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(CBS Boston)   If your bank gives you $1400 in counterfeit bills, don't bother complaining because they'll just refuse to pass the buck   (boston.cbslocal.com) divider line 123
    More: Asinine, Westborough, Sovereign Bank, United States Secret Service, WBZ-TV, Citizens Bank, refuses  
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13100 clicks; posted to Main » on 30 Jan 2013 at 10:20 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



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2013-01-30 11:01:18 AM

SevenizGud: Dude, you barely clear $40k. You have MUCH bigger problems than this counterfeit bills thing.


Don't you have to be a douchebag in 26 minutes.

Wait, I did that wrong...
 
2013-01-30 11:03:29 AM

Glancing Blow: When I was a teller at Chase we were taught to rub the suspect bill on a piece of paper. If no ink came off it was suspect. The head teller had a 10x loop.

You are allowed to take a tax deduction for confiscated bills.

The Secret Service would have done an immediate inspection of every bill at Sovereign Bank if an accusation was made to them.

Only had one once in a large cash deposit of a local merchant. Since there was no one else in line I leaned over to him and told him why he shouldn't try to deposit the bill. Yes, I know he passed the problem onto someone else - such is life.


The Secret Service does not do an immediate inspection on every bill in a bank EVAR! Yes, I did actually work in a bank and have spotted counterfeit bills. They are submitted to the Secret Service, but the SS does not come to the bank.
 
2013-01-30 11:04:46 AM

Clent: Typically for a fee if you don't have an account with them.


If you present a check to the issuing bank, there's very rarely a fee -- largely because this would seem to constitute grounds for people to refuse to accept a check on accounts there as payment in full, which tends to result in customers moving their accounts.
 
2013-01-30 11:05:00 AM
TFA comments are a riot.
 
2013-01-30 11:08:04 AM
His son, who studies accounting in college, told WBZ-TV his dad has been given "the run around."

Why does that make me L O L so much?
 
2013-01-30 11:08:31 AM

Clent: The way I've gotten around this, is to bring it to the issuing bank; they will cash it immediately. Typically for a fee if you don't have an account with them. I then deposited the cash at my credit union.


Although the treasury department allows banks to charge fees for cashing checks that they issue, in some states, like Oregon, you could demand that your payroll be issued as a check from a different bank, a money order, or cash. That's because Oregon requires that the instrument the payroll comes as must be presentable for cash on demand during weekday business hours.
 
2013-01-30 11:13:38 AM

Galloping Galoshes: gonzoduke: I can't think of a reason you'd cash your check at one bank and go to deposit that same money into another bank. I smell bs

Probably because the check was drawn on the first bank. This way the guy doesn't have to wait for the check to clear to get access to his cash.

I smell someone who's never had a job.


Really? Because I smell somebody who manages his money well and doesn't live from paycheck to paycheck and can therefore stand to wait a day or so for a check to clear without having his home repossessed.
 
2013-01-30 11:18:12 AM

pute kisses like a man: lots of people seem to only have worked in the safety of the large corporation. work in small business and you start to realize you're not paid until you've gotten the money in your account. that check is not much more than an IOU until it's properly negotiated.


Many years ago I managed a micro brewery. We had a cooperative agreement with another local micro to share costs for bulk supplies, deliveries, etc. which was all in preparation for a merger. Each company paid their proportionate share of any such costs, and one day they ended up owing me for a half-hour of work. They cut me a cheque for $8, which promptly bounced. Rather than go after them for the $8 I framed it and kept it on my wall. Whenever the owner of the other company had to come over to discuss business the first thing he saw was the bounced cheque.
 
2013-01-30 11:18:49 AM
Update

"A Sovereign spokesperson told WBZ Tuesday the situation has been resolved and that "the investigation showed that the currency given to Mr. Rivas was in fact legal tender, not counterfeit."

Westboro police also confirmed the settlement saying the Citizens Bank teller made a mistake and that the cash turned out to be older money that they had not seen in a while."

