Can You Get Change From a Bank Without an Account
| Is it legal for a bank to decline to alter bills for quarters, or change bills, if you lot don't have an business relationship? Sure, they're a private company, but aren't in that location Fed rules they have to comply with around providing sure public services if they participate in FDIC? |
| I don't know most the legality of information technology, but if you walk into a random bank branch to change a $twenty into two rolls of quarters, sometimes they say yes, sometimes they say no. |
| Poking around the internet: information technology seems to be sourced from requirements in the Bank Secrecy Act. Basically, financial institutions have to keep records and study on various things (including "suspicious" action). If a bank doesn't want to open itself potential sanctions, it's safer just to say no to untraceable transactions. -mhac³ |
| Nope. The states banks are under no obligation to brand alter for anyone, regardless of their account-property status. (unless there are local laws that make such a requirement) The best style to become change out of a banking company is to pull money from an business relationship and request specific denominations. Source: Bank employees from various forums |
| Ok, and then, it's a policy that was put in place a couple of months ago. I've simply been going to get laundry money from a dissimilar banking concern, but I was closer to this one this calendar week. 99.nine% of the time information technology'south piece of cake non having a local depository financial institution (USAA), it's simply things like this where the bank is being shitty. Nope. Usa banks are under no obligation to make change for anyone, regardless of their account-belongings condition. (unless there are local laws that make such a requirement) The best way to get alter out of a bank is to pull money from an account and request specific denominations. Source: Banking concern employees from various forums Ok, so non a legal requirement necessarily. |
| Pull like Riker and Troi did in The Royale, and buy the depository financial institution. |
| Why practise banks hate laundry? |
| Enquire what it costs to open an account. Assuming no costs, open up an account, deposit money, withdraw coin in desired format, shut account. See if they want to practice the paperwork, or just make some fucking change. |
| I got change at Pacific Bank. I pulled out $700 bucks and instead of a wad of 20'south I asked for hundos. The overnice lady did it for me with nary a blink then tried to go me to open an account. No cheers madam, I just needed your convenience. |
| The Zen monks told me that "True change comes from within" So, eat the $20. You'll poop quarters. |
| Ask what it costs to open an account. Assuming no costs, open an business relationship, deposit money, withdraw money in desired format, close business relationship. Run across if they want to do the paperwork, or just make some fucking change. Heh. They probably want my SSN. I'd rather take ane less company having my SSN and personal data. Otherwise, I'd be happy to become in. Deposit $20. Withdraw my money immediately as quarters, and inquire to close the account. Hehehe. That'd be a fun game to play with them, bold I wasn't pressed for time that day. |
| The Zen monks told me that "True change comes from within" So, consume the $20. You'll poop quarters. Unless you had Taco Bell for lunch. Then it may simply be a stream of pennies. |
| I was kind of annoyed that I couldn't even get some banks to outright *have* greenbacks money. Several years ago I sold a used vehicle for a reasonable corporeality (way beneath the US$10K reporting threshold btw). The heir-apparent paid cash which I was glad to have, still I did not want to leave a few thousand dollars in my house nor did I want to conduct it effectually with me. I wanted it in my bank account. Which is a problem considering I was using an out of state banking concern at the time, so I couldn't just go to the nearest branch. No problem, I'll take the cash to any erstwhile bank, manus it to them, and they'll give me a cashier's check or at least a bank check. I went to three unlike banks earlier they said anything *other* than please open an account kickoff. The one that finally took the money made me show pic ID and verify that the bank check was existence fabricated out to me personally. And they charged me a fee for the bank check anyway and then in some sense I was still a customer in the sense that I had to pay to receive a service. |
| My bank doesn't have cash What I want to know if it a restaurant can legally limit the amount of credit cards per political party they accept? I mean, in SF most restaurants won't take more than ii, but what if I say "I don't know these people and don't want to have to settle up with them after, yous can swipe my menu or comp my meal", somehow I'm the asshole. I mean, I am attempting to pay them with a credit card that is featured prominently on their front door, with no sign or anything on the web site saying it, and they're trying to tell me they're refusing my payment? |
(Charles Schwab).| You need a First CitiWide Modify Banking company location most y'all is all. Disallowment that, I've found that supermarkets are way meliorate near getting alter than banks have been. |
