@Pizzagirl Not here. The reason I got a local bank account in addition to the one we use for everything else was no local bank would give me a roll of quarters if I didn’t have an account. When I was selling art at art fairs I needed to be able to make change, and I still need them for parking meters.
Mathmom, do they have change-counting machines in any banks near you? The machine counts your loose change and you can “redeem” it in whatever form you like, whether that’s bills or rolls of quarters/dimes.
Same here. As long as the bank allows a check or cash deposit into an account (and for a check deposit, without cash back) if my name isnt on it, I am willing to show them everything.
@partyof5. Thanks for pointing out the real concern that most people who do not rely on computer/gadget to do online banking (like me and my property manager) may have.
I know there could be several days before a check could be cleared. In case of having to transfer money more quickly, I am also interested in knowing a relatively easy and effective way to do this with SOME (but not too much) hassle.
Like PG said, doing everything electronically may be the easiest way to go in the long run. What needs to be “upgraded” may not be bank’s system (because we could not fight the big, bad bank in the end, and the Uncle Sam may ask them to do something for them - unless you are Apple, you can not say no. LOL.) It is the customer’s brain and their computer knowledge (and especially their confidence in it) that need to be upgraded. But first, we as customers need to know what policy the banks have as of today – but the bank’s policy, just like IRS’s tax code, could be changed from time to time. We just have to keep up with their changes.
Our property manager also insists on sending us a paper check by snail mail! He also refuses to “upgrade his brain” – I think he is about my age. This could be the reason!
@mcat2 that is the most ridiculous thing Ive ever heard, that Chase wont accept deposits if you are not on the account. There are plenty of instances where you may need to deposit money for someone who who banks at a different bank.
Regarding your other point, banks need to realize that not everyone does everything electronically. My parents for instance have never used an ATM, or online billpay. I on the other hand, have to tear up the house looking for my checkbook because I hardly ever use them. I try to pay everything via online billpay.
We do everything the old fashioned way because DH is not tech savvy at all and doesn’t trust online banking security. Sigh.
Anyway, I deposit checks or cash all the time to my kids’ accounts. Have never had to show ID. They don’t bank at Chase, though.
Interesting. D banks at Wells Fargo, I do not. I deposit money to her account monthly, but never have had to show ID. But I’m not taking money out, only putting money in.
I agree that makes zero sense at all. We deposit into Ds’ accounts every month and are not joint account holders.
Are you saying you didn’t KNOW your account was a business account? Seriously?
And if you check online (which any person working in IT should understand is a very safe way to bank), you would see notices.
Also, these same notices come in the mail to you if you get your bank stuff by paper snail mail copy. It’s YOUR responsibility to keep up on changes the bank informs you are taking place.
I’m with everyone else. I see no problem with showing a picture ID…whenever asked. I always have one with me. It’s not big deal.
Apparently chase instituted a policy about not depositing into someone else’s account after their debacle with madoff
Doesn’t anyone else use the mobile banking apps? I can deposit checks just by taking a picture of them from my phone. I do not remember the last time I walked into an actual bank for that purpose.
If your child has an account at the same bank, you can easily transfer funds into their account right from your phone. Not quite sure if you can do the same if their account is at another bank.
How often is it a true emergency where the money is needed ASAP? The times I’ve transferred, it’s been something where a few days’ wait makes no difference; it’s just money one of us owes the other for whatever reason.
In a true time-based emergency, I’d use my credit card to pay whatever on my kid’s behalf and then we’d sort it out afterwards. What kinds of emergencies are happening that the kid needs money ASAP?
My wife told me this: At a larger bank, they got rid of all the tellers except one. In front of the counters, they installed some giant sized machines and urged customers to use them (just like the ticket counters at the airport these days, except that there is only one person who is behind the counter.)
When the assistant asked my wife to use the machine, she told her: I do not want to learn to use the machine.
It seems there are plenty of people who are like her in that bank, because it seems few people try to use the machine and the waiting line for the live teller is always long.
In the future, I will not be surprised that the bank may get rid of that single teller too.
More likely they will consider beginning to charge to talk to a teller. I think some have tried that already.
http://www.mybanktracker.com/news/chase-no-cash-deposits This is supposed to be helpful to be able to deposit cash into someone else’s account. Some of the suggestions are pretty – DUH.
And yup-- some banks are charging to talk to a human http://www.mybanktracker.com/news/bank-teller-fees-how-much-it-costs-talk-to-live-person
Your agreement with the bank is that YOU can use the account, not your parents, your spouse, your children, your bookie. They don’t have to let others make deposits to your account, don’t have to accept payments on your credit card or mortgage from others. Do they? Sure, but they don’t have to. They don’t take checks not made out to the account holder because if the check is refused, if it much harder to collect from a third person.
They have to do more than ask for your ID for a cash deposit over $10,000, the bank has to file a form with the government with the amount and who made the deposit. The ID information, of course, is used to complete the form.
Well, you can’t refuse to learn how to use an ATM and then complain about the inconvenience of waiting in line for a teller or having to show ID. If you choose not to take advantage of modern conveniences, don’t whine that it’s inconvenient.
They want to trace drug money and money laundering. Especially in the states that allow sale of marijuana, as they are not supposed to be able to use credit cards because the feds don’t recognize the legal sale of pot. But…http://www.hightimes.com/read/using-credit-cards-buy-weed
At Bank of America, one must maintain a certain balance in their accounts to use the tellers at the counter at no charge. It’s been that way for a while. Our kids maintain that minimum balance just for ME…so,that I can go,to,the teller and deposit on their behalf.
Like PG, if it’s a real emergency, I use my credit card, and pay the bill…and yes, I’ve done that.
Check out Venmo. I have friends who rave about it.
Another thing you can do is get your kid money via PayPal.
Lots of options.
Chase only makes you show an ID to make a cash deposit. You can deposit into an account without your name on it if you make the deposit by check and not cash.