Shortly after college once, I was flat broke. My father decided to loan me some money to get me through. I tell him how bad the banks down here in South Florida are and he says: don't worry I'll fedex you a cashier's check. So the next day when I get it I go to my bank, deposit it and try and do cash back of $50. Since I only had about 30 cents at the time. They wouldn't give me $50 cash back on a CASHIER'S CHECK!!! I threw a fit. Stormed over to the bank manager's office and after letting her have a piece of my mind, I said, well just close my account then. I took the check down the street to 2 other banks where I asked the manager's at each if the same thing would happen to me there. The first bank said yes and I kept walking. The second said no they wouldn't. I opened my new account there. That bank was bought by another bank, which was bought by another bank etc, etc. etc. The account is now a Bank of America account. But I do not endorse them, I think their policies towards non-customers are NAZI like. They can't use the drive up, they get fingerprinted, and there is a charge. I certainly would not recomend them to anyone in your situation. I think you should do like I did and just go from bank to bank telling them what you need. You'll find one.
"Don't bother just to be better than your contemporaries or predecessors. Try to be better than yourself." - William Faulkner NoEbayAuctionsForNow
If you deposit or cash in rolled coin banks will ask you your account number or if you have no account there your name. They write it on the roll. They do this rather than make a customer wait while they check and count out every roll. If later they find out the roll was misrepresented, short or more they make adjustments to your account. If rolls continue to show up short with the persons name on it, sends up red flags.
One of our branches that was surrounded by late night establishments who made night deposits was always making adjustments to the deposit both on the currency and coin.
Rarely does a client request Sacs nor did the bank I worked for stock any. It wouldn't be unusual at all for a teller never to see one or know what they are. Why should they? I doubt that they would cry big crocodile tears if you didn't open an account, the reality is 20% of their customers account for 80% of their profit. Most checking accounts are loss leaders.
<< <i>Dump them and open an account with Bank of America. >>
I've been with BofA since I opened my business account 16 years ago. Of course, the branch wasn't BofA back then. My experience with them has been pretty good, but it's more a matter of the staff then it is the institution. My branch seems to be able to hire and keep good people.
I'm not condoning rude behavior at all, but sometimes rude behavior is in the eye of the beholder. We don't have the tellers side of this situation. Why didn't you go to your bank where you have a relationship? They are providing you a service and you are paying for it (one way or another, minimun deposits, etc.). I've never understood why anyone thinks a bank should provide a service for free? They are a "for profit" company. Maybe they asked your name so they could politely address you by your name. Why the negative assumtions? And no, I don't work for a bank or have anything to do with the banking industry. MS70, you want him to lie?? He was NOT considering opening an account there. If he wants to complain, he can certainly do so, but don't lie about it. So the lowest paid employee in the bank, and possibly new, doesn't recognize a coin that is not commonly circulated?? Get over it! You'd be amazed how a smile and common courtesy will get you treated the same way in return most times, especially by the lower paid employees anywhere. Try it!!
I wouldn't go in there if they paid me. BTW, they charge a 3% fee on check cashing if you are not an account holder and they will not cash a check or give you a withdrawal greater than 5K even if you ARE a freaking account holder. Now mind you, this is Houston and it may be different elsewhere.
The only way to get any type withdrawal greater than 5K in cash here is to go to the downtown branch, which may be an hours drive depending on where you are, of course that's only when you have an acount there.
Several years ago I did a great deal of contracting with a fellow who banked there. I was always going in with checks for between 5 and 15K once to twice a week. I needed cash for my business. I had no problems with fingerprints, IRS forms, etc. They simply wouldn't let the cash go.
Somewhere during my business dealings with this fellow, they started this policy. I called him up on my cell phone from the lobby and he steamrolled in there beet red and pissed about 15 minutes later. He went straight into the manager's office, no waiting, just stormed in. Gave her an ultimatum. She would cash checks written to me or his entire operation(which covered several cities and B of As across Texas would be closed that day. I know he did hundreds of millions in deposits with them annually. She made one phone call and got a waiver for me and my driver's license number for any amount with no fees. Even through it all she looked like she had sucked on a lemon the entire time and was rude to me and cold to my buddy with the accounts.
Finally, at the end, she suggested I get an account with them. I just laughed and said after what I'd seen today, that would NEVER happen. It never has and it never will. She even had the gall to suggest I shouldn't be carrying so much money on me!! As if she was doing me a favor....... I'm still so angry with those people I can't type this without getting mad.
I contracted with that guy for another couple of years or so and it always made me so angry to see lines of regular laborers there on Friday afternoon getting ripped for 3% on their pitiful pay. All I could think about was their families, children, etc. and BofA sucking the milk right out of their bottles. Those people are evil! Even today, I refuse to accept a check written on their bank. I just tell the person to give me cash or some other form as I won't even deposit one of their filthy pieces of paper into my accounts.
Since I have an incorporated business now, I get offers and CC apps from them all the time. I always send back their metered envelope with my standard form letter telling them of my experiences and how disgusted I am at their treatment of regular working people. At least I'm costing them some postage and they are so foolish they keep sending me stuff. When I think of the term, "evil moneychangers", Bank of America is all that fills my mind.
