March 30, 2015

Every day I become more confused

Can anyone explain why I need to show a picture ID at the bank to DEPOSIT cash? I get why I need to prove I'm me to take money from my checking account but what does it matter who deposits money into my account? All the teller can explain is that "it is a new requirement".

Big Brother is here, we are just too stupid to care and powerless to stop it.

6 comments:

Fuzzy Curmudgeon said...

Well, you know, they don't want you to use cash. Untraceable, wot?

What bank, so I know to avoid them?

hey teacher... said...

Two scenarios
You come in and deposit $100 Then later come in and withdraw $1000 and they don't ID you because they recognize you from earlier deposit where they didn't require an ID.
Or drug payments put into your acct. You can check online to see deposit is made. Money is immediately laundered.

Fuzzy Curmudgeon said...

Banks aren't supposed to be reporting cash deposits of less than $10,000. http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/FAQs-Regarding-Reporting-Cash-Payments-of-Over-10000-Form-8300

This sounds like it's strictly CYA on the bank's part. I've deposited several hundred dollars in cash at a time quite a few times over the years and have never been asked for ID at my bank for that purpose.

Anonymous said...

But it's racist to require an ID to vote. Go figure.

JOG

Erin O'Brien said...

One brush with identity theft and you will be very glad indeed this sort of scrutiny is in place.

Joe said...

It is Chase

I have had my id stolen. It sucks I do want them to make sure it is me taking $ OUT. But my ID when I put in a $20 is ridiculous.

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