"Wells Fargo limiting customers cash withdrawls (sic) to $1,000 due to 'emergency conditions,'" says a June 8, 2023 tweet with thousands of interactions. "The banks are running out of money."
The same image has circulated across Facebook, Instagram, Telegram and Truth Social.
Some posts suggest the supposed notice is a sign of instability in the banking system after the high-profile failure of Silicon Valley Bank in March 2023, adding comments such as "We really can't trust the banks anymore" and "BUY BITCOIN BEFORE IT WILL BE TOO LATE."
The photo appears to stem from a Reddit account using the name Caitlin Long -- the chief executive of Custodia Bank, a digital asset institution that has failed to join the Federal Reserve System. But a Custodia spokesperson told AFP on June 16 that the CEO did not publish the image and has no presence on Reddit.
The claims about Wells Fargo are also false -- the bank told AFP it has no such policy on cash limits.
"We are aware of the social media posts, and these posts are not true," a company spokesperson said in a June 15 email. "As always, we invite customers to contact us if they have questions."
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