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Banking oops!

Any people on here getting slammed by this? My neighbor works for a bank and has been pulling all-nighters over the last few days trying to resolve all the customer issues:


Makes me wonder: if one little screw up like this can cause so much chaos, imagine what some good cyber hackers could do?
i saw that. folks are going to be demanding paper checks if that keeps up. ach seems like one of those wizard of oz curtain things. we use ach wires all the time and it's super unpredictable as to when funds go through
 
with a percentage back to THE BIG GUY
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i saw that. folks are going to be demanding paper checks if that keeps up. ach seems like one of those wizard of oz curtain things. we use ach wires all the time and it's super unpredictable as to when funds go through

The company I work for still uses paper checks.

I like to think the small companies who won't move into the 21st century are what keep tellers employed.
 
The company I work for still uses paper checks.

I like to think the small companies who won't move into the 21st century are what keep tellers employed.
You are probably right even though it is becoming harder and harder to sell the idea of how many tellers are needed. Computer efficiencies and AI will continue to kill the entry level jobs like being a teller. I work for a bank and it is discussed regularly (especially now during this economic environment) how can we cut FTE and still be efficient and have high customer service scores. I can tell you the “keep the people” argument is loosing ground.
 
The company I work for still uses paper checks.

I like to think the small companies who won't move into the 21st century are what keep tellers employed.

That's just laziness and bad business. Checks, in general, are antiquated, but checks to pay employees, suppliers, etc.? Yeesh.
 
You are probably right even though it is becoming harder and harder to sell the idea of how many tellers are needed. Computer efficiencies and AI will continue to kill the entry level jobs like being a teller. I work for a bank and it is discussed regularly (especially now during this economic environment) how can we cut FTE and still be efficient and have high customer service scores. I can tell you the “keep the people” argument is loosing ground.

Once my banks app went into effect, my wife and I stopped going to the bank. My daughter has only been there to set up the account. That was almost two years ago (she has been working since the account started).

If I didn't have to deposit my check, there wouldn't be a reason to go unless something catastrophic happened.
 
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The company I work for still uses paper checks.

I like to think the small companies who won't move into the 21st century are what keep tellers employed.
I still choose to get my expense checks the old fashioned way. No real reason for it, other than I like keeping that one process more personal. Everything else is all autopay, direct deposit, paperless, etc...
 
Once my banks app went into effect, my wife and I stopped going to the bank. My daughter has only been there to set up the account. That was almost two years ago (she has been working since the account started).

If I didn't have to deposit my check, there wouldn't be a reason to go unless something catastrophic happened.
Most places you can deposit via their app even though some do limit the amount for some reason.

On a side note: It's amazing how strict banks have gotten about things. My nephew (who is disabled) sold his truck ($3700) and I went to Chase to deposit the money in his account and they wouldn't let me (money trail I guess). I happen to have an account at Chase so they let me deposit it in my account and then they transferred it to my nephew's account.
 
That's just laziness and bad business. Checks, in general, are antiquated, but checks to pay employees, suppliers, etc.? Yeesh.
I went to a local PNC bank to deposit a check from people who are renting our condo and just wanted to deposit it. I didn't know the account number, or I would have went to the drive-up window.

Anyway, I walk in and there are 4 people looking at me when I walked in. No window where you can do business - just offices for these people. I tell them I need to deposit and check and one guy gets on his PC and finds me account and then goes in the back, where he prints a receipt.

Very weird. All these people's offices said "Personal Banker". WTF?
 
I went to a local PNC bank to deposit a check from people who are renting our condo and just wanted to deposit it. I didn't know the account number, or I would have went to the drive-up window.

Anyway, I walk in and there are 4 people looking at me when I walked in. No window where you can do business - just offices for these people. I tell them I need to deposit and check and one guy gets on his PC and finds me account and then goes in the back, where he prints a receipt.

Very weird. All these people's offices said "Personal Banker". WTF?
I never go to the bank... everything online.
 
I hate direct deposit….makes it more difficult to pay the bookie. He doesn’t have Venmo
Don't give me that .... you just don't want your spouse to know how much you earn. :) :)

Seriously, I loved it when I was working but there were people where I worked that hated it because their wife didn't know what they made. I'm sure direct deposit led to some major arguments.
 