So the Taco Bell Worker is now a bank teller... That's just great!
 
2013-01-30 11:20:00 AM

Brett.M: I worked at a company that was failing and bouncing checks left and right. On payday, you'd get your check and race to Bank of America (Their bank) and cross your fingers that the guy in front of you didn't take the last of the funds out of the Company account.
If you deposited it, chances were it would bounce. They refused to continue DD because the financial situation.


Back in the before time, a friend of mine had a job like that. People would pray they weren't scheduled to work on payday, and they'd loiter around the business, waiting for the paychecks to get handed out. Then it was The Great Race to the issuing bank to cash them.
 
2013-01-30 11:23:20 AM

abb3w: Clent: Typically for a fee if you don't have an account with them.

If you present a check to the issuing bank, there's very rarely a fee -- largely because this would seem to constitute grounds for people to refuse to accept a check on accounts there as payment in full, which tends to result in customers moving their accounts.


Citizens charged me $7 the other day. I took it as yet another Poor Tax.

Galloping Galoshes: The followup says that the bills weren't counterfeit, just old. Small head $100s. The teller at his bank must have been some high-school grad that never saw one before.

Pelvic Splanchnic Ganglion: the cashier is a moron.

This


Maybe there should be a review by the manger before implicating a customer (or anybody) for committing a federal offense.
 
2013-01-30 11:27:51 AM

skankboy: Update

"A Sovereign spokesperson told WBZ Tuesday the situation has been resolved and that "the investigation showed that the currency given to Mr. Rivas was in fact legal tender, not counterfeit."

Westboro police also confirmed the settlement saying the Citizens Bank teller made a mistake and that the cash turned out to be older money that they had not seen in a while."

So the Taco Bell Worker is now a bank teller... That's just great!


How long was he denied his funds, and how much interest was he paid?

Sounds like the way to be safe is to demand denominations no larger that $10, carry one of those pens, and take 5 minutes to inspect each bill and record the serial number while occupying the teller window. And then demand that they sign the list of serial numbers acknowledging that they were the source.
 
2013-01-30 11:51:47 AM

TNel: We all know it is hard to teach an old dog new tricks....


I guess this qualifies as a shock collar, then..
 
2013-01-30 11:53:35 AM

Lets talk frankly about internal cleanliness: SevenizGud: Dude, you barely clear $40k. You have MUCH bigger problems than this counterfeit bills thing.

As someone with a combined household income of less than $40k, what are these "MUCH bigger problems" you speak of?

Bought our home 2 years ago, will be paid off in another 7. 2 cars, no payments. One credit card, low limit. Only pay for internet, no cable-- Netflix and local stations only. Between our chicken coop, garden and the local grocer, we eat well. My kid has 4 acres to play on. We have medical insurance, which we pay for.

I'm 31, wife's 28, kid is 5. It's not like we're super bootstrappy or even tight with money. It's called living within your means, and it isn't that difficult. Hell, I could do all of this 4 times over for what the folks in the subdivision behind me paid for those crapboxes. But I guess they all pity me, with my sub-$40k income.


The fact that you have 4 acres, and abundant farm animals, indicates you either have a secondary income access, or you live in BFE nowhere, where the cost of living is nothing.

Living in DFW or NYC or any 'big' town, 40k annual is vastly below poverty, and means you don't have insurance, retirement, or likely anything but bare bones requirements.
 
2013-01-30 12:01:34 PM

TNel: I see some people don't read the article or comments.

"Hello All, Bryan here, I am the son of Carlos. First of all, the amount of ignorant comments people have been posting is sickening.

The reason he cashes it at Sovereign is because his employer makes his check out to Sovereign bank! That way instead of waiting three days for his check to clear at Citizens (where he has all his mortgage, bill payments, debit card, etc...) he immediately is given the cash.."

