This must be new eh.... anyways made deposit <$1000..teller awkwardly asks for my ID since I don't have an account with them.. what is this info used for?
Deposit at Bank of America... Teller awkwardly asked for my ID?
This must be new eh.... anyways made deposit <$1000..teller awkwardly asks for my ID since I don't have an account with them.. what is this info used for?
[3 Points] tismond:
[1 Points] freshlysquosed:
More detailed records for the IRS/LE, probably.
[1 Points] turny122:
Chase does it as well. There are still some banks that don't require it, usually the less popular ones.
I wonder if this will spread to all banks in the near future
[1 Points] gwernisthenewpine:
I fucking hate the US banking system. I went to swap those pesky stacks of nearly ubiquitous drug-dealin' twenties in for some fresh hundies (just a few grand), and the bitchass teller asked me for my ID. Like, what the fuck.............. How many things does the IRS really need to be privy to, y'know?
This is a new policy that went into effect Nov 1 at Bank of America, if I recall correctly. After a bit of questioning, I found out that it's only for personal accounts. Does not apply to business accounts according to the teller I talked to.
Also, be sure to give them feedback that you find their new policy to be intrusive and ask that your feedback be run up the chain. They apparently have had a bit of backlash about this.