quote:

Originally posted by urbanwarrior238:
Chase Bank is the worst. don't get me started on the issues I had with moms estate. Run..run..fast

Let me introduce you to Wells Fargo then, a new (lower)standard in a shi**y bank in all sorts of ways.

I use that card very infrequently, so far this year three times, all eBay and PayPal as my Chase card is on file with PP.

I use it only for eBay and occasionally to redeem the points at Amazon but twenty bucks in rewards so far doesn’t do much for my purchases there.

quote:

Originally posted by 220-9er:

quote:

Originally posted by urbanwarrior238:
Chase Bank is the worst. don't get me started on the issues I had with moms estate. Run..run..fast

Let me introduce you to Wells Fargo then, a new (lower)standard in a shi**y bank in all sorts of ways.

They had my mortgage for a few years until 2003. They lost me as a customer when they turned down my application for a re-fi as the loan officer felt that my balance was too low in relation to the house’s value and unless I doubled the requested amount he “wasn’t going to bother with it” (his exact words!)

Smooth tactics there. Changed mortgage companies and besides my business they lost more potential business from referrals. As of it mattered.

Wells Fargo should be closed down, when they opened those accounts without authorization to meet sales goals. The most despicable banking operation in existence, IMO anyway..

I stopped in at a Regions and asked for change for a $20. They wanted not just to see my ID but to take a copy. I said, "No, thanks." and just left.

quote:

Bank Secrecy Act (BSA)
The BSA requires banks to keep detailed records and report suspicious activity, such as large cash deposits. Banks are required to report deposits over $10,000 to the federal government.

Now, something just seems backward about that. The Bank Secrecy Act requires a ton of reporting.

Do these ID-required banks not have a night deposit or ATM? Yes, I have been asked to provide my ID for a scan at an ATM, but only rarely.

I have also had difficulties with Chase. Things like putting a multi-week hold on a check deposit that had already cleared the originating bank (USAA). Not that I needed to use the money, but they don't pay interest on uncleared funds (adding injury to insult).

It seems like a lot of banks are desperate for deposits these days. This based on the number of "open an account and deposit $10K and get $300 from us" offers I receive almost daily from dozens of banks. That's how I got involved with Chase in the first place. Then try to close the account and transfer the money to somewhere that pays a decent interest. Hurdles, barriers, and delays everywhere.

I have had, in the distant past, great experiences with in-person banking. Mostly at small neighborhood banks that have since been gobbled up by regionals and bigger conglomerates. These days, the expectation is that all banking should be done through electronic transfers with cash being a pariah. Just going to a branch has become a painful experience.

quote:

Originally posted by selogic:
I went to Chase Bank a couple of weeks ago with $36 in rolled coins . I just wanted to deposit them . I had to show ID . I guess the Feds are afraid I might be laundering money $36 at a time .

They don't want to handle coins at all.

I think these ID requirements at Chase are just some ID policy gone rogue and applied by mindless bureaucrats to all manner of transactions without thought. They may have origins in various federal bank regulations.

Well, total amount I’ve put on my Chase card this year has been about five hundred dollars so if I’m laundering money through here I better step it up a bit…..

We got tired of all the bullshit requirements at the Chase banks, especially when they were doing woke stuff. Some of the local facilities are also ATM machines only, which I refuse to use. So we threw them to the curb. We have little to no secrecy anymore with the feds sticking their noses into everything.

Once my wife got a nice bonus check from her employer, a highly respected mutual fund company with more money than most small countries. The check was drawn on JP Morgan, and we were trying to deposit it at Chase, in our account where we typically kept a good deal more than the check was worth. They put a hold on it and we nearly didn’t have the funds for closing on a house we were trying to buy.

Another time I was trying to buy an item from the classifieds here, using Zelle or Venmo (I can’t remember which) which was included with our joint checking account. They froze all our accounts with them, just before we were to leave on a trip out of country! When I got ahold of someone at Chase, their reason was that I didn’t normally withdraw funds from the accounts, unlike my wife. That was blatantly untrue, as I both wrote checks and used their ATMs. On our JOINT ACCOUNT.

Forgive my slight derailing of the thread but in view of it i have a few questions.

In my country/culture, people squirrels away what little savings they can manage in USD. Government practices by populists governments have been punishing for those using foreign currency and local practices have made it mandatory to stick to “big headed” 100 dollar bills, no small change.If you remember the financial crisis we experienced in 2001 you’ll understand that, while available, USD accounts are used only if unavoidable. Those old enough to remember do not Banks. Government has made sure our savings were completely depleted by unrestrained inflation, daily money depreciation, mandatory Lockdown. you name it.

