As Vizzini would say, "Inconceivable".

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egnald

egnald

Member
Joined
Jun 9, 2017
Messages
3,676
Location
Columbus, Nebraska, USA
A week or so ago there was a thread about businesses that are going cashless. Today I was simply astonished. My daughter went to her bank today to deposit some money. She was informed by the bank that they no longer accepted cash and that she would have to go somewhere and buy a money order to deposit to her account. A bank that has gone cashless -- Inconceivable.

Dave
 
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& our bank puts a 7 day hold on money orders, even from the bank next door, due to extremely high fraud rate AND tge money order cannot be electronically deposited. Must be presented to a teller. I'm guessing the same bank doen't cash checks?
 
So one has to go to a grocery store or pharmacy, buy a money order to deposit money in one's own bank. The pinnacle of stupidity. As said, change banks. When I moved to Tennessee in the mid 60s, a lot of the old timers would buy groceries, cash their payroll check to pay for groceries and take the change. They made the rounds Friday afternoon to pay bills. Anything left over was a bonus! Very few had checking accounts. Keep in mind this was a small town and everyone knew everyone or were related in some way.
Our bank used to let you run loose change through a machine, get a receipt which could be deposited or taken as hard cash. Last I heard, they charge 3% at the machine! You get 97% of what you run through it. Run by the IRS?
 
egnald said:
A week or so ago there was a thread about businesses that are going cashless. Today I was simply astonished. My daughter went to her bank today to deposit some money. She was informed by the bank that they no longer accepted cash and that she would have to go somewhere and buy a money order to deposit to her account. A bank that has gone cashless -- Inconceivable.

Dave
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Is it a local, regional, or nationwide bank? If not local, please share the bank name so we can avoid If you don't mind.
 
The name of the bank is Union Bank and Trust of Lincoln, NE. It is a privately owned bank. It might be just this one satellite location here in Columbus. They have a pretty strong presence at the University of Nebraska down in Lincoln. I just think it's even strange for a small satellite to be cashless. - Dave
 
I remember going to my Wells Fargo branch in Texas and being told that if I wanted to get more than $3000 out of my account I needed to notify them at least 24 hours in advance and they would let me know when I could come get it. They would then require me to fill out a form which asked why I wanted the cash. Crazy.

Went to my Liberty Federal Credit Union here in Indiana and asked the teller how much cash I could get at one time. She said however much I wanted. I told her $10,000 and she said no problem, counted it out and put it in an envelop.
 
If a bank told me that, I'd immediately close all my accounts and find another bank. I think cash is making a comeback, and as concerns about CBDC grow, that comeback will probably only gain steam. Banks that refuse to deal in the OFFICIAL LEGAL TENDER of the United States are insane, and their customers should vote with their pocketbooks. I haven't been a cash user for a long time, but, I am starting to use it more and more these days. There is just too darned much tracking of anything and everything electronic...
 
Woodchipper said:
Our bank used to let you run loose change through a machine, get a receipt which could be deposited or taken as hard cash. Last I heard, they charge 3% at the machine! You get 97% of what you run through it. Run by the IRS?
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The Coinstar machines charge you 18%
PS. the local Credit Union where I bank, has a coin machine in the lobby. Insert your account card, and start dumping change in it. They count the exact value, no fee. Last time I went, my LARGE, HUGE coin jar was so heavy I could barely carry it. Got close to $200 and I apologized to the people in the lobby. That machine is LOUD!
 
maxwell_smart007 said:
Does that bank not have ATMs? A bank without cash sounds like an online bank - but with tellers...somewhat defeats the purpose!
That being said, I can't remember the last time I paid in cash for anything.
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Many of the "so-called" banks these days (especially the on-line banks) ARE NOT BANKS!
They are not insured by FDIC. That means to you that if the "bank" goes under, your money is GONE!

FDIC was created in the aftermath of the great depression. People lost their life savings when banks closed. During that time, the farmers in PA could not get loans so many small communities created their own banks. These small banks were well-run and solvent. They are now being gobbled up by the larger banks with likely results. I still own stock inherited from my grandparents in a bank like that. If you want some-one grounded in reality, a farmer is your best bet!
 
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randyrls said:
The Coinstar machines charge you 18%
PS. the local Credit Union where I bank, has a coin machine in the lobby. Insert your account card, and start dumping change in it. They count the exact value, no fee. Last time I went, my LARGE, HUGE coin jar was so heavy I could barely carry it. Got close to $200 and I apologized to the people in the lobby. That machine is LOUD!
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Never go inside but use the drive-through for transactions.
Trivia: a fellow used to pay with cash and save the change. Over the course of a year, he had enough to pay his taxes.
 
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