I recently opened a chase checking/savings account for a $500 bonus. I had to deposit $15k into the savings within 10 days. If I did it online it would take two business days to arrive, which would have been fine, but I decided to just deposit the money in person "to be sure". 6 days had already passed and I was a bit nervous. I go to my local bank and get a cashiers check, which I had always been told was as good as cash. I handed over nearly 100k in a cashiers check for my house and I got a key for my troubles the same day. Well I went to chase and they took my check but placed a 10 day hold on it. Wtf. I could have just handed them a personal check and saved the trip to bank one.The bank was actually fairly busy- people of all ages. Aside from this I don't think I have been inside a bank for at least a year, maybe longer. And that was only to report a theft of my debit card. I don't ever plan on getting a cashiers check again. I get cash from my ATM or do an online transfer. Money orders can be done in the post office. Accounts can be opened and closed online. I get my checks from a third party supplier for cheap.So is there any real reason to go inside the bank? Although as I mentioned before, many people still do based on the level of activity in this bank.
So is there any real reason to go inside the bank? Although as I mentioned before, many people still do based on the level of activity in this bank. There are a few:1.) The ATM didn't like a check, and it had to be deposited by a real person. 2.) Website issues with a debit card. Transfer needed to be done by a cashier. 3.) Account changes. Try changing the trustee on an account. Even with a notarized resignation of trust, the trust documents and a POA. My head is still spinning.
I have a bunch of change and can't deposit that through an ATM. ($60 some dollars the last time and probably $20 or so right now.)
So is there any real reason to go inside the bank? Although as I mentioned before, many people still do based on the level of activity in this bank. There are a few:1.) The ATM didn't like a check, and it had to be deposited by a real person. 2.) Website issues with a debit card. Transfer needed to be done by a cashier. 3.) Account changes. 4.) Add items to or remove items from a safe deposit box.5.) Get a signature guarantee (like notarization, but more hassle.)6.) Depositing cash.I'm sure there must be others, but #4 and #5 are the only reasons I've been inside a physical bank since I got the ability to deposit checks via smart phone app. I could see needing #6 at some point in the future; Sam's Club gives me the cash back from their MasterCard in folding green, and I'm not using much folding green to pay for things these days. If the reward gets bigger than the amount of cash I'll spend in a year, I'll need to deposit cash somewhere or forego credit card cash back to spend it down on goods and services.Patzer
So is there any real reason to go inside the bank?DH is self-employed as a General Contractor, but during the winter, he does snow plowing. He has almost 40 clients, and they pay him by check. I find it easier to take a pile of checks to the bank to make the deposit. I also get cash in the denomination that I need, and in the summer, that is a lot of ones so that we can tip the guys at the golf club (the bag guys, the valets, etc.). I don't even have an ATM or a debit card because when I want cash, I want it in specific denominations, and I can only get 10's and 20's out of the machine, so I don't even bother.Other things I have done at the bank in person include depositing coins as has been mentioned and getting a signature guarantee so that I can move stocks or brokerage accounts as those typically require a signature guarantee.I probably go to the bank every other week during the winter, and much less during the summer.
6.) Depositing cash. Some ATMs accept cash and the receipt has a photo of the cash. I am also not using much cash these days. The cheaper gas station doesn't take credit cards and occasional small purchases.
and I can only get 10's and 20's out of the machine, so I don't even bother. My bank ATMs give 20s and 50s.
I go in to a physical location to make deposits once in a while.My bank has special savings accounts for kids. They get a $1 cash bonus for every deposit of at least $10. So every couple of weeks I take them in on a Saturday so they can each make a $10 deposit. Easy 10% return on investment!xtn
Then there's the notary public, which I have needed a couple of times recently. And there is the broader issue of "something went wrong and I need a human." That applies to many things that I could and often do take care of electronically. I've learned, though, that for some things, it's worth the time and money to invest in having a human being working with you on an issue. That's also what led me to start spending time and money in my brick-and-mortar book store, and what led me to stop using urgent care clinics and get a real doctor with whom I could develop a long-term relationship. I also have those relationships with attorneys. Because those are areas where if something goes wrong, it can be expensive and dangerous not to have a net of people who are already familiar with the issues.ThyPeace, DH learns everyone's names. He even knows the names of all our checkers at our customary grocery store. I'm finding that to be surprisingly beneficial.
We go into our local bank at least weekly. We are lucky that we live in a small town and everything is close. The bank we use is five blocks from the house.I don't have an ATM card due to identity theft concerns, so that increases the number of bank visits somewhat when I need to withdraw cash I have to go through the drive-through or into the lobby. We operate a business that takes in a fair amount of cash, so we go in for deposits, as well as getting change for the cash box (coins and folding money).I've sold jewelry to one of the tellers a few times. We also use our safety deposit box at least a few times a year (car titles, birth certificates, and whatnot).MrBig loves to go into the bank and visit with the employees while he is taking care of business. When our oldest cat, Scamper, was a kitten, she went with him to the bank and met all the tellers both in the lobby and the drive thru (sent her through the drawer, not the tube). This also happened at the post office with the employees that work the counter.On Fridays the bank has free doughnuts or pastries, so he likes to go in and get our "interest", since this bank pays the going rate on bank deposits.Our town had the big local festival take place a few weekends ago, and the bank was closed on Friday, I guess so bank employees could enjoy the festival (although the festival technically didn't start until noon on Friday). That actually struck me as being insane and really inconvenient, as the only option for someone to go get cash was the ATM (the festival was located right across the street from the bank).Sass
Well, I lost my credit card.The first time I called the bank to report that, I got an announcement saying that the call volume was so heavy to call later.When I called at 2 AM, I was on hold for about five minutes before giving up and hanging up.Instead, I scrawled a notice that the credit card was lost across a bill and put that IN THE MAIL today.I'm not interested in waiting around until they deign to answer my call.Citibank.Seattle Pioneer
Can't you report it missing on their web site?
<<Can't you report it missing on their web site? >> Yes, but I'm not interested in going through the bother. And not interested in a lengthy wait on the phone, either.So a short note and throw it in the mail. That works for me.Seattle Pioneer
...Well I went to chase and they took my check but placed a 10 day hold on it. Wtf. I could have just handed them a personal check and saved the trip to bank one.... - neveragain | Date: 6/27/2016 4:41:49 PM | Number: 310632 Chase, formerly known as Chase Manhattan Bank is EVIL. In April 1972 I had a check drawn on a Chase Manhattan Wall Street branch. A "local" Chase bank would not cash the check even though I had a US Passport for identification. From that point, April 1972 I vowed to NEVER-EVER do business with that bank.WHOVPLLC
BS that was 44 years ago and no one would remember that minutia
The artist formerly known as Kahuna can nurse a grudge like few others...An overly zealous bank teller, and the whole company is written off. A casual acquaintance tries to network with him (which he takes as a personal slight) on Linkedin, and the whole network is worthless.
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