View Full Version : Bye, Citibank!
Will have to find a new bank & credit card company now.
[edited by foxtrot - informal personal prohibition against posting any A.J. links - nothing personal]
[Original link was to a site that alleged a citibank email prohibited banking involving high cap magazines and sales < 21]
I was listening to a guy today explaining why banks will be out of business in a few years (10?). It's exactly for reasons like this. I've only been researching for a while, but this is why the creators of Bitcoin created it. When they finally figure out the details crypto currency will solve issues like this. Bitcoin is still the best way to anonymously buy a tiger on the dark web. Citibank probably has a policy against that too.
Are they going to stop other things? Like a guy that buys too much booze? Eats an unhealthy diet? Too much gas, causing global warming. I dropped them the first time this policy was brought to light. This is not new. Others do it too.
Madeinhb
03-22-2018, 20:51
Time to cancel my credit card.
Zundfolge
03-22-2018, 21:00
I really need to think about moving my banking from US Bank* to Ent Credit Union and refinancing my house through them (since Citi bought our mortgage several years ago).
*Nothing really wrong with US Bank, but you know eventually they'll pull this kinda shit ... and you have to be a member at a CU to get a mortgage through them.
BPTactical
03-22-2018, 21:03
Amazing how many corporations / entities are willing to commit financial Seppiku over feels and false pretenses.
Amazing how many corporations / entities are willing to commit financial Seppiku over feels and false pretenses.
The thing is, it won't be financial Seppiku. If it was, they'd never do it.
I was listening to a guy today explaining why banks will be out of business in a few years (10?). It's exactly for reasons like this. I've only been researching for a while, but this is why the creators of Bitcoin created it. When they finally figure out the details crypto currency will solve issues like this. Bitcoin is still the best way to anonymously buy a tiger on the dark web. Citibank probably has a policy against that too.
Are they going to stop other things? Like a guy that buys too much booze? Eats an unhealthy diet? Too much gas, causing global warming. I dropped them the first time this policy was brought to light. This is not new. Others do it too.
This sort of thing is the idea behind "social credits" that China is moving towards.
https://en.wikipedia.org/wiki/Social_Credit_System
vectorsc
03-22-2018, 22:55
i would research the concept that if Citi changes the terms of your loan in flight that they breach your contract and your loan balance is forfeit.
Still...fuck Citi. i still think they should have their country and we should have ours.
I wish I had an account or card with Citibank.
So I could close it.
I think leaving a credit card balance at zero and never using it hurts the company more than just closing the card, but I'm not sure. Anyone know?
GilpinGuy
03-22-2018, 23:24
Keep a $0.02 balance and insist on paper statements. [Coffee]
I think I'll loose my card monthly also
I am seriously planning to close my US bank account. Everytime if I deposit $500 or more, they require to see ID+ask personal question.
I understand withdrawl,but on deposit? 20 second deposit will end up 3 minutes. Every damn time......
That is very annoying. They don't ask for id with direct deposit. What's the difference?
BOA did this not long ago as well. Options are slimming down
CoGirl303
03-23-2018, 05:25
https://www.navyfederal.org/
For those of you who are veterans, Navy Federal Reserve Credit Union, now accepts veterans as members.
They only used to take active duty and retired personnel, but they changed that policy in February of 2017.
They have excellent interest rates on mortgages and cars.
personal loan interest rates are a bit high.
https://uploads.tapatalk-cdn.com/20180323/c61e47c0c501a609180e80b3f02bd59e.jpg
Sent from my iPhone using Tapatalk
Jeffrey Lebowski
03-23-2018, 06:35
I think leaving a credit card balance at zero and never using it hurts the company more than just closing the card, but I'm not sure. Anyone know?
Probably, but given how automated everything is, it "hurts" to the tune of probably less than pennies on the year.
https://www.navyfederal.org/
For those of you who are veterans, Navy Federal Reserve Credit Union, now accepts veterans as members.
They only used to take active duty and retired personnel, but they changed that policy in February of 2017.
They have excellent interest rates on mortgages and cars.
personal loan interest rates are a bit high.
https://uploads.tapatalk-cdn.com/20180323/c61e47c0c501a609180e80b3f02bd59e.jpg
Sent from my iPhone using Tapatalk
^^^ you are right! Been a member since 1990.
