4wanderingeyes
5 year old buck +
I have heard from a couple businesses that when they go to deposit cash into the bank, the banks wont take cash, they tell them it is a cashless bank. That they need to go to one of the main branches to deposit it.
Then yesterday I read a story of banks not letting people withdraw their money from the bank in cash form. They required them to let them know what the money was going to be used for. They refused to let one person withdraw their money, even after calling the day before to let them know they were coming in and how much they wanted.
In the past, I have ran into issues depositing anything over $5000, I would need to go into the bank and fill out a form, inform them where the money came from, while I thought it was stupid, I didnt realize in reality, it is no longer your money, once you deposit the money in the bank. In fact, they require you to tell them what you are going to use it for, and where you got it to deposit it. The bank told me it was a Federal requirement for deposits for money laundering, and drugs.
I dont know what the answer is, but the Big Guy is over stepping his boundaries!
Then yesterday I read a story of banks not letting people withdraw their money from the bank in cash form. They required them to let them know what the money was going to be used for. They refused to let one person withdraw their money, even after calling the day before to let them know they were coming in and how much they wanted.
In the past, I have ran into issues depositing anything over $5000, I would need to go into the bank and fill out a form, inform them where the money came from, while I thought it was stupid, I didnt realize in reality, it is no longer your money, once you deposit the money in the bank. In fact, they require you to tell them what you are going to use it for, and where you got it to deposit it. The bank told me it was a Federal requirement for deposits for money laundering, and drugs.
I dont know what the answer is, but the Big Guy is over stepping his boundaries!