Cash not good anymore .. Deposit Only …

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Commander of Awesome's avatar

Commander of Awesome

Senior Pwner

23,151 posts
Jan 13, 2014 1:42 PM
Next time threaten to close all of your accounts and move your business to a competing bank.
Jan 13, 2014 1:42pm
M

MontyBrunswick

Jan 13, 2014 1:53 PM
Belly still living in 1981 and going through the teller instead of using an ATM.

Also, I had no idea you could even deposit money into an account that wasn't yours. I can think of reasons why one would do it, like someone already mentioned (parents giving college kids money) but 99% of those people would just write a check or wire the money, not directly deposit cash.

I don't see the big deal.
Jan 13, 2014 1:53pm
rmolin73's avatar

rmolin73

Senior Member

4,278 posts
Jan 13, 2014 1:54 PM
TedSheckler;1566610 wrote:I can't remember the last time I talked to a teller. All my business is done via ATM. Deposits (cash and checks), withdraws, etc. Screw dealing with people.
This
Jan 13, 2014 1:54pm
G

Gblock

Jan 13, 2014 1:57 PM
5/3 and chase both allow you to deposit cash and checks too as long as you arent getting any money back without an ID
Jan 13, 2014 1:57pm
TedSheckler's avatar

TedSheckler

Emporium Entrepreneur

3,974 posts
Jan 13, 2014 2:00 PM
Gblock;1566632 wrote:5/3 and chase both allow you to deposit cash and checks too as long as you arent getting any money back without an ID
Chase allows cash back, as long as it's under like $100. They make that immediately available.
Jan 13, 2014 2:00pm
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MontyBrunswick

Jan 13, 2014 2:02 PM
Belly's trust in the banks is going out the window. He's going to withdraw all of his money and bury it in his backyard with the incandescent light bulbs
Jan 13, 2014 2:02pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jan 13, 2014 2:10 PM
TedSheckler;1566633 wrote:Chase allows cash back, as long as it's under like $100. They make that immediately available.
So does 5/3
Jan 13, 2014 2:10pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jan 13, 2014 2:11 PM
raiderbuck;1566615 wrote:Chances are the teller has to record the I.D. that was presented at the time. Even though there are no "higher ups" around, she still would need to put that info down because that information is audited. Copying the I.D. serves little purpose because primary I.D. can be changed or faked.
Yep. The teller documents the id in the system. I can go into a deposit and see the persons name, id info, etc.
Jan 13, 2014 2:11pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jan 13, 2014 2:13 PM
Commander of Awesome;1566625 wrote:Next time threaten to close all of your accounts and move your business to a competing bank.
Unfortunately, this.

I've brought in accounts to 5/3 with hundreds of thousands of dollars only to be closed out because they wanted a mortgage done in 14 days. Or the teller didn't cash their check. Whatever reason. If you threaten to close your account, the banker will more than likely comply.

Although with something like this, where policy is involved, I don't see anything to comply to. You either need to deposit to your account or you can't deposit at all.
Jan 13, 2014 2:13pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jan 13, 2014 2:16 PM
Gblock;1566617 wrote:go thru the atm...problem solved...
How are you going to deposit into someone else's account from an ATM card with only your name on it?
Jan 13, 2014 2:16pm
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MontyBrunswick

Jan 13, 2014 2:17 PM
SportsAndLady;1566640 wrote:If you threaten to close your account, the banker will more than likely comply. .
In a situation such as this (government policy) I don't see what threatening to close your account will do, except make you look like a whiney bitch.

Isn't it against the law for them to do the deposit?
Jan 13, 2014 2:17pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jan 13, 2014 2:21 PM
dlazz;1566642 wrote:In a situation such as this (government policy) I don't see what threatening to close your account will do, except make you look like a whiney bitch.

Isn't it against the law for them to do the deposit?
Yep read the last part of my post.

I mean in a situation like this..

You: please reverse my overdraft fee as I have 25k with you and feel it should be a courtesy waive.

Banker: no I can't.

You: well then please issue me a cashiers check for my full balance and close my accounts.

Banker: od fee is waived!
Jan 13, 2014 2:21pm
said_aouita's avatar

said_aouita

Banned

8,532 posts
Jan 13, 2014 2:32 PM
SportsAndLady;1566641 wrote:How are you going to deposit into someone else's account from an ATM card with only your name on it?
It's Belly's wife. Mrs. Belly can give Belly her ATM card.
Jan 13, 2014 2:32pm
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MontyBrunswick

Jan 13, 2014 2:32 PM
SportsAndLady;1566643 wrote:Yep read the last part of my post.
Missed it somehow. I'm a moran.
Jan 13, 2014 2:32pm
DeyDurkie5's avatar

DeyDurkie5

Senior Member

11,324 posts
Jan 13, 2014 3:31 PM
Belly35;1566574 wrote:My wife and I have several banking accounts between three different banks.
Some account I’m not listed and the same for her.
We have been doing business with this one bank for years the teller know our names and we visit this bank almost every Saturday morning with deposits together.

