OOPS! Turns out you should never question a bank

[Heretic]

Yeap. If they want to be asses, then take your business else where or let them know that.

But, the CTR isn't that big of a deal. Funniest thing concerning it at the bank I used to work at was a guy came in with a **** load of cash, I told him about the CTR, and he refused to deposit the cash. His concern was that the IRS and the Government would get all his info. I then told him that they already have all his info because he pays taxes every year. And, if he doesn't pay, the IRS can find all of your US bank accounts in a snap to put a hold on your account until you pay your taxes. Even when he signed up for an account, he had to give up all his info so the bank already has it anyways. People don't think sometimes.

Yeah, it wasnt that I had this "ooh, the IRS is spying on me" type attitude. My concern was is this bank reporting on their records that this money is MINE...which might make the IRS a little curious. I simply asked a question of what they were using my info for and I got a very secretive "we dont know, but its for the government and its to late now, the IRS already knows about your transaction". All I wanted was clarification that this was not being reported t the government that I was the one who earned this money and at that moment I STILL didnt know if the bank was claiming that this was MY money or not...so I got agitated and asked more questions...which caused them to report me to the IRS and the FBI.

I did not find out what a CTR is until after I returned home. NONE of the drama that unfolded in the bank would have happened if the teller or bank manager had simply informed me of what a CRT is.

 

[chaseter]

They won't think the money is yours. You are putting it into an account that is not connected to you and you are depositing a check that has nothing to do with you. You are simply a runner.

 

[Heretic]

They won't think the money is yours. You are putting it into an account that is not connected to you and you are depositing a check that has nothing to do with you. You are simply a runner.

I understand that, and more than likely the higher ups will review the case and determine that it is not a suspicious case, since this corporate account has large amounts deposited into it all the time...and they'll then decide that there's no reason to even inform the IRS and FBI...

Its the point of it all...I shouldnt have had to go through that.

 

[chaseter]

I agree, that shouldn't have happened. But, next time you will know how to get out of that situation. I would even tell your boss or a higherup what they put you through and have them complain to the bank manager.

 

[Heretic]

I agree, that shouldn't have happened. But, next time you will know how to get out of that situation. I would even tell your boss or a higherup what they put you through and have them complain to the bank manager.

I dont really have a higher up since Im self employed. Like a prostitute, I work for whatever band, label or club is willing to pay me (and I never kiss on the mouth). That's kind of why I dnt want weird amounts being reported to the IRS. I claim my earnings every year, but theoretically I COULD do tons of work under the table making money. So, if a bank DID report an extra ten grand or so coming from me, I may have to explain where it came from. Not that 10 grand is really a big deal, I deal with way more than that all the time, and on a good night at a club I can make 10 grand in a matter of hours...but I report my earnings, and itd be weird if it seemed like I was making way more than what I claim.

But again, a simple explanation would have been all I needed.

 

[Cunning Stunts]

... Whatever job you have, I'd like a PM from you telling me how the hell to get it.

Assuming it's not prostitution. You ****e.

 

[Alex The Great]

Hah, I wish I could go to a bank with a gun, not to rob em, just fire off a round.

Me: Hey! You the manager? get on your knees. Ok? Now I have one Question for you, there are 7 booths but only 2 chicks here, where are all the freaking Tellers?
Manager: Their on lunch
Me: See, there's where you're an idiot. it's everybodys lunch, most of us here are skipping lunch to do our banking! It's not like I go to a Restaraunt and think ''Oh god, i'm going to be waiting a while, the Chefs are on lunch!''

 

[Ahura Mazda]

Actually every single bank in the world soes a trace check when depositing any amount over a set limit which usually is 10k. In Europe, it is called a KYC. And if there was no one doing this, then you would end up haviong all types of criminals depositing money without even having to create shell companies to do so.

 

[Alistair]

Heretic,

That sucks, and that's why I don't join banks anymore. I try to do Credit Unions (Some are evil too, but generally better than Banks, bar none).

Anyways, I do have a little story, tho. Hehe.

Back when I broke up with my Ex of 4 years, and we had a joint account (So there was proof we we're together so we can get insurance) which I was primary of. I went to cancel it, after she (Didn't care about the money, since she took off with mostly everything) left for another state.

At any rate, I canceled the account, and I wanted to start up a new one. Keep in mind I had this account, in good standing for 3 years, and we did keep putting money in it so had back up money for medical or what not) I finally got through all the paper work, and after I told 'em that I would like to start a new account before this was finished.

They said all right, and then they turned around and did a credit it check, and said I failed it... One of the few times that I said " **** you!!! " and walked out with about 500 dollars. That's when I went to a Credit Union (I've been with 'em before) that a friend belonged too, and got in there with no questions asked. =)


Well's Fargo sucks. =D

Ali

 

[Metamorpho1977]

I went into the bank today to deposit some money into a producer's account for a band's new album. I am not in the band, but instead am merely an employee of their corporation...so it wasn't my money.

