My Bank Tried to STOP My £20,000 Silver Investment - Here's How I Won!
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- čas přidán 29. 06. 2024
- #gold #silver #bank
🎉 I BEAT MY BANK! 🏦💪
In this video, I’m sharing the jaw-dropping story of how my bank tried to stop me from buying £20,000 worth of silver! 😲✨ From endless phone calls to ridiculous verification processes, they did everything they could to block my purchase. But guess what? I didn't give up, and I WON! 🏆🚀
🔍 What You'll See:
The Blockade: Discover the crazy hurdles my bank threw in my way just to stop a simple investment.
Persistence Pays Off: See how I navigated through the bureaucracy and emerged victorious.
Why Silver? Learn why I chose to invest in silver and the potential benefits of holding physical precious metals.
Tips for YOU: Get my top tips on how to handle similar situations and make sure you can buy what you want, when you want.
🔗 Links Mentioned:
My preferred silver dealer: [Link to dealer]
Learn more about investing in silver: [Educational resource]
Previous video on why I’m investing in silver: [Link to previous video]
💬 Share Your Stories!
Have you ever had a bank try to stop you from making a purchase? Share your experiences in the comments below! Let's talk about how to take control of our finances and investments! 🔥💰
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Thanks for watching, and remember - don’t let anyone stop you from reaching your financial goals! 💪💼
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Topics covered in this video:
banking, finance, gold, silver, precious metals, cash, wealth preservation, economic uncertainty, financial independence, store of value, means of exchange, alternative finance, bank withdrawal, financial strategies, personal finance, financial system, economic trends, global economy, investment, asset allocation, monetary policy, inflation, deflation, wealth management, fiat currency, currency devaluation, financial education, financial literacy, monetary history, financial freedom, financial planning, asset protection. - Zábava
Not being able to get YOUR money out of the bank should be extremely alarming to the point you remove it All.
The bank is very clear about this, it's not YOUR " Money" lol once you lodge it the currency belongs to the bank. That's why they can tell you how much you can withdraw.
Also why if you get scammed the banks covers it not you because legally its “the banks” currency once you deposit it.
@@A.Gardener ...and people still cant understand this, comprehend it even😬
@@alangb2086 The bank and Gov know that people are not very bright. They do it in " baby steps" and then if the dummies show any sign of resistance they can walk it back a bit. This tactic used in many aspects of our lives, not just the money/ currency.
I just did yesterday...Chase gave me the run around trying to tell me it would take over a week to get my money they would have to order it...
If banks don't handle cash, then there is no need for banks.
Banks don't handle LARGE sums of cash for various reasons. Some more obvious than others.
The govt wants to remove banks or at least remove their power - read up on UK central banking, scary to say the least
They love people that can't control their credit cards, everything else just works around it
The irony of the bank asking you if you’re not being scammed is the bankers probably wouldn’t know real silver if it bit them.
Same thing happened to me. I wanted to take $20,000 out in cash. They kept me there for two hours. The bank manager tried to talk me out of it. Finally I got very angry. After a long time, they gave me my money.
@@robinhacking277 was that for me? Thank you very much. lol
Anytime you step outside 'the system' you will encounter resistance.
The story of my life.
God forbid you use digital numbers on a screen to buy a real currency that the bank / government can't control.
I only keep enough money in the system that is necessary to pay my bills anything extra, I become my own bank
The only way. Banks can't be trusted.
Same here, and I spread my cash between several different banks.
@@nonjaninja4904 banks and courts
Just remember guys, that currency in the bank is not your currency. It's an unsecured loan to the bank. It's their currency now
Exactly, if you cant hold it in your hand then it isn't yours to own.
thats right and not near enough people know that or they wouldnt put their money in
That's not even the worst part! Think about how you get paid? Yep, it's an unsecure loan to the bank. Even the fruits of your labour are not yours. They let you have some if you are good. We all saw what happened to the Canadian truckers, Nigel Farage and on a bigger scale Russia. So technically, you actually work for the banks. Who has more control over your life, bankers or government? Who is really in control of the government?
