Posts by wiredlynx28

Look, if you guys aren't happy with the terms at your current bank—just like wiredlynx28 mentioned—there are plenty of other banks out there.

Not necessarily, but if a bank like Chase considers a specific piece of information a "must-have," they simply won't open an account or maintain a relationship with a client who refuses to provide it. They'll just close or freeze accounts—either because the government mandates it or because it's just their own internal policy.
The truth is, they ask for these details to get a better profile of the client and to beef up their relationship through tailored product offerings. For example, if someone has children, it’s reasonable to assume they’ll need more liquidity, so banks might offer pre-approved higher credit limits or other services based on those specific life stages and financial capacity. Otherwise, quite frankly, the bank couldn't care less how many kids someone has.

briskjackal5 said:I mean, Chase basically got hit with a massive fine because they apparently don't even know how many kids you have 😁

-briskjackal5

That’s because those specific metrics are what that particular bank tracks—it doesn't mean every other institution operates the same way.
It's like how one bank might limit your overdraft to a single paycheck, while another might let you go three or five times depending on their own internal math.👍

@ Steven Rivera76

Go ahead and email the bank—in this case, Zábank—to ask exactly which pieces of information are mandatory. Once you hear back, feel free to drop the answer here. 👍

Look, obviously other banks offer solutions; they promise clients the moon and stars during a "transition period." But people always forget one thing: major players like Zábank, Chase, or Wells Fargo allow for much higher debt ceilings. Other banks might only permit up to three paychecks, or even just one, depending on the current economic climate (which factors in everything from account overdrafts to credit card balances and revolving lines). Someone who, say, had a mortgage, personal loans, Amex, Mastercard, an overdraft, and a line of credit at their current bank will likely only be offered a personal loan and maybe some overdraft protection at the new bank—and honestly, given those clients' salary levels, I highly doubt that'll even happen.
Then, after a short while, those exact same clients come crawling back saying they want everything exactly how it was before. At that point, Rolf is out. 🤣

neondriver5
You hit the nail on the head. Plus, the loudest complainers are always the ones already underwater—think of them like those folks in Greece—claiming they’ll just jump ship to another bank. They conveniently forget they have to settle their current debts at 🤣
first.

Jeremy Reyes4 said:Ever since she joined this forum, she’s just been dropping one pile of misinformation after another.

Willie, be a gentleman and tell me exactly what official evidence supports your claim. I'm not just speaking because I want to be right; I'm speaking from direct experience.👍

Unfortunately, the American mindset is built this way, and I completely agree with everything James Rogers53 is saying. People who cause a scene in a branch and then act shocked when security escorts them out and calls the cops are the exact type of people who blame external factors—like low wages or being broke—for their own behavior.
And those claiming banks are untouchable? Regardless of what rowdypilot19 is saying, you can bet foreign banks aren't exactly lining up to court clients coming in with tiny American paychecks and a few measly bucks in savings.🤣
At the end of the day, just as you can switch banks, you can choose a different state if you think things work better elsewhere. In the US, the market is free.

bluecyclist64 said:Oh, you definitely work for Chase. It’s incredibly obvious if you bother to read through your own posts.

Now, go jump in a lake. I've already earned my PhD in dealing with paid trolls.

Fine, I'm with Chase, if that makes you feel better. 👍

@ bluecyclist64

I don't work at Chase, but a colleague of mine transferred there, and since I know the branch manager, I have firsthand insight.👍
You claim I'm lying? Fine. Go ahead—state exactly what you think I'm lying about and back it up with actual facts instead of just your own opinion.

And no, I wasn't looking for a better offer from the Federal Reserve, which is gradually pulling out of the American market due to poor performance. I was looking for something else entirely: a one-time deal without any strings attached.👍
If you're happy with your current bank, more power to you.

