ABSDOLUTELY STUPID New Rules

[oredigger62]

Funny how the banking system works as a whole. I have had the same bank for the past 15 years and keep my balance at $101.00 all the time and only do a small transaction every few months because i went to use my debit card only to find out that it was cancelled due to inactivity. A week later my new card arrived. So one day i was feeling a little froggy so i went into the bank and went to the financial officers desk for some answers. He looked up my account , rubbed his chin a couple times , then asked a few questions. He wanted to know why i averaged 40 dollars a year deposits and transactions. Just how did i live ? So i informed him that i don't get loans that i pay for everything up front. He asked me if i was a drug dealer or a pimp. I really wanted to punch that guy !!! Anyway , after explaining to him about how i use my paypal card for everything and how i withdraw money for free every day when i get cash back he tried to tell me that i couldn't survive that way. Been doing it for years. He finally told me that i should just close my account because i wasn't profitable to them... i was happy to oblige . I am 55 years old and don't need a 28 year old asking me if i am a drug dealer because i don't have a use for the bank he works at.

When we first moved to Phoenix we opened an account with Wells Fargo because we saw a bank on what seemed like every other corner. We deposited $40,000 cash because we couldn't just leave it laying around and they never so much as asked a question. I didn't care much for them either . In the end i found that a credit union was much more pleasant and have been happy with them . But i don't take out loans so not sure how they are in that respect.

 

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[ChampFerguson/TN]

Agree, jerking you around. Find a new lender. TONS of them out there. Start with the credit union that you should be doing all your banking with anyway.

 

[: Michael-Robert.]

Just do a 60 day closing. If the money you got from selling the gold sits in your account for 60 days, they can not ask you any questions by law. If the money has been in the account less than 60 days, they can ask were it came from and harass you legally. New banking laws after 9/11 and FACTA.

 

[ScubaDetector]

Agree, jerking you around. Find a new lender. TONS of them out there. Start with the credit union that you should be doing all your banking with anyway.

I TRIED the credit union here. Unfortunately it is a foreclosed home and all the utilities are shut off. The bank that owns the home Chase bank REFUSES to have the utilities turned on. The credit union will not do a mortgage unless it can be inspected with the utilities on. I can't get a VA loan on the home for the same reason. I had to go conventional.

This has been a nightmare from the beginning!

 

[ScubaDetector]

Just do a 60 day closing. If the money you got from selling the gold sits in your account for 60 days, they can not ask you any questions by law. If the money has been in the account less than 60 days, they can ask were it came from and harass you legally. New banking laws after 9/11 and FACTA.

I would if I could. Chase bank only gave me 60 days from the date they signed the purchase agreement to close.

 

[Tom_in_CA]

.... Tom, of course i turned it all in to the police!! ....

Good. We knew you did right, since .... as a former LEO, you know the lost & found laws.

So now it's merely a matter of finding the receipts that the police gave, when you went to get the rings/gold that wasn't claimed. Gotta be around your house somewhere, eh ?

 

[ScubaDetector]

Good. We knew you did right, since .... as a former LEO, you know the lost & found laws.

So now it's merely a matter of finding the receipts that the police gave, when you went to get the rings/gold that wasn't claimed. Gotta be around your house somewhere, eh ?

This deserves my highest award!!

 

[TommyB]

I don't see that amount as LARGE. You could have had that cash stashed in your safe at your place for "just in case".
Maybe you just decided to deposit it in the bank to make the purchase. No crime in that. Maybe was recycling money saved from turning in your cans and bottles over several years.
Just some ideas......
Good Luck

 

[ScubaDetector]

I don't see that amount as LARGE. You could have had that cash stashed in your safe at your place for "just in case".
Maybe you just decided to deposit it in the bank to make the purchase. No crime in that. Maybe was recycling money saved from turning in your cans and bottles over several years.
Just some ideas......
Good Luck

NOT allowed with the new rules in place. You are NOT allowed to have cash. I proved that I was taking 350.00 a month out of my VA benefits. THAT was also illegal to say I was saving it up outside a bank.

 

[Davers]

I am going through Quicken Mortgage. I was told Obummer tightened the anti money laundering laws. The bank has never given me a problem it is the mortgage company. It is already at their underwriting and I might not be able to get the loan because of the deposit.

