The grocery store just started making people show an ID to pay with a credit card for any transaction greater than $50.
Bank of America also requires an ID for cash deposits only.
So does my own bank. But I don’t remember the last time I deposited cash to my account,
When we deposit a check (at a bank where we don’t have an account) into Ds’ accounts (the account holder), they tell us the funds won’t be available until my check clears. Which is fine. We consider that in how we time the deposits.
@thumper1 Actually BofA requires ID for check depositing (without cash back) to an account that you don’t own too. The remote guy asked me to place my ID card on the pad in the ATM booth so that he could see. That was about a 3 weeks ago.
I’ve never been asked for an ID when depositing a check to either of my kids’ accounts at Bank of A. But cash…yes.
Even so…I don’t care. It’s pretty easy to show a photo ID! I’m not sure I think this is an “issue”…well…it’s not for me!
And FYI…we live in a small town. These folks know me! Still I don’t mind showing my ID.
Anyone remember the days of the old paper visa/MasterCard payment forms? They used to ask for,a driver’s license here…and would write the number down on the form. The licenses name needed to match the credit card. That practiced stopped a long while ago…but you know…I wouldn’t mind showing my photo ID ever when using my credit card! Or when making a bank deposit.
^ I don’t mind either. They are protecting us. With all kinds of bad schemes in the world now, we need to be cautious.
Chase did me a great favor 3 months ago: they notified me and replaced my card right away when someone illegally used my credit card.
Yes, CC companies are calling about suspicious transactions and reissuing CCs. I’m happy they do. I’ve not had any problems with showing my DL for ID at bank, but am puzzled by varying policies.
@Pizzagirl I have not seen change counting machines at the banks. I’ve seen stuff like that at the grocery store, but they take 10% or so for the service. We had a terrible time in the PTA when we had kids collect pennies for books. We had filled a 5 gallon container with pennies and getting a bank to redeem them was like pulling teeth. Even the bank the PTA used didn’t want to do it. Not even ones we rolled up. I haven’t looked in years, it was easier just to get a local bank account.
A little off topic…@mathmom, we also did a penny collection to raise money. We went to a local bank…and they took our pennies at no cost…it was part of their donation to the fund raising. They also donated a a couple thousand dollars!
“Chase did me a great favor 3 months ago: they notified me and replaced my card right away when someone illegally used my credit card.”
That’s standard practice. I bet I’ve had cc hacked half a dozen times.
We have a change counting machine at my CU, but it is for members only. You have to insert your debit card or account number, and then the machine gives you a receipt and you take it to a teller to have the $$ put in your account. If you want the cash, it will actually show as a deposit and withdrawal.
You can use the coin counter (Coinstar) at the grocery store, and if you pick a gift card option, you aren’t charged the 10%. I can usually find a gift card that I can use quickly like Starbucks or Chili’s, or if I have a lot of change I’ll take a Southwest card.
Most banks do not provide services for non-customers. I lived ‘away’ from my CU for 4 years. Once I located the ATMs that would take deposits, it really wasn’t a problem as I had direct deposit. My kids also figured it out pretty easily. The two things I needed a physical bank for were coins (found Coinstar) and foreign money when my daughter traveled. I ordered it online, but also could have gone to AAA. I also probably could have asked a co-worker to get Euros for me from one of their local banks.
TD has change counting machines , but they charge non customers to use them.
We used to bank commercially with PNC…their fees were absurd. They charged for counting cash…really ? Isn’t that within the job description of a teller ?
They also charged non-customers to cash their paychecks, drawn from that account. They were too difficult to deal with , so we bid them farewell
I’ve never used a credit union, so forgive my ignorance - what’s the benefit vs a bank?
Lje62- why should a bank allow non customers to cash paychecks?
This is only my experience so YMMV
CUs = no fees (or easier to avoid fees), banks will charge you every chance they get.
CUs get interest (and better interest) on most accounts because of profit sharing (or whatever it’s called)… banks, not so much.
CUs give you fee-free ATM access to tens of thousands of CU ATMs all over the country. No need to find your specific CU’s ATM. Banks will generally charge if you use an ATM that isn’t theirs.
I just made the decision yesterday to close out my PNC account and transfer that money entirely to my credit union. I hate PNC and have been meaning to do it for a while, I just keep forgetting. I will likely close out my other accounts with our local bank because they’re going to start charging if you keep under X amount in the account… and that’s just a hassle since it’s a decently large amount.
What’s TD?
@Pizzagirl , generally any of the banks we have used for commercial accounts cash the paychecks of employees when they are drawn from that bank. We have used 5 commercial banks in our area and only PNC charged a fee to employees to cash their checks.
We have a credit union account…and a bank account.
My credit union charges me for every single ATM transaction. I never use that ATM card to get cash at an ATM. So while many have huge ATM networks…and they do…they all don’t have that feature. But not other charges are made for anything. I’m not sure where the brick and motor credit union even is. I never go there.
My credit union has more favorable rates on things like car loans, and personal loans.its also very easy to get those loans as a member.
My bank is a regionally local one. We have no service charges, including at ATMs anywhere…but that is because we maintain a certain balance in our accounts, and have direct deposit into the accounts as well. Since it’s a smaller, regional bank, the customer service is very good. When I need something inside a bank…that’s where I go.
My kids have B of A accounts that were started when they were college freshmen. I go there monthly to deposit money into their accounts (folks may recall,that our gift to our kids was repayment of their Direct Loans…so I deposit the money so those can be paid). Both of my kids have to have a minimum amount in their savings for me to be able to access a teller in the bank. If that ever goes away, I’ll deal with Venmo or Paypal…or just mail them a check to deposit themselves via arm or smartphone.
@romanigypsyeyes , we were not fans of that bank either…I didn’t realize they operated outside our region. We got an account for our daughter when she checked in to her university for orientation, thinking that her one card was linked to it and it could be used at the convenience store , book store and laundry , but it really didn’t work well at all…glad we didn’t shut down her other account
@lje62 I’ve had a bank account there since I was a young kid. It’s the bank my mom used to work for (well, the most recent rendition of it. Before that it was Nat City, before that it was First of America, and so on…). When they switched to PNC from Nat City it went to hell. My mom left the bank and the only reason we kept accounts there was because all of ours were linked together and it seemed easiest. Then Mr R and I both had PNC accounts so it was easy to transfer money back and forth.
I don’t really see a need to have bank accounts anymore when I can just use the CU. It used to be that I kept PNC because of the access to ATMs but I don’t use those anymore.