The Conservative Cave
Current Events => The DUmpster => Topic started by: franksolich on September 16, 2009, 01:23:50 PM
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http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x6561944
Oh my.
peace13 (1000+ posts) Wed Sep-16-09 12:30 PM
Original message
I had a weird thing happen at the bank this morning.
I went into a bank that I have been doing business with for over twenty years and walked up to a teller that I have done business with for at least fifteen years. My mission was to move payroll money from savings to checking, an amount and process that I have done every month for at least fifteen years.
I gave the teller my deposit and withdrawal slips and all of the appropriate paperwork. She took it and entered them into the system. We waited and waited and waited and finally I said, 'If I didn't know the money was there you would be making me nervous.'
Her reply was that she was no longer allowed to transfer the amount I was asking to move, and was waiting for the manager to come over and OK the transaction. It has come to this? My deposits in that bank were ten times the amount of the transfer!
I can't wait for the day when the manager says that I can not get access to my funds. I have pondered many things about the position we are in but this was not one of them. I walked out with an eerie feeling that I doubt will ever pass. I am beginning to understand why the folks who lived through the first Depression never had the feeling leave them.
Well, if one is a primitive, it's good for the bank teller to be wary.
The skumbag primitive:
Ian David (1000+ posts) Wed Sep-16-09 12:37 PM
Response to Reply #1
7. They SAY it's to prevent terrorism and drug trafficking.
I'm pretty sure it's REALLY so they can make money off the float period somehow.
So THEY can earn interest off the check for a few days before they let YOU have the money.
Sanity Claws (1000+ posts) Wed Sep-16-09 12:34 PM
Response to Original message
2. You think this has to do with the bank's liquidity?
You may be right. I just thought of all the regulations regarding transfer of $10K or more. A lot of these regulations were put in place allegedly to catch drug transfers.
slackmaster (1000+ posts) Wed Sep-16-09 12:38 PM
Response to Reply #2
8. The regulations for reporting transactions of more than $10K apply only to currency
I've been out of the business for almost 20 years but I'm not aware of any government-imposed regulations regarding transfers from one account to another within the same instituation.
Old Codger (926 posts) Wed Sep-16-09 12:52 PM
Response to Reply #8
18. Cash only
That $10,000 report is for cash only I regularly cash checks for more than that and never run into any reporting requirements....
peace13 (1000+ posts) Wed Sep-16-09 12:40 PM
Response to Reply #2
9. Homeland Security had issues as well.
She seemed to act like it was a bank thing. This is a small local bank that has always had good ratings so it was all very odd. When I told her that I didn't take it personally she said the she did! After the Patriot Act bull*hit was initiated I was very vocal at the bank about the regulations. They used to give me the eye for speaking out. It is strange to see that the folks on the other side of the counter have finally woken up!
The cross-bearing carpetbagging maternal ancestress, who's burning the Bostonian Drunkard's inheritance:
Raven (1000+ posts) Wed Sep-16-09 12:36 PM
Response to Original message
3. I had another strange bank experience...
I went to make a deposit. The check was substantial and was from my stock brokerage account. The teller asked me if I had been expecting the check. Strange question. I said "of course, why do you ask?" She said because of fraud problems they check everyone who makes a large deposit...she had to get the manager's signature.
The defrocked warped primitive who as a nurse used to have access to controlled pharmaceuticals in a mental hospital:
Warpy (1000+ posts) Wed Sep-16-09 12:47 PM
Response to Original message
16. My dad sent me a check one year that was a reasonably hefty amount. They called the assistant manager, the manager, and then called the head office downtown just to let me deposit the whole thing.
I can see a problem if I was cashing a check like that, especially since this area has a bad reputation for crime. However, depositing it? There was no need for harassment, they could have done any paperwork later.
I told my dad to write smaller checks after that one.
That was ten years ago.
About the time the unfrocked warped primitive lost her nursing license, apparently.
The wired gassy primitive, from the farmette up in Wisconsin:
grasswire (1000+ posts) Wed Sep-16-09 12:53 PM
Response to Reply #16
19. my sister got a retirement account payout from Fidelity
It was only $7,000. Bank of America put a TEN DAY HOLD on the funds. From freaking Fidelity.
RebelOne (1000+ posts) Wed Sep-16-09 01:07 PM
Response to Reply #16
21. That is strange. I made a deposit last year of about $11,000 from a 401K account I closed. I deposited it at the ATM. Money appeared in my account the next day with no holds on it. Of course, I deposited it into my savings. And this was Bank of America, who others here seem to have had problems with.
katkat (284 posts) Wed Sep-16-09 01:23 PM
Response to Reply #16
24. Years ago I carried a fairly humongous check (retirement cash out from a company I was leaving) into a bank I had dealt with for years. You'd have thought I was about to defraud every employee in the place.
MarthaM (13 posts) Wed Sep-16-09 12:49 PM
Response to Original message
17. It's probably just a new internal policy...
... that has nothing to do with you and more to do with internal security. The bank I worked for for years would sometimes change its policies like that, limiting what someone who was at the teller level could do. It got to the point where a supervisor had to look at any check, transfer, or w/d over $1000. It's really more for the customer's protection to prevent errors and identify theft and internal fraud. Also, if a customer did more than 3 transactions in a day (and that including PIN w/d or transactions), a supervisor approval was required to be sure it was actually the customer doing the transaction.
It probably had nothing to do with CTR reporting or anything like that. It doesn't sound like a transaction that falls under that.
imdjh (1000+ posts) Wed Sep-16-09 01:44 PM
Response to Original message
26. Welcome to Riggs Bank. I sat at Riggs and watched 4 out of 10 people have to talk to a mgr. to get their own money.
Seriously now, I'm sure it's a good idea for bank tellers to be a little leery of "customers" from Skins's island.
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Happens all the time at all of the banks I use.
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Wow, Warpy seems to be sponging off of Dad quite a bit, doesn't she?
These goons are all over-reacting and also exaggerating. They're snowballing their stories off of others. At any rate, don't they know that identity theft is rampant? High levels of care and caution have to be used in dealing with cash. No. 7 from Ian David was just plain stupid. There's no "float" in waiting a few moments for a manager.
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I made a deposit last year of about $11,000 from a 401K account I closed.
I would never use an ATM to deposit a check in that amount!
And has the idiot OP never heard of on-line banking? I can transfer money between account with a couple clicks of the mouse.
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Actually, it's amounts of $5000 or more nowadays and it doesn't only apply to currency. There was a story of an older couple that paid off their Visa Card ( or some such other major credit card) and they received a visit from the authorities interrogating them as to where the money came from, etc.
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Paranoid dumbasses.
Many banks have systems that require manager approval over a certain limit specified by internal policy.
If it was a new teller and/or the teller processed the transaction as cash rather than non-cash xfer then approval may have been required to make sure a new teller is correctly processing and/or within their stated limit.
oy!
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There may also be a garnishment or other court order in effect. We are dealing with a DUer here.
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Could be a trigger at the bank due to the customer history too.
I had a former girlfriend who banks at the same place I do was always over drafting with her debit card. I don't think a month went by where she didn't pay less than $100 in overdraft charges. Of course she often complained about how she would make a deposit and only a portion was available immediately and the rest a few days later.
I never bounced a check or paid anything in overdraft changes and any deposit I make is available immediately.
I'll bet if you look back at old posts you'll find one where the op was complaining about overdraft changes.