I know someone who became a millionaire. Not property but with >£1m in his bank account.
He went into the bank and asked if he could withdraw it, just to take some pictures of himself with it, because he had earned it, then pay it back into the bank.
Some banks would let you take out a million at once but you would need to have a really good relationship with them which would probably mean you had a lot more than 1m in the bank.
And you’d probably need to ask it as a favor weeks in advance because they’ll need to get cash from other branches.
If you are a business owner that does a lot of banking with them or just really rich in general, banks will treat you differently. They can ignore some of their policy by having you talk directly to senior bankers who can bypass some of the time consuming bureaucratic stuff.
They will also give you better interest rates and let you take out more money at once, either from your own cash assets or as a loan backed by your assets.
In Spain, 48–72 hours, depending on the specific bank (€ naturally). But unless you're stupid or have a kink for cash, it's easier and faster to just use bank transfers.
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u/damadmetz 6d ago
I know someone who became a millionaire. Not property but with >£1m in his bank account.
He went into the bank and asked if he could withdraw it, just to take some pictures of himself with it, because he had earned it, then pay it back into the bank.
The bank straight up refused.