(Topic ID: 313545)

Cash transactions and the bank

By mbrave77

2 years ago


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Topic Stats

  • 123 posts
  • 63 Pinsiders participating
  • Latest reply 10 months ago by Crash
  • Topic is favorited by 4 Pinsiders

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    #22 2 years ago

    And they asked for an ID, right?
    My bank started requiring an gov ID to prove I'm the person who is making the deposit or some such bs.
    Even though; it's my account... I'm using my deposit slip... and probably used their bank card to "sign into" the account at the teller.

    I was quiet angry when the did that to me.. I actually made the bank manager come out to my car (in the drive thru) making it clear I wasn't happy that I was depositing cash (less than 600) - the currency of the united states into my account with my deposit slip. And they had the gall to require my id?
    When did it become "ok" for banks to require an ID to transact currency in the account you own?

    I think they made some bs comment about criminals laundering money or some such jazz. I'm sure someone here will point to a "law" which the government enacted that this policy is based upon... but honestly, I'm with the op and others that it's BS.

    #53 2 years ago
    Quoted from DRDAVE:

    Sounds like big bank bs like bank of America or Santander.

    Correct. I had the account when it was washington mutual whom was bought by Chase shortly after I moved to TX.
    Chase is the arsehats with that policy.

    I should just move my checking to Austin Telco where I have my refi-ed Truck loan... but alas, they know I'm lazy and they haven't pissed me off enough yet to make the jump.

    The id thing pissed me off at the time... but the more concerning matter is that with my local branch; i have to be careful about using the lobby during "quiet periods" because they have too many "personal bankers" whom run interference for the sole purpose of trying to ensure I have all the product they can offer me. It very much feels like a used-car-salesman atmosphere.
    Hasn't happened since Covid started; but if it returns... that might be the straw that forces a change.

    1 year later
    #82 10 months ago
    Quoted from Spyderturbo007:stop offering 0.3% in interest.

    Much agreement. My current "escrow account" via a well known internet bank offers 3.5% apy. They get all my savings funds.

    Quoted from Crash:

    permanently take a portion of your balance out of your account to improve their liquidity if the bank

    That seems to be written poorly. They can't seize funds from your account. Right?!

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