Don't let cash be killed

[mc2fool]

I'm aware of the theory, but you haven't answered my question.

According to the post on MSE, Chase Bank sent the customer a message asking for proof of entitlement (I do not remember whether they froze the account at that stage). The bank was satisfied with the receipts for the tickets. I expect that the money transferred into the account was twice the price paid for the tickets.

Can you provide a link please? Google turns up a couple* of Chase proof of entitlement posts on MSE but neither are about tickets (of any kind).

( * https://forums.moneysavingexpert.com/di ... ntitlement & https://forums.moneysavingexpert.com/di ... chase-bank)

[GeoffF100]

Here it is:

https://forums.moneysavingexpert.com/di ... t_80297987

He says he was locked out of his account. Of course, we do not know whether posts like this are fact or fiction, or whether the whole truth is being told. Nonetheless, there are frequent posts like this about a variety of banks. It has been commented that they seem to be more frequent with the new banks, who are keen to impress the FCA with their thoroughness. All their customers are new customers too, of course.

If you get payments from lots of other people's accounts, the bank may suspect that a personal account is being used as a business account, which they do not allow.

[didds]

I have nothing but scorn for these smug people who hold me up in a queue while they fiddle with their phones.

V8

These are the same people though that would be fiddling with their wallet/purse which they have left at the bottom of the large shopping bag now full of a lot of shopping.

its about them not being prepared for the paying, whatever the means of payment. Not because they use a digital payment method. They'd be equally as painful if they were using cash.

And then they get the pile of 148 tokens that the till operator then has to go though one by one to check validity and enter into the till individually .

joy.


Here's a blog piece I wrote about it...
https://almost-middle-aged-musings.blog ... m/2016/04/


didds

[didds]

According to the post on MSE, Chase Bank sent the customer a message asking for proof of entitlement (I do not remember whether they froze the account at that stage). The bank was satisfied with the receipts for the tickets..

unless these were for Celine Dion concerts, or The Boss ... Im amazed a bank is actually that bothered to check what is possibly under a couple of hundred quid.

Even several Boss tickets would be under 2K, the sort of amount a clapped out car sale might get .

??

[didds]

The only problem I have had trying to deposit money into somebody else's account is when doing that in cash, which banks no longer allow..

Really?

So If I sell a few household irtems that come to £150 I cant deposit that in my bank a/c ?

I HAVE to find something spend £150 cash on - and lose my CC cashback as a result plus whatever % interest in my savings account where that depsoit could then be transferred??

(yes I know the interest in £150 will be minimal!)

[mc2fool]

The only problem I have had trying to deposit money into somebody else's account is when doing that in cash, which banks no longer allow..

Really?

So If I sell a few household irtems that come to £150 I cant deposit that in my bank a/c ?

Yes, you can into yours, but you can't deposit it into Lootman's bank a/c.

[didds]

ah - apologies ... I had indeed missed that nuance!

[Lootman]

ah - apologies ... I had indeed missed that nuance!

Yes, I used to occasionally deposit cash into my sons' bank accounts. Then at some point was told I could no longer do that.

However I do worry that at some point banks will tell me I cannot deposit cash into my own account, on the grounds that I could never prove where it came from!

My bank also asks me my intentions if I withdraw a larger amount, say £500 or more. To protect me, they would no doubt claim. I make something up.

[Charlottesquare]

ah - apologies ... I had indeed missed that nuance!

Yes, I used to occasionally deposit cash into my sons' bank accounts. Then at some point was told I could no longer do that.

However I do worry that at some point banks will tell me I cannot deposit cash into my own account, on the grounds that I could never prove where it came from!

My bank also asks me my intentions if I withdraw a larger amount, say £500 or more. To protect me, they would no doubt claim. I make something up.

I have had this.

When we had our account in Sweden my branch of Bank of Scotland in Edinburgh were struggling to make a transfer (despite doing it before), eventually I gave up. I went onto the ferry to Sweden (back then there was one), changed about £4,000 to SEK at the bureau de change onboard, and tried to deposit the funds in my account at my Swedish bank. They were reluctant to take until I finally showed them the receipt for the funds received on the ferry at which point they relented.