Zundfolge
03-23-2018, 08:20
I am seriously planning to close my US bank account. Everytime if I deposit $500 or more, they require to see ID+ask personal question.
I understand withdrawl,but on deposit? 20 second deposit will end up 3 minutes. Every damn time......
That's the law. Any time they deal in $500 or more in cash they have to ask you what you do for a living because drug dealers are going to be honest and that way they can catch them. Eventually cash will be outlawed (and then we'll all do business based on the mark stamped on our hand or forehead).
I asked the teller last time this happened if anyone has fessed up to being a drug dealer and she laughed. I also said I should have told her I was a space shuttle pilot, because its not like they actually verify these things.
That is very annoying. They don't ask for id with direct deposit. What's the difference?
Cash is anonymous, a direct deposit has a paper trail (so basically you've already answered the questions).
I think leaving a credit card balance at zero and never using it hurts the company more than just closing the card, but I'm not sure. Anyone know?
The sad truth is that closing your credit card will do more damage to you than to the bank. It'll ding your credit rating. Maintaining a card with a zero balance is a slight (very slight) imposition on the bank since they still have to keep all the requisite records. I'd also think that paying the card off every month is a bit of an imposition on the bank too since they don't get any interest on the money (although they still get the processing fees).
That's the law. Any time they deal in $500 or more in cash they have to ask you what you do for a living because drug dealers are going to be honest and that way they can catch them. Eventually cash will be outlawed (and then we'll all do business based on the mark stamped on our hand or forehead).
I asked the teller last time this happened if anyone has fessed up to being a drug dealer and she laughed. I also said I should have told her I was a space shuttle pilot, because its not like they actually verify these things.
They ID if you change $400 (or any random amount seemingly) in 20's & 10's for 100's now too. She asked me for my profession & knew I wasn't going to be happy (I go in there a lot & get along very well with branch staff) so before I could even reply she said: "I'm just going to put Trophy Husband" to which I lol'd. My wife is a Professional Juggler.
There is no burden of proof to this question so the more ridiculous people are with their answers the quicker they realize this is an asinine exercise.
The bank employees aren't cops. What if you say you're a drug dealer, do they just decline the transaction? I'm sure they call the police as well.
I think the correct answer should be, "I borrow money from people, then loan it out to other people at a higher interest rate than I originally borrowed it. Whatever that is called."
68Charger
03-23-2018, 11:15
I haven't had this asked of me- this a recent Colorado law? Because my wife just deposited $500 in cash here in TX and wasn't asked any silly questions.
One could have all kinds of fun answers for crap like this...
Bovine Scatologist
Uradumb Bureaucrat (a message for someone reading the entered information)
Pornography Historian
Freelance Sperm Donor
Cat Herder
Personal Impersonator
gotta come prepared tho, the best ones don't just come to you at the moment- unless you're like Robin Williams
I haven't had this asked of me- this a recent Colorado law? Because my wife just deposited $500 in cash here in TX and wasn't asked any silly questions.
No law exists requiring this. They claim that most banks are voluntarily making policy changes in the name of heightened security to keep the government from stepping in or some crock like that.
I have to show ID whenver I deposit ANY amount of cash, or otherwise, in person. No one other than myself can make deposits in my account either. Assinine policy for sure.
ME: Honey, could you drop this $300 in my credit union account, since you're going to be right across the street?
HER: Sure thing dear.
HER (Later): Sorry. They wouldn't let me make a deposit, cash or otherwise, because I am not on the account.
True story...
68Charger
03-23-2018, 11:33
No law exists requiring this. They claim that most banks are voluntarily making policy changes in the name of heightened security to keep the government from stepping in or some crock like that.
glad my bank isn't that stupid... but they do have a worthless non-compliant no-guns sign out front... which means nothing in the state of TX, unless it has specific 30.06 (concealed) or 30.07 (open carry) verbiage.
So I carry concealed in there whenever I go... their interest rates on checking accounts are way better than anything I've seen before.
Used to be federal law was $5000. Is $500 limit state, federal or bank?