Don't give me that .... you just don't want your spouse to know how much you earn. :) :)

Seriously, I loved it when I was working but there were people where I worked that hated it because their wife didn't know what they made. I'm sure direct deposit led to some major arguments.
I don’t care about her knowing how much I make….I just don’t want to explain the withdrawals.
 
If you became a great gambler like me, you'd be worried about the deposits. :)

Sweated out IU on the ML last night, but made my money. Boston and Denver at home against middling to bad NBA teams is the way to go.
I was 0-3 Monday night and 2-0 last night…pay the man
 
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I never go to the bank... everything online.
I usually do, too, but I had this check and didn't know the online account my wife had set up for this bank, which we use for rental stuff.
 
Don't give me that .... you just don't want your spouse to know how much you earn. :) :)

Seriously, I loved it when I was working but there were people where I worked that hated it because their wife didn't know what they made. I'm sure direct deposit led to some major arguments.
Only a ****ing rookie wouldn’t have a separate account you funnel 15% into. 85% to the wife family.

Post tax of course.
 
We don't know all the details but like I said in my previous post Chase wouldn't accept a cash deposit into my nephew's account but did take it when I put it into my account and then they transferred it to my nephew's account. They wanted to see my ID to put it in my account. It's all about the money trail I'm sure. They must not have a way to track it if I put it into my nephew's account.

We gave our daughter $50,000 to help buy their first house and Chase wanted to know where the money came from and wanted some documentation,
 

We don't know all the details but like I said in my previous post Chase wouldn't accept a cash deposit into my nephew's account but did take it when I put it into my account and then they transferred it to my nephew's account. They wanted to see my ID to put it in my account. It's all about the money trail I'm sure. They must not have a way to track it if I put it into my nephew's account.

We gave our daughter $50,000 to help buy their first house and Chase wanted to know where the money came from and wanted some documentation,

It's likely an AML compliance issue, not a bank-specific issue. Chase tends ot be ultra-conservative as it relates to compliance issues, but the amount of government regulation and oversight has grown exponentially in the past decade or so.
 
It's likely an AML compliance issue, not a bank-specific issue. Chase tends ot be ultra-conservative as it relates to compliance issues, but the amount of government regulation and oversight has grown exponentially in the past decade or so.
That is what I meant about it be the money trail. Since I deposited my nephew's money in my account and they transferred it to him they have the trail.
 
That is what I meant about it be the money trail. Since I deposited my nephew's money in my account and they transferred it to him they have the trail.
Expect a visit from one of Biden's new IRS enforcers. Sleep lightly and don't make a move for your bedside pistol or shotgun.
 
Most places you can deposit via their app even though some do limit the amount for some reason.

On a side note: It's amazing how strict banks have gotten about things. My nephew (who is disabled) sold his truck ($3700) and I went to Chase to deposit the money in his account and they wouldn't let me (money trail I guess). I happen to have an account at Chase so they let me deposit it in my account and then they transferred it to my nephew's account.
The reason for deposit limits is the risk. Banks can put holds on checks if they so desire and would rather see the larger checks come in the banking center to determine if a hold is needed.
 
We don't know all the details but like I said in my previous post Chase wouldn't accept a cash deposit into my nephew's account but did take it when I put it into my account and then they transferred it to my nephew's account. They wanted to see my ID to put it in my account. It's all about the money trail I'm sure. They must not have a way to track it if I put it into my nephew's account.

We gave our daughter $50,000 to help buy their first house and Chase wanted to know where the money came from and wanted some documentation,
Chase doesn't really care about the individual, they run their system very robotic and very rarely deviate from the standard (basically they are all black and white no gray). Curious was Chase financing your daughters home? If so they would have had to have documentation on the money if she had not had it for a specific amount of time. One thing I can tell you from working in the banking industry for over 26 years is the government heavily regulates the industry and has its hand in it all.
 
Best thing I ever did was develop a relationship with my credit union 25+ years ago.

Direct deposit ruined that for me. I insisted on a paper check until the job gave me no other choice. Used to be I'd go into the bank every Saturday morning and do my banking and flirt with the tellers and talk shit with the branch manager. That face to face first name relationship made things a lot easier when I was playing musical money from my mom's various accounts and didn't need to put up with a bunch of rigmarole.
 
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