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Vamp
08-02-2013, 06:09 PM
^ Lmfao! Also I haven't heard of using an envelope for deposits in ages. Most machines say NOT to use envelopes and since BOA and Merrill lynch are one ( both whom have hefty amounts of my money) I don't think their in any kind of trouble....

I just used that as one example that I had experienced while being a banker. The point wasnt about the envelopes. The point was that various types of activity can be report to chexstystems.

I never said they were in trouble. I said they were mismanged. I was a banker for 15years. Every time I had to deal with BoA paperwork it was a nightmare. They didnt follow regulations, procedures, and caused more headache for customers.

Vamp
08-02-2013, 06:20 PM
Are you sure about the picture ID? I opened my bank account online and have never set foot in a branch office, so they've never seen a photo ID, or even know what I look like. It's not even in the same state as me.

The regulations I am talking about and have experience with are brick and mortar locations. So I looked up to see how it effects the type of online banking you are talking about ...

"A. The institution must verify the identity of any person seeking to open an account by obtaining customer identification that includes:

1. Name
2. Date of birth
3. Address
4. Identification number -- a taxpayer identification number for American citizens or a government-issued document for noncitizens.

B. The institution must maintain records of the information used to verify the person's identity.

Originally, the regulations required financial institutions to keep a photocopy of whatever document was used for identification. That rule has been changed; they will only have to keep a written record of the document.

C. Determine whether the person appears on any lists of known or suspected terrorists or terrorist organizations provided to the financial institution by any government agency."

http://www.bankrate.com/brm/news/bank/20030930a1.asp

I would imagine that it is guaranteed they would verify your social security number with the SSA. Meaning they electronically check your name and info against what is on file with the Social Security Administration. I know Walmart does this with their prepaid reusable debit cards for example.

Vamp
08-02-2013, 06:35 PM
OK then this is all bullshit as well ... from http://www.fiercefinance.com/story/bank-america-branch-closures-stoke-controversy/2012-08-21#ixzz2aqsS7ZLV


(snip)"Everything that Bank of America does is controversial--and magnified.

While it is no longer the largest consumer bank, it continues to be a lightning rod for criticism. The issue of bank branch closings is especially sensitive right now, in this down economy. Bank of America is in the middle of a drive to reduce its branch network.

The Charlotte Observer reports that "Nearly a third of the closures last year occurred in low- to moderate-income communities. And while that's roughly in line with the percentage of such branches in the bank's overall network, it worries some banking experts and consumer advocates, who say eliminating bank branches has a disproportionate effect on the poor and their neighborhoods, removing important community anchors and raising the cost of banking. At a time when big banks across the country are stepping up efforts to cater to their most profitable customers, advocates worry that others could be left behind."

Bank officials told the paper that will add more branches in low- to moderate-income neighborhoods than other big banks.

"Branches in those neighborhoods, where the household income is less than 80 percent of the geographic area's median income, made up 27 percent of the bank's total network at the end of 2011. That compares with 24 percent for Wells Fargo and 23 percent for JPMorgan Chase."

It looks like Bank of America wants to get in line with the percentages at its two big competitors. It's tough because the bank pretty much has to chase profits, though the idea of having to shutter branches in areas where they are sorely needed will not sit well with many. Of course all banks are rationalizing their branch networks right now."(snip)

Is that because of their own issues or because they just want rid of poor customers? BoA is past market saturation because of their purchases of many other smaller banks. It would be interesting to see how many of those smaller banks were in low to mod income areas to begin with.

At the same time the Community Reinvestment Act has a formula that banks have to abide by. I dont know the specifics. But basically brick and mortar branches have to serve everyone in the surrounding communities of all income levels if they meet the banks criteria to open an account. Closing those branches doesnt stop poor people from walking thru the door.

Compared to Chase and Wells Fargo; BoA is an albatross. Their strock price reflects that. BoA should of trimmed the fat years ago instead of taking on Country Wide and Morgan Stanley. That wasnt really their choice either though.

michele11
08-02-2013, 06:50 PM
I just used that as one example that I had experienced while being a banker. The point wasnt about the envelopes. The point was that various types of activity can be report to chexstystems.

I never said they were in trouble. I said they were mismanged. I was a banker for 15years. Every time I had to deal with BoA paperwork it was a nightmare. They didnt follow regulations, procedures, and caused more headache for customers.

