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Gestapo Banks.

This morning as I stood in line at my bank, I watched this guy go through the Spanish Inquisition just to cash a check. He had three checks, two for approx. $800, and one for $600. He deposited the two larger checks into his account and wanted cash for the third.

Well, they requested all this information for their cash-tracking system, which he was politely refusing. All of a sudden, this guy comes out and asks him to go back into his office telling him he had to do so in order to get his cash.

I waited around so I could ask him what happened. He was furious. He said he was surprised he wasn't strip searched.. They put his drivers licence through a scanner, asked him why he needed cash, asked him about his cash-spending habits, and ran some kind of background check...then, he got his cash. He said he asked why he needed to go through this process and they told him: federal compliance.

He told them he was going to transfer his money out of that bank and they told him it's not going to make any difference. All the banks must comply with this cash-tracking system.

WTF? I almost never use cash so I had no idea. Does anyone know anything about this??

by Anonymousreply 7501/24/2013

Eventually, the system wants to get rid of cash because you cannot track it as easily and the system wants total control. You know, Big Brother. They're gradually ratcheting up, and we, like frogs in the proverbial pot will wake up one day and discover there is no where to hide.

by Anonymousreply 101/09/2013

As a favor I deposited a check from the IRS payable to a friend into his account. The Bank of America teller asked for proof of who I was. She wrote my name and driver license ID number on the check, then gave me a receipt.

by Anonymousreply 201/09/2013

I cashed a check a few months ago and was treated pretty well. The most intrusive thing a bank has ever pulled was asking for a thumbprint (Wells Fargo).

by Anonymousreply 301/09/2013

I thought this was gonna be about crazy Tyra!

by Anonymousreply 401/09/2013

I worked for a bank and it's ridiculous. If a teller is over or under by one penny, she is in trouble. If it was found out that that teller ADDED or subtracted a penny to her drawer in order to come out even, she could be prosecuted. Meanwhile, the banksters at the top get away with plundering trillions.

Everyone knows about the Bank Secrecy Act designed to track money laundering enacted in 1970, which works so well considering Wachovia and all the big banks launder money for the drug cartels. And that after 9/11, the banks must report cash transactions in excess of $10,000 during the same business day. Well, here we are almost 12 years later, and customers are harassed over insignificant amounts of cash.

What does that tell you? Who is this system designed for? Not the people, that's for sure.

by Anonymousreply 501/09/2013

A few years ago I withdrew $400 from my checking account, face to face with a teller. It was my bank. I'd interacted with this teller many times and my identity was in dispute.

I had plenty of money in my account.

She asked me (not in a curious chit chat way) "What do you need it for?"


by Anonymousreply 601/09/2013

^ make that, "my identity was NOT in dispute."

by Anonymousreply 701/09/2013

ATM no teller and no questions!

by Anonymousreply 801/09/2013

Banks are notorious at blaming the government (usually the IRS) for making customers jump over hurdles to get simple transactions processed. These are NOT federal guidelines ... but bank policy. He is wise to take his business elsewhere.

by Anonymousreply 901/09/2013

[quote] ATM no teller and no questions!

But limited in the amount of money that you can take out at one time.

by Anonymousreply 1001/09/2013

R8, at that time my bank capped ATM cash transactions at $300 / day.

Anyway I hate being spoken to like a suspect. And over $400? Pfft

by Anonymousreply 1101/09/2013

ah yes, 300 a day. You can change that to a higher amount....but they will ask lots of questions!

by Anonymousreply 1201/09/2013

I like to use cash for most routine purchases (food, for example) so I make large withdrawals to cover my expenses each month. I use the same 2 bank branches and their policy is that you have to have your driver's license ready. I always hand it to them when I withdraw the $$$. As I have been going to these bansk for so long, they know I take out a large sum, and the tellers - unless it is someone new - always tells me that I don't need to show my license, they know who I am. I also have a few hundred thousand in the bank so they know I am good for the money. The banks usually will only give the third degree to those cashing large, third party checks where the customer's bank balance is low.

by Anonymousreply 1301/09/2013

Are credit unions any better?

by Anonymousreply 1401/09/2013

You all are fuckin' liars. My sister works at 5/3 and they are allowed a cumulative total per month to be off. Same thing with Citibank where she worked before.