That's the law. Any time they deal in $500 or more in cash they have to ask you what you do for a living because drug dealers are going to be honest and that way they can catch them. Eventually cash will be outlawed (and then we'll all do business based on the mark stamped on our hand or forehead).
kidicarus13
03-23-2018, 12:03
Used to be federal law was $5000. Is $500 limit state, federal or bank?Are you thinking of the Currency Transaction Report reported to FinCEN for each transaction of $10K or more?
Are you thinking of the Currency Transaction Report reported to FinCEN for each transaction of $10K or more?
Not sure. On a few occasions I have had to deposit large sums of cash at my FCU. I was told that cash deposits over $5000 had to be reported to the govt. (not sure what dept). So, I made several $4999 deposits and all was fine. This has been a few years ago.
Not sure. On a few occasions I have had to deposit large sums of cash at my FCU. I was told that cash deposits over $5000 had to be reported to the govt. (not sure what dept). So, I made several $4999 deposits and all was fine. This has been a few years ago.
Criminal.
BushMasterBoy
03-23-2018, 12:34
eff US bank for the $5 fee for cashing a check over $25 written on their bank without an account. Go to a credit union. eff them twice. X3
eff US bank for the $5 fee for cashing a check over $25 written on their bank without an account. Go to a credit union. eff them twice. X3
This fee is waived for veterans and first responders.
Just sayin'
Not sure. On a few occasions I have had to deposit large sums of cash at my FCU. I was told that cash deposits over $5000 had to be reported to the govt. (not sure what dept). So, I made several $4999 deposits and all was fine. This has been a few years ago.
I was told the same about cash withdrawals $10k and over several years back. Although a coworker withdrew $20k cash less than a year ago, and all they said was, "please give us a day or two advance notice, so we make sure to have the cash on hand". No paperwork, nothing.
Who can keep up with all the rules, regs and changes?
This was a CU, BTW.
BushMasterBoy
03-23-2018, 12:46
This fee is waived for veterans and first responders.
Just sayin'
They never offered me that...eff them 4X
I was told the same about cash withdrawals $10k and over several years back. Although a coworker withdrew $20k cash less than a year ago, and all they said was, "please give us a day or two advance notice, so we make sure to have the cash on hand". No paperwork, nothing.
Who can keep up with all the rules, regs and changes?
This was a CU, BTW.
I've done the same more than once and I think they just asked for ID. That doesn't bother me at all, since I want them to make sure it is really me that is taking money OUT of my account.
NFATrustGuy
03-23-2018, 13:20
I was told the same about cash withdrawals $10k and over several years back. Although a coworker withdrew $20k cash less than a year ago, and all they said was, "please give us a day or two advance notice, so we make sure to have the cash on hand". No paperwork, nothing.
Who can keep up with all the rules, regs and changes?
This was a CU, BTW.
I believe $10k in cash triggers a reporting requirement. They’ll also fill one out if it looks like you’re trying to avoid triggering the requirement by making multiple large transactions within a short period of time. I prefer to buy stuff for cash, so I know my name appears on many of these reports. I figure that after a while, the abnormal becomes normal and they won’t even pay attention... “Oh, that guy does that all the time.”
Couple of Wells Fargo stories:
They kept trying to engage me in “what are you planning to do” discussion as I’m walking out with large amounts of cash. I politely told the teller that I wasn’t going to answer any such questions. I then found the branch manager and told him that questions like that were really stupid and could expose the bank to potential liability and suspicion if someone suffered a burglary or mugging after visiting the bank. I have no idea how their system works, but I no longer get these kinds of chatty questions AT ALL. There is peace in the universe! :-)
The other disturbing experience I had was last fall when I went in for less than $20k in cash to buy a used SUV. I had been saving for the vehicle for quite some time and the money had been sitting there for months... seasoning wasn’t a concern. They didn’t have enough cash to satisfy my request. This was just a normal Friday at 2pm. Nothing special was going on in the world. This was a pretty big wake up call to me. I had to go to 3 different branches to get my money. I was pissed and told them I wanted to clean out all my accounts to leave a minimal balance in each. They said they needed a heads-up to have the cash on hand. I made an appointment the following Thursday. I went in at the predetermined time and they claimed they didn’t have the cash. I told them that if I walked out without it, I was going to sit in the parking lot and figure out who is the regulatory body for banks in Colorado and start making phone calls. They found the cash.
