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 Replies: 12 / Views: 2,420 |
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Valued Member
United States
146 Posts |
Has anyone else noticed in the past two weeks the increasing level of scrutiny for coin requests at the major Too Big to Fail (TBTF) banks? I am referring to Wells Fargo, JP Morgan Chase, Bank of America etc. They tell me that they are now documenting EVERY coin request - even if it is just a single roll of quarters. This means they log your request in their system along with the exact number and variety of coins. Has anyone else experienced this? Are there some new financial regulations in place that would cause all of these banks to log every request? I find it very odd that they all started doing this at the same time.
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Pillar of the Community
United States
937 Posts |
A non customer asking for a box of coins can be considered suspicious. A customer who never asked for coins cuddly wants a box of coins can be considered suspicious.
These type of questions were actually on the test.
So to hear they are keeping info on any transaction does not surprise me. Think about it, have you ever gotten a strange look from a teller when you asked for a box of coins?
It could be that some one in the bank's Fraud prevention, or what ever interesting name they attach to that department will looking closely at the transaction. And all in the name of Protecting the Public.
There are terrorists and drug dealers among us, protects us Big Brother!
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Pillar of the Community
United States
937 Posts |
Well that was weird... here is the first part of my post
Banks can keep track of any transactions. About a year ago I took a test for a job with one of the large banks. I failed the test and was told I was far too trusting of people. Any transaction that is 'different' will be considered suspect.
This means if a small business normally deposits $1000 in daily receipts then one day deposits $2000 they are suspect and the transaction can be 'tagged' for further review.
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Pillar of the Community
United States
509 Posts |
I'm not a hardcore roll hunter but from my experience it seems like every credit union that I've tried has had to fill out a form and then hand it to a manager to approve. This happened to me asking for 5 rolls of cents to a box. I like BOA.. at my local branches the teller has them in stock and just reaches below counter and asks no questions .. Maybe it depends on denomination, but $25 box of cents has equaled 0 questions
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Pillar of the Community
Canada
1747 Posts |
I can understand this sentiment to a degree, but let me ask you this question; How many of you use a bank/debit/credit card, loyalty card, library card or any other kind of card that is swipe-able?
Each one of these are keeping track of your life being purchases, deposits, or even the books you read.
in the majority of cities across north America, the average person is photographed up to 7 times a day just in normal travels.
if you are worried about the bank knowing how many rolls of coins you buy, I think you need to re-think the scale of big brother.
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Valued Member
United States
396 Posts |
It's become nearly impossible for me to get boxes of coins from banks I don't have an account with. I've been mostly discouraged from doing so.
Even my own bank now wants my account info before giving me a box. It took over ten minutes the last time I bought $100 worth of nickels.
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Pillar of the Community
United States
729 Posts |
I have not come across that yet. As of now for the most part they are happy to give me 2 boxes of nickels from their vault. The bank I get my nickels is Wells.
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Valued Member
United States
167 Posts |
I have not come across this whatsoever in any way shape or form. They have great customer service and are happy to oblige any of my requests. And my bank is one of the top 10 major ones in the usa. I ask for boxes of coins, funny money, bags of Ikes, the whole shabang with zero issues.
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Pillar of the Community
United States
8137 Posts |
I have not had anything like that happen to me. I hope it won't happen to me though.
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Valued Member
United States
174 Posts |
I am a BOA customer that hits 3-4 branches per week. WHether they give me $10 worth or $500 worth, they enter each denomination into the computer.
It could be so the now what to order. Or it could be big brother, but I am not sure why "he" would care. It's not like there's anything illegal about getting coins. I have far better things to worry about.
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Valued Member
 United States
146 Posts |
I guess the biggest problem that I have is that sometimes they take 10-15 minutes to enter all of this information into the computer. It's as if selling me a roll of quarters or 20 bucks in nickels is in the interest of national security!
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Pillar of the Community
1153 Posts |
Definitely don't have this problem. I am in and out within 5 minutes. of course they enter the transaction in the computer, but I cannot remember ever going into a bank and leaving with cash without them entering it into their computer.
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Valued Member
United States
116 Posts |
umm I have never had problems but the banks are so small that I can't get large amounts
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Replies: 12 / Views: 2,420 |
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Posted 09/15/2014 11:23 am
