Recent attention has been drawn to the management of cash withdrawals by bank customers in the Shenzhen banking industry following the controversy sparked by the news of large withdrawals requiring reporting and approval at police stations in a Jilin bank. Some people have questioned whether this practice truly serves the banks’ stated purpose of “minimizing the impact on customer withdrawals.”
A report by the Southern Metropolis Daily on June 13 revealed that when visiting various Shenzhen bank branches to understand customers’ cash withdrawal requirements, it was found that withdrawals of up to 20,000 yuan (RMB) can be made using ATMs, withdrawals between 20,000 and 50,000 yuan can be made at the counter, while withdrawals exceeding 50,000 yuan require advance appointment at the branch, with larger amounts necessitating proof of intended use.
Different banks have varying requirements, with China Everbright Bank in Shenzhen stipulating appointments for withdrawals exceeding 20,000 yuan, and Shenzhen Rural Commercial Bank requiring advance booking for withdrawals over 100,000 yuan.
The implementation of an appointment system is explained by staff at Beijing Bank, Industrial Bank, and China Everbright Bank in Shenzhen as a measure to prevent customers from arriving at branches unannounced for large withdrawals, potentially causing cash shortages at the counters and impacting customer withdrawals.
The news about “Several Shenzhen banks requiring appointments for withdrawals exceeding 50,000 yuan” has quickly become a hot topic.
In response to this, media personality “Brother Zhong” raised doubts, questioning whether the requirement for appointments, even for 50,000 yuan withdrawals, is truly convenient for customers. Does this turn Shenzhen into a small town? Has it become a sub-prefecture or a third-tier city? Is it still a special economic zone or a top-tier city? Does this practice genuinely avoid causing inconvenience or does it ultimately cause inconvenience?
Customers are required to provide personal information when making appointments and must withdraw funds at the designated time. The head of a Shenzhen branch of Postal Savings Bank stated that for their customers, appointments for next-day withdrawals should be made before 15:00.
A representative from the Shenzhen branch of China Construction Bank explained that based on the firsthand experience of frontline bank employees, many branches require appointments for withdrawals exceeding 50,000 yuan a day in advance, to prevent excessive withdrawals on the same day leading to cash shortages, with most branches setting regulations based on actual operational circumstances.
Staff at a Shenzhen branch of Shenzhen Rural Commercial Bank noted that for customers withdrawing over 100,000 yuan, the bank assesses recent large transfers or transactions to decide on withdrawal requests, usually meeting customers’ needs.
Professionals in the Shenzhen banking industry commented that financial institutions can establish a tiered appointment system for large cash withdrawals based on their own circumstances, clearly recording key customer reservation information. This includes account holder’s name, ID number, reservation date, branch location, withdrawal amount, booking channel, and purpose of withdrawal.
On June 11, a video circulating on social media sparked debate as a mother attempting to withdraw a deposit not exceeding 100,000 yuan at a Jilin Bank branch in Changchun was told she needed approval from the local police station. This incident quickly gained widespread public attention. The following day, the bank branch staff explained that this procedure was implemented to combat telecommunications fraud and safeguard residents’ financial security.
In the video, the mother planned to transfer the sum from Jilin Bank to another bank to benefit from a higher interest rate, carrying necessary documents such as her bank card and ID. However, the bank informed her that she would need approval from the local police station to proceed with the transfer. After a period of waiting, she eventually obtained the necessary approval from the police station before completing the transfer at the bank counter.
The bank staff at the Jilin Bank branch explained that based on the jurisdictional police station’s requirements, when customers request withdrawals exceeding 20,000 yuan, the bank must verify the customer’s identity.
However, staff at the Jin’an Police Station, when interviewed by Time Weekly, stated that they do not have such regulations and that routine deposit and withdrawal transactions should proceed without issues. They advised customers to directly verify the specific circumstances with the bank, mentioning that measures are only taken in case of abnormal user information or transactions.