| Banks must be getting more finicky about handling cash and change (coins). Only this concluding Tuesday, someone I know who owns and operates several concern - including 2 car washes and two laundromats (think lots and lots of quarters and small bills) - told me that her bank refused to have the coinage. She'd been with them for years, and had been making such deposits weekly, sometimes more oftentimes, "forever." She told them to requite her a solution within 48 hours or she'd modify banks. Not sure how information technology worked out. |
| It'southward almost like the banks don't _want_ customers anymore. At least, not unless y'all've got $$$$$$$ zero'south before the decimal point to give them so they can take risky investment risks with. |
| I know HSBC didn't want me since I didn't have their stupid Premier account. I airtight my account shortly. |
| What I desire to know if it a restaurant tin can legally limit the amount of credit cards per party they accept? I mean, in SF most restaurants won't accept more than 2, but what if I say "I don't know these people and don't want to have to settle upwardly with them after, you can swipe my carte du jour or comp my repast", somehow I'm the asshole. I mean, I am attempting to pay them with a credit menu that is featured prominently on their front end door, with no sign or anything on the web site saying it, and they're trying to tell me they're refusing my payment? I'm pretty sure that's totally legit of them. If you don't want to pay with a single source, and so don't be on the same ticket. |
| ^ Exactly. Some places don't fifty-fifty allow y'all to split the check, and I don't blame them. |
| Each card has it'due south own swipe fee, so parties that split checks into many cards increase their costs. |
| No problem, I'll have the greenbacks to whatever old banking company, paw it to them, and they'll give me a cashier's cheque or at least a bank bank check. I went to three different banks earlier they said anything *other* than please open up an account starting time. The ane that finally took the money made me show picture show ID and verify that the cheque was beingness made out to me personally. And they charged me a fee for the bank check anyway so in some sense I was all the same a customer in the sense that I had to pay to receive a service. Did you lot have to have it equally a cashier's check? Unless I'm doing something with a high cost (>>$1k) I'd rather not suck down the $ten or and so on a cashier's check fee and go a coin order from merely about any check cashing, payday loan mode location or seven-11 (though for some values its ameliorate to become to a check cashing place since there are some limits that places like vii-11 put on total amounts). $.75-$1.50 and you take a piece of printed newspaper in trade for your pieces of colored paper that you lot can send off to your bank equally a deposit. Generally with no real hassle. |
| No problem, I'll accept the cash to any old bank, hand it to them, and they'll give me a cashier's check or at least a bank check. I went to three unlike banks before they said annihilation *other* than please open up an account first. The one that finally took the money made me testify picture show ID and verify that the bank check was being fabricated out to me personally. And they charged me a fee for the check anyway then in some sense I was withal a customer in the sense that I had to pay to receive a service. Did you take to have information technology as a cashier'southward check? Unless I'm doing something with a loftier cost (>>$1k) I'd rather not suck down the $10 or so on a cashier'due south check fee and get a money order from only nearly any check cashing, payday loan manner location or 7-11 (though for some values its amend to go to a bank check cashing place since there are some limits that places like vii-xi put on full amounts). $.75-$1.50 and you have a piece of printed newspaper in trade for your pieces of colored paper that you tin can send off to your depository financial institution every bit a eolith. Mostly with no existent hassle. It was a while agone, just equally I recall they gave me a depository financial institution check (not a cashier's check, which i didn't need anyway) and information technology was about a $7 fee. They were really very dainty and polite and the teller was cute plus they really took my money, so overall i was actually pleased with that bank. It was the other banks that demanded I open up an account first that i was really ranting in the general direction of. The check cashing places nigh me at the time were kind of in the seedy part of town, exactly where I didn't want to be carrying greenbacks. Postal money order was also a possibility, I think the fees would accept been about the same. Did not know about 7-11, you lot got me there. Not that information technology actually matters only it was $2400. Enough for me to not really mind paying a pocket-sized fee. Coinstar charges like x% these days, now in that location'southward a ripoff. |
| Did you have to have it as a cashier'due south check? Unless I'm doing something with a high toll (>>$1k) I'd rather non suck down the $10 or so on a cashier's check fee and get a money society from but about any check cashing, payday loan fashion location or 7-11 (though for some values its meliorate to go to a cheque cashing identify since there are some limits that places like 7-xi put on total amounts). $.75-$ane.50 and you accept a piece of printed paper in trade for your pieces of colored paper that you can send off to your bank every bit a deposit. Generally with no real hassle. I typically get with a postal money guild. Fairly standard, and typically cheap. |
