@Anonymous wrote:I started cold-apping US Bank yesterday, and was amazed at how lenghty the app was, first of all.Second, they had multiple questions about how much cash personal checks, and other instruments come in and out of my accounts each month (don't remember the exact language used, but the point is valid) AND a question about the amount of international money orders, checks and electronic transfers monthly. I've never seen t his particular questions and was surprised at the detail US Bank wanted.
The length of the app turned me off to the point that I abandoned it. I felt like I was applying for a home loan.
I just apped for that very card (I was sent an email offer)... Anyway, There was only that one question about how much cash, personal checks, etc... and then there was a drop down box for a 'range'... i.e. $500-5000... The next question was about how many 'international wire transfers or international ACH' are performed each month... answer was 0. Very simple... The app was pretty basic after that... I guess like the other poster stated, maybe they just want to make sure there isn't any funny business going on... If you don't do international money transfers, you wouldn't have anything to worry about... Hope this helps.
My results: Approved $7k.
@Anonymous wrote:
@DaveInAZ wrote:
@Anonymous wrote:I assume that is is a money laundering issue. If you were planning on doing ML, would you fess-up to it on a credit app? If anything it might encourage you to use a different credit card to do so, given that US Bank is watching for that particular activity.
I don't think it's any money laundering issue, how in the heck can you launder money by buying things with a credit card? Only by using laundered money to pay it, and that's a bank account issue, not a credit card issue. And on any other CC app the only questions I've encounted is how much $$$ I make and identity verification. I just think U^S Bank is anal on security. I recently opened a US Bank account for the current very easy $200 new account bonus and went through all those questions when I opened the checking account. And opening the account took several attempts as after going through all those questions & hitting "submit" I kept getting timed out errors and had to start all over again. The timed out error claimed 15 minutes was the limit, but even with all those questions I know iI didn't take more than 5 minutes.
When I do a new account bank bonus I try to stick around for awhile, probably for my own conscience that I'm not a dine & dasher, but the only way to avoid monthly fees is to park a ton of cash or have a US Bank CC, so I started a CC app and when I saw all those questions again & remembered the time out issues I said "Nope, not gonna do it". I don't like their online banking site, constantly asks me security challenge questions even though I always access the site from my home PC with same IP & MAC address. So I'm not sticking around with them.
The OP was talking abount opening a bank account? Not a credit card so the questions may have been different. Likely such questions wouldn't appear for a credit card? Truth seems we got a couple application processes wrapped into this post. As to trying to open a bank account with US Bank on line they failed me and I went into a US Bank and raised the roof. Took the branch five minutes to process an app with all is well. What is the deal with their online apps is beyond me and it was frustrating (did not get any questions they ran some background while I was online and then failed me). The branch said forget it we will do it for you and simple and smooth. What the ____!
No, you're wrong. It was a CC app. (NOT a checking account). Go back and re-read the whole thread. The OP actually makes a reply at some point... If it wasn't a CC they would have said so. Cold App means applying for a credit card with no 'prequalification or prescreen offers'. Those questions WERE on the credit card application because I applied for the same card. How do you get to come into the thread and just dismiss what everyone else has said?? Without READING the THREAD???