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I'm not clueless and I'm sure I have much more experience than you. It's obvious. Honestly don't care. I also didn't say that the source of funds is not important; however, while depositing a check that was clearly from a title company there was no need to get the police involved in the first place. All the manager had to do was pick up a phone and verify the check. At any rate, this thread is not titled "I know more about banking regulations than you", it's about a family who was clearly racially profiled by a bank and a police officer.
Ive learned over the years that some people are hell bent on sounding right or "winning" in these casual exchanges on cd. It's either you state your opinion and move on, or waste a lot of valuable time talking to a brick wall.
Let it go. Unless you don't mind the empty banter then carry on
Good thing is that all these stupid actions by the institutions result in decent settlement. I hope he finds some good conservative lawyer in Kansas who can can assist the Iraqi in getting his pay day doubled or so. Not bad lift I would say....
I agree.
Quote:
Originally Posted by Ruth4Truth
The bank was also unrepentant. In the 2nd linked article, it said everything was according to its procedures, and if a similar situation were to arise, the bank would follow the same procedures.
Also agree.
Quote:
Originally Posted by AksarbeN
The only thing that could have made this banking deposit story worse would have been if the police shot and killed someone while at the bank. All the poor guy wanted to do was deposit a check to an account. Seems the bank overacted as well the police department in Wichita KS.
They absolutely overreacted and I hope the actual people (bank officials and police officers) involved get reprimanded but we all know they wouldn't.
The only thing that could have made this banking deposit story worse would have been if the police shot and killed someone while at the bank. All the poor guy wanted to do was deposit a check to an account. Seems the bank overacted as well the police department in Wichita KS.
He said he used to live in Wichita, and back then, there was never any problem! This is not the Wichita he knew and was fond of, he implied. What happened to the old Wichita?
I wonder what anyone is supposed to do, who receives a check for selling a big-ticket item, like a home or condo? Are we not allowed to do that? Will everyone get handcuffed, interrogated, and investigated, who has a large deposit to make, or is it only the people with middle-eastern names? He said he brought in all the relevant documents, to prove where the money came from, the home sale docs, and everything, but the bank people and police didn't care. What more can anyone do?
It reminds me of the Black Harvard professor who got arrested and jailed for getting locked out of his own house, and trying to climb in a window. One of his own long-time neighbors called the police!
This incident would not have happened in any branch of big banks like Wells Fargo, Bank of America, Chase. Small community banks and their employees are more nervous or say not trained enough for Foreigner looking customers.
But that's not what happens in practice. A check written on toilet paper would not be accepted for deposit. As a challenge, I'd like to see you do it. Post back with your experience.
It appears - from social media who are more familiar with banking at that bank than I am - he didn't have an account, but was trying to open an account with that check, that couldn't be verified. (Not sure why. signature didn't match? written on a foreign bank and they wouldn't verify authenticity?)
Curious that he still has possession of the check.
IF he was trying to use it to open an account, that's a whole different thing. There is no way to verify a check. Banks will not even do this anymore. That's why there are mandatory holds on large checks. I believe this would have been subject to a 10 day hold.
What most likely happened is the customer wanted to use his money right away, without waiting for the funds to clear, threw a tantrum and got arrested.
IF he was trying to use it to open an account, that's a whole different thing. There is no way to verify a check. Banks will not even do this anymore. That's why there are mandatory holds on large checks. I believe this would have been subject to a 10 day hold.
What most likely happened is the customer wanted to use his money right away, without waiting for the funds to clear, threw a tantrum and got arrested.
Your "most likely happened" is pure fiction. The customer told the bank that he didn't expect to have access to the money right away. He understood there would probably be a hold on funds.
He said he used to live in Wichita, and back then, there was never any problem! This is not the Wichita he knew and was fond of, he implied. What happened to the old Wichita?
I wonder what anyone is supposed to do, who receives a check for selling a big-ticket item, like a home or condo? Are we not allowed to do that? Will everyone get handcuffed, interrogated, and investigated, who has a large deposit to make, or is it only the people with middle-eastern names? He said he brought in all the relevant documents, to prove where the money came from, the home sale docs, and everything, but the bank people and police didn't care. What more can anyone do?
It reminds me of the Black Harvard professor who got arrested and jailed for getting locked out of his own house, and trying to climb in a window. One of his own long-time neighbors called the police!
It would have never occurred to me to bring documents to prove where money came from.
I'm sad he had to think of it and sadder that no one bothered to look at them.
IF he was trying to use it to open an account, that's a whole different thing. There is no way to verify a check. Banks will not even do this anymore. That's why there are mandatory holds on large checks. I believe this would have been subject to a 10 day hold.
What most likely happened is the customer wanted to use his money right away, without waiting for the funds to clear, threw a tantrum and got arrested.
No. You didn't read the linked article. He told the teller he didn't need any cash, and that they could hold the check as long as they needed to, as he wouldn't be needing any of the money anytime soon. He was very clear about that.
If this is what happens to you when you go inside a bank where it’s safe, what would happen to you if you used a remote ATM outside and tried to deposit the check?
The police are to protect and to serve. So it would appear they overstepped and over reacted in a big way.
It would have never occurred to me to bring documents to prove where money came from.
I'm sad he had to think of it and sadder that no one bothered to look at them.
This incident makes me glad that when I sold a home, the real estate agency already had my account info, as they'd also been handling a rental on the property for me. They simply made a direct deposit; no check, no muss, no fuss. Who knew that depositing a major check could get you hauled off by police? I wonder what people who receive an inheritance do?
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