| Author |
 Replies: 16 / Views: 3,737 |
|
Pillar of the Community
Canada
623 Posts |
|
|
|
|
Pillar of the Community
 United States
5828 Posts |
Yeah, it's a bit overboard IMHO
|
|
Pillar of the Community
Canada
1049 Posts |
Perhaps it is, yet it's the way of the future, it do'es give the bank recourse with fake bills and perhaps that's the only reason for it. Personally I think it's unfortunate that we seem to be put in a position more and more of handing personal information. IMO.
|
|
Pillar of the Community
Canada
937 Posts |
|
|
Pillar of the Community
Canada
5324 Posts |
Complete waste of time and logic over small change, ask the big five banks why they all have a large branch in the Cayman Island as was reported by the CBC's Fifth Estate a few years ago charging 2.5% for depositing suitcases full of US dollars.
|
|
Pillar of the Community
Canada
1051 Posts |
Banks are private businesses, they are welcome to refuse you a service if you are not a customer of theirs. The kicker of course is that money they create through loans and mortgages is interchangeable with government issued money, which muddies the water considerably on the role private companies have in public money systems.
|
|
Pillar of the Community
United States
1512 Posts |
Seems like a great way to get the details of POTENTIAL customers so they can send direct marketing information to them, ha ha!
|
|
Pillar of the Community
Canada
3049 Posts |
it's simply a way to discourage small transactions with people that don't have an account or do business with the bank.
Get an account and they're happy to do business...
|
|
Pillar of the Community
Canada
2632 Posts |
A couple weeks ago I took in some rolls that where in my car for months. They where nickels, 1-roll of dimes and a few rolls of penny's total $39. The CIBC here has been my dump bank for the past couple years with no questions asked until a few weeks ago. $39 worth of change and the teller needed all my info (even though she knows who I am )then she told me its to help prevent money laundering, well, I held my cool, and proceeded to explain to her that the bank is insinuating that I came here to launder a few rolls of change, especially when they know full well that I'm a coin guy who comes here all the time. My closest account with CIBC is an account with PC Financial, the mother branch is CIBC showing her my bank card wasn't enough she said she need to see my ID and she also needed my phone number, I haven't been back there since.
Like I'm going to launder thirty-nine bucks, yeah right.
Insulting as far as I'm concerned.
|
|
Bedrock of the Community
Canada
10743 Posts |
Yeah, pennyman, that's going really overboard.  |
|
Pillar of the Community
Canada
9864 Posts |
Why should I, a customer who pays thousands of dollars to CIBC in fees and interest every year subsidize your CRH, there is a cost associated with every transaction,pay the price. Do I expect you to subsidize my hobby?
"Dipping" is not considered cleaning...
-from PCGS website
|
|
Pillar of the Community
Canada
514 Posts |
sounds like malaryky, but it also reads as though it's a small push back on the part of the banks;
I remember a time when you brought in rolls of coins, the teller marked the rolls, and they were later recounted, any error on your part would be added or subtracted from your account;
Apparently now banks cannot do this because it infringes on legislated privacy laws - they now have to accept rolls of coins "in trust" - then consumers who notice that the rolls are short, or that they have blanks/foreign coins are supposed to go back to the bank, report the error, then (again) in trust provide you with the amount missing from the rolls.
If I were a bank, I wouldn't want to be dealing with any of this crap.
Of course it all comes down to the branch, and or the manager/employees - it there is a working relationship bank rules should have a degree of flexibility - as long as it's a two way street... but what would I know, I'm just an idealistic throwback.
|
|
Pillar of the Community
Canada
5324 Posts |
A little off topic but with TD almost all branches has their own version of coinstar machines deposit right into account with no fees perfect for coin roll hunters, also seen a few in CIBC.
|
|
Pillar of the Community
Canada
2632 Posts |
I very seldom CRH anymore I was talking about some rolls I had in the glovey of my car and the insinuation that I might be laundering money. Many people get started in this hobby by CRH. The hobby just happens to be coins and who has lots of coins?...its not like collecting barbie dolls or watches its the cash we deal with in everyday life. If the banks are responsible for handing out tons of change then they have to be responsible for taking it back too.
First of all there is no law requiring anyone to have a bank account, right.
Secondly a bank has to keep a degree of customer relations with the public or loose customers.
Thirdly it cost money for a bank to order in boxes of change to have for their customers.
Fourthly perhaps several of my family members have accounts with said bank, with that said, is it in their better interest just to serve their community than to jump down their dang throats?
|
|
Pillar of the Community
Canada
5324 Posts |
A few years ago when FINTRAC was introduced my local TD branch's business teller was jam packed and moving at a snails pace like 30 minutes a customers, they were told by head office to record all cash transaction and the famous know your customer routine. We were all fed up with the delays as all us were customers of this branch, finally one of the many managers of his branch came to see the problem and instantly told the tellers to skip the forms and 20 questions for their own branch customers and that he would deal with head office, thus common sense took over and the line moved at a quick pace. Sounds like CIBC just got this directive ten years late and are overzealous. By the way we should be like the US banking system so the bad guys knows to deposit only 9999.99 to avoid their reporting version of FINTRAC.
|
|
Pillar of the Community
United States
802 Posts |
I agree with this. Banks are businesses (just like restaurants). They don't own any non-customer the right to come in and service their needs, they aren't a customer. I would look at it just like me expecting a bank where I am not a customer to order me a box of half dollars. If I'm a customer, it's a different story.
Additionally, they are trying to protect themselves, or trying to deter the extra non-revenue extra-curricular activities.
|
| |
Replies: 16 / Views: 3,737 |
Posted 12/21/2015 07:43 am
