Might be looking for a new bank

[42769vette]

This is very true.

I have no doubt my bank doesn't have the buying power, to give me the best interest rates, or have the most options, but I'll take the personal service, and knowing Im helping support local business any day.

Hell they just got online banking within the last year or so.

 

[Alamo]

...

They also wont let you pay cash for a cashiers check if you have an account there. At least that is PNC's policy, not sure about whether that one is a law. ....

There is a relatively recent (last couple or three years?) requirement that government identification be provided along with all cash transactions. When this went into effect the local credit union that the business I work for uses stopped letting just swap cash for cash, i.e. I could not take a $100 bill in and get $100 in smaller bills. I had to deposit the $100 while showing ID, then withdraw $100 in smaller bills and change. I don't know if tracking the transaction like this is also part of the rule (the teller said it is) or that's just how the credit union wants to do it, but it is a nuisance. I deposit cash from our business transactions to a business account that does not have my name on it -- I have only the account number and business name. I can't withdraw cash from that account (and I do not want that authority either!). So the owners of the business had to set up a separate account just to process making change. All three of us employees had to fill out paperwork and provide our IDs, and now we can make deposits and withdrawals to that one account only, while making our regular business deposits to the other account.

 

[doubleeagle4]

There is a relatively recent (last couple or three years?) requirement that government identification be provided along with all cash transactions. When this went into effect the local credit union that the business I work for uses stopped letting just swap cash for cash, i.e. I could not take a $100 bill in and get $100 in smaller bills. I had to deposit the $100 while showing ID, then withdraw $100 in smaller bills and change. I don't know if tracking the transaction like this is also part of the rule (the teller said it is) or that's just how the credit union wants to do it, but it is a nuisance. I deposit cash from our business transactions to a business account that does not have my name on it -- I have only the account number and business name. I can't withdraw cash from that account (and I do not want that authority either!). So the owners of the business had to set up a separate account just to process making change. All three of us employees had to fill out paperwork and provide our IDs, and now we can make deposits and withdrawals to that one account only, while making our regular business deposits to the other account.

Here is one of the reasons that many banks don't let customers swap cash for cash (other than the obvious money laundering).... Believe it or not, banks charge business customers to do change orders. So when they come in with $500 and want quarters, dimes, nickels, etc, the banks charge them a fee to do so. What happens a lot is the business owners or employees start coming in and trying to get change for free by acting like it's not for the business... So the banks were losing out on those fees and started making it mandatory to run it through an account.

 

[JettaKnight]

https://www.nbc.com/saturday-night-live/video/first-citywide-change-bank/n9701

 

[snorko]

An acquaintance had accounts cancelled by Chase, because his business deposited too much cash.MM

I received a letter from Old National not long ago saying they were going to start charging a fee for large cash deposits and deposits in change. It was like 1%.

 

[sharpetop]

Ditto on using a credit union or possibly a local bank.

 

[wtfd661]

Been a member of Midwest credit union for 30 years now, still a happy member

 

[MrsGungho]

Credit Union all the way.

About 2 mths ago my daughter, who lives 120 miles away, was in need of some money. I offered, she declined. I knew she banked at TCU.. I went in, told them I needed to deposit in her account. I gave her name, address, etc and they put the money right in. An account number would have made it easier, but she didn't want me to give her money.

 

[King31]

For credit cards I really like Chase. I also have a checking account with them, but not sure on their policies. It is only for DD from work. The online credit card transactions are updated when you card is scanned unlike 5/3 where it could take a day or two to even show up on the account. For 5/3 I do like the mobile deposit feature.

 

[ashby koss]

Ever since Fifth Third decided to get political about the 2nd Amendment, I have been considering moving on. Now they won't let me deposit a check into my own minor son's account. I'm not sure I want to do business with a bank that won't let people put money INTO an account. My question is "If someone wants to give me money, why won't you let them?"

So I may have reached the point that I will be willing to do all the work it will take to go somewhere else. What 2nd Amendment-friendly bank should I consider? We're old fashioned - we'd like an actual branch or two in our area (Fort Wayne), since we go into the bank in person sometimes.