You are never prosecuted for being over or under. The worst they could do is fire you.

If they question you it's for good reason. I paid cash for my car and they didn't even blink when I took out $12,000 cash. The teller just smiled and said, "be careful." The car dealer was just across the street.

by Anonymousreply 1501/09/2013

smell her....

by Anonymousreply 1601/09/2013

[quote]If they question you it's for good reason.

What is the good reason a stranger needs to know what you are doing with your own money?

And what is it about people who think they are an expert at something just because they know someone who works in a related field?

by Anonymousreply 1701/09/2013

[quote] "What do you need it for?"

Commerce. I exchange currency for goods and/or services.

by Anonymousreply 1801/09/2013

That's not been my experience. I live in the sticks and deal largely with a local/regional bank. Over the past two years I've been settling some family business, depositing many fairly large and assorted smaller checks from various sources, not all of them immediately clear as to what kind of institution the issuer is or the nature of the payment (some are clearly estate or insurance settlement related, but most offer little clue.)

No teller has done so much as a double-take at me or the deposits. For checks of over $10,000 I think they usually make the money available in phases over X business days; but more often they shift gears in explaining this and say the money should be available in full immediately or the next day. (And I've made deposits at various branches, so it's not that the staff usually recognize me.)

About five years ago at the same bank I had a check for only about $2400 from a family trust and it caused a big fuss just to deposit it -- someone senior had to come over and make a phone call and I had to sign something saying that the funds may not be available for X days. That, though, was the only time I ever had any difficulty making a deposit.

by Anonymousreply 1901/09/2013

R15, I was a bank manager. I went through the teller training program as well as the bank management training program and the banks DO have the right to prosecute if tellers add or subtract ONE fucking penny to come out even. I'm sure they do not prosecute for that small amount because it's expensive and not worth the trouble, but they have the right to do it any time they want. And guess what? They have, on occasion.

AND, Wachovia, the bank I worked for, allowed the tellers a certain number of overages/shortages before firing them, while bankers at the top are hardly, if ever, audited, scrutinized, etc..

by Anonymousreply 2001/09/2013

One day I deposited a $600 check to my checking account, and was directed to a desk person (as opposed to a teller) to "finish the transaction". She asked me to verify ALL my personal imformation on file, and show ID - and when I asked why I was getting this 'special treatment" I was told that every so often the bank likes to make sure all of its customer records are in order. Totally unconvincing.

I said I had used this bank for 20 years and resented being treated like some kind of a criminal, or a money-laundering suspect, when all I was doing was making a simple deposit. I switched to a credit union within the week.

by Anonymousreply 2101/09/2013

R20 We are not going to hear from R15 again. Typical of DL, some asshole storms in, declares everyone is an idiot and liar and they are the true font of wisdom on such matters. They make some outrageous claim and when questioned on it the way R17 did, they promptly vanish never the be heard from again.

by Anonymousreply 2201/09/2013

Whatever you do, don't be a hard-working black man just trying to cash the bank's own cashier's check...

by Anonymousreply 2301/09/2013

Anyone have any experience with Credit Unions and this type of behavior? Some of these anecdotes in this thread made me sick to my stomach. Thank you for sharing.

by Anonymousreply 2401/09/2013

Thank GOD someone's SISTER is a teller! That's the kind of expertise that enriches the DL.

by Anonymousreply 2501/09/2013

Something about Credit Unions that may be worth mentioning. I work for an e-com company and oversee several sites. For almost a year now, we have been getting calls from customers who when using a credit card or debit card issued from their Credit Union have not been able to get the charge to go through. Turns out, some Credit Unions (but not all) have a restriction on where one can use the card. Purchases out of state or on line are blocked. The CU says its for security reasons and to prevent fraud. That sounds like a really lame excuse, but I really cant think of any reason why they would do this. A bank can not restrict how you use the card like that, but apparently CU are not regulated the same way banks are they are allowed to get away with it.

by Anonymousreply 2601/09/2013

Banks were JUST like that in the Third Reich!

