Protesting Bank Account Freezes! People Demonstrate In-Person by "Withdrawing 100 Yuan 50 Times in a Row" — Branches Troubled

Is protesting against banks effective? Not sure, but a Taiwanese citizen vented their frustration by making consecutive withdrawals at a bank. (Background: “Crypto Dealers Come to Your Home” Becomes a New Scam Tactic in Taiwan! Financial Supervisory Commission to Regulate Individual Crypto Dealers to Prevent Fraud: More Than 3 Transactions Must Be Reported) (Additional context: AllPay users scammed and their accounts stolen! Stern denial: No “dark web sale” of PX Mart member credit card database, etc.)

In recent years, banks have tightened their “risk control” mechanisms to prevent fraud, but this has also led to frequent complaints about the inconvenience caused to customers. Since September of this year, many people have unexpectedly discovered their accounts “locked by risk control,” requiring them to visit a branch in person to unlock the account or only allowing them to use in-person services in the future.

Recently, a citizen dissatisfied with their account being subject to bank risk control went directly to a branch to protest through their actions. They requested to withdraw only NT$100 each time and did so 50 times in a row, prompting the bank to step in and ask them to stop. This form of protest sparked extensive discussion among netizens.

Man’s tactic: “Withdrawing NT$100 consecutively” A performance artist known as “Balloon Prince” posted on Facebook that his CTBC account was frozen due to risk control, making it impossible to use online banking or ATMs. Customer service told him he could only conduct business at the counter.

In frustration, Balloon Prince went to the counter to withdraw NT$100, repeating the withdrawal 50 times in a row, demonstrating the “wealth and leisure” of Taiwanese people. The branch manager tried to persuade him to “withdraw it all at once,” but the customer insisted on his right to withdraw in installments.

Balloon Prince wrote in his post: “The big data misjudged; it’s not my problem, it’s the bank’s problem, which caused me inconvenience. So I’ll throw the problem back to the bank.”

Netizens discuss: Is this protest meaningful? This citizen’s protest sparked numerous responses on Facebook, with public opinion divided:

Supporters: They believe banks have gone overboard with risk controls in recent years, locking accounts too easily. “People should always be able to speak up for themselves,” “The banks started the trouble, so it’s only fair,” “Banks now treat depositors like thieves,” “Support giving the banks a lesson.”

Opponents: They think this only makes things harder for frontline employees. “The staff are exhausted while head office people sip coffee,” “It wastes the time of people waiting in line,” “This behavior is exactly what triggers risk control.”

Some netizens working in finance noted that consecutive counter withdrawals are not as time-consuming as people think, but if many people lined up to do it, it could indeed crowd out other customers.

Banks’ dilemma: The challenge of fraud prevention Regarding such incidents, bankers privately revealed that as the Financial Supervisory Commission strengthens anti-fraud policies, banks must implement KY (Know Your Customer) and AML (Anti-Money Laundering) mechanisms. If the system detects rapid in-and-out transactions, frequent nighttime activity, or involvement with virtual currencies, it’s very likely to trigger risk control.

Although anti-fraud measures inconvenience depositors, ultimately, they are meant to protect people’s assets. The banks urge customers facing risk control issues to appeal through proper channels and avoid radical actions that may violate the law or result in account termination.

Related reports: “Protesting Locked Bank Account! Citizen Demonstrates ‘Withdrawing NT$100 Fifty Times at the Counter,’ Giving the Branch a Headache” — This article was first published by BlockTempo, the most influential blockchain media platform.