Someone needs to make a cash deposit into my account, BoA , NFCU or ?

[trusty]

By the way, they can always place the cash into an overnight envelope, purchase the insurance, and send it. Insurance goes up to 5k.

https://www.usps.com/ship/insurance-extra-services.htm

[ToughFistFight]

Check this out, it wasent to the bank.  Its to a business that has a business account at Chase.  Once a month I walk into Chase with a wad of cash, I fill out the deposit slip, hand it to the teller, she asked me the name of the business I am depositing the money to, I say the biz name and she gives me a receipt.  And its a similar amount to what this person was trying to deposit. Not sure why some people can and can not do this.  

I have since opened a biz account at Chase in the last month.  No more walking around with cash. 

[Anonymous]

Thanks all

I wasn’t aware of Walmart Money Transfer. That should work.

[Anonymous]

I'd be willing to bet $5 that this practice hasn't done anything to prevent Money Laundering etc. These types of security measuers only affect the average person who's just trying to make his way in the Galaxy.

[DaveInAZ]

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@ToughFistFight wrote:

Check this out, it wasent to the bank.  Its to a business that has a business account at Chase.  Once a month I walk into Chase with a wad of cash, I fill out the deposit slip, hand it to the teller, she asked me the name of the business I am depositing the money to, I say the biz name and she gives me a receipt.  And its a similar amount to what this person was trying to deposit. Not sure why some people can and can not do this.  

I have since opened a biz account at Chase in the last month.  No more walking around with cash. 

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I don't know about that. I work for the local county government and they recently changed things that I make my own cash deposits at a local bank, Washington Federal. The county gave me a book of printed deposits slips but the first time I made a deposit I had to give them my drivers license which that scanned into the computer and I had to give them my full social security #, I asked if last 4 digits was OK, no they wanted the full number. Now when I deposit I usually have the same teller and I just say my name and she always checks that I'm still in the computer as an authorized depositor. But last week I got  a new teller and when I gave her my name she checked and then as a check said "Oh, you recently had a birthday?" I confirmed that yes, it's Christmas Eve.

As for Chase I recently had a county customer complain about Chase, her mother was going to loan her some money so she gave her Chase account #, Chase would not accept the deposit. And to deposit cash into my local credit union I usually go to a closer, different credit union use their CU Co-op shared branch network, which requires I provide my drivers license and tell them the last 4 of my SS#. But last month the network was down so I drove to my CU's nearest branch, but as I didn't have my checkbook with me I gave them an index card with my member # that I use at shared branch deposits. They required my DL to ensure it was me making the deposit.

So it seems to me all banks now are requiring that only the account holder can deposit into an account, at least for cash.

[Revelate]

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@Anonymous wrote:

I'd be willing to bet $5 that this practice hasn't done anything to prevent Money Laundering etc. These types of security measuers only affect the average person who's just trying to make his way in the Galaxy.

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Which is why every single major bank that has implemented this policy has stated as such?

They'd take the cash if they could prevent the potential abuses some other way.   Contrary to some opinions, banks are not stupid: mo' deposits, mo' bettah.  Period.

[longtimelurker]

Very niche, but if you are a potential target of such things, such as a senior politition or working in classified areas, you may not want anonymous cash deposits in your account.   Yes, the FSB could deposit a check signed by Mr V Putin, but security services would assume that they wouldn't be so stupid, whereas regular cash deposits are harder to explain.

(Note: this assumes you are an innocent target of a smear.  If you really wish to take money from foreign intelligence services, there are much better ways!)

[Anonymous]

I deposit cash into my dear old mums BOA account all the time and I'm not on the acct. Nor do I look 92! She sends me deposit slips and I go through the drive thru. Never had an issue.

[DaveInAZ]

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@Anonymous wrote:

I deposit cash into my dear old mums BOA account all the time and I'm not on the acct. Nor do I look 92! She sends me deposit slips and I go through the drive thru. Never had an issue.

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Well, printed deposit slips probably makes a difference, and are you female? A printed deposit slip with a woman's name and a woman in the driver's seat would make most tellers not question anything.

And how nice of you to deposit money into your mother's account! I'd be happy to deposit funds for my dear old mum, but she passed away a number of years ago.

[creditfan]

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@trusty wrote:

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@Anonymous wrote:

I am not sure where to post this, but this is probably the best place.

I have loaned (given) a friend in need in another state $5K.

They have the cash to pay me back.

For whatever reason, they are not able to write me a check.

They tried to deposit it in my BoA account and BoA would not accept the $5000 deposit.

BoA said they only accept cash deposits from account holders into said account holders account

They went to a different branch to see if they could make a smaller deposit into my account and that BoA branch would not accept cash either.

There is an NFCU branch near them.  Does anyone know if NFCU will take some or all of it?

The next step will be 5 $1000 money orders or I send them a serve card and let them put $500 on it at a time I guess.  Any other easy ways to make this happen?

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Stupid banks. Just take the fricken money already. This is banks throwing a tantrum, and the mere spectre of not making any money off of a transaction. They cannot very well charge someone to deposit cash, especially since they don't have an account to charge... so they just refuse; probably based on some mumbo jumbo money laundering clause. They sure aren't going to be doing any paperwork for a non-account holder either, so they just refuse.

I remember a while back when a family member had deposited cash into a US Bank account in one state, and still got dinged for an overdraft in another state... because the literal "cash" deposit didn't go through the same day, like it should have.

All banks do is play games with people that cannot afford to play them. We need a new banking system, where banks work for the interests of the people.

shareholder is also people from the bank point of view

that's why credit unoins are here for