Bank of America check cashing ?

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A bit of a rant......So my Wife took her Paycheck, which is on a Bank of America account, to the Bank of America to cash it.

Now, in addition to requiring her to put her Thumbprint on the check ( which makes absolutely NO sense), they told her they were going to charge her SIX DOLLARS to cash the check - which is on an account in their Bank !!![shocked]

She started to loudly ask ( so that other people in the Bank could hear) - "So...you're telling me that this check, which is a BANK of America check is NO GOOD.???....Us Taxpayers give you billions of dollars to bail you out and now you want to charge me for cashing a check YOU issued !!!"....The Clerk asked her is she wanted to talk to her supervisor ( who was quickly exiting the scene as fast as possible )....My Wife just loudly said "No...I'l just Never Ever do business with this Bank again..."....walked out, went to the DCU and cashed the check no problem...

I think they need to change their name to:

Bank of Amerika.....
 
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Went through the near the same with Sovereign bank. Went in to pay off my cc,handed the teller the check and the card she looked at me like I had just grown a second head,then told me "We can't take cc payments here you have to wait for the bill". After a little search I found out that the bank had a bad habit of not getting the payments to the cc branch on time and people were getting hit with late fees. I still use the card but I've learned my lesson.
 

namedpipes

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The $6 charge is a new one on me, but they've been invading privacy one finger at a time for a few months now. And the tellers actually seem SURPRISED that anyone would object.

I no longer cash checks written on BoA, I deposit them instead. Without a fingerprint on them.

I guess with the bailout, they no longer need to attract customers.

Hell, even the freakin "convenience" check cashing services in my town charge less than that!
 

john m

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The company I work for changed banks because of the fee and thumb print. I went to walt disney wold last week. They take you finger print too. So no one else can use your pass?[rolleyes] But, I got to hug minie mouse![wink]
 
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I can't defend a $6.00 check cashing fee that is ridiculous.


However Banks are under a tremendous regulatory burden. Banking is the second most regulated industry in this Country. The first is Nuclear Power. Under the USA PATRIOT Act and the Bank Secrecy Act, Banks are required by the government to have a process in place to verify the ID of all "customers". They have to have a strong Customer Identification program that has very specific requirements. Failure to be in compliance with these requirements can result in millions of dollars in fines and closure of the bank. Look up Riggs Bank which was fined $25 million dollars.

Banks are forced to buy expensive monitoring software products to watch every transaction conducted by every customer. They have to pay teams of specialized people to review these transactions looking for Suspicious Activity. They must report them to FinCEN. They have to have an Annual Independent Audit of the function (which is what I do for a living).

Banks are becoming an investigatory arm of the government. While many of the Consumer Protection laws are designed to protect and inform the consumer, BSA/AML and USA PATRIOTAct laws are designed to curtail money laundering and stop the flow of cash to terrorists. Banks catch bad guys. Unfortunately it is very expensive to manage a BSA/AML Program and guess where that cost is passed along to?
 

namedpipes

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I can't defend a $6.00 check cashing fee that is ridiculous.


However Banks are under a tremendous regulatory burden. Banking is the second most regulated industry in this Country. The first is Nuclear Power. Under the USA PATRIOT Act and the Bank Secrecy Act, Banks are required by the government to have a process in place to verify the ID of all "customers". They have to have a strong Customer Identification program that has very specific requirements. Failure to be in compliance with these requirements can result in millions of dollars in fines and closure of the bank. Look up Riggs Bank which was fined $25 million dollars.

Banks are forced to buy expensive monitoring software products to watch every transaction conducted by every customer. They have to pay teams of specialized people to review these transactions looking for Suspicious Activity. They must report them to FinCEN. They have to have an Annual Independent Audit of the function (which is what I do for a living).

Banks are becoming an investigatory arm of the government. While many of the Consumer Protection laws are designed to protect and inform the consumer, BSA/AML and USA PATRIOTAct laws are designed to curtail money laundering and stop the flow of cash to terrorists. Banks catch bad guys. Unfortunately it is very expensive to manage a BSA/AML Program and guess where that cost is passed along to?
If a bank consistently requires a current and local driver's license or other state issued photo id, they've done their due.

If that is sufficient id for the police to accept when you are stopped for speeding, it's good enough for the banks. The very DAY the po po start printing at traffic stops, the revolution should start. (or charging $6 for the "overhead" of making sure you are you, should be in that vehicle, had business being on that street and so forth, for that matter)

The criminals, terrorists and politicians the banks are looking for will just go to "Crazy Moe's" check cashing service.

