Quote:
Originally Posted by pylon
You may be OK with the intrusion of privacy, many people are not. It's not as much having an issue with the bank asking. However, you should also be free to decline answering, and still get your money that's where my issue is.
"What is this money for"
"I am buying Steam gift Cards for a guy name Frank Robertson that lives in Mumbai because aliens hacked the radio in my Hyundai and he needs the money to un hack it."
"Ok sir, are you familiar with online scams?"
You did your due diligence, saved the day, and the system worked in that scenario. But there comes a point where you've done your due diligence as a bank to make sure things are on the level, and you back off. And that line is "No thanks, none of your business, it's a private matter..." etc etc etc." There are thousand reasons someone may not want to answer, and just as many reasons the bank doesn't need to or have a right to know. It's a principal issue for me.
Sometimes people just have to be allowed to make dumb decisions without supervision, or intervention.
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The issue here was phrasing and wording in my opinion. "What are you buying with this cash" is concerning for them to ask. Asking if your comfortable dealing with cash, aware of any potential fraud occurring and that the bank has other payment options is a different matter.
I was a long time bank employee and I was never taught about asking what people were doing with their cash/bank drafts and more. That is an invasion of privacy.
These days a lot of people don't even see cash let alone deal with it. The bank asking you exactly what you are doing is out of line and not rationale behavior, perhaps it was employee specific.
Usually banks would let a client know that $8k withdraws may need some advanced notice in the future to ensure they have sufficient cash on hand to meet demand for you and for all the other clients.
Regardless, keep dealing in cash, it has a different affect on people when it comes to purchases. People get excited when there is cash in front of them and are willing to not lose a sale.