Went into a bank where my mother and I bank, but not our "official" bank branch. My mother wrote me a check for $350.00 and I went to the bank to cash it. After showing them my DL and my account number, they had to call the bank where our accounts were at to have them FAX them a signature card for my mother and me!!! Since my mother was shopping at a store close by, I told them that I would go get my mother for verification of the check. Being PISSED TO NO END, I found my mother and we went back to the bank. That still was not good enough for them, they wanted to see signatures! My mother is 75 years old, and we had been working all day packing her up to move to my house so I guess I didn't fit the profile dress of a honest citizen (jeans and sweat shirt) and they thought we were probably bandits there trying to forge a check. To make a long story short, we both demanded on the spot to close our accounts and demanded a cashiers check on the spot. When they found out how much money they lost over $350.00 they were more than willing to give me the friggin $350.00. I told them and my mother too, to kiss our A**! And, we were not the only one's questioned about taking money out of our accounts, so you better get to know your bank. They gave me and my mother cahsiers checks, and my mohter is going back to THEIR bank and cashing it in for ALL CASH! Bet they don't have it in their bank to give her!

-- Bardou (bardou@baloney.com), March 03, 1999

Answers

Well Bardou, like I said, we've got to stop meeting like this!

I know I'm going to have a bunch of fun with my bank. Over about the past 18 months, I've had a few CDs come due and put it into a simple savings account. Sold the few stocks I did have, and put into same account. Current balance about 50,000. About August, maybe sooner, I'm going to ask for a cashier's check to close my account. I already have about 10,000 in cash to hold me off. After the 1st, if the bank is still open, I'll open a new account with about 500 and wait for my first statement. Then I'll put in another 500 and wait for the next statement. If all is OK, I'll give them back the cashier's check and go from there. It will be a fun day though, when I ask for the 50,000. <:)=

-- Sysman (y2kboard@yahoo.com), March 03, 1999.

LOL, Bardou! Yes, we've noticed the bank seems to have forgotten the money (what little there is) in our account actually is *ours*.
They act so put-out + peeved when we want to withdraw or deposit. They're making it more difficult to prove who we are and that we have an account there (over 14 years now). Their arrogance is becoming uncomfortable.

xxxxxxx xxxxxxx xxxx

-- Ashton & Leska in Cascadia (allaha@earthlink.net), March 03, 1999.

Bardou: I empathize with you, but I think you will be more p*ssed if the FDIC's "Know Your Customer" rule takes effect. The bank will be more than a snoop and inconvenience: It will become an agent for the federal government. Check out: defendyourprivacy.com --I think you'll agree!! BTW, there are in excess of 100,000 e-mail responses against the proposed rule.

-- Don Chen (DChen@newbie.xxxcom), March 03, 1999.

Sysman: My mother just wants to see the look on their face when she asks for cash and they can't give it to her and they tell her to come back tomorrow. We plan to do business with another banker tomorrow, I'll keep you all informed! But this was truly a wake up call. A gentleman standing next to us ask his teller if he was going to be able to take money out January 2, 2000, she said "sure no problem." I said to him "look what it takes us to try to cash a $350.00 check! You better take your money out before then!" he said "I plan to do that!"

-- bardou (bardou@baloney.com), March 03, 1999.

Sysman....Don't buy one big cashiers check. Break it up into several smaller ones (and not all drawn on the same bank!!). After experiencing problems during the S&L crisis, I learned my lesson. Finally got all my money but it took almost 6 (yeah, six) years. I finally bought some 1/10 coins to go in my safe. Didn't get any hassle from the wife either. She's scared to death now after she started reading about y2k. Biggest problem I have with her now is getting her to slow down on the purchases so I can pay for the lights. She even has made arrangements for 2000 lbs of horse feed to be delivered end of October. (stuff makes geat granola too). Banks here in SC aren't giving anyone any grief yet but it's coming. Everytime I go by the bank I cash a medium sized check and then redeposit the next day. Doesn't cost me anything and it establishes a pattern of frequent cash deposits and withdrawals for future reference.

Lobo

-- Lobo (Hiding@woods.com), March 03, 1999.

Thanks for the input Lobo. It is something to think about, considering the "know your customer" policy. Yes, I do like the idea of having a few smaller checks. Darn, why didn't I think of this earlier! Really, thank you for the history lesson. Kinda makes me glad I've become a Yourdonite!

Happy New Year... <:)=

-- Sysman (y2kboard@yahoo.com), March 03, 1999.

And one more thing about banks, DO NOT put anything into a safety deposit box. My mother and father had a safety desposit box and my father become very ill and was bedridden. My mother went down to get some papers out of the box, but they would not let her into the box without my father being there. My mother had to get a power of attorney in order to remove the papers. It was a nightmare! They also told her, "we read the obituaries everyday, and we freeze all accounts and safety deposit boxes." So who in the hell do they think they are? What arrogance! As you can tell, I am not a happy camper.

-- bardou (bardou@baloney.com), March 03, 1999.

Bardou, they may well be required by law to freeze accounts and safe-deposits upon death of the depositor. I think it's supposed to be a protection in cases of disputed estates.

-- Tricia the Canuck (jayles@telusplanet.net), March 03, 1999.

Sysman,

Remember, a cashier's check is still a check; it's not money. The checking system relies on the banking system. If the issuing bank goes down, someone ends up with the Old Maid.

-- Elbow Grease (Elbow_Grease@AutoShop.com), March 03, 1999.

Bardou:

Ref Safe Deposit Boxes and Accounts:

A portion of the Bank's Due Diligence requirements includes freezing accounts and deposit boxes upon the anouncement of the death of one or another of the signatories. This is part of the probate process. Upon death, only the executor(trix) of the will is allowed access to the assets. Cuts down on lawsuits, but can be a stone bitch if all you have is joint accounts. This is why you and spouse require 3 accounts as a minimum, 1 for each of you, and one joint.

Chuck, who has lost a close relative or two.

-- Chuck, night driver (rienzoo@en.com), March 03, 1999.

Bardou, Thanks for the story. More power to you. I feel a little differently about the safe deposit box. I'm in favor of keeping your valuables there simply because of fire and theft risk. Of course, that would vary with the facts of each case and if I were in poor health, I might see differently.

Something else to consider, Series EE US Savings bonds. You get an actual certificate from the Treasury that you can cash in any bank in the country any day of the week. You are limited in how much you can buy in a calendar year.

-- Puddintame (dit@dot.com), March 03, 1999.

Puddintame: The Savings Bonds are a good idea, but I wonder if they'll be worth anything ITSHTF?

-- bardou (bardou@baloney.com), March 03, 1999.

I haven't run across that problem with my bank YET, but some other local ones are making it a real pain to withdraw.

IF I get that kind of hassle, I'll close the account on the spot, and tell the highest ranking bank officer I can reach just WHY I did, and that they can stick it where the sun doesn't shine too. :)

It's MY money, they are just the custodian. They forget their places, these servants.

I've already removed all but essential cash from the bank (enough to cash our paychecks), and I've established a regular pattern of REMOVING my money/cashing my checks, so there, FDIC rule. :) :)

-- Bill (billclo@hotmail.com), March 03, 1999.

Re: Safe deposit boxes

When my husband's father died his safe deposit box (full of rare coins) had to be opened in front of officials so taxes could be assessed on the contents. My husband refuses to ever use a bank box now.

-- Pearlie Sweetcake (storestuff@home.now), March 03, 1999.