I can’t imagine what could happen if something crazy happened and a bunch of people wanted their money all at once. I’m also a bit concerned that we’re becoming increasingly reliant on electronic funds and records. What happens when North Korea figures out how to wipe out our banking records. How many of us can prove to our banks that we had $1086.56 in our checking account before Kim Jung Prepubescent wiped out the records?
Madeinhb
03-23-2018, 13:29
https://www.navyfederal.org/
For those of you who are veterans, Navy Federal Reserve Credit Union, now accepts veterans as members.
They only used to take active duty and retired personnel, but they changed that policy in February of 2017.
They have excellent interest rates on mortgages and cars.
personal loan interest rates are a bit high.
https://uploads.tapatalk-cdn.com/20180323/c61e47c0c501a609180e80b3f02bd59e.jpg
Sent from my iPhone using Tapatalk
This is who I bank with now. Also if you are family of military who has Navy Federal - you can sign up.
I love Navy Federal. They have a lot of locations nationwide, and worldwide (most all Naval bases). Even in Bahrain I was able to take care of (in person) some crap that came up. Plus they pay ATM fees, even at foreign ATMs.
Not a fan of Ent...several instances of poor service from them. Security Service and Air Academy FCUs gave me good service when I was with another regional CU, prior to joining NFCU.
That's the law. Any time they deal in $500 or more in cash they have to ask you what you do for a living because drug dealers are going to be honest and that way they can catch them. Eventually cash will be outlawed (and then we'll all do business based on the mark stamped on our hand or forehead).
Horsefeathers. The minimum amount of cash for any transaction that requires any reporting is $3000 under federal law (purchase of money orders). Several banks have established POLICIES that require their employees to ask stupid questyions, but it ain't the law. I deposit cash from my shop into my business account all the time (from hundreds to thousands at any one time), without ever identifying myself, or most times, even taking my motorcycle helmet off. Chase screwed themselves out of doing business with me because of their asinine policy, as they would not let my wife deposit $250 into our business checking account without ID, even though she was a signer on the account. Our other bank had no such policy.
kidicarus13
03-23-2018, 14:38
Couple of Wells Fargo stories:
They kept trying to engage me in “what are you planning to do” discussion as I’m walking out with large amounts of cash. I politely told the teller that I wasn’t going to answer any such questions. I then found the branch manager and told him that questions like that were really stupid and could expose the bank to potential liability and suspicion if someone suffered a burglary or mugging after visiting the bank. I have no idea how their system works, but I no longer get these kinds of chatty questions AT ALL. There is peace in the universe!
Everytime I go in to WF to withdrawal > $300 I get the 1000 questions routine. "What are you buying?" "What are your plans this weekend?" Etc. I'd rather stop at an ATM 5 times @$300ea rather than be interrogated over my $1500 withdrawal.
Ya, I know I don't look like I could possibly have $3000 in my account, but I do. And no, it's not your business to know what I'm doing with it.
How do I increase my ATM withdrawal limit?
Madeinhb
03-23-2018, 14:46
Everytime I go in to WF to withdrawal > $300 I get the 1000 questions routine. "What are you buying?" "What are your plans this weekend?" Etc. I'd rather stop at an ATM 5 times @$300ea rather than be interrogated over my $1500 withdrawal.
Ya, I know I don't look like I could possibly have $3000 in my account, but I do. And no, it's not your business to know what I'm doing with it.
How do I increase my ATM withdrawal limit?
I'd respond - it's none of your business how I spend my money. Why are you asking? I'm sure that would go over well haha
Criminal.
Your point? [Coffee]
https://www.navyfederal.org/
For those of you who are veterans, Navy Federal Reserve Credit Union, now accepts veterans as members.
[snip]
NEVER AGAIN
I think they have a letter from me sent in 1998 promising the same. They charged me monthly checking fees for nothing and ATM fees everywhere, because, well 1990s.
You know precious junior enlisted pay is? You know how much banking a junior Marine does? [LOL]
Most months I was lucky if I had enough left in my account to pay their monthly fee!
[snip]
I can’t imagine what could happen if something crazy happened and a bunch of people wanted their money all at once. I’m also a bit concerned that we’re becoming increasingly reliant on electronic funds and records. What happens when North Korea figures out how to wipe out our banking records. How many of us can prove to our banks that we had $1086.56 in our checking account before Kim Jung Prepubescent wiped out the records?
