According to Netbase, the bank has limited to 40 transactions per day for each branch office.
The policy, as a result, has caused difficulty for residents as they make many banking transactions every day, including saving money, transferring money, withdrawing money, or paying bills.
The policy even hurt the elderly more. Many elderly people have to line up in front of the bank’s door at 2:00 AM to wait for their turns, fearing they might be missed out.
As the Netbase’s reporter reached the point to figure out the information, the parking-fee management staff told him it was out of transaction turns.
This is not the first time the Chinese have suffered from the communist regime’s controversial financial policies.
Previously, the Central Bank, the China Banking and Insurance Regulatory Commission, and the China Securities Regulatory Commission issued documents regulating the limited amount individuals can deposit or withdraw.
The documents require that individuals who deposit or withdraw an amount exceeding 50,000 yuan or 10,000 dollars must register the fund’s source and purpose from March this year.
According to the mainland’s news report, the policy reflects the regime’s expectation to control the residents’ money flow.