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Discussion Starter · #1 ·
We recently deposited a check for a decent amount of money (~1k) into our checking account and then received a call from the bank asking what the money was for?

WTF?

What business is it of theirs? I could see if uncharacteristically we were writing large checks or money was being withdrawn and they wanted to make sure somebody wasn't stealing our money.

So why would they care about money going in? My wife basically got annoyed with them and told them not that it's any of their business but it was a reimbursement check for travel expenses. It wasn't even a personal check but a check from my place of employment.
 

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still shedding season
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What was it for, as in you're sure you interpreted their question right? The only thing I can think is that maybe they wanted to know if it was for your checking or savings, etc. That's maybe a bit of a reach, but I have never heard of such a thing.
 

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Captain Obvious
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was the checked issued from some odd bank? my only thought would be the bank on the check has been used in some sort of scam.

otherwise, makes no sense.
 

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Shirtcocker
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tomk96 said:
was the checked issued from some odd bank? my only thought would be the bank on the check has been used in some sort of scam.

otherwise, makes no sense.
Maybe they thought he was trying to launder drug money?
 

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Windrider (Stubborn)
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Post 9/11, Banks have a requirement to flag certain types of cash movements to the fed'l government. Off the top of my head, I don't remember the specifics, but I would suspect it has something to do with that.

Len
 

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Captain Obvious
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Len J said:
Post 9/11, Banks have a requirement to flag certain types of cash movements to the fed'l government. Off the top of my head, I don't remember the specifics, but I would suspect it has something to do with that.

Len
i thought that too, but it seems like the amount is too small for something like that.

i have to sign anti money laundering paperwork every year. i have no ability to put money into or take money out of our company. politicians are moreons.
 

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Mehpic
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Len J said:
Post 9/11, Banks have a requirement to flag certain types of cash movements to the fed'l government. Off the top of my head, I don't remember the specifics, but I would suspect it has something to do with that.

Len
the amount that triggers that is well over $1k.
 

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Discussion Starter · #8 ·
kykr13 said:
What was it for, as in you're sure you interpreted their question right? The only thing I can think is that maybe they wanted to know if it was for your checking or savings, etc. That's maybe a bit of a reach, but I have never heard of such a thing.
No, the question was definitely about why are you receiving this money. It's not the first time, happened once before as well. The check is from my employer which is a state university. Can't say for sure but the previous time was likely from them as well.

My wife asked around and a couple different people told her they left this bank because they felt they were too nosey.

Seems really odd to me.
 

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hello
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Did you get this money from Ed McMahon?
 

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Shirtcocker
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Dwayne Barry said:
No, the question was definitely about why are you receiving this money. It's not the first time, happened once before as well. The check is from my employer which is a state university. Can't say for sure but the previous time was likely from them as well.

My wife asked around and a couple different people told her they left this bank because they felt they were too nosey.

Seems really odd to me.
Umm...find a different bank? If they ask you why you are leaving tell them.
 

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Regulations mis-enforced

This is the problem with the banking legislation that came after 9/11. Basically there has been major fines handed out to banks who don't research every "suspicious" transaction. The regulators come in later and question why certain transactions were not researched. So to keep themselves out of trouble most banks have been forced to throw a really wide net and have come up with very loose definitions of what entails "suspicious" activity. There used to be an amount requirement but it isn't rigid as it used to be.

My guess it this was probably flagged as "suspicious" as it is outside of your normal banking behavior. Then the person handling it and wanting to protect their job decided to call you rather than taking a closer look and seeing it made sense. There is only downside to the employee if someone second guesses there decision to not follow up, so they took the safer path and gave you a call.

Finally hit the big 100 posts! took long enough
 

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still shedding season
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Bocephus Jones II said:
Umm...find a different bank? If they ask you why you are leaving tell them.
Very wierd and I'd do the same. Can they legally ask where you got the money? Not that it really matters I guess, the easiest way to deal with that is to just leave.
 

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Meow!
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Not only was the bank's question odd, but it also strikes me as pretty stupid. Even if the bank has some legitimate basis for the question, do they really think that somebody who is laundering money is going to admit to it to them?
 

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Frog Whisperer
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I have been banking in the same bank for 26 years, with several of the same people....the first time they ask me what a check made out TO me is for is that last money I deposit in their bank. As far as I know even a 10,000 CASH deposit, on which they MUST file federal paper work, they don't ask what it was for.
 

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Frog Whisperer
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macalu said:
Shoulda said, "I'm laundering my illegal drug money from the State University. What's it to ya?"
There....fixed it......

they were just being nosy.....ant people like that cannot be trusted to keep any other business confidential ...period
 

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Premium Member
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I'm thinking the standard Lounge answer would have been the way to go.

Hookers and Blow.
 

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Collin's Dad
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Before running away from the bank, I'd talk to someone higher up at the bank about why you were being questioned about stuff like this.
 
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