Another Bank rant....

Greg1959 · Aug 12, 2017

This morning, I was heading in to town. My sister wanted me to drop off a deposit of cash in her bank.

She gave me $260.00 in $20.00 bills with the deposit slip. She owed me $10.00, so she made the deposit slip out "Deposit CASH: $260.00 minus $10.00 CASH RECEIVED equals CASH DEPOSIT: $250.00.

I went thru the drive-up window and presented the deposit. Teller completed transaction but with the 'Admonishment' of...."I know you bring your sister here often and I recognize you but I can't give you cash back unless she is in the car with you."

I said that I could understand that. How would they know that I may keep that $10.00 and not give it to my sister. Teller said "No, That's not the reason. We are not allowed to do any transaction for a non-customer."

I said "I understand but, as you know, my sister is legally blind and cannot drive. Therefore, she can't drive herself to the bank? I was just trying to help my sister...You have her phone # on file and you can call her to verify the transaction/deposit."

Teller said: "I see what you are saying but that is Bank policy. I will not call her. As a matter of fact, 'I put my initials on your deposit slip because I recognize you. But from now own, I can't accept it'."

I said "Okay, thanks and have a good day".

So now, I can't make a cash deposit for my sister, who may want some cash back from the deposit, without my sister being present in the truck.

Sheesh!

Please explain this one Mr. Banker....

Philip d · Aug 12, 2017

Could your sister contact the bank manager and sign a form allowing you as her brother to do banking errands for her on her behalf?

Greg1959 · Aug 12, 2017

philip d- No, but I could be signed on as a co-signee. Which would make me liable for any incurred liabilities.

Eric in IL · Aug 12, 2017

Tell the bank you are disappointed in their service. Ask them if things would be different if you were Jed Clampett.

LAA · Aug 12, 2017

At our bank you can deposit cash in the ATM and get cash back from the deposit, say you had three $100 bills but wanted $50 dollars back, you can punch in the deposit as $250, the scanner reads the bills and tallies up the total as you insert them, punch "enter" and the machine will then give you back $50.

ss55 · Aug 12, 2017

Identity theft and fraud are big problems that are difficult for banks to eliminate.

It sounds like there is a lot more to this story. Take your sister to the bank and work out a long range plan/arrangement with a bank manager.

Greg1959 · Aug 12, 2017

LAA- That's a great suggestion and I will try to implement that next time.

Only bad thing is...I will need my sisters' ATM card to complete the transaction. She has no problem giving me the card but, she needs her card with her in case she leaves the house with other people.

Greg1959 · Aug 12, 2017

ss55- I'll explain that one later....break in rain....gotta go bush-hog...

tn terry t · Aug 12, 2017

may not be true in your case but I heard on lasts nights news that some banks if not all are starting this policy. seem that the drug dealers have started depositing money in accounts instead of hauling around a lot of cash. might be total BS story I don't know

Billy Shafer · Aug 12, 2017

I ran into the same problem with my account. Manager said they couldn't do it because of the new banking laws. Frank-Dodd act I believe she called it. Before that law was passed. I could call the bank tell them what size loan I needed. Stop by and pick the money up. Now I have to go in,show my id and spend twenty minutes. Filling out paper work

Steve@Advance · Aug 12, 2017

If your sister trusts you, she could add your name and signature to the account.

My mom added my name to her account several years ago, just in case she were incapacitated or passed, I could access the account without going through a bunch of process.

One of her brothers died several years ago, even though she was the executor of the estate, which was very little, she was never able to close out his bank account. Let about $2000 go to the bank that could have gone toward the funeral.

pete black · Aug 12, 2017

In alabama any unclaimed money by law is turned over to the state and can be claimed by heirs. Perhaps you should check with your state's unclaimed property office.

cool hand · Aug 12, 2017

I've been out of the banking business for 30 years now after 31 years of service. That simply would not have happened at our bank. Lots of regulations and policy changes later, who knows? Isn't "progress" great?!!!
Really though, spend a few dollars and get a legal power of attorney to transact her business. It doesn't obligate you for anything but your fiduciary responsibility to your sister.

Greg1959 · Aug 12, 2017

Billy Shafer- " Frank-Dodd act I believe she called it. Before that law was passed. I could call the bank tell them what size loan I needed. Stop by and pick the money up. Now I have to go in,show my id and spend twenty minutes. Filling out paper work"

I've got no problem with that.

Jim in NC · Aug 12, 2017

If you see in your future that you will be doing lots of things for your sister get a durable power of attorney. Will simplify life for both of yall.

Greg1959 · Aug 12, 2017

cool hand- "Really though, spend a few dollars and get a legal power of attorney to transact her business. It doesn't obligate you for anything but your fiduciary responsibility to your sister."

'cool hand'- Please excuse me for my response...... Why should I spend a few dollars to 'get a legal power of attorney to transact her business'. Isn't that just paying more money to attorneys?.
'

tn terry t · Aug 12, 2017

(quoted from post at 15:47:44 08/12/17) I've been out of the banking business for 30 years now after 31 years of service. That simply would not have happened at our bank. Lots of regulations and policy changes later, who knows? Isn't "progress" great?!!!
Really though, spend a few dollars and get a legal power of attorney to transact her business. It doesn't obligate you for anything but your fiduciary responsibility to your sister.