One more thing: any inappropriate behavior within the bank premises will be reported to the authorities. Just like any apartment building, a bank has its own set of house rules.😒

Steve, in my experience, once I checked in with my managers at Wells Fargo, things like professional qualifications and residency status were strictly mandatory requirements. If I weren't already in this industry, I would have thought they were optional 👍
Just because those specific questions were required there doesn't mean every other institution operates the same way.
They actually walked me through their system to show me exactly what was required versus what wasn't, so I highly doubt Chase wouldn't have similar mandates. Not everything handled internally by a bank is voluntary; some things are simply non-negotiable 👍
If these weren't mandatory, you can bet they wouldn't be sending out notices to clients or freezing accounts—that serves absolutely no one's interest.

Aside from FATCA requirements, banks have their own internal criteria regarding client data. This isn't even tied to federal law; it’s just a prerequisite if you want to establish or maintain a business relationship with them. This includes specific questions about how you intend to conduct your banking activities.
I had a similar experience at one bank. When I tried to open an additional account, they asked for things beyond FATCA—stuff about my education level, family details, and so on. They were very clear: without providing that information, they simply cannot establish a business relationship with me.
Maybe the people at Chase didn't explain themselves clearly, but I highly doubt they would go hunting for clients and cite regulations if it wasn't actually mandatory. After all, they have their own management teams and legal departments to answer to.
As for individuals who make a scene, psychology shows that this behavior usually comes from lower-level employees who are already frustrated by outside stressors.
If there's a conflict, just ask for the manager or the person in charge and resolve the disagreement professionally, provided you believe there is actually 👍
I know a client who went absolutely ballistic on his bank, making huge scenes over this exact issue. He kept closing accounts because he assumed other banks wouldn't require the same data. Once he realized he was wrong, he tried to come back, but they refused to reopen his business relationship. Keep that in mind.
Regarding Wells Fargo, an acquaintance of mine recently had an account there, but he switched because he was unhappy. He specifically asked me why they hadn't requested certain data from him. I told him to show me the contract, and sure enough, they had filled out the information themselves without asking him anything. That is absolutely wrong and unacceptable, because the client is the one legally responsible for the accuracy of that data. However, given their ownership structure, I suspect you can't even get a job there without an internal referral 🤣 which isn't the case at Chase.

To be honest, I’m not entirely sure how their audit process works, but word is they scrutinize every single data point when justifying expenditures. If someone claims funds went to a specific individual, they cross-reference with that person, verify statements, and go through the whole drill.

And regarding the necessity of banks—let’s be real here. Do you honestly think Americans could maintain this lifestyle if we didn't have massive credit lines, stacks of credit cards, overdrafts, installment plans, mortgages, and auto leases?
Based on average incomes, I highly doubt it.
Maybe a few people could manage, like those of you who have significant savings and can live solely off your salary, but for over 90% of Americans? No way.

@ James Rogers53

I'm with you on this.

@ Arthur Long5

Maybe you were running transactions in the States back before the IRS had full visibility into transaction accounts. Most likely, your income matches up, whether it’s from a sale or something similar.

As for the rest—if I ever get flagged, I’m not just going to wing it and say it came from "this guy" or "that guy." You sign a formal declaration with all the specifics (full name, amount, etc.), and they vet everything thoroughly; it isn't just some casual verbal excuse. If any discrepancies are found, you face criminal charges depending on the nature of the violation.
In fact, I hear from clients almost every single day asking about verification, even for amounts as small as a few thousand dollars.

briskjackal5 said:Adeline mentioned they were asking her a ton of stuff on top of all that data.
I mean, things they don't even have a right to ask about, really.

The stuff you're bringing up... I don't think anyone here actually has an issue with it. I guess most people would be totally fine with those kinds of questions since the purpose behind them seems pretty justified, you know? 👍

-Steve

She said she didn't want to answer questions regarding, as she puts it, "that FATCA crap," but the actual questions I listed weren't even related to kids or anything extra like that.

briskjackal5 said:So, what exactly are these "exact same details" we're talking about?

Nobody has actually specified that here on the thread yet, and I highly doubt Adele was stressing out over things like her home address or her date of birth.

