxX@lemmy.world 3 points 4 days ago (1 children)

I've only ever seen that happen when using an ATM that belongs to a different bank

[–] quick_snail@feddit.nl 2 points 4 days ago (1 children)

Also ATMs have max withdrawals. And if you want to take a larger amount from a human at the window, there's a fee for that too.

[–] IceFoxX@lemmy.world 1 points 4 days ago (1 children)

ATMs have fixed limits due to anti-money laundering laws. I’ve never been charged a fee for withdrawing cash at the counter. If you want to withdraw larger amounts, you just have to notify them in advance because of the legal requirements, but I’ve never been charged for it. At Sparkasse, though, I could imagine that might be the case.

[–] quick_snail@feddit.nl 1 points 4 days ago* (last edited 4 days ago)

AML laws don't limit cash limits on atm machines.

There's literally zero legal risk of money laundering with cash that comes out of an ATM. It's already coming from a trusted source (the bank).

AML risk is when you deposit large sums of cash into a bank