.
Nice! So he is an illegal alien and both he and his employer are avoiding paying taxes. This guy can DIAFF for all I care. No sympathy here. And btw, banks scan all of their bills at the main facility, so this guy is a criminal counterfeiter too. Surprise, surprise, surprise.
 
2013-01-30 12:02:44 PM

MycroftHolmes: SevenizGud: Dude, you barely clear $40k. You have MUCH bigger problems than this counterfeit bills thing.

Don't you have to be a douchebag in 26 minutes.

Wait, I did that wrong...


I'm pretty sure you have to call him Jim first. Not sure because I suck at memes. Either way, he's a dick.
 
2013-01-30 12:07:48 PM

david_gaithersburg: TNel: I see some people don't read the article or comments.

"Hello All, Bryan here, I am the son of Carlos. First of all, the amount of ignorant comments people have been posting is sickening.

The reason he cashes it at Sovereign is because his employer makes his check out to Sovereign bank! That way instead of waiting three days for his check to clear at Citizens (where he has all his mortgage, bill payments, debit card, etc...) he immediately is given the cash.."
.
Nice! So he is an illegal alien and both he and his employer are avoiding paying taxes. This guy can DIAFF for all I care. No sympathy here. And btw, banks scan all of their bills at the main facility, so this guy is a criminal counterfeiter too. Surprise, surprise, surprise.


FYI - Its against federal law for a bank to put a hold on in-state payroll checks. I take back about calling the guy a counterfeiter, but him and his employer are still tax cheating scum of the earth.
 
2013-01-30 12:21:45 PM

david_gaithersburg: david_gaithersburg: TNel: I see some people don't read the article or comments.

"Hello All, Bryan here, I am the son of Carlos. First of all, the amount of ignorant comments people have been posting is sickening.

The reason he cashes it at Sovereign is because his employer makes his check out to Sovereign bank! That way instead of waiting three days for his check to clear at Citizens (where he has all his mortgage, bill payments, debit card, etc...) he immediately is given the cash.."
.
Nice! So he is an illegal alien and both he and his employer are avoiding paying taxes. This guy can DIAFF for all I care. No sympathy here. And btw, banks scan all of their bills at the main facility, so this guy is a criminal counterfeiter too. Surprise, surprise, surprise.

FYI - Its against federal law for a bank to put a hold on in-state payroll checks. I take back about calling the guy a counterfeiter, but him and his employer are still tax cheating scum of the earth.


Did you even go and read the rest of the comment? You jump into thinking he's cheating taxes because he's hispanic. HE PAYS TAXES!!!!!! You can see I left .... for a reason unless you wanted me to post the entire message. Bigot.
 
2013-01-30 12:27:21 PM

PsychoDBoy: I got a $10 fake bill as change buying a bottle of vodka one day from my liquor store. Guess who got that bill back for another bottle the next week?


I was at a local convenience store and paying with a $10 bill... he looked at it and said it was fake and he couldn't accept it. The thing is, I go to that store everyday and it's the only place I use cash. I said, "Well, I got it in change from you yesterday!"... He took the money.
 
2013-01-30 12:30:52 PM

TNel: david_gaithersburg: david_gaithersburg: TNel: I see some people don't read the article or comments.

"Hello All, Bryan here, I am the son of Carlos. First of all, the amount of ignorant comments people have been posting is sickening.

The reason he cashes it at Sovereign is because his employer makes his check out to Sovereign bank! That way instead of waiting three days for his check to clear at Citizens (where he has all his mortgage, bill payments, debit card, etc...) he immediately is given the cash.."
.
Nice! So he is an illegal alien and both he and his employer are avoiding paying taxes. This guy can DIAFF for all I care. No sympathy here. And btw, banks scan all of their bills at the main facility, so this guy is a criminal counterfeiter too. Surprise, surprise, surprise.

FYI - Its against federal law for a bank to put a hold on in-state payroll checks. I take back about calling the guy a counterfeiter, but him and his employer are still tax cheating scum of the earth.

