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Unicredit "Temporarily" Limits ATM Withdrawals In Ukraine
It appears the bank runs - or desparate dash for cash - in Ukraine have escalated. We noted that Russian banks had already limited access but now Unicredit has issued a statement "temporarily limiting operations on cash withdrawal in ATMs, in order to provide all the clients with an access to cash money." The decision, they stress, is a temporary one (like Cyprus capital controls?) and will be cancelled with the "normalization of the situation."
UniCredit Bank has temporarily limited operations on cash withdrawal in ATMs, in order to provide all the clients with an access to cash money. According to the decision of the Management Board, the sum for cash withdrawal for one card is limited at the level of UAH 1500 per 24 hours.
We are stressing that these measures are taken exclusively to provide all the bank’s clients with ATM service. For the same purposes, cash withdrawals at UniCredit Bank’s ATMs using cards of other banks is limited 500 UAH per day.
This decision – is a temporary one and it will be cancelled in the nearest time with the normalization of situation. Besides, it does not involve operations in the trade networks.
We bring our apologies for temporary inconveniences and hope for understanding
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Possession is the law
Capital controls and sanctions during war? Does anyone still think the banksters don't run the world? lmao.
Back in Canada, fonestar's Bitcoin system is working just fine.
"You know what the Ukraine is? It's a sitting duck. A road apple, Newman. The Ukraine is weak. It's feeble. I think it's time to put the hurt on the Ukraine."
just remember that this thing isn't as black as it appears
https://www.youtube.com/watch?v=EOzMdEwYmDU
spoiler: it's a good old-fashioned bank run. in black in white.
Well, unlike Cyprus, at least Ukraine prints its own currency. They just need a little time for the printing presses to catch up.
Good! Go down to the corner and get yourself a gallon of milk with it. If shit gets tough my corner grocer will surely take a silver quarter, you boob!
fonestar's grocer is accepting bits. Currently, the bits are part of the banker's SWIFT system, Visa, Amex, Mastercard and Discovery. That will change and the bits will be part of the Bitcoin network.
Sheet! why didn't you say so? I stand corrected. Of course I said if times get tough, and how do they make change on a gallon of milk?
Except for Mt Gox and who knows next?
Maybe the NSA will take over that neat digital wallet of yours.
Would be interested in how they would go about that?
NSA has backdoors on AMD and Pentium processors. They don't need to electronically take bitcoins from you, they can freeze it - making it mute.
Supposing they do, it's a stretch saying that they could shut down every computer on Earth and stop people from developing a non-compliant processor.
You don't understand bitcoin.
If you think the bitcoin network is running on AMD chips you are living in 2012.
Tis just a flesh wound.
If silver were a person I would sit him down and tell him i'm not angry at him, i'm just disappointed in him. Because that is even worse, I have been told.
That could never happen here.
Um, aren't ATM withdrawals limited anyhow? I mean how much money can one of those machines hold?
In 1000CHF notes on Bahnhofstrasse, Zürich? Alot.
Individual ATM machines have 2 separate withdrawal limits- 1) the transaction programmed by the machine owner, and 2) the transaction limit transmitted by the cardholders bank (the lesser of daily limit or available funds).
Another advantage for Bitcoin ATMs of the future. They will not need to be reloaded with cumbersome cash, just receipt paper.
That's indeed nifty! So basically once you've made a mental note then said piece of " paper " could be taken home and used to wipe ones asss?
An ATM is nothing but an exchange. It could be Mt Goxxed.
An ATM is an exchange now? Fuck you people are retarded. You can't even tell the difference between a stock and a currency.
Money in da bank just got Gox'd!
We need regulation!!
Bitcoin is self-regulated. Even with Gox the currency performed much better this year compared to last.
It is based on reality not fiat bankster manipulation.
And there is a whole lot more of financial services being added to it. Bitcoin means the death of bankster occupation and the Fraud they use to take down Nations.
Corzine'd Cyprus'd Gox'd, Ukraine'd
Wondered why Bitcoin was rising.
? bitstampUSD 590.9100 614.220 -3.795% 867479 ? bitfinexUSD 589.2500 611.423 -3.626% 632970Bitcoin user not affected
Especially MtGox account holders.
The situation remains unchanged.
Nor should you as bitcoin was not used much in the Ukraine so your statement means nothing.
It's like someone saying shortage of chitlins didn't do anything to the price paid in NY. Well no chit (sic). Only some southerners eat that crap (pun). Welll very few Ukrainians use bitcoin.
By the way, since the Ukraninian protest have grown dramatically in December 2013, resulting in the ouster of its leader, bitcoin has lost about half its value.
Yes, you were effected. No connection to Ukraine as far as I can see. But you are blind not see the loss and at this point a propagandist for bitcoin, nothing more, with very little credibitity on ZH.
Got physical? Who gives a shit if you can't get paper promises...
fucking communists - stomp those vermin in Moscow and then get rid of the same rodents in the White House
The desperation over the disparate results told the tale...
Wait until they start limiting withdrawals in Italy. That's when the fun starts.
Kiev, meet Brussels.
Time for the EU-loving western Ukrainians to bail in the banks, like all good little serfs would for their EU overlords.
Serious question - what would Russia have done if Ukraine HAD joined the EU? Would we be at the same place at this point?
I'm wondering because if there was a bank run in an EU member country of this size wouldn't that be a complete disaster?
Define "complete disaster". Ukraine is pretty small. The economy is not that much bigger than Denmark. Even Greece was bigger before it all went down the toilet.
If I recall correctly, ECB sent €5 billion cash on airplanes to cyprus last april/may. Obviously freshly printed. Considering how poor(but not small) Ukraine is, it wouldn't make much difference. Problem lies in the interbank lending systems. EU banks are in such a shitty state that you can't allow a single bank(or government) to go broke as it would trigger the domino effect when the loans come due. That's why we had the bail-outs and soon will see some serious bail-ins.
the volume of US govvy trolls on ZH today is remarkable.
This is a perfect example of why you should hold some silver and gold. Not just the ATM/Bank control BS, but during uncertain times you may need to buy favors to survive. Don't get caught underestimating what might happen in your country.
Here's the problem with that. You have to go to the store and buy some food? You walk in with some gold. The teenage girl at the counter looks at her cash drawer and notices there is no slot for gold. There is no chemical test kit under the counter to check to see if it's really gold. She calls her manager and the manager says "if that's gold why don't you go sell it for something I can accept and then you can buy food".
THAT is reality. That is how the world works -- and the really bad news is that if you really need to buy that food then so will others, and no one is going to trade you something that store will take for food to have something that store won't take for food.
How many people have cash or cash reserves? When SHTF, merchants only accept cash, forget plastic. If I would be the manager, I would sell you entire store. Gold would be second best to cash, or first, if you find a smart guy. People will learn fast when they have to.
Fuck the large worldwide banks. Pure and simple.
Hey Crashis:
You're thinking too small. Obviously don't travel much. I'm talking medical, dental travel needs. They will all take silver and gold (without using a test kit).
"Um, aren't ATM withdrawals limited anyhow? I mean how much money can one of those machines hold?"
The one outside the new york fed has no limit because it prints fresh money when you make a withdrawal.