People have no idea how fragile their existence is if they depend on the banking system. Those are just numbers in a database and after the 2008 mark-to-market "fix" they likely don't even have assets to cover.
I have Wells too even though I hate them. I keep them for branch banking. I go in every 2-3 months and withdraw modest amounts of cash because I don't do ATMs. They've never asked me why I do this. Everyone is always polite and tries to sell me a shitty rate product (they sell CDs with higher rates to non-customers than their customers and can't explain it).
If chaos hits, people really should have a couple of months of cash on hand. Then maybe some tangible items for trade/barter. After that it's beans and bullets.
Cash deposit policies.
Because of few criminals, we law abiding citizens has to suffer.
https://www.bankrate.com/banking/checking/cant-deposit-cash-into-someone-elses-account-these-are-your-options/
https://www.sfchronicle.com/business/networth/article/Banks-change-deposit-policies-to-combat-6481441.php
Common Sense Gun Laws.
Because of few deranged individuals, we law abiding citizens has to suffer.
FIFY
Zundfolge
03-23-2018, 19:57
Horsefeathers. The minimum amount of cash for any transaction that requires any reporting is $3000 under federal law (purchase of money orders). Several banks have established POLICIES that require their employees to ask stupid questyions, but it ain't the law.
You're probably right but the bank is telling their employees that its the law so the girl behind the counter follows "the law".
Just like McDonald's tells their employees that it's the law to ask for fries?
Let's not get carried away here.
BPTactical
03-23-2018, 20:20
I'd respond - it's none of your business how I spend my money. Why are you asking? I'm sure that would go over well haha
Exactly correct. We have a vehicle through WF. If I am waiting in line and the "greeter" asks me what brings me in today I give them a stiff stare and reply "My personal business" and nothing more.
I can't believe the stupid shit other patrons say.
"Oh I'm withdrawing $10,000.00 to buy a car"
"I'm opening a savings account for my child with $5000.00"
Stupid, naïve people that have no comprehension of PERSEC.
I too told a branch manager that I did not appreciate the inquiries, my business is between the teller and myself and is nobody else's business. His reply was something to the effect of "Well I will gladly take that criticism, we are providing a friendly experience for our customers."
I told him that I wasn't there to be friendly, I am there to conduct my private business.
I guess everybody has to feel good about everything they do now.
Pussies
Honey Badger282.8
03-23-2018, 21:06
I worked at a bank for a while, I understand some questions can be odd but there is a reason to it. I was a phone rep and I couldn't tell you how many times potential elder abuse occurred, or the spouse or kids tried pulling one over on people. Most banks today will cover fraudulent charges, in order to provide this there has to be greater security to protect the banks (and customers) assets. We'd get the most pushback when people called to ask for an increase to some limit: be it withdrawal, purchase, deposit, etc. The larger the increase, the greater the level of scrutiny that was applied. The same would be applied to waiving or refunding fees.
ChadAmberg
03-23-2018, 21:20
Me depositing a big pile of cash...
"What do you do?"
"Gigolo. This is the day's deposit... Slow day so far."
CoGirl303
03-23-2018, 21:43
NEVER AGAIN
I think they have a letter from me sent in 1998 promising the same. They charged me monthly checking fees for nothing and ATM fees everywhere, because, well 1990s.
You know precious junior enlisted pay is? You know how much banking a junior Marine does? [LOL]
Most months I was lucky if I had enough left in my account to pay their monthly fee!
if you have direct deposit the checking acct is free now.
I pay no ATM fees as long as I use one in their network and there's plenty of them around. The only fee I have noticed is a $0.35 fee for international transactions which I only do one of those every three months so not a big deal to me.
So if that was the 90's that happened to you, I'd venture to say they changed some policies in the past 20+ years.
Have had absolutely zero issues with them.
You should give 'em another chance. Got my car loan interest down from 14% to 4.5% thanks to them.
My only complaint is they have one branch in the metro area and it's all the way in Aurora but I rarely need or use cash so I can deal with it when I have to run over there which is maybe two-three times a year tops. Supposedly a new Denver branch is in the works. They need one in Thornton and Highlands Ranch too.