by Anonymousreply 2701/09/2013

R6, that's the opposite of what happened to me. I closed my bank of america account that had $4,000 in it. The teller just looked at my drivers license casually. I thought they would give me a check or ask me if I wanted a check/money order. Instead she gave it to me in cash - in front of everyone. Who wants to walk around with $4,000 on them - especially after everyone in the bank heard her counting it out to me? I asked her for a cashier's check or some type of check and she was very mad and acted like I was being unreasonable. They charged me for it, but I didn't care. I just didn't want to get robbed

by Anonymousreply 2801/09/2013

I'm curious to know how you knew the amounts of the checks, OP.

It's unusual for them to have made such a fuss over a small account. However, they WILL check that kind of thing if a person is making a withdrawal or cashing a check in the same amount all the time.

Say he withdrawals or cashes a check for $400 every day. Those kinds of activities could indicate money laundering (an attempt to funnel a larger, illegal source of money through in smaller amounts).

I don't doubt some banks have been ridiculously overzealous lately, though. In Chicago, years ago, they wouldn't even let you start a checking account unless you had a score of 800 or higher on your credit report. Banks have done some very shitty things since the economic downturn.

by Anonymousreply 2901/09/2013

Who uses cash anymore? There are a bunch of troglodytes in this thread!

by Anonymousreply 3001/09/2013

r23, I knew before I even opened the link that it was probably Chase. I closed my accounts with them years ago because they were so nasty.

by Anonymousreply 3101/09/2013

R30 Out of over 30 posts, only two people have mentioned that they use cash. That is what you consider a "bunch"? Its a good thing you don't use cash, because it appears you don't know how to count.

by Anonymousreply 3201/09/2013

He told me, R29. Believe me, he was ready to vent, and I was pretty sure he would be. All I did was make an off-the-cuff comment, and he went off.

by Anonymousreply 3301/09/2013

What has always burned me about banks is that if you should close your account, for whatever reason, they charge you a fee. FOR TAKING OUT YOUR OWN MONEY! They have had the use of your funds to make investments and now you have to pay ransom for your own money. The other thing that gripes me is when the bank makes a checking mistake, AND THEY DO, they try to make you pay overdraft fees.

by Anonymousreply 3401/10/2013

[quote]I knew before I even opened the link that it was probably Chase

I did too, because I can read the title on a link.

by Anonymousreply 3501/10/2013

I've had good experiences so far depositing checks with my bank's smartphone app (it basically takes a photo of the front and back of the check). The money has been available the next day. Last year my bank also introduced check depositing at its ATMs. I'll never go into a branch again if I can help it.

by Anonymousreply 3601/10/2013

[quote] They put his drivers licence through a scanner, asked him why he needed cash, asked him about his cash-spending habits, and ran some kind of background check...then, he got his cash.

This never happened. EVER. As much of a pain in the ass banks can be, they don't and can't ask you about your reasons for needing cash.

OP is full of bullshit.

by Anonymousreply 3701/10/2013

I did a large cash withdrawal and cashier's check for a car last year. My bank went loco. They were indignant about it and finally, reluctantly, issued my cashiers check. The bank insinuated that I really should be doing a loan with them instead of paying cash for the car. I finally got it all taken care of and got out of there.

The bank has called me monthly since then, leaving vague messages, that they need to talk to me about 'something'.

When I returned their calls, they are either out, or too busy to take my call. WTF?

by Anonymousreply 3801/10/2013

Only poor people deal in cash now.

by Anonymousreply 3901/10/2013

R39 And your point is what? Because they are poor then they dont deserve to be treated with respect? Because they are poor they should be treated like criminals? Because they are poor, they shouldn't have access to the money they earned the way someone like Mitt Romney does(even though Romney really didnt earn his money)

by Anonymousreply 4001/10/2013

Sounds to me like the banks are making it difficult to get cash because they may be worried about a Depression-era run in the future if we have another financial meltdown, which I think will happen again since nothing has really changed since the last one in 2008. Credit Unions are better in my experience. As for the credit card issue, I always have a national bank credit card that I can use anywhere in the world. I just use my bank debit card for U.S. transactions under a certain amount.

by Anonymousreply 4101/10/2013

These stories make me love SunTrust more each time I read them. And why anyone would still be doing business with the likes of Bank of America is beyond me.