Banks have their compliance regs, so does healthcare. NStar has costs and so does Burger King, btw.

Its *their* cost of doing business, not mine.
 
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Two Days ago, I went to a BOA and cashed a check from my Company (BOA account) made out to me. They did ask if I had an account there (which I also do.)

They cashed it no problems.

I am not a big fan of BOA. They are your typical large bureaucracy bank where it is difficult to resolve even the simplest of problems. I have had one major run in with them a few months ago that when I tell my so-called premier banking relationship manager the story he doesn't believe it.
 

appraiser

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In Massachusetts your employer must by law provide a place for you to cash your check within a reasonable distance of where you work, for free

I don't know about NH though

I won't do business with Bank Of Amigo because they were trying to court the illegal immigrant population a while back by issuing CC's without a SS number.

So I have to bail BOA out when Jose runs the card to the max then jumps back home because the economy here has tanked? I think not.
 
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Hello everyone, my first post on this board.
My wife works for Bank of America, actually she has been in banking for about 30 years. The other side is the bank takes a lot hits from bad paper being passed at the teller windows. She says the bank could be wallpapered with all the bad checks they see. They want you to have an account with them or even simpler, go to your bank and cash your check. Don't hold my first post against me, just another view point.

Thanks for listening.[smile]

Seamsealer
 

dwarven1

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I went to walt disney wold last week. They take you finger print too. So no one else can use your pass?[rolleyes] But, I got to hug minie mouse![wink]
Just say No. They'll ask you for a photo ID. I ran into it this fall when I went to WDW and asked them if I had to give the fingerprint. They said that they'd accept a photo ID.
 

namedpipes

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Hello everyone, my first post on this board.
My wife works for Bank of America, actually she has been in banking for about 30 years. The other side is the bank takes a lot hits from bad paper being passed at the teller windows. She says the bank could be wallpapered with all the bad checks they see. They want you to have an account with them or even simpler, go to your bank and cash your check. Don't hold my first post against me, just another view point.

Thanks for listening.[smile]

Seamsealer
If a check drawn on a BoA account is presented at a BoA window, they had better know if the account has funds to cover to check.

If the issue is forged checks, better controls on the actual paper would work nicely and wouldn't be invasive.

If a check drawn on another bank (cashed by a BoA account holder) is bad, float the amount on the person's account until the check clears, like all the other banks do.



btw, Welcome to NES!
 

RKG

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Hello everyone, my first post on this board.
My wife works for Bank of America, actually she has been in banking for about 30 years. The other side is the bank takes a lot hits from bad paper being passed at the teller windows. She says the bank could be wallpapered with all the bad checks they see. They want you to have an account with them or even simpler, go to your bank and cash your check. Don't hold my first post against me, just another view point.

Thanks for listening.[smile]

Seamsealer
That may be what they want, but if they refuse to cash a check that is drawn on them, I believe that amounts to a "Dishonor" under the UCC and sets them up for exposure both to the drawee and the maker (their customer).
 

Rockrivr1

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BoA just screwed up my Credit Score due to an error on their part that I now need to fight them to fix. My wife and I had a small personnal loan from them that my wife has been paying. The last payment on the loan was in July, but for some reason they still had a very small balance on it. Basically a few dollars. That amount wasn't indicated in the last statement they sent, we had no clue it was there and BoA never sent an additional statement saying anything was owed. In October we got a letter saying we were 90 days delinquent on our loan payment. We called them and got it straightened out. The lady we talked to on the phone even indicated that it was the banks fault and she would take care of it.

Fast forward to a week and a half ago, I ordered a credit report along with my credit score. I ordered it as I got a letter from another credit card company saying they were cancelling my card due to lack of use and negative activity on my credit score. Well, I got the credit report yesterday and BoA hit my credit report with a 90 days plus deliquency on our loan payment. That one hit dumped my credit score over 95 points. [shocked] "F"ing a**h***s. Now my wife and I have to try and straighten that shit out to get it removed from my credit report. Damn, now I'm all pissed off again. Friggin BoA!!!!
 