I live in the USA but every time I need to get a lot of cash for metals purchases, they ask what it's for and I tell them I'm going to Vegas. Never an issue at all.
Lots of people in the USA are having issues. Especially bullion sealees
I carried three 100oz (3 kilos+ each) bars of silver to a coin shop in a rucksack 15 years ago once - definitely not convenient. I swapped into 1oz gold bars which happily fit in my pocket !
Still have those gold bars today along with a ‘few’ others.
Nice 👍
Banks have become very invasive/intrusive to account holders over here in the Netherlands.
Basically any transaction over 10k done as a private party is automatically flagged as "suspicious".
It gets put on hold and you have to prove what you're doing with the money, supposedly to "prevent money laundry"...
As inflation goes higher.....
Ahhh, the old "we need more information to process this transaction"..
I always say "hookers and blow, baby".
Exactly!
One tip always keep over £20,000 some where but not in bank I always pay cash for silver I only get mine from a bullion dealer or a coin shop, so there's no record of it.
Always pay with cash !
Wise words. I am in a small town and all they ask is to let them know in advance a day to make sure they have enough cash on hand.
My bank wont let me take more than £999 in cash on demand. I ask for £1,000, they refuse. So I now have to take just £999. Cash will soon be illegal…..
who do you bank with as my bank does not have a cash counter and hasn't since covid times?
Can you do multiple withdrawals?
@@shanethrelfall416 no they will not allow this
You guys gave up on freedom decades ago. Liberal democrats are scum. Wake up. They hate freedom
fire your bank....these are the actions of a country in financial trouble
5 years from now your going to be pretty happy you bought that .
try 3-6 months
Hes turning it into product. Not stacking.
With the CBDC we are all going to be going thru this sort of thing all the time. Government will have absolute final say as to wether they approve any and every purchase you want to make.
It will probably be like America on the gold standard when personal ownership of gold was banned. Only government can control currency.
I had trouble putting money in to my account. It was £1200, some of it in fifties, which may have lead to them being arsey. Questions like where did I get, when did I get it, I answered that's not your concern, it's my money. I walked out, then three doors down and put in another account with another bank, no questions. I closed my accounts with the first bank the next week, they didn't even ask why, or is there anything we can do to help next time. I won't say it was Metro, oh bum, just did. Never mind.
Metro, was recently taken over by a Columbian drug lord. The UK financial regulator has him flagged for financial crimes. True story
None of their business....Tell them to F. off and do their jobs !
1000 ounces-1 kilo at 30$ per oz is 30000$us how did you get 25 kilos for 20000 pounds do you really think it is lsilver? 25 times 30 thousand is a lot more t5han 20000 pounds
@@cappstreet1601 1 kilo is 32 ounces.
@@cappstreet1601It's 1000 grams in a kilogram! Which is more like 30 ounces...
I bought Bitcoin that way. That was not easy but now I am free to do whatever I want with it. No more borders or regulations can stop me now and never again in the future. I am my own Bank now.
It happened to me when I bought a car from my friend that I have known for years. I had to jumpstart through “hoops” just like you described. So much that they started to ask for the year make and model of the car. I stopped that person right there and said “it’s my money and I’m not financing it!” After a bit more red tape I finally got the money sent to my friend. Luckily he was patient. This was in the US.
Beautiful silver mate 😍
I remember paying £450 for my first 1kg bar
I thought that was expensive at the time but now they’re going for well over a grand on eBay etc
The premiums in the U.K. are absolutely ridiculous
UK charges VAT on silver but not on gold coinage, you will pay less premium on sovereigns or Britannia 1oz coins.
@@riverraven7359 makes buying silver pointless
All UK pawn shops & jewlers only pay out SCRAP prices,
I got offered £40 for a half sovereign, ten years ago
While they had one in the window for £200.