Did you even go and read the rest of the comment? You jump into thinking he's cheating taxes because he's hispanic. HE PAYS TAXES!!!!!! You can see I left .... for a reason unless you wanted me to post the entire message. Bigot.


No. He's AND his employer are cheating on taxes by the check being made out to cash. But continue with the name calling if it makes you feel better
 
2013-01-30 12:34:28 PM

david_gaithersburg:
No. He's AND his employer are cheating on taxes by the check being made out to cash. But continue with the name calling if it makes you feel better


Again go and read. You are going to be on the ignore list for willfully not reading and sticking your head into the sand screaming LA LA LA LA LA I can't hear you. Fox news on your favorites list on your TV?
 
2013-01-30 12:34:32 PM

david_gaithersburg: TNel: I see some people don't read the article or comments.

"Hello All, Bryan here, I am the son of Carlos. First of all, the amount of ignorant comments people have been posting is sickening.

The reason he cashes it at Sovereign is because his employer makes his check out to Sovereign bank! That way instead of waiting three days for his check to clear at Citizens (where he has all his mortgage, bill payments, debit card, etc...) he immediately is given the cash.."
.
Nice! So he is an illegal alien and both he and his employer are avoiding paying taxes. This guy can DIAFF for all I care. No sympathy here. And btw, banks scan all of their bills at the main facility, so this guy is a criminal counterfeiter too. Surprise, surprise, surprise.


A bank will NEVER cash a check made out to that bank. That check would have to be voided. A bank will not cash a check made to a corporation.

Also, you seem quite racist.
 
2013-01-30 12:35:34 PM

TNel: david_gaithersburg: david_gaithersburg: TNel: I see some people don't read the article or comments.

"Hello All, Bryan here, I am the son of Carlos. First of all, the amount of ignorant comments people have been posting is sickening.

The reason he cashes it at Sovereign is because his employer makes his check out to Sovereign bank! That way instead of waiting three days for his check to clear at Citizens (where he has all his mortgage, bill payments, debit card, etc...) he immediately is given the cash.."
.
Nice! So he is an illegal alien and both he and his employer are avoiding paying taxes. This guy can DIAFF for all I care. No sympathy here. And btw, banks scan all of their bills at the main facility, so this guy is a criminal counterfeiter too. Surprise, surprise, surprise.

FYI - Its against federal law for a bank to put a hold on in-state payroll checks. I take back about calling the guy a counterfeiter, but him and his employer are still tax cheating scum of the earth.

Did you even go and read the rest of the comment? You jump into thinking he's cheating taxes because he's hispanic. HE PAYS TAXES!!!!!! You can see I left .... for a reason unless you wanted me to post the entire message. Bigot.


.
Also when you automatically determine that a person is innocent, regardless of facts, just because they have a Hispanic sounding name. Yeah, and you're calling me racist?
 
2013-01-30 12:37:30 PM

david_gaithersburg:
.
Also when you automatically determine that a person is innocent, regardless of facts, just because they have a Hispanic sounding name. Yeah, and you're calling me racist?


No it's because I can READ

"For those of you saying he did not pay taxes on the money, I am sickened. Just because my father has an accent does not mean he is an illegal, or working on some illegal scheme. In fact he is a United States Citizen and has been in this country for more than 20 years.

The amount wasn't exactly $1800, that's just the amount the reporters estimated the actual amount was $1889.75

My father has no criminal background. He has never been convicted of anything. He is an honest, hard-working family man who pays his taxes for your kids to go to school!"

Fark off and go beat off to the fox news "reporters".
 
2013-01-30 12:42:02 PM

Lets talk frankly about internal cleanliness: As someone with a combined household income of less than $40k, what are these "MUCH bigger problems" you speak of?


Being filthy-dirty poor.
 
2013-01-30 12:44:22 PM

abb3w: Clent: Typically for a fee if you don't have an account with them.

