the lesson of gofundme | Poal: Say what you want.

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[–] • 4 pts

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I had a strange banking experience a couple of weeks ago that seems to fit within the "the cash we allow you to have will be limited" category. So here's what happened: I gave a check to a guy for a thing. It was not a ridiculous amount but more than would be day-to-day typical. Let's call it $9,000. The guy didn't want to wait on his bank to do the deposit and presentment thing so he went to my bank to cash it. It's made payable to his order, he has ID, and it's properly endorsed (properly executed for you legal types) so should be no problem. "Go ahead," I say.

About 30 minutes later I get a call from the guy. He says, "They won't cash the check." I was confused because the money was there and I have written checks of similar amount before with no issues. So I call the bank and ask what gives. The response I get is, "We don't cash out anything more than $1,000 for non-account holders, and if you are an account holder, it is at our discretion." I have no memory of any policy like this and tell them so. The response I get is, "We dunno when it started but it is now." WTF!?

We go back and forth for a bit on why or how it is possible to refuse the demand for payment of a valid negotiable instrument drafted against a liquid deposit account in their possession, but the essence is this:

"Ok, so give the guy a cashier's check or counter check so it's guaranteed funds." "That form of payment is at our discretion and we've decided, No." "Ok, I'm coming down there to withdraw the money from my account in cash and give it to the guy myself." "That amount of cash withdrawal is at our discretion and we've decided, No." "So what's the fucking point of having a bank?" "it's a place to keep your money safe. What are you gonna do, walk around with thousands of dollars in your pockets or a pickle jar?" "If I can't get my own money out of my own account then yeah, I may as well, as it seems to be my only option." "Why don't you just write a check."

WTF!?!

BTW, bankers are morons. Don't let the pretense or attitude fool you. They only do what they are told without having any idea of why, just like everyone else seems to be doing right now. Those 2 gallon pickle jars at Sam's are looking pretty good right now.

I had a strange banking experience a couple of weeks ago that seems to fit within the "the cash we allow you to have will be limited" category. So here's what happened: I gave a check to a guy for a thing. It was not a ridiculous amount but more than would be day-to-day typical. Let's call it $9,000. The guy didn't want to wait on his bank to do the deposit and presentment thing so he went to my bank to cash it. It's made payable to his order, he has ID, and it's properly endorsed (properly executed for you legal types) so should be no problem. "Go ahead," I say. About 30 minutes later I get a call from the guy. He says, "They won't cash the check." I was confused because the money was there and I have written checks of similar amount before with no issues. So I call the bank and ask what gives. The response I get is, "We don't cash out anything more than $1,000 for non-account holders, and if you are an account holder, it is at our discretion." I have no memory of any policy like this and tell them so. The response I get is, "We dunno when it started but it is now." WTF!? We go back and forth for a bit on why or how it is possible to refuse the demand for payment of a valid negotiable instrument drafted against a liquid deposit account in their possession, but the essence is this: "Ok, so give the guy a cashier's check or counter check so it's guaranteed funds." "That form of payment is at our discretion and we've decided, No." "Ok, I'm coming down there to withdraw the money from my account in cash and give it to the guy myself." "That amount of cash withdrawal is at our discretion and we've decided, No." "So what's the fucking point of having a bank?" "it's a place to keep your money safe. What are you gonna do, walk around with thousands of dollars in your pockets or a pickle jar?" "If I can't get my own money out of my own account then yeah, I may as well, as it seems to be my only option." "Why don't you just write a check." WTF!?! BTW, bankers are morons. Don't let the pretense or attitude fool you. They only do what they are told without having any idea of why, just like everyone else seems to be doing right now. Those 2 gallon pickle jars at Sam's are looking pretty good right now.

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[–] • 0 pt

This is why bank runs are no longer possible.

The bank has no obligation to give to cash and can take up to 10 business days to give you any form of payment.

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