Asking you what you need your money for? Unbe-fucking-lievable. I often withdraw several thousand dollars in cash at a time from my checking account, withdraw at least one thousand or hundreds on a regular basis, and no one has ever questioned it. I like to have cash at home in case of - well, you know the zombie apocalypse or a banking 9/11.

A friend gave me a personal check for $5000 and I walked it to her bank and cashed it for cash with just showing my driver's license. No questions asked. I did not have an account at that bank either. It's the bank that took over from Riggs in DC whatever its name is.

I'm sure a lot of this bullshit people encounter is racist and classist.

by Anonymousreply 4201/10/2013

[quote]Only poor people deal in cash now.

Are you saying only rich people carry debt?

by Anonymousreply 4301/10/2013

No bank would ask, nor are they allowed to ask why you would need cash and what you'd do with it.

Yes, they're allowed to deny you cashing a check, even when it's drawn on their bank. That's dirty I think and should be against the law.

However, OP's story sounds like there's bullshit smeared all over it.. And in what town or city is it where OP was bold enough to go up to a stranger and begin asking about his personal financial dealings with the bank? Did the guy linger around as OP finished his/her business first? Or, did the OP get out of line and go chase the guy down?

I call bullshit.

by Anonymousreply 4401/10/2013

[quote] Only poor people deal in cash now

Don't be ridiculous. It's people with money who can do whatever the fuck they want with their money.

by Anonymousreply 4501/10/2013

I don't believe these stories. I've never had this issue with Chase.

by Anonymousreply 4601/10/2013

I've been asked what I was going to do with money I was withdrawing. I had transferred everything I had in stocks, money markets etc into my checking account when I was getting ready to buy a house because they needed to see that I had the assets in liquid before they would accept my offer. On the morning of the closing day, I went to BOA to get the certified check done and it took one teller, two managers and a lot of phone calls before they turned it over to me. And they did ask what I was planning on doing with the money.

by Anonymousreply 4701/10/2013

I was with Chase for over 25 years, and dumped them a couple of years ago. The ridiculous amount of petty bullshit they put me through is too lengthy to go over here, but boiled down to "bank policy, which we acknowledge makes no fucking sense,"

When I went to my local branch to close my Chase accounts (all six of them, including my business and an account for my mother's estate), they never questioned why I was leaving them. I asked the "customer service" clerk I was dealing with, "Do you care why I am leaving Chase after 25 years?" and got a shrug. That pretty much summed it up.

I now do all of my banking, including for my business, at a local large credit union. They're not perfect, but I am no longer nickled and dimed with ridiculous fees, don't have to deal with policies that have no purpose other than to annoy and inconvenience, and, when a problem does come up, one phone call to their main office always takes care of it.

I have also done my best to steer clients looking for banking arrangements away from Chase. Of course, BofA and Well Fargo aren't much better.

by Anonymousreply 4801/10/2013

If you go to Costco or Saks or Nordstrom or an equivalent, I think you might notice, as a generalization, that most customers pay with credit or debit card.

WalMart customers most likely pay with cash.

SaknSave:cash. Whole Foods: cards.

I really do think cash is now mostly reserved for the poor. They are often times unable to get a credit card or bank account.

by Anonymousreply 4901/10/2013

My mother is an elderly idiot. She got a phone call from a guy who said, "Grandma?" when she answered her phone. She then gave away the name of her grandson. The guy picked up and wnt with it, telling her he was in jail in Mexico City, he'd been in a car accident and broken his nose (which is why his voice sounded odd), he'd been beaten by police and he needed $2,000 cash wired to him, etc. He'd gone to MC when his friend decided to ge married there, to be his best man.

My mother went to the bank and withdrew the cash. They asked her if everything was ok and she made up some bs story. Then she went to Western Union to wire the money and the girl asked her, "Do you know who you are sending this money to?" My mother, who was nearly hysterical, screamed, "Of course I do! It's my grandson!" The girl said, "And you are sure this is your grandson? You're sure he is in Mexico City?" My dumb mother didn't get the hint.