If you present a check to the issuing bank, there's very rarely a fee -- largely because this would seem to constitute grounds for people to refuse to accept a check on accounts there as payment in full, which tends to result in customers moving their accounts.


PNC, Wachovia, Wells Fargo...
 
2013-01-30 12:46:52 PM

pute kisses like a man: flsprtsgod: And, many older people have this irrational fear of "e-money".... somehow having that "cash" he takes from one bank to another makes him probably feel like he's seen the money, so, it is all "good" then.

You'll see how irrational that fear is the first time your broke employer jerks around your paycheck. Cash is king.

lots of people seem to only have worked in the safety of the large corporation.  work in small business and you start to realize you're not paid until you've gotten the money in your account.  that check is not much more than an IOU until it's properly negotiated.


Actually after college , I've always worked in companies that have under 100 employees, so, certainly not your "large corporations" (but, they all had double digit employees, never worked for some guy with 3 employees or anything like that).    I guess I've just gotten lucky that none of them had any of these issues.... actually really lucky considering the one company I worked for, "GeneralSearch.com", which I found out after the fact was run by this guy.
 
2013-01-30 12:52:35 PM

kroonermanblack: Lets talk frankly about internal cleanliness: SevenizGud: Dude, you barely clear $40k. You have MUCH bigger problems than this counterfeit bills thing.

As someone with a combined household income of less than $40k, what are these "MUCH bigger problems" you speak of?

Bought our home 2 years ago, will be paid off in another 7. 2 cars, no payments. One credit card, low limit. Only pay for internet, no cable-- Netflix and local stations only. Between our chicken coop, garden and the local grocer, we eat well. My kid has 4 acres to play on. We have medical insurance, which we pay for.

I'm 31, wife's 28, kid is 5. It's not like we're super bootstrappy or even tight with money. It's called living within your means, and it isn't that difficult. Hell, I could do all of this 4 times over for what the folks in the subdivision behind me paid for those crapboxes. But I guess they all pity me, with my sub-$40k income.

The fact that you have 4 acres, and abundant farm animals, indicates you either have a secondary income access, or you live in BFE nowhere, where the cost of living is nothing.

Living in DFW or NYC or any 'big' town, 40k annual is vastly below poverty, and means you don't have insurance, retirement, or likely anything but bare bones requirements.


OK, in DFW, it is perfectly possible to have a very decent house in a working class neighborhood for $60K. Call it $550 per month (morgage plus insurance), $200 for utilities, $200 for groceries, $200 for incidentals, you have a monthly burn rate of close to $1,200. 40K would be around $2,500 a month after taxes. So you would have an extra $1,200 a month over bare bones if you manage your money ok. Dump the standard 10% into savings ($300 a month) andyou are still doing ok. Is it tight, yes, but is it dirt poor, not even close.
 
2013-01-30 12:56:32 PM

Galloping Galoshes: gonzoduke: I can't think of a reason you'd cash your check at one bank and go to deposit that same money into another bank. I smell bs

Probably because the check was drawn on the first bank. This way the guy doesn't have to wait for the check to clear to get access to his cash.

I smell someone who's never had a job.


Or someone with a real job that doesn't pay in cheques.

Cheques and cash is for people who don't have a bankaccount.
 
2013-01-30 12:57:26 PM
I was given a counterfeit 100 bill by TD bank. Noticed it looked funny and took it right back in. End result...I was out 100. They wouldn't replace it nor look at videos showing I didn't do anything while outside for 15 seconds. Just no.

FU*K THE BANKS!
 
2013-01-30 12:59:55 PM

MycroftHolmes:
OK, in DFW, it is perfectly possible to have a very decent house in a working class neighborhood for $60K. Call it $550 per month (morgage plus insurance), $200 for utilities, $200 for groceries, $200 for incidentals, you have a monthly burn rate of close to $1,200. 40K would be around $2,500 a month after taxes. So you would have an extra $1,200 a month over bare bones if you manage your money ok. Dump the standard 10% into savings ($300 a month) andyou are still doing ok. Is it tight, yes, but is it dirt poor, not even close.