So the wife hands me some cash and a deposit slip that she need deposited this morning. NOT A PROBLEM

On my way to the office (really breakfast) I pull into the drive up window, place the cash and deposit slip in the tube.
Teller: Hi Belly … can I see your ID
I’m thinking.. you know my name and who I am
Belly: You need my ID .. why?
Teller: With cash deposit we have to verify
Belly: It’s a “deposit only” cash into a well establish account….
Send her my ID
Teller: Belly We can deposit this , you’re not on the account
Belly: I know that .. we’ve been doing this for years
Teller: New policy
Belly: So let me understand this. I’m giving you cash, deposit only, into a establish account, where we have multiple accounts with substantial amount, you know who my wife and I are and now you can’t make this transaction.
Teller: Your wife will have to put you on the account or she will have to make the deposit.
Belly: I know you did make this rule/policy change… But could you please tell the manager I would like a call with the name of the asshole who came up this change. Please mention that if my cash and my wife cash is good to be deposited .. it’s cash, the currency of America.
. Please send me back the deposit slip and cash..
Teller: Here is a flier of the policy changes also
Belly: What happens if I would have dropped this in the night deposit?
Teller: We would have deposited but not until tomorrow.
Belly: Really . Does it benefit the Bank to get as much money in as deposit, to start gaining interest?
Teller: I don’t know. But Mr. Belly all banks will have to have this policy...
Belly: So this is something that you've been told to do by the Goverment?
Teller: I think so
Note : was nice to the teller, she just the front line person and she knew this was an stupid policy. Common sense would tell you this..

This is crazy … ”Deposit only “cash is not good anymore…if you’re not on the account

Thoughts and Opinions?
I would suggest you quit whining like a little bitch when you don't get your way and have your wife put your name on the account. Simple as that. You sound like all those Obama followers.
Jan 13, 2014 3:31pm
R

raiderbuck

Senior Member

1,623 posts
Jan 13, 2014 4:01 PM
Belly, do you bank with a big bank (Chase, Wells, BofA, etc?) or are you with a smaller bank? I'm curious to see just how many banks are rolling this out now. I know that the big boys will be doing this soon, but I wasn't aware of any smaller banks participating in it yet?
Jan 13, 2014 4:01pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jan 13, 2014 4:03 PM
Yeah I'm curious as well.

Usually we get a memo weeks in advance when were gonna roll something out like this. I've got nothing.
Jan 13, 2014 4:03pm
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Jan 13, 2014 4:25 PM
When some of you grow up and understand that having multiple accounts without having me or my wife listed is to protect us from, losing thousands in case of a sudden death of one of us, multi accounts prevents loss of funds from fraud or banking error, if one account is locked we have a variety of resources from other accounts. If you don't start to think further than a ATM you someday could find yourself with out options. If you don't make enough to open multi accounts stfu. Married couples, business owners, two income families, families with a mortgage, parents with kids and even single individuals protect your resources to have access to your money. Moving our funds around helps to confuse the IRS.

direct deposit of cash means instant access to the increase value of the account.
When the kids where in college or getting start working and they needed immediate funds direct deposit of cash provide instant check writing or credit to the account.

think of multi accounts and direct deposit of cash as your own line of credit ... Hope this helps
Jan 13, 2014 4:25pm
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Jan 13, 2014 4:28 PM
raiderbuck;1566692 wrote:Belly, do you bank with a big bank (Chase, Wells, BofA, etc?) or are you with a smaller bank? I'm curious to see just how many banks are rolling this out now. I know that the big boys will be doing this soon, but I wasn't aware of any smaller banks participating in it yet?
case, wells, first merit and charter. I don't if this is policy for wells, merit and charter but I will know by tomorrow
Jan 13, 2014 4:28pm
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Jan 13, 2014 4:32 PM
DeyDurkie5;1566676 wrote:I would suggest you quit whining like a little bitch when you don't get your way and have your wife put your name on the account. Simple as that. You sound like all those Obama followers.
when you wake up and willing to listen an learn you will understand why those who have earn prosperity have multi accounts without their spouse listed... Poor people are clueless they just buy pit bulls
Jan 13, 2014 4:32pm
M

MontyBrunswick

Jan 13, 2014 4:33 PM
Belly35;1566697 wrote:think of multi accounts and direct deposit of cash as your own line of credit ... Hope this helps
It's not a line of credit. It's equity.

Hope this helps.
Jan 13, 2014 4:33pm
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Jan 13, 2014 4:38 PM
SportsAndLady;1566693 wrote:Yeah I'm curious as well.

Usually we get a memo weeks in advance when were gonna roll something out like this. I've got nothing.
maybe it can in the mail during Christmas along with the other junk.... Who knows but we as customer are to keep up with everything .. Like we as citizen don't have nothing better to do than to read junk mail daily...
Jan 13, 2014 4:38pm
Belly35's avatar

Belly35

Elderly Intellectual

9,716 posts
Jan 13, 2014 4:44 PM
dlazz;1566703 wrote:It's not a line of credit. It's equity.

Hope this helps.
equity ...wtf

Its my accounts and my cash moving from one account to another of my accounts .. My own personal line of credit
I'm transferring my funds to my accounts or my wife accounts providing her or I with addition immediate funds to purchase something... I never as the bank for anything other than normal standard business service
Jan 13, 2014 4:44pm
SportsAndLady's avatar

SportsAndLady

Senior Member

35,632 posts
Jan 13, 2014 4:45 PM
Belly35;1566706 wrote:maybe it can in the mail during Christmas along with the other junk.... Who knows but we as customer are to keep up with everything .. Like we as citizen don't have nothing better to do than to read junk mail daily...
It wouldn't be a piece of mail. Lol

We would get a memo in an email and then there would be a conference call to go over how to handle it.
Jan 13, 2014 4:45pm
Iliketurtles's avatar

Iliketurtles

Senior Member

8,191 posts
Jan 13, 2014 4:52 PM
SportsAndLady;1566711 wrote:It wouldn't be a piece of mail. Lol

We would get a memo in an email and then there would be a conference call to go over how to handle it.
I don't think he understood you work at a bank...

Belly, how does not having one of you on each other's account save you thousands in case one of you die?

Also why would you want to confuse the IRS that will just create questions and leave you with the hassle of having to deal with them.
Jan 13, 2014 4:52pm