| I've constitute that supermarkets are way better well-nigh getting change than banks have been. Yes. I have a laundry quarter habit, likewise. Coin-op in my apartment building with no bill changers. I go to the customer service desk at Wegmans or the coin-op car wash that gladly gives me equally many quarters as I want, upward to a $xx bill, every bit many as I want. The nearly I ordinarily get is $xx-30 at a fourth dimension and I feel bad when I'yard not washing my car (which is unremarkably) so this is comforting: Simply this last Tuesday, someone I know who owns and operates several business concern - including two motorcar washes and two laundromats (think lots and lots of quarters and small bills) - told me that her depository financial institution refused to take the coinage. She'd been with them for years, and had been making such deposits weekly, sometimes more than often, "forever." She told them to requite her a solution inside 48 hours or she'd alter banks. Not sure how information technology worked out. All this time I felt like a coin parasite, I was really helping my local coin-op car wash owner. Coinage symbiosis! |
| It was a while ago, but as I recall they gave me a banking company bank check (non a cashier'south check, which i didn't need anyway) and it was about a $7 fee. Ah, ok, I misread that and thought it was a recent issue. Quote: The check cashing places most me at the time were kind of in the seedy part of boondocks, exactly where I didn't want to exist conveying cash. Postal coin social club was too a possibility, I retrieve the fees would have been about the same. Did not know most vii-11, you got me there. Yeah, I get that. They're nigh useful to lower income people who can't maintain enough of a balance for a gratuitous bank account and can't afford maintenance fees. I'm kind of lucky in that there'southward a few near me in a decent part of town (benefits of living in a state capital that'south also not a Big City. |
| ^ Exactly. Some places don't even allow you lot to split the bank check, and I don't blame them. I just carry greenbacks now when I dine with others and pay my share correct away. I gauge growing up in Montreal where they had computers that hands split checks every bit standard spoiled me. Lightheaded that I assumed the restaurant capital of America would be so far behind technology wise If it's ii people we either split it or I treat so it's not an issue. |
| Most restaurant computer systems can easily split checks. Simply in the US, every card used has its own swipe fee, on top of the per centum they have, then if a unmarried check is carve up a lot, it can actually affect profitability. That and the greater cost of reconciling at the end of a the shift, and the increased adventure for fault. |
| Quote: But in the US, every carte used has its own swipe fee, on meridian of the pct they take, so if a single check is split a lot, it can really affect profitability. This++; Definitely non a technology result, it'due south a cost issue. And yeah I endeavour to carry cash just for that, likewise. |
| I was kind of bellyaching that I couldn't even get some banks to outright *accept* greenbacks coin. Several years ago I sold a used vehicle for a reasonable amount (way beneath the US$10K reporting threshold btw). The buyer paid cash which I was glad to accept, however I did not want to leave a few chiliad dollars in my business firm nor did I want to carry information technology around with me. I wanted it in my banking company account. Which is a problem considering I was using an out of state bank at the fourth dimension, so I couldn't only go to the nearest branch. No problem, I'll accept the cash to whatever old bank, manus it to them, and they'll requite me a cashier'southward check or at least a bank cheque. I went to three different banks earlier they said anything *other* than please open an account first. The 1 that finally took the coin made me show film ID and verify that the check was being made out to me personally. And they charged me a fee for the cheque anyway so in some sense I was still a customer in the sense that I had to pay to receive a service. This sets off all sorts of money laundering flags. Banks are going to CYA all the fashion downward, nobody wants to be on the claw for whatsoever sort of accountability in this area. |
| Quote: Merely in the The states, every menu used has its own swipe fee, on pinnacle of the percentage they take, then if a single bank check is split a lot, it tin can actually impact profitability. This++; Definitely not a engineering issue, it'south a cost issue. And aye I try to carry cash just for that, too. Speaking of which, we need to go to feng mao again soon |
| This sets off all sorts of coin laundering flags. Banks are going to CYA all the way downwardly, nobody wants to be on the hook for any sort of accountability in this area. Unless they are HSBC, who increased the size of their teller windows to make it easier to facilitate laundering of Mexican drug money. |
