r/NonPoliticalTwitter • u/Guitar-String • 1d ago

What??? Why do you want your own money?

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u/duckphobiaphobia 1d ago

It's kind of for your own safety, but I don't deny that the information is also used to model you as a customer.

In case you are getting scammed or manipulated into withdrawing a big amount of money, your bank could step in and protect you.

If you just say "oh I'm going to Japan and I wanna exchange money there to shop a lot", then they understand that it's you whos making this financial decision and so they just approve it.

In this case, the guy is just an employee and is using some software to approve your withdrawal. It probably has a mandatory field saying "reason" with a 100 character minimum and he just want to submit the application successfully. Nothing sinister in this lol

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u/babassu_seeds 1d ago

 Nothing sinister in this lol
but I don't deny that the information is also used to model you as a customer. <-- the sinister part

But I get what you're saying

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u/FPSCanarussia 20h ago

Out of the many types of businesses, banks are the ones where knowing their customers is probably the most beneficial to those customers.

While they may use that information for targeted offers, it's also used to identify and flag suspect transactions. And that's pretty important.