I did the power of attorney for my uncle who got where he couldn't get around very good. I called the lawyer he drew up the papers I took uncle to the parking lot and the lawyer came out and had my uncle to sign the paper then I signed also. that point forward I could do anything with his financial needs. I think he charged me $25 bucks.

JD Seller · Aug 12, 2017

The trouble was you getting the $10 back. You could have made the deposit without any issue. It was getting the cash back. There are entirely "new" laws that have came out in the last few years on cash transactions. My wife used to do 90% of the actual bank transactions. I would do the book work on the farm/business but she would stop when she was in town. IF I need cash back for some thing I had to write her a check for "cash" so they would give her the cash. There had to be a paper trail for the cash. This is all required buy Federal law now. It is their anti-terrorism rules, trying to track drug money and tax evaders.

Don't worry before long there will no longer be any cash. You will have a "card"/number/bar code on your butt(LOL had to add that) so all transactions can be tracked by "big brother". This MAYBE the Federal Government but can also be the companies you do business with. They are "harvesting" data to target you for sales efforts.

cool hand · Aug 12, 2017

Greg, don't let your apparent dislike for attorneys (and bankers) keep you from doing things the right way. I suggest you talk with the bank manager (reasonably) first to seek a solution. I always tried to help customers (and often non-customers) in such situations to resolve the issue to their best advantage. We even provided POA forms without charge to help resolve it in the best way.
Many people believe that adding another name as co-owner of their accounts resolves all possible issues that may arise. The trouble arises when things don't happen according to expectations.

K Effective · Aug 12, 2017

So, your sister gave you 13 bills of $20, and a deposit slip for $250. Why did you not start the transaction with "Please change this $20 into two ten dollar bills." Then give the teller the slip and eleven twenties and one ten? I guess the bank may refuse to even change a $20 for a non-customer

As most folks have found, routine banking is so much quicker at the ATM. But I have not seen one lately that gives twenties and tens, so the previous story of getting $50 back doesn't fly around here, only multiples of $20.

Stephen Newell · Aug 12, 2017

I bet if you went inside and asked for change for a 20 you would have gotten it. Then fill out a deposit slip for $250.00.

tractorguy2 · Aug 12, 2017

Just need to add your name to your sisters account. My sister has her name on my account and most of my CD's. She has not shot me yet!!

I have had an account with the same small town bank for over 40 years. My parents also have had an account at the same bank even longer. I cashed checks for them for years with no problem. Then the bank sold to a much larger bank. They fired all but one local employee. Now,If I try to cash a check for my parents the newbie tellers make me sigh the check and the deposit slip. If I get the one local teller she just hands me the money. She think making me sign for the money is stupid. The bank does not have an ATM machine.

Billy Shafer · Aug 12, 2017

Greg The problem comes in like this.Small town with a small town bank.Everyone knows everyone. Lots of the older farmers have been doing business with just a handshake. Or people knowing who they were. For years now they feel insulted. It's like the bank no longer trust them.After years of paying their bills on time,never faulting on a loan. It is hard for them to adjust. A matter of pride to them.

Greg1959 · Aug 12, 2017

Stephen Newell- " bet if you went inside and asked for change for a 20 you would have gotten it. Then fill out a deposit slip for $250.00." .......Nope....

See this thread....
Poke here

Dune Country · Aug 12, 2017

I hate ATM's, they never put enough cash in them, don't know how many times I went to use one and it said "insufficient funds"!!

fixerupper · Aug 12, 2017

I ran into this same thing depositing money for my step mom who was in the nursing home. Small town bank, everyone knew me but I wasn't an authorized signer on her checking account so they were reluctant to let me deposit the money. They did do it in the end though. After that one time her son became an authorized signer for her account so we turned it over to him.

Goose · Aug 12, 2017

Even though my wife and I are well known at our local bank, they won't let me make a deposit to her account and vice versa. Bank regulations.

Yet there's nothing wrong with me putting a deposit to her account in the night deposit box.

Makes you wonder.

Geo-TH,In · Aug 13, 2017

Greg,
Wouldn't it have been simpler if you first asked change for a 20? Then you could have saved the bank a lot of time and saved you time for not posting a rant?

ss55 · Aug 13, 2017

Doesn't that confirm that you need to bring your sister to the bank and have her work things out with the bank manager?

mb58 · Aug 14, 2017

It is aggravating. My wife has been in banking over 30 years. The lady may have said, "It is bank policy." But the reality is that 90% of the stupid rules that banks have, came down from the great god in Washington DC called , by some,the Federal Government.
Of course you probably wouldn't be surprised to learn that a lot of the people who come to the bank to "help" their mother, sister, brother, etc., are actually standing there, looking you in the eye and stealing the very money they are being handed.
My wife could write a book about the crazy things that go on in a bank. From some nice lady bringing them a cake for being so helpful to her, to the Grandma drawing out a few thousand to give to the drug addict grand-daughter to have her car repaired when everybody knows what the money is really going for.
With all that being said, yes, there are far to many regulations that make banking a pain.

Another Bank rant....

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