Try using Deposit only and a check. Thats how our secretary can deposit our company checks without full signatures or account knowledge. and pre-fill the deposit slip

 

[Clay Pigeon]

Right or wrong, it makes sense in a way. A former bank I worked at had this same policy. We would just tell them to call and get the account number and fill out a deposit slip. It's crazy to think that a person could steal account info just by doing a deposit, but it happens all of the time.

.

In 40+ year of writing thousands and thousands of checks that all have my checking account number printed on them I have never had someone steal my account number and withdraw money. I have also deposited money into my sons PNC account 100+ times and never has PNC and now Navy Federal has never questioned me or turned me away.
I haven't gotten a banking recite for decades that have my complete account number on them.

 

[Sniper 79]

Real easy to take your phone out of your pocket and transfer money to your son's account. Don't even have to leave the couch. I'm old school too but am actually enjoying modern convenience. My bank closed. No need to go in there anymore. Loving Amazon too.

 

[Tsssst]

I worked for Brinks for a while and left because it's a god-awful cluster-**** of a company that I can't believe has existed this long based on how they're run, but my manager and I were 10 feet apart so I used to always hear his conference calls with the other sub and district managers. Brinks has a 45% turnover rate with employees in the first 6 months BUT they were counting on big gains in the states where pot is legalized because that money has to be cash. So far.

 

[Tsssst]

If you don't want to deal with an anti-gun bank like Citibank and whoever else, try teachers credit union. The google map only shows them in South Bend but I still did all my banking with TCU when I lived in Camby/Indy, and so does my sister in Camby. I always went to the TCU desk that was in a Meijer's.

 

[ziggy]

Star bank has been good for us. I once worked for them. Tried another bank but Star had superior technology and better service. We love the extended hours at the drive-up kiosks.

 

[churchmouse]

Credit Union all the way.

About 2 mths ago my daughter, who lives 120 miles away, was in need of some money. I offered, she declined. I knew she banked at TCU.. I went in, told them I needed to deposit in her account. I gave her name, address, etc and they put the money right in. An account number would have made it easier, but she didn't want me to give her money.

TCU has all of our bank business.

 

[Vigilant]

I received a letter from Old National not long ago saying they were going to start charging a fee for large cash deposits and deposits in change. It was like 1%.

I flipped my **** on Regions when they charged me for depositing too much cash? How ****ing stupid is that!

 

[chenowethpm]

I banked with fifth third for many years and last year I figured out that they were charging me $11 a month just for having a checking account. So knowing that they had been charging me $132 a year just for the use of a checking account I went in and asked them to give me all of it back(5 years worth), when they refused I immediately closed my account and they did not even offer free checking when I told them I was going to bank elsewhere. The bank I went to I made sure to tell them I wanted free checking or I would find one that would give me that. They did and no more 5/3 for me.

 

[cce1302]

Try a credit union. If you're a veteran, try Navy Federal. I lived in Indiana for 7 years and went to a branch maybe 3-4 times during that entire time (only while travelling). Even bought and sold a house remotely, bought cars, etc.

If you have other unusual stuff, remote banking might not work, but it was great for us.

 

[ArisakaTiger]

As someone who works in the financial industry I can provide some insight into the charging for cash theme that others have mentioned. Recently legalized substances at the state level, have seen the creation of businesses that are almost 100% cash driven, and they are unable to do business with almost any large bank or credit union. Since the proceeds are from products that are federally prohibited, it falls within federal rules that prohibit the banks from accepting those funds or risk their ability to maintain in good standing with the Fed, FDIC, etc. It falls to the banks to prove that the funds are from proper persons/entities, and not derived from organizations associated with drugs, terror, money laundering etc. So banks have become more cautious since cash doesn't have a source code associated with it.

As to the OP and his original interaction - various types of phishing schemes, combined with social engineering strategies have made what used to be simple transactions a convoluted quagmire of letters of authorization, journal requests and compliance policy headaches in an effort to avoid potential fraud. Banks often encourage their tellers/cust service reps to avoid if at all possible things that make sense or would make it easy to limit liability that costs them time, money and bad press. Often the only way to get the service you've grown accustomed to is to do something so frequently it become inconvenient for you.