Of course it was a scam.

The bank and the western union people were trying to suggest to her that she should really think about what she was doing.

She didn't.

by Anonymousreply 5001/10/2013

R49 Interesting that you totally avoid answering the questions posed to you. So maybe you can try again: Do poor people not deserve to be treated with respect? Should a poor person have to jump through hoops just to get to the money they earned?

I got four rooms of furniture delivered for free and didn't have to pay sales tax because I paid in cash. I guess I must be poor. I got 10% off my appliances because I paid in cash. I guess that makes me poor too. I pay my cleaning lady with cash. Certainly that must be because I am poor. I own my house free and clear and didnt finance it. Same with my car. Why? Because I am poor and bought them using cash.

by Anonymousreply 5101/10/2013

I would love for a bank teller ask me why I am withdrawing money. Let's see...

Going to buy drugs

Have to pay for a friend's abortion

Need to post bail for my mom. Again.

Buying a purebred Pekinese from a puppy mill.

Have to get my fur coat out of storage.

To pay library fines for overdue books.

To pay to have my pet frog cremated.

Have to get my guitar back from the pawn shop.

Paying a hypnotherapist to cure me of my Tourrettes Syndrome. WHOOOOOP OH BOY FUCK YOU WHOOP!

Oh the fun I would have!

by Anonymousreply 5201/10/2013

I own a number of apartment buildings. Those that are low-income, section 8 buildings have tenants that always pay their 30% rent portion in cash.

A middle income building only accepts checks or money orders for rent payment.

Many of my tenants report that they are unable to open bank accounts due to past irresponsibility conducting financial trasactions. Or they just cash out their EBT card for cash each month.

by Anonymousreply 5301/10/2013

This could be one of the reasons why the banks ask questions.

by Anonymousreply 5401/10/2013

I believe credit unions are better for many reasons, and will test that this morning when I go cash a money order at one.

the big box/big brother banks are a pyramid scheme and are up to their gangster pates in all kinds of shady shit.

consider this: they constantly take money that they should be giving you in interest or investment in the community, and spending it on brainwashing advertising and branding campaigns disguised as charitable corporate sponsorships.

move your money to a credit union or community bank. keep your money local. big box banks are as parasites, currently hoarding the bail out cash they extorted out of taxpayers.

by Anonymousreply 5501/10/2013

I haven't interacted with a teller in years. If I get a check in the course of business I simply write up the deposit slip and deposit via the ATM in the lobby. No fuss, no muss.

But I will say this, even if a check is DRAWN on Bank of America they WILL NOT cash it if you don't have an account with them.

It's ridiculous.

by Anonymousreply 5601/10/2013

Why do all you geezers love going into the bank so much just to deposit a fucking check? Use the atm. Problem solved.

by Anonymousreply 5701/10/2013

I was just paving and Belgian blocking a driveway in your neighborhood and I have a lot of leftover material. I'll pave your driveway for half price -- only $1800 -- if you give me the money in cash. Get the money for me today and I'll go get the stuff and bring it here and I'll have you done by tomorrow!

by Anonymousreply 5801/10/2013

Oh, for gods sake, R49, no one is talking about paying for everything in cash all the time. But the statement that only the poor ever handle cash is ridiculous.

by Anonymousreply 5901/10/2013

[quote] Why do all you geezers love going into the bank so much just to deposit a fucking check? Use the atm. Problem solved.

Yesterday the line was longer at the ATMs than it was inside the bank

by Anonymousreply 6001/10/2013

Back in the days before automatic deposits, I lost a paycheck in the ATM. Well, probably not physically in the machine, but it was never processed. Even though I had the receipt from the deposit, my company had to cancel that check and issue a new one, which took almost a week. The bank would not cover me, or act on my behalf by contacting the payroll department, even though it was 100% their fault.

by Anonymousreply 6101/10/2013

R56, BOA will cash a check drawn on it for a fee. A client made one of his payments to me via a cashiers/certified check from the BOA. He paid them money to write a check for the thousands he gave them. They still wanted money from me to make good on it. I was outraged and refused to pay the fee. I kept saying - so you refuse to honor your own check that you have already have the money in your bank to cover.