@@JaSon-wc4pn well of course that's just business. Fortunately the internet age gives us more options than brick and mortar stores. You still get a premium scraped off your price but generally not 50+% like a pawnshop!
Bullion dealers (Atkinson etc) are selling 1kgs sub £985. I'm not sure why anyone would pay over the odds on ebay, and from a total stranger
The behaviour of the bank is absolutely outrageous!!
Yep… my bank tried to stop me buying metals… took hours to sort it out
I recently bough two 5 oz gold bars, using my banks credit line.
I'd be willing to bet there are people out there who have met a random stranger off the Internet and bought 25 kilos. Probably not precious metals right enough...
I collect a platinum 1oz QB English Lion tomorrow, bringing it home will not be too difficult.
Hi Backyard, I did similar across 2020 and 2021. In coins and old English and Irish 20th century silver (I dislike the term 'junk').
Bank resisted. Ulster Bank (RBS). Poor teller checking me to make sure I was ok and not under duress. My speech at the hatch about the bank itself being a casino didnt go down well. But then Ulster Bank closed up shop and I have my pile of silver and his job is no more. Not cause and effect, just how it happened.
Later, a day or so later, I had 2 more calls from the bank. Just checking in etc.
The acam is holding on to banknotes.
Good thing they are being honest now, many portfolios could take a significant hit if not properly diversified
Does your video software automatically insert your music? Because it happened twice starting from around 11:40 , over you speaking. Strange
I must have missed it during the edit
I noticed this as well and could hear you at these points in the video.
Yesterday I was looking to buy a half-kilo silver bar and today I got this video recommended on CZcams :)
The music was going over you at the 13 minute mark just to let you know if you didn't
Thanks, yeah I missed it in the editing process. Sorry!
@@BackyardBullion missed it twice
When you say about metal testing equipment, what did you use for silver remotely,
Also rucksack would have been more comfortable than duffel.
Keep up the fantastic work!
If you spend any large amount online or multiple payments on a site you don't normally visit the banks will flag it and possibly stop the transaction. This is a very normal response as an anti theft protection measure. All you got to do is call the bank, confirm you're identity, and confirm you wish to do the transaction. Be careful with buying from random strangers as there are a lot of scammers right now with the latest rush to precious metals.
BYB do you even lift bro
I transferred money to a bullion dealer last week. First time ever got several more layers of questions.
Did you pay vat on the silver. I'm looking at buying some coins have you any advice on a good best price supplier. I used Chards last time
I didnt pay vat on this. It was second hand from a private seller. You should check out the silver forum, kilo bars for sale on there for around £800 right now.
@@BackyardBullion Hello. Have you a link to the Silver forum. How do you check if the bars are real. I used magnets for my coins .
Be the bank.
Good job man that's how you stick it to da bank
Have you a link so I can find a good seller vat free. Also I used magnets for my coin check. What do you use for checking bars
That's what happens when you live in a nanny state....
They are all becoming nanny states.
Congratulations!
Be thankful for the hassle. Most bank staff know nothing about silver, but they know all about the bank's rules. I bought 5 $100 grocery gift cards and was asked why at the cash, I was happy they asked even though I knew they were for a family member at university. There are so many scams these days around gift cards, etc. Not scam related, but I took a $10 bill to a bank that seemed to be missing a feature; the teller said "thanks" and i walked out with $10 less. lol If it was for a bug out, I would have turned that silver into gold.
The banks look at what may be out of the ordinary in purchase history. My bank block a $1k ebay purchase b/c was higher than usual. I had to go through same questions. Later after that they didn't block a random purchase in a state I don't live near. Someone lifted my number. They had to reimburse me.
I've had no issues on TSF. Great bunch of folks.
Interesting video.
I've just made my first ever purchase of gold. I went down the ETC route, preferring to have someone else look after the security aspects. The gold is in the vault of a big bank in London.
>silver
>”investment”
Pick one
So many scams these days- the banks are protecting you (and them) by checking, they are also making sure you accept liability if it was a scam.
