Who's still riding? Fall & Winter 2022 (& 2023!) edition! | Page 35 | GTAMotorcycle.com

Who's still riding? Fall & Winter 2022 (& 2023!) edition!

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timtune said:
So what's the deal with the tellers asking me if I mind telling them what it's for? Are they required to ask after you reach a certain threshold? It seams like none of their effing business. I told her I did mind and if she needed to write down something put beer and pizza.
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Probably more to do with data capture then anything else. I always give a bogus answer to play with them.
 
My late wife was a bank manager. Many years ago two guys came into her branch with two shopping bags full of cash that reeked of smoke. Red flag! Cops were called. They left in handcuffs.
 
sburns said:
Probably more to do with data capture then anything else. I always give a bogus answer to play with them.
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That's a bit like joking about a bomb at airport security. Lol.
 
I mean would be possible to buy 16K worth of beer and pizza......
 
timtune said:
My read was when they recieve cash (incoming) . I didn't see anything about outgoing cash.
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I updated my post after re-reading the fintrac document. It seems to be designed to avoid illicit cash making it into the legitimate system. Nobody cares about cash going out of the legitimate system.
 
sburns said:
Probably more to do with data capture then anything else. I always give a bogus answer to play with them.
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Home repairs/renovation is generic and can justify almost any size withdrawal as renovations are expensive.
 
Back down to the bank in the snow/rain (it can't decide).
 
timtune said:
do not get me started on the effing banks. "sorry sir we don't have that much (less than 20K) cash on hand it will be four days, would you like a bank draft? It's $10" "so the only way I can get my money out today is to pay for it?" "Yes" )
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When we sold our 5th wheel a number of years ago the buyer wanted to pay cash - since I didn't really want to carry that much cash, and it was going partly against the outstanding lien anyways, I suggested we meet at the bank where the loan was drawn on, Scotia. I called ahead of time to inquire about being able to get a loan clearance letter while we waited and the person I was speaking with asked how much money I was talking - it was around $8K IIRC, a portion of which I'd be walking out with, the remainder going against the loan to clearl the lien.

The lady on the phone almost freaked out and said more or less "You really shouldn't come into the branch with that much money!", at which point I was all like...uh, are you not a bank? Do you not take cash?

It was at that point that I discovered banks don't actually seem to like cash anymore. But dude that was buying the trailer was oldschool and did cash, and only cash, so eventually we just showed up, but as we were counting it out with about 4 bank employees clustered around the wicket looking intently and whispering amongst themselves, I can't help but feel like we were doing something wrong.

Wingboy said:
My late wife was a bank manager. Many years ago two guys came into her branch with two shopping bags full of cash that reeked of smoke. Red flag! Cops were called. They left in handcuffs.
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Not the smartest criminals in the world, taking questionable cash to a bank.....
 
PrivatePilot said:
When we sold our 5th wheel a number of years ago the buyer wanted to pay cash - since I didn't really want to carry that much cash, and it was going partly against the outstanding lien anyways, I suggested we meet at the bank where the loan was drawn on, Scotia. I called ahead of time to inquire about being able to get a loan clearance letter while we waited and the person I was speaking with asked how much money I was talking - it was around $8K IIRC, a portion of which I'd be walking out with, the remainder going against the loan to clearl the lien.

The lady on the phone almost freaked out and said more or less "You really shouldn't come into the branch with that much money!", at which point I was all like...uh, are you not a bank? Do you not take cash?

It was at that point that I discovered banks don't actually seem to like cash anymore. But dude that was buying the trailer was oldschool and did cash, and only cash, so eventually we just showed up, but as we were counting it out with about 4 bank employees clustered around the wicket looking intently and whispering amongst themselves, I can't help but feel like we were doing something wrong.



Not the smartest criminals in the world, taking questionable cash to a bank.....
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ask me how TD reacted when i asked for a bankdraft for the Ducati. lawd.
 