I wasted at least 30 minutes of their time with the teller and the bank manager before I walked out of the bank. I hope that cost them more than the $15 it cost my client to pay for the check to be drawn. I just walked a bit further along Dupont Circle and deposited it in my SunTrust account. I told them at ST what BOA tried to do and they told me they never charge a fee to cash one of their own checks.

BOA handled the DC court's accounts for witness and juror fees. They charged $5 a check to cash it - $5 for a $40 check. That's like 11 percent - that is usurous.

by Anonymousreply 6201/10/2013

I find this a little hard to believe. I am constantly changing banks to get a more favorable rate, closing accounts and depositing large checks nad cashing smaller ones. This has never happened. NOT ONCE.

by Anonymousreply 6301/10/2013

R63, it's probably the elder gays. The banks are afraid they're being scammed by the Nigerians or the Irish travelers or their fake grandchildren ..... or their real grandchildren.

by Anonymousreply 6401/10/2013

I bank with @ Chase, started out as a WaMu account - their fee structure kinda sucks, but I find Chase's staff really nice, and helpful. Almost ALL checks are available the next business day, so why you would want to pay BoA $15 I do not understand?

Years ago in my WaMu days, an acquaintance asked if he could sign over his unemployment check to me, and then I give him the money, saving him a check cashing fee? WaMu told me NO THIRD PARTY TRANSACTIONS - PERIOD! If my name wasn't on the payee line, don't even THINK about it!

by Anonymousreply 6501/10/2013

I'm buying a home.

The mortgage loan originator requested my bank statement to verify I have the 20% down payment. I told him I'd send it to him.

Then he said I would have to "source" the $40,000. to prove I didn't get it from selling drugs or laundering money.

Why do I have to explain where I got my money?

by Anonymousreply 6601/10/2013

Starve a bank, join a credit union.

by Anonymousreply 6701/10/2013

R66 because you are borrowing 80 percent of a home purchase price and want to verify you have a steady income.

by Anonymousreply 6801/10/2013

r68, I verified my source of income, too. I have pay stubs, W-2s, tax returns, etc.

Why does it matter where that $40k came from?

Has it always been like this?

by Anonymousreply 6901/10/2013

[quote] Why does it matter where that $40k came from?

Because if it came from being a drug dealer or other illegal activity, the real property could be seized by the government under asset forfeiture laws.

by Anonymousreply 7001/10/2013

THANKS, r70.

by Anonymousreply 7101/10/2013

My 83-year old dad tried to take 10,000 from his TIAA-CREF toward the end of the year, and he still hasn't gotten his money. They treated him like a criminal. They gave him the third degree. First, they said his signature didn't match which was bullshit, then they asked him why he needed the money and put him through the third degree.

It's been over a month and he's still waiting. He needs it to pay his taxes, and for medical bills. WTF's wrong with these people?

by Anonymousreply 7201/16/2013

R70 while its possible the bank may give that as the reason, logic tells me that reason is utter bullshit. Banks are not law enforcement agencies and its not their job to do what the police should be doing. There are tons of legitimate reasons why someone would have $40K. To automatically assume that sum of money could come from illegal activity and rule out any other reason is a bit of a stretch. Besides, even if the money was made from drug dealing, who would admit to that?

by Anonymousreply 7301/16/2013

Don't you all understand that there is no difference between big banks/big corporations and the federal government. Come on, wake the fuck up.

by Anonymousreply 7401/24/2013

[quote]I waited around so I could ask him what happened.

No, you didn't.

I can't believe so many people are falling for this obvious fairy tale. After being interrogated by his bank and furious about it, someone is going to voluntarily go into further detail about what happened behind closed doors with a complete stranger who admits to having watched him and waited for him to come out?

On the other hand, perhaps the guy needed so much cash because he makes a habit out of befriending strangers who watch his bank transactions and hang around "waiting for him" when he's done.

by Anonymousreply 7501/24/2013
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