So let's assume it not being in some hell hole for $60k mortgage and put it at the more reasonable $150k range.

House 1200
Utilities (gas electric) 250 is a better number btw unless you live down south with no winter
Grociers 450 I'm sorry there is no way you are spending 200 a month in groceries
That alone is almost $2k and that's not even in adding in car insurance and god forbid you have a car payment or two. They would be living paycheck to paycheck for sure.
 
2013-01-30 01:00:17 PM

Lets talk frankly about internal cleanliness: SevenizGud: Dude, you barely clear $40k. You have MUCH bigger problems than this counterfeit bills thing.

As someone with a combined household income of less than $40k, what are these "MUCH bigger problems" you speak of?

Bought our home 2 years ago, will be paid off in another 7. 2 cars, no payments. One credit card, low limit. Only pay for internet, no cable-- Netflix and local stations only. Between our chicken coop, garden and the local grocer, we eat well. My kid has 4 acres to play on. We have medical insurance, which we pay for.

I'm 31, wife's 28, kid is 5. It's not like we're super bootstrappy or even tight with money. It's called living within your means, and it isn't that difficult. Hell, I could do all of this 4 times over for what the folks in the subdivision behind me paid for those crapboxes. But I guess they all pity me, with my sub-$40k income.



This
 
2013-01-30 01:02:46 PM

TNel: david_gaithersburg:
.
Also when you automatically determine that a person is innocent, regardless of facts, just because they have a Hispanic sounding name. Yeah, and you're calling me racist?

No it's because I can READ

"For those of you saying he did not pay taxes on the money, I am sickened. Just because my father has an accent does not mean he is an illegal, or working on some illegal scheme. In fact he is a United States Citizen and has been in this country for more than 20 years.

The amount wasn't exactly $1800, that's just the amount the reporters estimated the actual amount was $1889.75

My father has no criminal background. He has never been convicted of anything. He is an honest, hard-working family man who pays his taxes for your kids to go to school!"

Fark off and go beat off to the fox news "reporters".


.
I'm reading that the employer pays him with a check made payable to Sovereign Bank. If I were an IRS agent I'd be all over this like flies on shiat. What am I missing. Please try to respond without your the foaming at the mouth and name calling.
 
2013-01-30 01:07:01 PM

david_gaithersburg: TNel: david_gaithersburg:
.
Also when you automatically determine that a person is innocent, regardless of facts, just because they have a Hispanic sounding name. Yeah, and you're calling me racist?

No it's because I can READ

"For those of you saying he did not pay taxes on the money, I am sickened. Just because my father has an accent does not mean he is an illegal, or working on some illegal scheme. In fact he is a United States Citizen and has been in this country for more than 20 years.

The amount wasn't exactly $1800, that's just the amount the reporters estimated the actual amount was $1889.75

My father has no criminal background. He has never been convicted of anything. He is an honest, hard-working family man who pays his taxes for your kids to go to school!"

Fark off and go beat off to the fox news "reporters".

.
I'm reading that the employer pays him with a check made payable to Sovereign Bank. If I were an IRS agent I'd be all over this like flies on shiat. What am I missing. Please try to respond without your the foaming at the mouth and name calling.


Read my above post. A bank will not cash a check made payable to that bank and give "someone" that money. You really are a moran.
 
2013-01-30 01:08:35 PM

david_gaithersburg:
.
I'm reading that the employer pays him with a check made payable to Sovereign Bank. If I were an IRS agent I'd be all over this like flies on shiat. What am I missing. Please try to respond without your the foaming at the mouth and name calling.


Do you really think a bank is going to cash a check made payable to the bank from some random dude?
 
2013-01-30 01:10:41 PM
Who gets paid by cheque anyway?
Its 2013 now guys, we live in the future, direct deposit or go home...
 
