Heads Up! - Bank Of America next Bank to Fall ?!?!

[Waterman]

There are laws on the books that payroll checks have to be cashed when presented.

Safe deposit boxes can be compromised and not available if a bank goes down.

Once a check is written and presented to the bank it is written on it is not lawful to charge for cashing the cash because legally those funds are owned by the person on the check.

The main item of contention to get the funds is that they want finger prints.

hmmmm?

[Baron Cross]

Hello guys

You think thats bad that they wont cash your check, I was trying to take money out of my account at wells fargo and they said they dont have that kind of cash on hand that I have to wait for 7-10 days to wait for them to order it. I said I thought you guys were a bank. I was trying to take out 20K but I have 175K in deposit. Its not like I was trying to take out all my money. Then I said how much can you give me then and they replied none because they know how much I was trying to take out that I have to order the whole thing if I want cash. I went to a different branch and they told me the same thing and I only ask for 10k. So I went to a another branch got 4k.

[ralok_j]

Originally Posted by Baron Cross

Hello guys

You think thats bad that they wont cash your check, I was trying to take money out of my account at wells fargo and they said they dont have that kind of cash on hand that I have to wait for 7-10 days to wait for them to order it. I said I thought you guys were a bank. I was trying to take out 20K but I have 175K in deposit. Its not like I was trying to take out all my money. Then I said how much can you give me then and they replied none because they know how much I was trying to take out that I have to order the whole thing if I want cash. I went to a different branch and they told me the same thing and I only ask for 10k. So I went to a another branch got 4k.

It's rather standard. Banks don't keep millions in the vault just in case someone wants to make a large withdrawal.

People, realize that there is a cost to the bank for cash. They buy the money from the Fed, who charges a fee.

[Baron Cross]

I guess Im just spoiled then that I usually withdraw cash all the time usually 9,000 so I dont go over 10,000 because the (FBI,IRS) reporting which I dont care I just dont like all the questioning. It just makes me mad that the first branch I went to wont even give 1,000 dollars just because I ask for 20,000 and she was rude, I almost exploded but I kept it inside and I thought shes not worth it to make scene. I usually get 3,000 at drive throughs so Im use to get my money when I ask for it. Before all this crisis happened, five months ago I got 50,000 cash out no problem, so I felt they were holding my money hostage

[ralok_j]

Originally Posted by Baron Cross

I guess Im just spoiled then that I usually withdraw cash all the time usually 9,000 so I dont go over 10,000 because the (FBI,IRS) reporting which I dont care I just dont like all the questioning. It just makes me mad that the first branch I went to wont even give 1,000 dollars just because I ask for 20,000 and she was rude, I almost exploded but I kept it inside and I thought shes not worth it to make scene. I usually get 3,000 at drive throughs so Im use to get my money when I ask for it. Before all this crisis happened, five months ago I got 50,000 cash out no problem, so I felt they were holding my money hostage

You realize that even though you didn't withdrawal enough to require a large currency report, they could still file a suspicious activity report (SAR). And, they can not and will not inform you that they are filing this report.

[ralok_j]

Originally Posted by Waterman

There are laws on the books that payroll checks have to be cashed when presented.

Safe deposit boxes can be compromised and not available if a bank goes down.

Once a check is written and presented to the bank it is written on it is not lawful to charge for cashing the cash because legally those funds are owned by the person on the check.

The main item of contention to get the funds is that they want finger prints.

hmmmm?

There is no such law. Obtaining the finger print is to deter fraud.