Zappa

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I hate BOA. I became their customer by default when they bought out another bank (one I didn't care for either), and that was because the bank I originally signed up with was bought out by them.
I got sick of their crap about 5 years ago, closed my accounts and took my business to a nice small local bank that treats me like a person, not a number.
BOA is so clueless that they still send me monthly statements showing zero balance and zero activity on an account I closed in 2003. For years they've been threatening to charge me an $18 monthly "maintenence fee" if I don't maintain a minimum balance of $2500. They haven't done it yet, but when they do, let the games begin. [frown]
 
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Lets see, my wife worked for Fleet, before Bank of America, before that it was Bank Boston, before that it was Bank of Boston and before that, early 80's it was Old Colony Bank. A long way back.
Most businesses use a commercial bank for their accounts. Big banks offer more advantages than small local or savings banks. Most of us put our money in a local bank to be free of fees and charges. The only problem is, most local and small banks are not convenient for most of us, but the big banks are everywhere. So, the big banks want to service their own customers and everyone else is a problem for them. They want a check cashing fee and ID and finger print, or, go to your own bank. Facts of life I guess. I have Bank of America accounts and I have to swipe my ATM card for them to cash a lousy rebate check for $8.00. That's just the way it is these days.
As far as bad checks, some are stolen or counterfeited and cashed and the bank eats it. I know, Bank of America is a dog, but I have never had any problems. Maybe because I have an "insider". [grin]

Seamsealer
 
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Lets see, my wife worked for Fleet, before Bank of America, before that it was Bank Boston, before that it was Bank of Boston and before that, early 80's it was Old Colony Bank. A long way back.
Most businesses use a commercial bank for their accounts. Big banks offer more advantages than small local or savings banks. Most of us put our money in a local bank to be free of fees and charges. The only problem is, most local and small banks are not convenient for most of us, but the big banks are everywhere. So, the big banks want to service their own customers and everyone else is a problem for them. They want a check cashing fee and ID and finger print, or, go to your own bank. Facts of life I guess. I have Bank of America accounts and I have to swipe my ATM card for them to cash a lousy rebate check for $8.00. That's just the way it is these days.
As far as bad checks, some are stolen or counterfeited and cashed and the bank eats it. I know, Bank of America is a dog, but I have never had any problems. Maybe because I have an "insider". [grin]

Seamsealer


you forgot BayBank [smile]
 

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I lived thru multiple Fed take-overs, buy-outs, etc. that became Citizen's Bank. They sent a book (~125 pages) with their fees and rules to all account holders. I said "good bye"!

I use a local credit union. It's convenient since I work out of my house, but even if it wasn't so convenient, they really do take care of their customers and employees. I was in their main branch on Friday, 1/2 hour after the snow began. The president of the CU was in their with their management and told them to release as many employees as possible as soon as possible, starting with those that live furthest away.
 
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I don't really like any of the banks, they all seem to stick me one way or the other. I'm with Rockland Trust right now and I've had little to no issues there. The only problem is there aren't any branches north of Quincy, haha.
 
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Just say No. They'll ask you for a photo ID. I ran into it this fall when I went to WDW and asked them if I had to give the fingerprint. They said that they'd accept a photo ID.
Of course, you gave them your LTC, right? Anyone remember at Jillian's when they started carding people and I took out my LTC, and then the whole group followed? [rofl]


Lets see, my wife worked for Fleet, before Bank of America, before that it was Bank Boston, before that it was Bank of Boston and before that, early 80's it was Old Colony Bank. A long way back.
Most businesses use a commercial bank for their accounts. Big banks offer more advantages than small local or savings banks. Most of us put our money in a local bank to be free of fees and charges. The only problem is, most local and small banks are not convenient for most of us, but the big banks are everywhere. So, the big banks want to service their own customers and everyone else is a problem for them. They want a check cashing fee and ID and finger print, or, go to your own bank. Facts of life I guess. I have Bank of America accounts and I have to swipe my ATM card for them to cash a lousy rebate check for $8.00. That's just the way it is these days.
As far as bad checks, some are stolen or counterfeited and cashed and the bank eats it. I know, Bank of America is a dog, but I have never had any problems. Maybe because I have an "insider". [grin]

Seamsealer
At a small bank, they know your face and your name. One time, I went in there and found out I forgot my checkbook. They gave me a temporary check on the spot so I could cash it on a Saturday to have cash for the weekend. THAT is customer service. There IS something to having a local bank and knowing your bankers. This was Leominster Credit Union.
 
