China’s economy continues to decline and following the frenzy of real estate investment the country’s banking system has plunged into a crisis. Citizens are not only grappling with unemployment and wage cuts but are also facing difficulties in withdrawing funds from their bank accounts. Many users believe that the reduction in bank card transfer for limits is a deliberate measure to restrict Capital outflows, according to a recent report by Beijing News Shell Finance numerous bankcard users have found their accounts subject to transfer limits without prior notification. Many people have gone to Bank branches to withdraw cash in order to restore normal use of their accounts while some card holders have simply given up using their cards altogether.
Since the second half of this year several banks have announced adjustments to non-counter transaction limits for certain personal settlement accounts. These include institutions such as the Bank of China, China Construction Bank, Agricultural Bank of China and Jang Xi Bank, the banks have claimed that these measures are meant to prevent Telecom fraud affected customers have daily transfer limits ranging from 500an to2,000 Yuan approximately $69 to $276. However, many users argue that these restrictions are deliberate barriers designed to prevent funds from leaving their accounts, complaints from customers reveal how these measures create significant problems in everyday life such as paying mortgages, car loans, school fees or covering emergency medical expenses causing endless frustration. A bank customer named Leun did not expect her payroll card to suddenly have its limit reduced, in July she planned to withdraw tens of thousands of Yuan from her Bank of China account. However, neither transfers nor ATM withdrawals succeeded because she had exceeded her daily transfer limit even more unexpectedly another of her cards a class One Jiang Xi bank card mainly used for mortgage payments was also subject to limits in July and August. When she attempted to withdraw 200,000 yuan in matured fixed deposits the transfer failed the bank provided neither notification nor explanation for this discrepancy.
In June a netizen reported that her mother who had gone to Jiang Xi Bank in Changchun with her bank card and ID to withdraw less than 100,000 Yuan approximately $144,000 was told by the bank that approval from the local police station was required. Only after police verification was the withdrawal successfully processed at the bank counter the staff claimed this procedure was primarily to prevent Telecom fraud. On November 4th a business owner in Liao Zhong District Shenyang posted a video complaining that when he went to a local rural Commercial Bank branch to withdraw money to pay his employees the bank staff told him he needed to prove to the public Security Bureau that the money is his.
A female employee added large withdrawals involve State secrets netizens were quick to mock the situation suggesting that the bank had run out of money and that there was collusion between the government and businesses. They accused the bank and the public Security Bureau of passing the buck to restrict customers from accessing their funds some users also commented that this reflects the CCP’s method of party control Finance where the public Security Bureau monitors citizens every move including economic activities. Financial commentator Guo Chenqio criticized these practices saying for citizens to withdraw their own money but require approval from the public Security Bureau this is outright hooliganism by the Banks under the Chinese Communist party. It’s like banditry the money you deposit in the bank becomes theirs to control you can’t even take it back when you need it. It feels like outright robbery this isn’t just a financial system collapse it reflects the CCP’s entire system one filled with Rogue and Bandit like Behaviour they’re forcing people in to despair making them want to revolt or even take drastic measures like jumping off buildings.
You have no choice but to beg them to access your own money depositing money in Chinese Banks is worse than throwing it into the water. Banks are supposed to be a place where people can safely store their money allowing them to withdraw it as needed it’s supposed to be a simple transactional relationship. But the CCP has completely distorted this relationship turning it into a battle where citizens must fight tooth and nail against Power just to get their own money back. China’s economic downturn continues as the banking system faces a crisis following a real estate investment frenzy. Citizens are not only dealing with unemployment and wage cuts but also facing challenges in accessing their funds. With sudden restrictions on bank card transfers, many believe this is a measure to curb capital outflows. The banking sector’s adjustments, claiming to prevent fraud, are causing significant daily life disruptions, highlighting broader issues within China’s financial system and governance.