Posted on 03/30/2016 4:05:07 AM PDT by Chickensoup
I tried to deposit cash into my wife’s account at Chase. They wouldn’t let me. Said I could use my bank card from my credit union to do so but not cash.
Banks are not an extension of the government. They are for profit.
Some guy that the tellers don’t know comes into a bank without an account is not going to be served.
Go buy a pack of gum, then you will have change.
You mean like a.cell phone right? /s
My $50’s or $100’s get swiped with a felt marker to make sure they’re not Iranian counterfeits. SOP now.
I’m noticing that banks (like Chase) don’t even let card carrying customers use the restroom anymore.
Yes.
Castro, Bowe Bergdahl and Michael Brown are the good guys now.
You and I are the problem.
Around here the ATM’S dispense $50’s.
I believe your answer is most accurate.
My bank will provide any common service, including cashing checks or making change, this happens only when I prove I’m a customer. Going to other banks, if I’m not a customer, I’m not served.
I used to see that a lot more, but the new $100’s have so much obvious security built into them, I dont see that done much anymore.
My local water system charges more for paying online as a convenience fee. $4.95! Essentially, they really want you to mail them a check. I’m sure you could go down to their offices and pay with a check at the transaction windows, I’ve seen them down there, but have never done that.
It has to do with robbery.
To offer to make change would imply I have some stash of cash from which to “make change”
Go to a Mapco, ask nicely, buy a pack of gum or a can of coke if not. Clerk may grumble if the safe is low, or may be just as delighted to dispose of some inconvenient “hold tube” money and only have to write out “50B”.
Trust me, if my hold tube is running high and I don’t want to fiddlefart with a drop? You’re doing ME a favor giving me a big bill! Makes it all nice and neat and lets me hide behind the rules.
Banks set up their own rules, branch to branch. At one Citibank I was required to show ID to may a payment in cash on a credit card. At another, the Manager actually showed me how to pay in an in branch ATM so I wouldn’t have to stand in line.
North Korea has flooded the world with fake dollars
Two issues are in play here, the foremost being counterfeiting and the potential loss to a retail establishment. Try cashing a $50 or $100 bill without having the clerk hit it with a marking pen. Counterfeiting losses can be devastating to a small business. Secondly, both the bank and retail merchant incur costs for making cash transactions. The bank is charged by the federal reserve and they, in turn, charge the customer (plus additional fees to generate profit). In addition, remember that banks must pay insurance fees on deposits. In today’s low loan demand and low interest rate environment, I suspect that banks are concentrating on fee income and cash is an easy target for fee collection.
” was told that I could not do that unless I had an account.”
Why should they provide services for free if you don’t choose to be their customer?
They are for profit businesses.
[I had to show them my bank card]
Same thing I have to do when I make a deposit and also have to enter my pin number on the bank’s keypad.
My aunt has dementia. She is no longer able to figure out money so she pays with a $100 bill. That way, she doesn’t face the embarrassment of trying to pay a $35 grocery tab with a $20 bill.
Then she buys scratchers with the $20’s she gets back. Every...freaking....day.
Risk management. If they accept a bill and it turns out to be counterfeit, they are SOL. Despite all the new-fangled security measures, the deformed portraits, etc.
Two issues are in play here, the foremost being counterfeiting and the potential loss to a retail establishment. Try cashing a $50 or $100 bill without having the clerk hit it with a marking pen. Counterfeiting losses can be devastating to a small business. Secondly, both the bank and retail merchant incur costs for making cash transactions. The bank is charged by the federal reserve and they, in turn, charge the customer (plus additional fees to generate profit). In addition, remember that banks must pay insurance fees on deposits. In today’s low loan demand and low interest rate environment, I suspect that banks are concentrating on fee income and cash is an easy target for fee collection.
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