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namedpipes

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. . . So, the big banks want to service their own customers and everyone else is a problem for them. They want a check cashing fee and ID and finger print, or, go to your own bank. Facts of life I guess. I have Bank of America accounts and I have to swipe my ATM card for them to cash a lousy rebate check for $8.00. That's just the way it is these days.
As far as bad checks, some are stolen or counterfeited and cashed and the bank eats it. I know, Bank of America is a dog, but I have never had any problems. Maybe because I have an "insider". [grin]

Seamsealer
But cashing a check drawn on a BoA account IS servicing their own customers. Unless every business and every person becomes a BoA account holder, then quite often one side of the transaction is NOT a BoA customer.

I think you can strike the "maybe" from your comment...

During the 90's bank gobbling spree, I had to change banks about 6 times before I got to one that avoided the fray.

And of course, I get a smile and a "Hi Bob, how are the kids" when I walk in the door.

They've never finger printed me and as my driver's license was accidentally expired when I opened the account years ago, they accepted my ltc instead, without shuddering or signaling the lobby guard.

Hey! I just had a great idea! Go Green and maybe we can leverage your inside connection to score a couple of old ATMs for an NES ATM Shoot! Do a search here for pumpins or "car shoot" for more info [laugh][laugh][laugh]
 
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dwarven1

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Of course, you gave them your LTC, right?
Don't remember. I do know that I used it as ID when I was going through the Takes Scissors Away checkpoint. TSA guy didn't bat an eyelash.[/QUOTE]

Moderator: Please delete this post or provide the ability to do so. Thank you.
Three years and you're still whining about not being able to delete the post. Just do what others do and put a period there or something and stop whining. Or better yet, think twice before posting something you obviously want to take back.
 

Metalhead

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A bit of a rant......So my Wife took her Paycheck, which is on a Bank of America account, to the Bank of America to cash it.

Now, in addition to requiring her to put her Thumbprint on the check ( which makes absolutely NO sense), they told her they were going to charge her SIX DOLLARS to cash the check - which is on an account in their Bank !!![shocked]

She started to loudly ask ( so that other people in the Bank could hear) - "So...you're telling me that this check, which is a BANK of America check is NO GOOD.???....Us Taxpayers give you billions of dollars to bail you out and now you want to charge me for cashing a check YOU issued !!!"....The Clerk asked her is she wanted to talk to her supervisor ( who was quickly exiting the scene as fast as possible )....My Wife just loudly said "No...I'l just Never Ever do business with this Bank again..."....walked out, went to the DCU and cashed the check no problem...

I think they need to change their name to:

Bank of Amerika.....
The fee should not be charged if the check presented is drawn on a BOA business account. The fee is only charged to non-customers cashing checks drawn on personal accounts. Don't ask why I have such specific information please. ;)
 
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But cashing a check drawn on a BoA account IS servicing their own customers. Unless every business and every person becomes a BoA account holder, then quite often one side of the transaction is NOT a BoA customer. I think you can strike the "maybe" from your comment... During the 90's bank gobbling spree, I had to change banks about 6 times before I got to one that avoided the fray. And of course, I get a smile and a "Hi Bob, how are the kids" when I walk in the door. They've never finger printed me and as my driver's license was accidentally expired when I opened the account years ago, they accepted my ltc instead, without shuddering or signaling the lobby guard. Hey! I just had a great idea! Go Green and maybe we can leverage your inside connection to score a couple of old ATMs for an NES ATM Shoot! Do a search here for pumpins or "car shoot" for more info [laugh][laugh][laugh]
We all sit here and talk about check cashing and how tough it is sometimes, but there is a lot of fraud out there and the banks do everything they can to reduce losses. The bad checks are eaten most of the time by the bank, they just take it on the chin for not being diligent about their customers. Your right, they won't accept an expired drivers license, it's not valid.
This is great, glad I hit a good subject people know about.[rofl]

Seamsealer
 
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namedpipes

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We all sit here and talk about check cashing and how tough it is sometimes, but there is a lot of fraud out there and the banks do everything they can to reduce losses. The bad checks are eaten most of the time by the bank, they just take it on the chin for not being diligent about their customers. Your right, they won't accept an expired drivers license, it's not valid.
This is great, glad I hit a good subject people know about.[rofl]

Seamsealer
Never mind the fraud! Can you get a couple of junker ATMs for a shoot?!
 
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