Mad Mike said:
Retail branches will have a lot more than $20K in cash on hand. In rare situations a branch could have a run on cash, so they protect their reserves somewhat. If they run out, they have a lot of explaining to do, so most tellers are conditioned to tell you $2-$5K is available. It's a big deal for a bank manager if the branch runs out of cash - lots of reports and the explaining goes right up the chain.

If you need a lot of cash, order it from the branch 2 days prior. If the bank doesn't have $20K cash on hand, or can't fill your order in 48 hours, ask them to waive the fee on a bank draft (I've never seen a bank refuse).

Another option is Interac. Call the number on the back of your bank card, ask them to raise your e-transfer limit to $10K If you have a joint acct holder, get them to do the same and you have access to $20K Interac/day. The max is $10K/24 hr period to a max of $30K over a 30 day rolling period. Some banks and CUs might more restrictive based on the account holder's behaviour or the bank's own controls..
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I was told in 2022 by a bank manager buying something from me that the 10k Interac limit wasn't offered by most banks now and they'll only raise it to ~$4k-ish now.
I had mine upped to the $10k in 2017 and it's come in very handy. I agree to get it done if they'll still allow it.
 
Evoex said:
ask me how TD reacted when i asked for a bankdraft for the Ducati. lawd.
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Bank drafts, I've never had an issue with. I bought our second Volt on our line of credit and they gave me a $24K bank draft like I had asked for $20. Same with my bike 4 years ago, my wife's spyder, our insurance replacement camper last summer, etc.
 
timtune said:
I thought maybe the gov mandates they at least ask as part of drug / money laundering and such.
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Back in November I had to take 7k in cash for some work.
BMO branch manager who was covering the teller's shift at the time started getting nosey.

She: "Sorry, I dont mean to pry but if you dont mind my asking - what do you need the money for?"

Me: I was like..da fq?..responded: oh I just need to this for some work.

She: "Is everything ok? you look stressed"

Me: I was starting to get ****** off, but I needed the money at the time lol - fake smiled whatever I could muster and made up some BS excuse.

I'm with Tim on this...but I do understand their point of view based on what Wingboy stated.



Based on what I've seen, Real Estate agents have to attest that the money they deal with hasn't been funded by terrorism. Atleast that has been my experience as a client so far.
 
PrivatePilot said:
Bank drafts, I've never had an issue with. I bought our second Volt on our line of credit and they gave me a $24K bank draft like I had asked for $20. Same with my bike 4 years ago, my wife's spyder, our insurance replacement camper last summer, etc.
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They offered me a bank draft. I pay them to hold my money but I'll be damned if I pay them to give it back to me.
 
PrivatePilot said:
Bank drafts, I've never had an issue with. I bought our second Volt on our line of credit and they gave me a $24K bank draft like I had asked for $20. Same with my bike 4 years ago, my wife's spyder, our insurance replacement camper last summer, etc.
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they were really interested in playing 20 questions, i even had to pony up a second photo ID and they asked me for a signature sample; DL, bank card with my name on it and the PIN were apparently not sufficient. i got a little fed up and they waived the fee.
 
Evoex said:
they were really interested in playing 20 questions, i even had to pony up a second photo ID and they asked me for a signature sample; DL, bank card with my name on it and the PIN were apparently not sufficient. i got a little fed up and they waived the fee.
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They waived the fee on my last one as well as first off they couldn't find any drafts, and then they dug one up somewhere, and then the teller proceeded to bork up the payee description despite me literally handing them a piece of paper with the payees name written on it. Then they had to go into the vault to get a new rheem of drafts I guess, which triggered a whole procedure and paperwork, blah blah.

40 minutes after I walked in the door they were "very sorry" and waived the fee. Gee, thanks TD.
 
Evoex said:
they were really interested in playing 20 questions, i even had to pony up a second photo ID and they asked me for a signature sample; DL, bank card with my name on it and the PIN were apparently not sufficient. i got a little fed up and they waived the fee.
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Im surprised they didnt ask you to reauthenticate and have a pin sent to your cell phone on top of all of that lol.
 
What a thread derail, who is still riding these days?
 
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