"I'm going to buy my way into the dictatorship of a small African banana republic where I'll rule with an iron fist for a few months before being shot in the back of a head and thrown into a ditch during a bloody coup, at which point my successor will drag the country into a debilitating war that lasts for decades until your country has to get involved and your grandchildren drafted to go fight on foreign soil."

1) Open an account at a local bank or credit union 2) "Hello NatWest, I would like to close my account. The reason is your ridiculous policy of having to prove why I want to withdrawal my own money from your ponzi scheme. Give me a cashier's check. I will be telling everyone I know about your cash withdrawal policy. 3) Deposit into local bank or credit union.

Edit: oh, it's Canada. You only have four banks. You are fucked.

Seems to be an attempt to protect seniors from Indian scammers.

"The path to hell is paved with good intentions."

Indians preying on the eldery is nothing new, so its peculiar to see a policy like this come to light amid the SVB debacle.

No

U.S. banks do the same thing.

Everyone needs to research BSA (Bank Secrecy Act) and KYC (Know Your Customer) rules. Research what banks aren't allowed to tell you and what a SAR is.

TLDR: They are under orders to surveil you and are prohibited from informing you.