They've been very good to me and I'm a very satisified veteran customer.
Sent from my iPhone using Tapatalk
Shooter45
03-23-2018, 22:10
Navy Fed was always really good to me while I was in as I was more than impressed. Still have an account with them that I haven't used in over 10 years but looking at transferring all of my business back to them out of ease of use. Banks don't offer what credit unions from my experience. Other than TCF who is open more days and hours for me.
If you're a member of a credit union, and all you need is cash, you don't even have to go to your credit union, just find another one in the network and go there.
if you have direct deposit the checking acct is free now.
I pay no ATM fees as long as I use one in their network and there's plenty of them around. The only fee I have noticed is a $0.35 fee for international transactions which I only do one of those every three months so not a big deal to me.
So if that was the 90's that happened to you, I'd venture to say they changed some policies in the past 20+ years.
Have had absolutely zero issues with them.
You should give 'em another chance. Got my car loan interest down from 14% to 4.5% thanks to them.
My only complaint is they have one branch in the metro area and it's all the way in Aurora but I rarely need or use cash so I can deal with it when I have to run over there which is maybe two-three times a year tops. Supposedly a new Denver branch is in the works. They need one in Thornton and Highlands Ranch too.
They've been very good to me and I'm a very satisified veteran customer.
Sent from my iPhone using Tapatalk
My USAA is free. I started with savings about 10 yrs ago, then got checking.
I now have 2x checking, 1x saving, 1x CC, homeowners and auto insurance, and previously had an auto loan through them.
My ATM fees are refunded, up to (I think) 4 transactions per month.
I just refund the fees to my savings.
Never been happier when it comes to banks.
GilpinGuy
03-23-2018, 23:40
If you're a member of a credit union, and all you need is cash, you don't even have to go to your credit union, just find another one in the network and go there.
We do this often because our CU closed the local branch up here and the only other one isn't real close. We make deposits the same way. I've deposited/withdrawn fairly large amounts without these annoying questions too. Must really depend on your bank.
I know there are some things you can't do at a network credit union that isn't your own, but I couldn't say what. I just remember being at a Public Service credit union while some joker was giving lip to all the bank tellers (credit union tellers?) because he couldn't do something like close an account or something dumb.
Went and deposited a sizeable amount of cash in the drive through yesterday, on a motorcycle. I was asked 3 questions: Hi, how are you today? Just the deposit and change order?, and Is there anything else we can do for you today?
Never removed my sunglasses...
[ROFL1]
Aloha_Shooter
03-24-2018, 18:49
One could have all kinds of fun answers for crap like this...
https://www.youtube.com/watch?v=tl4VD8uvgec
OtterbatHellcat
03-24-2018, 19:33
Good show...lots of one liners in that.
I will be dumping the carb that I have held for 15 years due to this crap. Same goes with the Best Buy no interest deal. Never again. Time to start playing the same game the Anti’s do. Even trying to dump King Supers but the click list the wife is in love with... It Weill happen, just need to do the shopping myself.
Great-Kazoo
03-24-2018, 21:34
Good show...lots of one liners in that.
The Jig is UP
AND GONE!
OtterbatHellcat
03-24-2018, 21:43
Madeline Kahn.....
"Do I have any openings this man might fit?"
:D
Closed my card today. I made sure to explain why.
JohnnyEgo
04-19-2018, 12:40
I've been a member of NFCU since the 70s, and I love it. I don't recall them ever charging me any checking fees. I do recall them requiring me to keep a $5 account balance, which I will concede was challenging at times as a junior enlisted in the mid 90s. They have been great to deal with, particularly when I have lived in places that are hundreds of miles away from an actual NFCU branch. At one time, they provided two vehicle loans and my student loans for me, and they still hold my VA Mortgage. So put me in the pro-NFCU column. Otherwise, fork Citibank.
Madeinhb
04-19-2018, 13:13
Closed my card today. I made sure to explain why.
And bet they didn't care.
And bet they didn't care.
not one bit.
Madeinhb
04-22-2018, 15:27
And bet they didn't care.
Nope. Not at all.
https://www.msn.com/en-us/money/companies/banks-thought-they-had-a-win-with-guns-now-theyve-got-a-big-gop-headache/ar-AAwJoEF?ocid=mailsignout
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