Not you melonie did.

xxxGothBarbie
08-02-2013, 08:19 PM
More and more banks are becoming proactive in asking questions. The best thing anyone in the adult entertainment world can do is to be ready. Have a basic idea of how you respond if asked. Being a bitch about the question will get your account flagged. Banks can close accounts for any reason. Many banks have a "no adult/stripper/sex worker" policy.

Bank employees are required to ask questions. It isnt personal. If you can answer our questions, even if we know you are in the adult industry, we will turn our heads. Years ago when I was a teller this happened all the time. Woman is constantly depositing cash, manager sees, manager wants us to ask questions, we ask questions, she says she is a waitress, we put it on the account that she is a waitress, so if she goes to another branch there isnt an issue. We knew she was really a stripper. But we did what we had to do, we asked, and she answered. That is all that is required in those situations. If she didnt have an answer or was a bitch about it, we would of closed her account.


That's bullshit! Banks have NO right to close a person's account just bc they don't want to disclose their current employment/income situation. I can understand if you're depositing thousands of dollars in at once or in a week but really?! C'mon! I don't believe it~

charlie61
08-02-2013, 08:40 PM
Wells Fargo asked me what I did for a living when I opened up an account; I'm pretty sure they even asked my salary (I believe they were assessing me for risk). I'm not saying every bank does this, but mine did. Shrugs. :)

minnow
08-02-2013, 09:02 PM
A new bank account I opened in last few years protocol was pretty much in line with that outlined in Vamp post #52. I seem to recall them photocopying my drivers license. Because I was also opening a new credit card account, they asked me for place of employment/ income information. I seem to recall that Charlie was opening a credit card account with bank, which would account for them asking for her employment/income info.

I would guess for a "straight" checking account (i.e.- no associated credit card acct.),they wouldn't ask for that info- that's for Vamp to chime in on.

Vamp
08-02-2013, 09:15 PM
That's bullshit! Banks have NO right to close a person's account just bc they don't want to disclose their current employment/income situation. I can understand if you're depositing thousands of dollars in at once or in a week but really?! C'mon! I don't believe it~

If you read your deposit account agreement that is given to you whenever you open an account it states the bank reserves the right to close your account at any time for any reason. When you sign to open the account you are agreeing to that. Most banks have a stict ban on adult businesses and personal accounts. Adult industry employees and businesses are seen as too great a risk for banks and cost them alot of money. So instead of dealing with it they refuse to open those accounts or close them when they find out that is your profession.

Im not saying it is right, im just saying that is how the banks views it.

Vamp
08-02-2013, 10:02 PM
A new bank account I opened in last few years protocol was pretty much in line with that outlined in Vamp post #52. I seem to recall them photocopying my drivers license. Because I was also opening a new credit card account, they asked me for place of employment/ income information. I seem to recall that Charlie was opening a credit card account with bank, which would account for them asking for her employment/income info.

I would guess for a "straight" checking account (i.e.- no associated credit card acct.),they wouldn't ask for that info- that's for Vamp to chime in on.

Every account (checking, savings, etc) I have ever opened for thousands of customers, I was required to ask for employment information and photocopy ID. All my experience is in the midwest and with a brick and mortor locations. Every bank has different policies.

All I am saying is be prepared IF they ask that question. It can save you alot of hassle.

eagle2
08-02-2013, 10:46 PM
It sounds like you can save yourself a lot of trouble just by opening your account online instead of in person.

michele11
08-03-2013, 10:14 AM
Wells Fargo asked me what I did for a living when I opened up an account; I'm pretty sure they even asked my salary (I believe they were assessing me for risk). I'm not saying every bank does this, but mine did. Shrugs. :)

Yes because you where applying for credit. If you open a simple saving or checking which I have in nola, Denver, manhattan, florida, myrtle beach, I've never been asked what I do. I make large deposits daily when I travel and no one has asked what I do. I've had my fifth third account 24 years and they definitely now what I do, back when I worked the local the bank manager and the tellers knew. They use to make jokes lets see what Michele made this week....

michele11
08-03-2013, 10:16 AM
I also think if you make large cash deposits frequently and have quite a bit in your accounts they are less likely to question than someone who comes in with thousands of dollars and just opened the account and has no history.

Melonie
08-03-2013, 10:34 AM
It sounds like you can save yourself a lot of trouble just by opening your account online instead of in person.

Yes absolutely !!! Using an online application process instead of a face-to-face application in front of a bank employee will eliminate the possibility of '20 questions' being thrown at the applicant due to such observations as the applicant's appearance, demeanor, conversation etc.