Credit/Debit/Prepaid: ATM Card without daily withdrawal limit?

bengal-stripe

Tammy00 wrote: »

I need to receive few wire transfers on bank account, I am yet to open.....One idea would be to get wire transfers on other accounts and do the further money transfers electronically to the account where I will be able to go to the branch..... So what I want to achieve is get the physical cash from received wire electronic transfers in shortest possible time without being limited (or at least limited too much) to ATM cash withdrawal limits.

Well, it looks, walks and quacks......no, not like a duck, but like money laundering.

Marchitiello

Most EU countries have put measures in Place for which "cash in hand" transactions are restricted to very low amount to counter act money laundering and tax avoidance (Germany proposed a 5000 euro limit last year, France has already a 1000 euro limit and in Italy the limit is 2999.99 euro). If you are then transacting in a country where there is no limit (with your physical presence) then you need to have a bank account in that particular country and a branch from which you are allowed to get the cash needed. There is no other way around it, and ATM will not be the solution.

phillw

Tammy00 wrote: »

SnowTiger: I need to receive few wire transfers on bank account, I am yet to open, linked to the card we are talking about.

Is this some form of business? It sounds like wire transfer fraud. You'll withdraw the money and give it to someone, then the wire transfer will bounce and your account will be overdrawn. You'll end up bankrupt and maybe even a criminal record.

EarthBoy

Tammy00 wrote: »

At least 50000 EUR daily ATM cash withdrawal limit or above, this is around 41840 GBP.

Tammy00 wrote: »

The only problem is HOW to do it. Thats why I am hoping someone could suggest something. They are not so big amounts anyway....

In whose world is 50,000 Euros or £41,840 not a big amount to withdraw from a cash machine?

Exactly which planet are you on?

agrinnall

I'm going to break my own recommendation by suggesting that this is the only way the OP will get more than £40K out of an ATM.

IDontHaveAUserName

Tammy00 wrote: »

Hello Everyone,

I am looking for a bank and type of bank account that would include ATM card regardless of its type (credit or debit or prepaid) without daily cash withdrawing limit. Calling the financial institution and hope to either rise or remove limit won't help. Also withdrawing money personally in the branch is off-topic because I am asking about ATM. Either no maximum ATM cash withdrawal limit or extremely high one).

It can be either inside or outside of UK. It can also be prepaid card as long as it has own bank account number (e.g. iban) to wire funds to it.

Any suggestion what to choose would be highly appreciated. So far I have done a lot of research but everything I see is by far too low maximum daily ATM cash withdrawal limit

As far as I know you won't be able to achieve this in UK either in EEA.
The only solution that I know it's to get a bank account in Lebanon, certain banks in Lebanon will allow you to have a card with from which you can withdraw EUR 50K day. Of course you will have to get to Lebanon in person since you won't be able to open accounts online there ( at least 2 years ago you weren't)

The second option: get 10/15 bank accounts in UK/EEA every bank account has a card, every card has a £300-500 withdrawal limit. Spread the money through this accounts and use the cards 10 cards to withdraw money from different ATM's across were you live.

You don't want to go in branch but if you change your mind and don't want to use your own bank account for such transactions you can do the following. You either find three to five persons which you can trust and after receiving the wire transfer into your account you transfer 10K to each of them. They go to the branch and each of them withdraw 10k from their bank account. They hand you the money.

Of course you can do other things as well but without knowing what are you up to I can't think further.



Now in regards to those who ask why someone will need such a high amount to withdraw from an ATM it's now always money laundering related. I make around 30k-60k/week often more than this and I'm also using only cash where ever I go. It would be way simpler for me to go to the damn ATM and take out all my money since I have one 5 minutes away from my house rather than going 10 miles to the damn branch. But since my bank won't allow this I have to go to the damn branch.

TIP: you can call the bank and ask them to increase the daily withdrawal limit. Some UK bank will allow you £1k a day some of them might go even higher. But £49k a day ... nope Sir ... Lebanon it's your answer