B.o.a.

[JacobsMommy11002]

Can a non bank of america customer cash a check drawn on an account their? My husband just sold something, and we belong to a credit union...we would like to cash the check at the bank it is drawn on to ensure that its not rubber...haha

 

[cglaura]

Yes, I did this all the time w/ my child support. You have to go into the branch though, the drive thru is for b.o.a. customers only.

You'll need to show photo i.d. and if it is over a certain amount (not really sure what, but in the thousands...) I think you may need to give info for tax purposes.

(At least in NJ those rules apply...)

ETA: Ex's b.o.a. checks were from a branch in different state, so that shouldn't matter, if same branch probably even easier.

 

[DevilDuckie]

Can a non bank of america customer cash a check drawn on an account their? My husband just sold something, and we belong to a credit union...we would like to cash the check at the bank it is drawn on to ensure that its not rubber...haha

When I went in to cash a paycheck once, there was a $5 fee. Fortunately, my BofA Platinum card not only got the fee waived it got me the personal attention of the manager. A credit card counts as an account.

 

[*KeepMovingForward*]

I know when I've gone to cash a check there (since I have no account with them), I have to give them my fingerprint. I always feel like a criminal having to do that.

 

[dsanner106]

you can do this, there is a fee of some sort though. They will check the account to see if that check will clear for free and then you can deposit, or your credit union can call on it and have the funds held for the check to clear.
Drew

 

[mamalle]

most banks are charging a fee between $5-$10. you do have to go inside also to cash it and be fingerprinted..

 

[Piecey]

You'll need to show photo i.d. and if it is over a certain amount (not really sure what, but in the thousands...) I think you may need to give info for tax purposes.

(At least in NJ those rules apply...)

A CTR - Cash Transaction Report- must be filed for any cash transaction (check cashed, deposit, etc) over 10,000. Not a $10,000 check but a $10,000.01 check- YES. If you throw a fit at having this report filed (depending on the banks system, they can be irritating to fill out) they will have to file a SAR- Suspicious Activity Report. Both get the government looking at you, both are required by the government or the bank will be fined. If we fail to file a SAR we can get a heavy, heavy, heavy penalty if the person is later found to be commiting a crime and we didn't 'catch' it.

 

[coolbeans]

A CTR - Cash Transaction Report- must be filed for any cash transaction (check cashed, deposit, etc) over 10,000. Not a $10,000 check but a $10,000.01 check- YES.

As a bank employee, we aren't supposed to give out this info....although I'm sure it's public knowledge somewhere. Like if someone asks us in the bank what the limits are we aren't supposed to answer.

 

[Piecey]

As a bank employee, we aren't supposed to give out this info....although I'm sure it's public knowledge somewhere. Like if someone asks us in the bank what the limits are we aren't supposed to answer.

I've worked for two different banks in the past three years and we both tell them the limits. If they try to change the amount, we fill out the SAR. Much worse than a CTR.

It's public information and can be found anywhere. It's also in Rules and Regs for bank customers.

Why would you not answer?

 

[tammy1210]

Our BOA doesn't charge a fee as long as the check if it's from their own bank - of course, you can use the drive-through, too - customer or not - I guess it all depends on where you're at!

 

[mamalle]

that is nice. wachovia and national city charge for this. I actually went into wachovia to cash one of my checks from a employer since I wanted to divide into our some of our bank accounts since they are different banks and she wanted to charge me $5.00. I said no and walked across the street to one of my banks deposited it and then the next day had to do a withdrawl to put some of it into our other bank account. It was a pain but Im not paying them to cash a check from their own bank

 

[coolbeans]

I've worked for two different banks in the past three years and we both tell them the limits. If they try to change the amount, we fill out the SAR. Much worse than a CTR.

It's public information and can be found anywhere. It's also in Rules and Regs for bank customers.

Why would you not answer?

giving them the limits gives them the info on how to structure their deposits, to avoid the CTR. we have always been told not to answer.

 

[bigolive9]

giving them the limits gives them the info on how to structure their deposits, to avoid the CTR. we have always been told not to answer.

We were always told that you could tell them as general info, but if they were structuring, then you would fill out a SAR, which we were never supposed to tell them we were filling out.

We did have a buy here, pay here car lot that was structuring their deposits- our fraud department contacted them and threatened to close their account, so they stopped.

Many banks do charge to cash checks drawn on their bank if the presenter is not an account holder. My old branch manager told us that it is not in the rules and regulations of the banking industry to cash checks- banks are required to pay them to other banks, but there was no rule that said we had to cash checks for anyone. Therefore, he said, it was a service that banks can (and do) charge a fee for. I don't know if that is accurate, but that would make sense. That said, we didn't charge if it was less than $50, and we didn't charge for minors to cash their checks. The credit union I was at after that would charge account holders to cash any check if they didn't have $100 in any of their accounts (checking, savings or loan balances), but we didn't charge non-members to cash checks drawn off of us. That was really weird to me.