So, if i were to have any USD, it would be in pristine 100 dollar bills. Traveling to the US, i sould take that, doing my best to avoid bank transactions that would result in nearly 100% special taxes for those using foreign currency.

Would those 100. USD be a problem or inconvenience?


PS: Back in 2001, a friend of mine that had won the Xmas jackpot, had over 250k at the bank and an impressive stack of every CC available at the moment.
When Government stopped the use of foreign currency and turned it into funny money, the bank called my friend to ask him to bring money to pay for his bills. He left the country and is living abroad with a meager pension.

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Nicky,

A hundred dollar bill is commonplace here. The only time that cash is a problem is when 10k or more is tendered for payment within certain time frames, at that time a Internal Revenue Service Form 8300 must be filed.

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Originally posted by shovelhead:

quote:

Originally posted by 220-9er:

quote:

Originally posted by urbanwarrior238:
Chase Bank is the worst. don't get me started on the issues I had with moms estate. Run..run..fast

Let me introduce you to Wells Fargo then, a new (lower)standard in a shi**y bank in all sorts of ways.

They had my mortgage for a few years until 2003. They lost me as a customer when they turned down my application for a re-fi as the loan officer felt that my balance was too low in relation to the house’s value and unless I doubled the requested amount he “wasn’t going to bother with it” (his exact words!)

Smooth tactics there. Changed mortgage companies and besides my business they lost more potential business from referrals. As of it mattered.

Wells Fargo is known as Well Fuckme in this area, I had a couple accounts that were older than I am, (parents first account I inherited, that was from one of the many banks that was absorbed by them over time) and my father had a business equity line thru them,
when he passed, we did the right thing and notified the bank, who immediately stopped sending me statements/bills on the equity line, (but allowed us to continue banking with the business checking) and sent it to collections,

took 6 weeks to get a payoff number, and the corporate folks were not only shitty to me, but also shitty to the branch manager I was working with, (it was the branch we did most of our walkin business)

they later fucked up my access to my own business account, and when I tried to get them to fix it, they said they would have to close the account to get me back on it, and that because the business was a firearms related business (FFL/SOT) they would not open an account for me,,


we are now with a regional bank that loves firearms,

quote:

Originally posted by shovelhead:
Nicky,

A hundred dollar bill is commonplace here. The only time that cash is a problem is when 10k or more is tendered for payment within certain time frames, at that time a Internal Revenue Service Form 8300 must be filed.

The 10 Grand rule applies also for entering or leaving the country.

Haven’t visited the US since 2003, the crisis broke my financial back and never recovered until now. Back then plastic already ruled and some places looked at me funny when i tried to break a C bill for groceries, etc. It was manageable or i handed the cash to my nearest friend…. No CC card for reasons explained above.

Still the same or worse?

Last trip i had just $400 for two weeks stay. Free ticket traded for miles, B&B covered by a friend and a Tactical / Concesled Carry Instructor Course at Sigarms (for a song) were the object of my visit. Good times.



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I had a weird one also awhile ago.

Needed quarters to do laundry at a coin-op place.
I could have paid with an app. NOT going to do that.
So off to the bank. I hand a teller a $20 bill asking for rolls of quarters.

She wouldn't do it unless I showed ID!!!

I'm exchanging US currency for smaller units. My ID has no bearing on the transaction.
I walked out, going to a grocery nearby who did the exchange without question.

I "think" all the problems reported in this thread are with Banks. I've had a few myself, but for the last 40 years (+/-) I have used a Credit Union.

I used one particular Credit Union for over 35 years that most everyone at work used. I got ticked off at them over something so minor I've forgotten what it was, and withdrew my checking and savings and switched to the Credit Union my wife has used since the early 80s. They've been fine so far, though I miss the first one where the clerk usually knew my name when I walked in, but, sadly, I burned that bridge.

I don't know if you folks have had an equal amount of problems with credit unions or not, but most of the folks I know in my area use credit unions. Maybe it's just a local thing.

Bob

When I asked about the ID issue at various places, they all said "Patriot act" requires them to know ID for all transactions. When asked about someone paying my bill for me, they said, "How do we know if bribery or other crimes are involved?". Implying that if willing to show ID, nothing nefarious is occurring.

I got the same treatment going to Wells to pay off my wife's credit card.

As far as I understand, reporting requirements under the Bank Secrecy Act are summarized here: https://www.fincen.gov/sites/d...sa_quickrefguide.pdf

The IRS will even go after you if you show a pattern of trying to avoid these thresholds. They call it "structuring."

New laws requiring reporting of earnings to the IRS, at $600 or more, kick in this year. I think this includes transactions on eBay.

Anyone referencing the Patriot Act for ID on all transactions is full of BS. Innocent until proven guilty.