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This New Zealand man was refused a mortgage loan despite having $190K in savings with the bank. So he took his money out in protest. In $20 bills LOL.
Mr Griffiths, a loyal Westpac customer for 25 years, decided to withdraw his money after the bank rejected his application for an $80,000 mortgage. "It's about time normal people took a stand."
He said the bank turned down his application because he did not have a regular income as an artist. However, he was a successful artist, exhibiting his paintings at the World of Wearable Art complex, in Christchurch and New York, he said.
He wanted to buy a $385,000 property in Mapua, had $200,000 in cash and was going to sell his $110,000 campervan.
That more than met the bank's criteria for a 20 per cent deposit, and the property which included a home and commercial premises would have returned $500 a week, he said.
He was disappointed when his loan application was rejected, but it was Westpac losing $111 million to Lane Walker Rudkin Industries that tipped his decision to withdraw his money.
http://www.stuff.co.nz/national/2667215/190-000-withdrawn-in-20-bills
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Good for him. The article has a picture of him with a duffle bag full of stacked $20 bills. Bet the teller had fun counting all of that.
LOL, that was my first thought! The poor teller having to count all that out in front of him. She or he has now got a tale to tell at banking conventions.
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It's great to see a customer take a stand and not just accept their terms. We're becoming too meek in that respect.
It's their very big loss. The man is a perfect customer!
©2009
Good for him. The article has a picture of him with a duffle bag full of stacked $20 bills. Bet the teller had fun counting all of that.