| Inquire what it costs to open an account. Bold no costs, open an business relationship, eolith money, withdraw money in desired format, close account. See if they want to do the paperwork, or just brand some fucking alter. If you lot think opening an business relationship is going to carp that teller, it probably won't. They do get credit for new accounts. And at that place probably is a policy in place that requires accounts to be open for a specified amount of time (greater than an hour) before it can be closed. |
| ^ Exactly. Some places don't fifty-fifty let you to split the check, and I don't blame them. I just carry cash now when I dine with others and pay my share right away. I gauge growing upwards in Montreal where they had computers that easily divide checks equally standard spoiled me. Silly that I causeless the restaurant uppercase of America would be and so far behind applied science wise If it's two people we either split up it or I treat so it'due south non an upshot. In the Uk, with Chip + PIN splitting the bill into more than two cards is easy. It takes less time than people trying to pay their share in greenbacks and and so working out how much change is due. I'm ever amazed that the United states of america have never caught on to how easy Fleck + PIN is. (And no, Chip + Signature isn't as like shooting fish in a barrel...) |
| In the United kingdom of great britain and northern ireland, with Chip + PIN splitting the pecker into more than than ii cards is easy. It takes less time than people trying to pay their share in cash and and then working out how much change is due. If chip+pin doesn't remove the charges for each transaction, then information technology doesn't affair how easy information technology is considering it's a financial decision, non technical. |
| Speaking of which, we need to go to feng mao again before long Did yous desire to commencement upward a thread? |
| In the Britain, with Chip + PIN splitting the pecker into more than ii cards is easy. It takes less time than people trying to pay their share in cash and then working out how much alter is due. If fleck+pin doesn't remove the charges for each transaction, then it doesn't matter how easy information technology is because it's a financial decision, non technical. On top of that Chip+Pin has zip to practise with "like shooting fish in a barrel" when it comes to POS terminals. The process to split up checks varies by POS system and many of them are (sadly, nonetheless) awkward and/or fourth dimension consuming. The final restaurant I worked at actually had a more mod Squirrel arrangement and information technology was pretty like shooting fish in a barrel to practise an capricious number of arbitrary (per-seat though) splits. The previous version was...not so much. |
| In the Britain, with Chip + Pivot splitting the beak into more two cards is like shooting fish in a barrel. It takes less fourth dimension than people trying to pay their share in cash then working out how much alter is due. If chip+pin doesn't remove the charges for each transaction, and then it doesn't matter how like shooting fish in a barrel it is because it's a fiscal determination, not technical. Usa cards must accuse a hefty per transaction fee then...! In the UK the fee is very small. I'thousand more worried about the per centum they take. |
| In the Uk, with Chip + Pivot splitting the pecker into more than than ii cards is like shooting fish in a barrel. It takes less time than people trying to pay their share in cash then working out how much change is due. If chip+pin doesn't remove the charges for each transaction, and so it doesn't matter how piece of cake it is because it's a financial determination, not technical. US cards must charge a hefty per transaction fee then...! In the Uk the fee is very modest. I'm more worried about the percent they take. Depending on processors the rate goes up. Every bit average ticket size goes downwardly, the rates tend to become upwards. As number of tickets increases the per ticket volition by and large become down. Nevertheless those terminal two aren't linked so it takes a greater number of tickets to showtime the boilerplate price going down when you lot commencement looking at smaller spends. When yous consider that restaurants are have a low-mid single digit profit margin and it'due south a business type that, depending on location in many cases, can see large numbers of individuals* dining together you tin run across why splitting checks tin be problematic. Having meliorate payment processors can assistance every bit does chain-level scale (when the stores all apply a single, central, payment processor that has agreements with the concatenation instead of individual locations and transactions are aggregated). Others may have a higher than average profit margin and cull to apply some of that for customer convenience and still others simply care about customer convenience/experience such that they'll consume the additional costs when they occur. IME, the bigger the chain the more probable that they volition allow divide-checks. The smaller, the less likely. This is one of those places that scale benefits to a substantial degree. *Here I'm referring to groups comprised of people that aren't financially linked. Co-workers or a grouping of students dining together might prefer to pay individually vs a family paying with a single check. |
Source: https://arstechnica.com/civis/viewtopic.php?t=1289657
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