2013-01-30 01:13:03 PM

TNel: MycroftHolmes:
OK, in DFW, it is perfectly possible to have a very decent house in a working class neighborhood for $60K. Call it $550 per month (morgage plus insurance), $200 for utilities, $200 for groceries, $200 for incidentals, you have a monthly burn rate of close to $1,200. 40K would be around $2,500 a month after taxes. So you would have an extra $1,200 a month over bare bones if you manage your money ok. Dump the standard 10% into savings ($300 a month) andyou are still doing ok. Is it tight, yes, but is it dirt poor, not even close.

So let's assume it not being in some hell hole for $60k mortgage and put it at the more reasonable $150k range.

House 1200
Utilities (gas electric) 250 is a better number btw unless you live down south with no winter
Grociers 450 I'm sorry there is no way you are spending 200 a month in groceries
That alone is almost $2k and that's not even in adding in car insurance and god forbid you have a car payment or two. They would be living paycheck to paycheck for sure.


You can easily spend less than 450 a month on groceries.......thanks to coupons and sales. It might take some time and some planning but it can absolutely be done.
 
2013-01-30 01:15:13 PM

rogiesangel:

You can easily spend less than 450 a month on groceries.......thanks to coupons and sales. It might take some time and some planning but it can absolutely be done.


I used to be the biggest coupon shopper ever but the most recent coupons frankly suck and they are never for crap you need like meat. It's always for side items like condiments, chips and salsa and tons of beauty supplies.
 
2013-01-30 01:17:00 PM

Galloping Galoshes: gonzoduke: I can't think of a reason you'd cash your check at one bank and go to deposit that same money into another bank. I smell bs

Probably because the check was drawn on the first bank. This way the guy doesn't have to wait for the check to clear to get access to his cash.

I smell someone who's never had a job.


First of all, I stand corrected. Second of all, I've been with the same employer for 12 years, 6 years the employer before this one. Before that I was a gigolo.
 
2013-01-30 01:19:09 PM

gonzoduke: I can't think of a reason you'd cash your check at one bank and go to deposit that same money into another bank. I smell bs


Maybe because if you deposit a check at your bank it can take days to "clear" - which means a couple of days your bank uses your money as its own. If you cash the check at the bank where the account on the check is, you get cash. You deposit the cash into your account and your deposit posts immediately.

Seriously, you didn't know this?
 
2013-01-30 01:19:47 PM

ZAZ: Beta Tested

When payroll taxes accumulate to $100,000 the business is required to pay the IRS by the next business day.


Did not know that, thanks!

/hate spreading false info
 
2013-01-30 01:21:29 PM

Clent: My credit union has a policy that large non-payroll checks are held for up to 10 business days while it's 'processed' to prevent fraud. In this day and age of wire-transfers and instant communication, this makes no sense to me but presumably old-school instituions regulated by governments have their reasons.


Who benefits from that? Your bank or CU does. They get to use your money for days and make more money with it. Bankers should be burned in the streets.
 
2013-01-30 01:23:41 PM

david_gaithersburg: No. He's AND his employer are cheating on taxes by the check being made out to cash. But continue with the name calling if it makes you feel better


You don't know that, prick.
 
2013-01-30 01:27:26 PM
Its called the Secret Service, there are fingerprints from the teller that handled the money and the money's serial numbers are recorded by the counter machine. There IS a trail.

If you return to a bank with money that was refused by another bank and they try to play a game you instruct the bank manager to call the secret service, if they refuse you pick up the phone have the operator connect you to the secret service. Its damned cold hard fact, the buck stops at the secret service. When it comes to currency take no shiat from the bank, they have insurance to cover counterfeit money and if they pass it off to anyone they're double-down dirty and need investigated.
 
2013-01-30 01:29:52 PM

gonzoduke: I can't think of a reason you'd cash your check at one bank and go to deposit that same money into another bank. I smell bs


It happens all the time. A lot of banks will put a hold on all checks deposited over a certain amount. So people go to the bank that their paycheck is drawn from and get cash to take to their bank because cash is available immediately.
 