They asked for my ID and I gave it...then asked..."why do you need my ID?".

You see, the money was being paid from one corporation (which I am not an owner of or holding any legal rights to) to another corporation.

She said "it's for the government".

She then asked for my social security card, and I gave it and asked..."just out of curiosity, why does the government need all of MY info, when I am not legally bound to this money in any way...I'm just dropping off the deposit because I'm in the area".

The branch manager came over and asked what my problem was and I told her that I didnt have a problem, but I was just curious as to what the reasoning was for wanting the depositers info. I was sure there was one, but had never been asked to give it before and I was curious as to what the reasoning was. She informed me that "it's for the government" and that it was a CTR and that was all she could say. I then informed her that the letters CTR mean nothing to me, and asked if she could clarify what that stands for, or perhaps I could see the form. She refused to allow me to see the form and said "the government already knows who you are, it's automatic, so it's too late anyway".

At this point I informed her that I felt that I was being treated like a criminal, and said, "I really would just like an explanation as to what this form is". She said that the form was used hundreds of times a day, but she did not know what it was for. "It's for the government and that's all you need to know".

I informed her that "the government" once viewed blacks as property, and "the government" once thought that women were not intelligent enough to vote...and that "it's for the government" really doesn't explain anything...so surely at some point she had questioned why she was doing something "hundreds" of times a day...

She then let it slip that because I was questioning her, the IRS would be looking into my personal accounts, and that the deposit had been flagged as a possible criminal activity for the FBI to investigate because it's not normal to question the government.

The bank manager still claimed to have no clue as to what a CTR even was...

So...I got back home and did a Wikipedia search and very easily found out what this form is...again...a form they deal with "hundreds" of times a day yet have no clue as to what it is. The form is actually a method of trying to track money laundering and it is automatically printed by banks when the deposit is a large sum. That's a pretty legit reason...but the mere act of questioning it has caused an IRS and FBI investigation into why I made that deposit. I find that rather silly.

The point is...never question why a bank does what they do.

To play devil's advocate, the way you interrogated the bank employees when handling large sums of money just made you sound guilty.

 

[Heretic]

To play devil's advocate, the way you interrogated the bank employees when handling large sums of money just made you sound guilty.

When handling lots of money, I am NOT supposed to be cautious and inquisitive about what is happening to it???

 

[Metamorpho1977]

When handling lots of money, I am NOT supposed to be cautious and inquisitive about what is happening to it???

It's ok to be cautious. Just that the way you questioned them, I'd be thinking this guy's up to something if I was working at the bank.

 

[Heretic]

So...in general...when someone is copying your social security information, the answer "I dont know what I'm doing with this or what this form is, but it goes to the IRS" is a GOOD response for you? Your questions are done at that point?

 

[The Guard]

I don't know that your questions would be done at any point.

It sounds like they gave a purposefully vague answer. Read between the lines here people. It's generally a bad idea for an employee or manager to "volunteer" certain kinds of information in a customer service environment. Why?

Because a certain percentage of the population will immediately feel "suspected" and "persecuted", and will escalate darn near any situation with paranoid and almost endless questions and concerns stemming from that.

It sounds for all the world like Heretic probably acted one of those semi paranoid, oversensitive types who loses it quickly in customer service situations, gets all bent out of shape, wants to know details about everything, even when people have no details or clearly aren't supposed to give them...and then feels "persecuted" because he ends up looking suspicious, or because he is not satisfied with the answer he is given. Tell me, were you typing in all caps in the bank?

It is somewhat irrelevant whether or not you think they trust you. It's not a bank's job to trust you. It's a bank's job to keep money safe, and to keep detailed records of that money, and all transactions involving it.

I'm iffy, however, on why you would ever think they'd report this as YOUR money when it's not going into your account. Have you never handled a large sum of money before? Do you think all large deposits you make into someone else's account go down as YOUR money to the IRS?

Had you refused your ID and demanded the money back you WOULD have been flagged for sure. That kind of behavior can appear suspicious as hell.

You're acting here like someone guaranteed you'd be interrogated by the FBI or the IRS because of all this. That's just not the case here. That piddling amount to you and your business is pretty piddling to the FBI and IRS, too, unless it's tax related.

What they did sounds like bank policy. Basically they needed the information for their records. Surely you know what "records" is. I don't think they "owe" any explanation beyond that. They are not just obtaining your precious personal info...they're establishing, via their records, a trail for large deposits...not just for the government to "keep an eye on", but in case something goes wrong at some point.

Not knowing the answer to something that has nothing to do with your job directly is not bad customer service in any sense.

You can either adhere to this policy, or go somewhere else.

Whether you think SOME OTHER PLACES may not do this doesn't really matter, because this one does, and its likely somewhere in someone's big long contract with them as well.

I like how people pretend SSN's and TIN's are hard to come by.

But I agree that overdraft fees suck.