Tom, of course i turned it all in to the police!! Unfortunately even with the gun I gave them they never gave me proof of ownership. They just gave one gun back after a year and a half. Well maybe I just told them about some of it?

I gave the bank a grand earnest money in cash I had also. I just took it to the credit union here and got a cashiers check for it. Found out yesterday that was also not allowed because of the federal laws. I had to take it out of savings yesterday and get another cashiers check, give it to the realtor and they had to write me a check for the first grand I gave them.

You are NOT allowed to have cash to buy a house or you are a drug dealer.

Unfortunately
Since yr labeled as a Drug Dealer , You need to think like one.

We are working our way to the "Mark" we must have to buy or sell . Be it the Govt. or someone / something else they want to know everything about you & what you do & how.
Life 's gettin fun , a crazy game to play.

 

[Davers]

I don't see that amount as LARGE. You could have had that cash stashed in your safe at your place for "just in case".
Maybe you just decided to deposit it in the bank to make the purchase. No crime in that. Maybe was recycling money saved from turning in your cans and bottles over several years.
Just some ideas......
Good Luck

Well I guess most of us are Felons.

 

[HenryWaltonJonesJr]

I thought this was pretty funny:

 

[ScubaDetector]

I thought this was pretty funny:

View attachment 1424573

Their rocket CRASHED!

 

[Duckshot]

Too much federal regulation will eventually foster a black market banking system.

A black market is a free market.

 

[SusanMN]

The reason the bank, actually the mortgage underwriters, are being so picky is that they are trying to verify that someone didn't "gift" you the money or borrow you money, since any gifted money must be documented so that it isn't actually a loan. loans have to be paid back and so banks want to be sure exactly what your debt is. So any money being deposited gets questioned. They may be concerned that relatives or friends or whoever gave you a loan by giving you gold to send in for melt. If you have previously sent in your gold, you might see if a history of those transactions is available from your refinery to prove this is a regular activity for you, which I think will satisfy them.

And just one more thing about the home loan process. Immediately after you apply for loan the bank sends out verifications of balances on your checking and savings account. They then do that again as the loan process is nearing completion. So, any special deposits or unusual income sources should go into your account well in advance of your application. This is a standard process regardless of your balances or your credit score.

 

[Rawhide]

I would ask the bank to prove you didnt own it. I would get another bank. I also would ask the clerk to prove she is not from outer space, as her request is on the same level. Could always tell her your a sovereign citizen and tell her to google it. lol

 

[Honest Samuel]

I must be nuts to bank at Chase. Go to other banks and good luck. Lesson to be learn, if found large buried treasures worth a lot of money. Pay your income taxes and you have no worries.

 

[DannyB.]

$2800.00 is in no way a large deposit... and, it aint their business to know how much cash you keep at home. it certainly is not illegal in any way to keep cash at home. MIND BLOWN!!!

 

[ScubaDetector]

$2800.00 is in no way a large deposit... and, it aint their business to know how much cash you keep at home. it certainly is not illegal in any way to keep cash at home. MIND BLOWN!!!

I am not allowed to have a grand at home and use it for earnest money to buy a home. That is FEDERAL LAW.

I absolutely agree this whole fiasco is STUPID. How does anybody prove they own anything they sell and make money off of unless they have a title or a bill of sale for it that they kept forever. I have absolutely no proof I own my scuba gear or detectors. So how do you prove anything you have was yours to sell? Mind boggling.

 

[coinman123]

The bank is right. You DIDN'T "own the gold in the first place". You violated your state's lost & found laws, to even have it in the first place. What's not to understand ? Look up your state's lost & found laws, and you'll see that whenever you find something over a certain dollar value (usually $100 to $250, depending on the state), you were to have turned it in to the police dept. lost & found. Then after 30 or whatever days, if no one claims it, THEN you get to have it.

Certainly you saved those receipts from the police dept. , showing that you now are the legal owner, right ?

I could imagine someone turning in a solid gold colonial shoe buckle to the police as lost & found, and some person came in and said it was their grandma's, who lost it a few years ago. Did I mention that their so called grandma passed away two weeks ago and anything belonging to her means the world?