OK, I'll step down off the soapbox now, but people need to know that even if BofA has changed in other areas of the country, they haven't changed in Houston and they are stealing thousands weekly from the poorest of the working poor. I don't care if they've cleaned up their act or not, they've commited far too many sins for me to ever forgive them. Somehow, I get by with my credit union just fine.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
If you take a check to a bank made out to a company they have no way of knowing if you have the authority to cash it. We had a policy at every bank I ever worked at that we would only deposit corporate checks. A business is required to fill out a corporate resolution if they are incorporated which indicates that the board of directors authorized you to negotiate checks. Same thing for a partnership and dba. So how would a bank that you don't have an account with even with a drivers license know you have that authority? Company checks are stolen all the time, one of the most common types of fraud. You don't think licences and other forms of ID are faked?
I was trying to think of how many times a nonclient or client asked for large amounts of cash as rarely does it occur and when it does it sends up red flags. The few times when a client would want large amounts of cash we would ask them to call a couple of days ahead of time so we could make sure it was there. Banks have to order cash and have to estimate needs from week to week. They just don't leave cash sitting around for 2 reasons, one the danger of theft and two cash is not an earning asset for a bank. It costs them money to have cash sitting around not working.
99.9999% of legitimate businesses don't deal in large amounts of cash and good owners of companies understand and appreciate the bank is also protecting them with these type of requirements. I could type for hours about employees who stole money from their companies because the owner wasn't smart enough to understand that risk abounds out there. Tell me another for profit industry that literally gives away with little cost or none many of its services.
I had the same problem in 1990 with Conn Bank & Trust. I had a DBA account with them for several years with an ave balance of $50K. The first time I asked for a bank check they charged me $15 or something. I discussed it with a bank rep and then proceeded to pull all my accounts from them that week and took it all right next door to the other bank. Been there ever since. They lost several major accounts over $15.
Reading all the bank stories made laugh and cry. The message I got was the importance of discussing banking charges and policies with the bank when you establish your account. I am sure you can find another bank that will be more accomodating.
<< <i>they will not cash a check or give you a withdrawal greater than 5K even if you ARE a freaking account holder. >>
I've never had that problem at my branch of BofA, and I've withdrawn as much as $15K in cash. Did have to fill out the IRS form, but that isn't something they made up.
<< <i>they will not cash a check or give you a withdrawal greater than 5K even if you ARE a freaking account holder. >>
I've never had that problem at my branch of BofA, and I've withdrawn as much as $15K in cash. Did have to fill out the IRS form, but that isn't something they made up.
Russ, NCNE >>
Russ, they will, but only if you go downtown to the main building which for most people could be a hour plus to get there and back, perhaps longer.
They claim they don't keep that much cash, but that's just a ruse. I've been there on a Friday when the line of laborers and regular folks who need to cash their checks has gone out the door and into the parking lot.
I have no doubt that they are different in other areas because if they were this way nationwide, they'd be out of business. They do it here because they can. Every day extra they keep that cash they draw interest on it. The customer is regarded as an intrusion at B of A in Houston. Perhaps it's the demographics as we have so many illegals down here, they just figure they can treat non account holders in any manner thay like. They aren't much better towards account holders either. I will probably always hold them in disdain for their actions. I know of several people who have left them with their accounts simply because they are universally rude and act like they are doing you a favor when you show up at the teller window.
"Lenin is certainly right. There is no subtler or more severe means of overturning the existing basis of society(destroy capitalism) than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and it does it in a manner which not one man in a million is able to diagnose." John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
Comments
Shortly after college once, I was flat broke. My father decided to loan me some money to get me through. I tell him how bad the banks down here in South Florida are and he says: don't worry I'll fedex you a cashier's check. So the next day when I get it I go to my bank, deposit it and try and do cash back of $50. Since I only had about 30 cents at the time. They wouldn't give me $50 cash back on a CASHIER'S CHECK!!! I threw a fit. Stormed over to the bank manager's office and after letting her have a piece of my mind, I said, well just close my account then. I took the check down the street to 2 other banks where I asked the manager's at each if the same thing would happen to me there. The first bank said yes and I kept walking. The second said no they wouldn't. I opened my new account there. That bank was bought by another bank, which was bought by another bank etc, etc. etc. The account is now a Bank of America account. But I do not endorse them, I think their policies towards non-customers are NAZI like. They can't use the drive up, they get fingerprinted, and there is a charge. I certainly would not recomend them to anyone in your situation. I think you should do like I did and just go from bank to bank telling them what you need. You'll find one.
NoEbayAuctionsForNow
One of our branches that was surrounded by late night establishments who made night deposits was always making adjustments to the deposit both on the currency and coin.
Rarely does a client request Sacs nor did the bank I worked for stock any. It wouldn't be unusual at all for a teller never to see one or know what they are. Why should they? I doubt that they would cry big crocodile tears if you didn't open an account, the reality is 20% of their customers account for 80% of their profit. Most checking accounts are loss leaders.