Hi Back Yard, that's crazy Thay did that to you. Awsom perches' thumbs up. Can we buy one from you love the England bar. If you need to melt it all good.
do you have any The gold exchange TGE bars, i bought one the other day on the silver forum and when it arrived I googled the company, not much came up execept an old google maps page for them and companies house records so I had a look. It didn't look normal the director had been the director of over 300 companies and a lot of them were only in business for one day. Then it all went quiet on that name, just wondering if he was using a burner ID or if he might have got into some trouble?
Most bank accounts only have a 20k limit a day that you can withdraw or transfer. If you're trying to transfer that amount to a new payee, the bank will question this. It's fraud prevention
those kilos bars look so awesome someday i be able to get just one not 25 lol nice vid from colorado usa
i started with with 2 bars of 25 grams silver and recently purchased one 100 gram bar
Those are some shiny bars :)
here in the US ,I've found personally that using small local banks or local credit unions works so much better dealing in cash as I can easily form decent relationships with the folks who work there and also the management ... doesn't mean its always problem free but
I haven't really had any glitches .... yet !!
It’s a bit different here in the UK. Local Bank branches are closing at an alarming rate and customers are literally being rail roaded into using the banks online systems and apps. Even if you turn up in person you face a barrage of questions on both depositing or withdrawing cash. In fact a lot of branches refuse to do it or at the very least you need to arrange days before. They always try and force you to use online systems even if you turn up to the branch in person.
on the positive note, u should be thankful for the bank to prevent customers from being scammed online. A few times here in Australia, the bank here did a great job in looking after me from credit card scamming... it saved be thousands of dollars being lost literally! Alot of elderly are being scammed here too...so they are not wrong to ask you these questions! They are not stupid... they are doing their job!
I reckon those bars look rather large for a kilo of silver. Have you tested them by some method?
they look the same size as a bunch of perth mint 1kg bars I have
I like the SMP bar they're pretty cool looking 12:51
My bank wasnt bothered when i bought my tubes of gold britanias or tubes of sovereigns , i did buy on credit card ( paid in full end of month ) even got extra 50 days of interest and 1.5% cash back. My tubes are a lot easier to move they fit in my jeans pockets. I do have a coupl of 1kilo silver coins in my collection but never my stack
So annyoing when commonsense cannot prevail, but I appreciate banks need to cover their ass and they're more worried about falling foul of rules than helping the average joe.
Do a gravity test on the bar. Some of the bars look a little bit too big for 1 kilo bar
Dang you are going chop up $31 thousand dollars man that wild can you vlog the whole thing I want to see it please 🙏 😊
Can I buy one of the smp kilos?
Bank was just being safe, been in the interview room and quizzed a couple of times. So many people do get scammed, maybe not with metals They're just being careful, for you and them.
Old paint cans and ammo boxes are good for carrying and storing...
£10k is where things start getting scrutiny, cash or electronic
Banks get to make money out of the air through fractional banking. It's your money.
I would not buy that amount of silver from a private individual. You can do a heavy wrap of silver on a bar and it will pass ping test and machine test.
The sound was conusing md loud around min 11 and 12 .. pls check if really wished to be like that. Btw beautiful bars bro
It was an editing mistake, sorry
The bank did the right thing. Imagine if it was an actual scam, you'd be making a video about the lack of security at the bank.
I've got a bunch of coins from coin roll hunting equal to what 25 kilos of silver weigh and its heavy! I can lift it from my car into the bank (to use their coin counter/deposit machine) but any further is not feasible. If bugging out having the cash as paper currency would be easier. Or held as gold would be ideal.
There's some rogue music at around 11:42 - just a heads up! And at 12:18! The jingle has a mind of its own!
Thanks, I rushed the editing and missed them. sorry!
Its not funny its very concerning !
Did you use to (still do) play with Jenga? 😁
May I ask, did you get certificates with them? If not, I think the certificates improve saleability (slightly), therefore is it possible to get replacement certificates?