[stevensfo]

ah - apologies ... I had indeed missed that nuance!

Yes, I used to occasionally deposit cash into my sons' bank accounts. Then at some point was told I could no longer do that.

However I do worry that at some point banks will tell me I cannot deposit cash into my own account, on the grounds that I could never prove where it came from!

My bank also asks me my intentions if I withdraw a larger amount, say £500 or more. To protect me, they would no doubt claim. I make something up.

Are you sure? The limit for cash withdrawals before a possible investigation is £5000. If it's gone down to 500, then God help us!!


Steve

[swill453]

My bank also asks me my intentions if I withdraw a larger amount, say £500 or more. To protect me, they would no doubt claim. I make something up.

My bank lets me withdraw £500 per day from an ATM. The ATM doesn't ask me my intentions!

Scott.

[Lootman]

My bank also asks me my intentions if I withdraw a larger amount, say £500 or more. To protect me, they would no doubt claim. I make something up.

My bank lets me withdraw £500 per day from an ATM. The ATM doesn't ask me my intentions!

Yes but then I cannot choose my denominations. I do not want £500 in tens.

And of course the ATM could also demand authorisation, as when I self check out of a supermarket with booze.

[GeoffF100]

My bank also asks me my intentions if I withdraw a larger amount, say £500 or more. To protect me, they would no doubt claim. I make something up.

I understand that "women of ill repute" is a reason commonly given.

[Lootman]

My bank also asks me my intentions if I withdraw a larger amount, say £500 or more. To protect me, they would no doubt claim. I make something up.

I understand that "women of ill repute" is a reason commonly given.

I will of course naturally defer to you on the subject of which payment options streetwalkers typically offer.

Personally I usually answer that question with "celebration" or some such.

[stevensfo]

My bank lets me withdraw £500 per day from an ATM. The ATM doesn't ask me my intentions!

Yes but then I cannot choose my denominations. I do not want £500 in tens.

And of course the ATM could also demand authorisation, as when I self check out of a supermarket with booze.

Are there not ATMs that let you choose?

Our local Sainsbury has had the number of ATMs outside cut from three to one. There is always a queue.

Usually I get a mixture of 20s and 10s, but last time I withdrew a largish sum and I got everything in 10s! Not happy!


Steve

[Lootman]

Yes but then I cannot choose my denominations. I do not want £500 in tens.

And of course the ATM could also demand authorisation, as when I self check out of a supermarket with booze.

Are there not ATMs that let you choose?

Some do. Most do not. It varies by bank and location. At my local HSBC branch the ATM inside the branch would give me £500 in tens, which is annoying. The ATM outside in the wall gives me twenties.

I think I have had £50 notes from an ATM but rarely. If I go to the counter I can get a mix including £50 and £5 notes, which is ideal for most purposes.

[mutantpoodle]

quote
And of course the ATM could also demand authorisation, as when I self check out of a supermarket with booze.[/

at the supermarket if authorisation refused you walk away

at the ATM its got your card !!

[77ss]

.....

PS I know I've said it before, but (hand on heart) I have NEVER seen a pub, restaurant or shop that says 'card only'.

PPS Though that's in Cambridgeshire. I guess for Londoners, that's 'somewhere foreign'.

Well, my first experience of a pub that only accepted card was in Cambridge - and I go to London more often than to Cambridge.

[stevensfo]

.....

PS I know I've said it before, but (hand on heart) I have NEVER seen a pub, restaurant or shop that says 'card only'.

PPS Though that's in Cambridgeshire. I guess for Londoners, that's 'somewhere foreign'.

Well, my first experience of a pub that only accepted card was in Cambridge - and I go to London more often than to Cambridge.

I haven't been into Cambridge for well over ten years. When I was much younger, I practically lived in the book shops there.

Further into the countryside, you'll find that everyone accepts cash.

A bit further still, and we're still at the barter stage. So sad to see a grown man giving their daughter away for a pint of Abbot ale!

Steve