<< <i>Dump them and open an account with Bank of America. >>
I've been with BofA since I opened my business account 16 years ago. Of course, the branch wasn't BofA back then. My experience with them has been pretty good, but it's more a matter of the staff then it is the institution. My branch seems to be able to hire and keep good people.
Russ, NCNE
My #1 Low Ball Peace Dollar Set
I wouldn't go in there if they paid me. BTW, they charge a 3% fee on check cashing if you are not an account holder and they will not cash a check or give you a withdrawal greater than 5K even if you ARE a freaking account holder. Now mind you, this is Houston and it may be different elsewhere.
The only way to get any type withdrawal greater than 5K in cash here is to go to the downtown branch, which may be an hours drive depending on where you are, of course that's only when you have an acount there.
Several years ago I did a great deal of contracting with a fellow who banked there. I was always going in with checks for between 5 and 15K once to twice a week. I needed cash for my business. I had no problems with fingerprints, IRS forms, etc. They simply wouldn't let the cash go.
Somewhere during my business dealings with this fellow, they started this policy. I called him up on my cell phone from the lobby and he steamrolled in there beet red and pissed about 15 minutes later. He went straight into the manager's office, no waiting, just stormed in. Gave her an ultimatum. She would cash checks written to me or his entire operation(which covered several cities and B of As across Texas would be closed that day. I know he did hundreds of millions in deposits with them annually. She made one phone call and got a waiver for me and my driver's license number for any amount with no fees. Even through it all she looked like she had sucked on a lemon the entire time and was rude to me and cold to my buddy with the accounts.
Finally, at the end, she suggested I get an account with them. I just laughed and said after what I'd seen today, that would NEVER happen. It never has and it never will. She even had the gall to suggest I shouldn't be carrying so much money on me!! As if she was doing me a favor....... I'm still so angry with those people I can't type this without getting mad.
I contracted with that guy for another couple of years or so and it always made me so angry to see lines of regular laborers there on Friday afternoon getting ripped for 3% on their pitiful pay. All I could think about was their families, children, etc. and BofA sucking the milk right out of their bottles. Those people are evil! Even today, I refuse to accept a check written on their bank. I just tell the person to give me cash or some other form as I won't even deposit one of their filthy pieces of paper into my accounts.
Since I have an incorporated business now, I get offers and CC apps from them all the time. I always send back their metered envelope with my standard form letter telling them of my experiences and how disgusted I am at their treatment of regular working people. At least I'm costing them some postage and they are so foolish they keep sending me stuff. When I think of the term, "evil moneychangers", Bank of America is all that fills my mind.
OK, I'll step down off the soapbox now, but people need to know that even if BofA has changed in other areas of the country, they haven't changed in Houston and they are stealing thousands weekly from the poorest of the working poor. I don't care if they've cleaned up their act or not, they've commited far too many sins for me to ever forgive them. Somehow, I get by with my credit union just fine.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff
I was trying to think of how many times a nonclient or client asked for large amounts of cash as rarely does it occur and when it does it sends up red flags. The few times when a client would want large amounts of cash we would ask them to call a couple of days ahead of time so we could make sure it was there. Banks have to order cash and have to estimate needs from week to week. They just don't leave cash sitting around for 2 reasons, one the danger of theft and two cash is not an earning asset for a bank. It costs them money to have cash sitting around not working.
99.9999% of legitimate businesses don't deal in large amounts of cash and good owners of companies understand and appreciate the bank is also protecting them with these type of requirements. I could type for hours about employees who stole money from their companies because the owner wasn't smart enough to understand that risk abounds out there. Tell me another for profit industry that literally gives away with little cost or none many of its services.
roadrunner
The message I got was the importance of discussing banking charges and policies with the bank when you establish your account.
I am sure you can find another bank that will be more accomodating.
<< <i>they will not cash a check or give you a withdrawal greater than 5K even if you ARE a freaking account holder. >>
I've never had that problem at my branch of BofA, and I've withdrawn as much as $15K in cash. Did have to fill out the IRS form, but that isn't something they made up.
Russ, NCNE
<< <i>
<< <i>they will not cash a check or give you a withdrawal greater than 5K even if you ARE a freaking account holder. >>
I've never had that problem at my branch of BofA, and I've withdrawn as much as $15K in cash. Did have to fill out the IRS form, but that isn't something they made up.
Russ, NCNE >>
Russ, they will, but only if you go downtown to the main building which for most people could be a hour plus to get there and back, perhaps longer.
They claim they don't keep that much cash, but that's just a ruse. I've been there on a Friday when the line of laborers and regular folks who need to cash their checks has gone out the door and into the parking lot.
I have no doubt that they are different in other areas because if they were this way nationwide, they'd be out of business. They do it here because they can. Every day extra they keep that cash they draw interest on it. The customer is regarded as an intrusion at B of A in Houston. Perhaps it's the demographics as we have so many illegals down here, they just figure they can treat non account holders in any manner thay like. They aren't much better towards account holders either. I will probably always hold them in disdain for their actions. I know of several people who have left them with their accounts simply because they are universally rude and act like they are doing you a favor when you show up at the teller window.
John Marnard Keynes, The Economic Consequences of the Peace, 1920, page 235ff