Good job.
The scammers will double dip, with this new law. Pretend to be scammed and use a third party to take their money.
Don’t forget everyone, once your cash is in the bank legally it is no longer yours. The bank can do whatever they want with your cash such as investing it on anything to make a profit or lending it to others. See how I used “cash” instead of “money”. “Money” is not fiat currency. What you work for is not really money” but a constantly devaluing currency.
I am genuinely interested in what you took to check your goods? Through your inspirational videos l have a loupe, jewelers scales, so l am keen to learn other tools that can help?
Also thank you! As l am taking leaps into small buy and sell opportunities. 😊
Time to play Jenga with silver kilo bars lol
I would close everything but my credit card there. I had a similar problem with Paypal and that solution worked well for me.
I have the same experience, I can't buy more then 2k for stocks / shares per month. Anything more it blocked my account blocked
Just wait until we get CBDC's 😢
I would be hesitant buying or trading precious metals over an ounce..I probably worry to much.
I wonder if you tested all on a " verifier " ?
They are lovely!
14:06 I used to work in powder coating and the the powder came in 25KG boxes and I know your not walking to far with that. Some jobs took 10 boxes🥵
I carried (4) 100 ounce silver bars in each pocket once. I felt like an overweight person who ate at fast food restaurants too often. It was slow walking around.
I got banned by my bank for buying metals and btc 😂😂 they said you are a riskfull cleint
To all the uninformed commenting about how the bank is not letting you get your money and that should be a warning sign to remove all your money or such, this is not just about the banking and more about the banking regulator forcing criteria on transactions, otherwise banks will be held liable, my get a rather large fine and possibly also banking staff feeling the wrath of the regulator. Due to this banks have a duty of care to ensure your money is safe, vulnerable customers making bad decisions and being scammed all customers have to ensure certain things are agreed to prior to the bank releasing money.
Under the current definition of vulnerable customer anyone at any time could fall under this. Banks spend billions ensuring they are compliant with bank regs. it not the banks, its the govt/regulator
Check for silver plated copper to be sure! Random internet interactions could be nefarious.
I had the bank's fraud squad phone me up when I tried to transfer £7000 to buy a bitcoin they were not happy. I bought the bitcoin then sold it at £11500 (BTC is now over £60000)
If I calculated it correctly, you spent $31.35/ounce. How does that compare to other competitive silver dealers by local or online dealers?
I think I will stick with 10 oz Gold to bug out with...25kg a lot to deal with on top of everything else in a dire situation if shit was ever to hit a fan.
every couple of months go in and say you need cash for a tattoo. They won't bother you. Also you can say you need Casino money. Also saying your going to a charity auction is a good one . I've heard people use wild excuses like " Gender reaffirming surgery "
They always do check for your protection. Reason is many big cash transactions are for scams,blackmail,kidnappings,
Oh before I watch this, I thought your bank refused to give you that amount money that you asked for. After watching, your bank was following procedures, nothing extra ordinary being cautious; you have a good bank that looks after your money (your money is their business so as long they don't interfere your privacy on how much you take out and spend). Your money, you control what's yours!
Wow. My first thought was with your business, all the fraud detection algorithms should say this is a normal transaction.
Also, walking around with 20kg in weight is quite the workout.
Stunning pieces, rubish bank considering 1 clearly they have no ideea what Bullion is and 2 you were right there with the seller...but I am.glad is done now. 😊
was the music at 11:45 accidental? lol was so confused
Yes, apologies for the sloppy editing
@@BackyardBullion everything else was very enjoyable! Great video!
They look nice!
25 kilos of solid metal is very, very heavy and no one would disagree with the average Brit difficulty to carry it even in a backpack! Also the fact that you can even transact on the spot for 20,000 pounds from a business bank account is impossibly harder in America from a small business perspective!
Yes if you do a lot of cash business banks now charge you for cash deposits!