2013-01-30 01:34:57 PM

Galloping Galoshes: The followup says that the bills weren't counterfeit, just old. Small head $100s. The teller at his bank must have been some high-school grad that never saw one before.


You'd think working in a job that does nothing but deal with money he'd be savvy to the old ones, but in theory (that is, the "way it was supposed to be") no one should have to be familiar with them. But because of the clusterfark around the printing and release of the new $100 bills (currently two years behind schedule, and it will be at least six more months from the date they do make an announcement), counterintuitively we're seeing a lot more pre-1996 bills popping up in circulation. The 2006As are supposed to fill the gap but they're obviously not, as my bank has tried to give me pre-1996 bills twice in the past year. I'd never had a problem getting relatively new bills until around 2010.

So this is likely to get worse before it gets better, "better" meaning either the new bill supply finally catches up with demand or more tellers and cashiers are educated on what the old bills look like.
 
2013-01-30 01:40:57 PM

TNel: david_gaithersburg:
.
I'm reading that the employer pays him with a check made payable to Sovereign Bank. If I were an IRS agent I'd be all over this like flies on shiat. What am I missing. Please try to respond without your the foaming at the mouth and name calling.

Do you really think a bank is going to cash a check made payable to the bank from some random dude?


He doesn't need facts, he's got racism on his side.
 
2013-01-30 01:44:00 PM

Apik0r0s: gonzoduke: I can't think of a reason you'd cash your check at one bank and go to deposit that same money into another bank. I smell bs

Maybe because if you deposit a check at your bank it can take days to "clear" - which means a couple of days your bank uses your money as its own. If you cash the check at the bank where the account on the check is, you get cash. You deposit the cash into your account and your deposit posts immediately.

Seriously, you didn't know this?


I've had direct deposit for 18 years. Geez, peeps, take it easy. I was a little fuzzy this morn from pool leagues last nite. Haven't you ever made a mistake in your life?
 
2013-01-30 01:46:34 PM

TNel: MycroftHolmes:
OK, in DFW, it is perfectly possible to have a very decent house in a working class neighborhood for $60K. Call it $550 per month (morgage plus insurance), $200 for utilities, $200 for groceries, $200 for incidentals, you have a monthly burn rate of close to $1,200. 40K would be around $2,500 a month after taxes. So you would have an extra $1,200 a month over bare bones if you manage your money ok. Dump the standard 10% into savings ($300 a month) andyou are still doing ok. Is it tight, yes, but is it dirt poor, not even close.

So let's assume it not being in some hell hole for $60k mortgage and put it at the more reasonable $150k range.

House 1200
Utilities (gas electric) 250 is a better number btw unless you live down south with no winter
Grociers 450 I'm sorry there is no way you are spending 200 a month in groceries
That alone is almost $2k and that's not even in adding in car insurance and god forbid you have a car payment or two. They would be living paycheck to paycheck for sure.


If your point is that you should not buy a house nearly four times your income, congrats, you proved a point that no one was arguing. The point in question was, is 40K so dirt poor that anyone trying to live on that income is going to have major problems. The answer is no, not at all. Can you live more comfortably and in a nicer house with a larger paycheck, yes, yes you can.

And yes, a small family can get by on $200 a month in groceries. If you cook your own food, cook in bulk, and look for sales and coupons, you should be able to keep you meals down to about $3 or less a serving. For 2 people, that would be around $180.

Not saying that $40K is enough for luxuries or irresponsible spending, just that it is a perfectly livable income without having to live a 'dirt poor' lifestyle.
 
2013-01-30 01:51:17 PM
I worked in Las Vegas for several years as a consultant. My client, a local government agency, had several hundred custodial employees. ~50 of those had no bank account and lots of reasons for not opening one. They would take their paycheck to a casino and cash it there. This was problematic for the employer when introducing direct deposit - they're not likely to deposit it into a casino account.
 
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