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Re: How about this change to our US currency
Author: Ken Shattock (KRK)
Date: 04-23-2016 - 06:20
Dr Zarkoff Wrote:
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> This came up in an earlier thread: depositing $200
> cash in a bank account via a teller triggered all
> kinds of questions. Someone else came on to say it
> was a result of a "new Federal law". So yesterday,
> when I went to deposit a VA mileage compensation
> check with a grand total of $8, I asked the teller
> if I deposited $200 in cash, would I be asked all
> these questions (where I got it, etc.), and the
> answers were "no" and "never heard of such a
> thing".
>
> The teller went on to explain that sometimes they
> would ask question if things looked odd, such as
> with repeated withdrawals, particularly with older
> customers, because of all the phone and internet
> phishing scams which abound these days. Things
> like this: the (alleged) IRS called for the third
> or fourth time yesterday to inform me of pending
> legal action against me. The only problem is the
> IRS doesn't call, they send a letter, and the IRS
> is quit clear about the subject. The media reports
> this almost on a regular basis (fortunately they
> got this one right).
>
> There is a Federal requirement for transactions of
> $10,000 or more (that anti-money laundering etc.
> thing), and you can't break them up into smaller
> amounts to stay below the threshold. However, it
> looks like this brouhaha over being quizzed for
> lesser amounts is more a question of company
> policy than law.
>
> How much of that asking for your ID when you use
> your credit card is the seller trying to protect
> himself against fraudulent charges made on a
> stolen credit card?
Dr. Zarkoff- as usual, you don't take anybody's word for anything except your own. I don't know what bank you personally use but "I" was the one making the $ 232.00 deposit.
Others on A-P backed me up. It is NOT a made-up story! BANK OF AMERICA adopted the new rules in November-2015. Learn them, if you care !! The amount of $ 200 or so doesn't matter. It can be ANY amount you wish to DEPOSIT in your own account "when you use a Teller". Period !! They asked to see my Drivers License. They damn near almost were going to ask what time I usualoly went to the bathroom ! My other deposit of $ 232.00 was made at the ATM in a normal way--receipt given--see you later type of thing!
The bank manager confirmed the new rules. Why would I tell the A-P gang this story if it wasn't true--think about it !!!
KRK
-------------------------------------------------------
> This came up in an earlier thread: depositing $200
> cash in a bank account via a teller triggered all
> kinds of questions. Someone else came on to say it
> was a result of a "new Federal law". So yesterday,
> when I went to deposit a VA mileage compensation
> check with a grand total of $8, I asked the teller
> if I deposited $200 in cash, would I be asked all
> these questions (where I got it, etc.), and the
> answers were "no" and "never heard of such a
> thing".
>
> The teller went on to explain that sometimes they
> would ask question if things looked odd, such as
> with repeated withdrawals, particularly with older
> customers, because of all the phone and internet
> phishing scams which abound these days. Things
> like this: the (alleged) IRS called for the third
> or fourth time yesterday to inform me of pending
> legal action against me. The only problem is the
> IRS doesn't call, they send a letter, and the IRS
> is quit clear about the subject. The media reports
> this almost on a regular basis (fortunately they
> got this one right).
>
> There is a Federal requirement for transactions of
> $10,000 or more (that anti-money laundering etc.
> thing), and you can't break them up into smaller
> amounts to stay below the threshold. However, it
> looks like this brouhaha over being quizzed for
> lesser amounts is more a question of company
> policy than law.
>
> How much of that asking for your ID when you use
> your credit card is the seller trying to protect
> himself against fraudulent charges made on a
> stolen credit card?
Dr. Zarkoff- as usual, you don't take anybody's word for anything except your own. I don't know what bank you personally use but "I" was the one making the $ 232.00 deposit.
Others on A-P backed me up. It is NOT a made-up story! BANK OF AMERICA adopted the new rules in November-2015. Learn them, if you care !! The amount of $ 200 or so doesn't matter. It can be ANY amount you wish to DEPOSIT in your own account "when you use a Teller". Period !! They asked to see my Drivers License. They damn near almost were going to ask what time I usualoly went to the bathroom ! My other deposit of $ 232.00 was made at the ATM in a normal way--receipt given--see you later type of thing!
The bank manager confirmed the new rules. Why would I tell the A-P gang this story if it wasn't true--think about it !!!
KRK