-briskjackal5

Political exposure, place of birth, US citizenship, and whether one is a tax resident in the US or some other foreign country.

Laura Chavez93 said:There is absolutely no point in wasting your breath at the FTC—I was just speaking with someone who handles those matters, and they confirmed it’s a total dead end... the real move is to head straight to your local bank branch, demand to see the manager, and tell them you're closing every single account and withdrawing everything you have immediately. If you have to make a bit of a scene to get things moving, then do it.

Making a scene won't help. Only the most unrefined customers resort to theatrics, and half of them can't even speak English properly to begin with.👍
The issue isn't that the staff or the manager are being difficult—that doesn't make any sense. It's simply that the system won't allow it if the data required by the Freedom of Information Act hasn't been entered.
If she thinks she's right, her best bet is to find a solid lawyer and file a private lawsuit. But realistically, they'll close those accounts regardless once the data is updated. Besides, she'll need that exact same information just to open a checking account at any other bank down the road.👍

Steve, because of the volatility, those numbers aren't exactly accurate 👍
The state wants its slice of the pie too.

Arthur Long5 said:I believe there is an unnecessary amount of panic being stirred up here, given that nobody is going to be scrutinized over a mere $20,000, though a single deposit of $200,000 from someone currently unemployed would likely trigger some attention...

Just consider how much capital Americans hold in their bank accounts—well over $24 billion—and it stands to reason that the IRS should be looking at existing account balances rather than focusing solely on incoming transfers.
If they did, imagine how many suspicious individuals they might actually uncover...

Furthermore, if the IRS were truly cracking down on people and seizing funds in such a manner, it would be headline news across every major media outlet, but since nothing of the sort is happening, you can rest easy...

Where are you getting your info that Americans hold over $22 billion in banks? 🤣
What you see in the news is nothing but speculation because that data is classified.
Half the population is struggling financially, so those numbers are nowhere near reality. As for the wealthy—and I don't mean someone with $100k or $300k, which is peanuts in banking terms—they don't keep their cash in standard banks because the taxation isn't worth it. That’s why offshore accounts are so popular for them, rather than domestic US banks.
One more thing, you didn't answer my previous question: do you work for the IRS or know someone on the inside? That's the only way you could say this with such certainty.
I don't know how things work in Canada, but the situation in America is different, which is why I'm asking. 👍
And like I said before, and like Timothy Davis3 mentioned, it's true that they don't care about amounts of $20k or less. It all comes down to the ratio of income to deposits and spending. Everything leaves a paper trail, so if the money was earned legally, everything is fine.

It’s not 105k dollars, it's 105k pesos 👍
Basically, any amount that doesn't line up with your paycheck gets flagged.
If someone is pulling in, say, 4 or 5k a month—which is pretty standard for an average American worker—but they're suddenly dropping huge sums on purchases that don't match that income, they're absolutely going to trigger an IRS audit or a probe into where that cash actually came from.
At the end of the day, if the money was earned legally, you won't have any problems.

Sleep apnea isn't just "loud snoring." It’s a physiological crisis happening while you sleep. Think of it like a temporary blockage in an engine's air intake—the system tries to run, gasps for oxygen, stalls, and then restarts. Repeat that hundreds of times a night, and your body stays in a constant state of fight-or-flight. It’s exhausting, it's dangerous, and it’s something you can't just "willpower" your way through. Get checked. kaže:
I’m curious about this too. What I was told at my bank is that they flag any deposit exceeding... $3333 You have to file with the IRS. Then, naturally, the IRS decides who they’re going to audit regarding their healthcare coverage.

It’s obvious. $3333 It’s nothing for someone with a steady paycheck, but if you’re living paycheck to paycheck, it might start looking suspicious.

Also, from what I've gathered—two colleagues of mine who work out of state recently bought new cars in cash. They actually went ahead and called their banks just to double-check that there wouldn't be any issues verifying the source of the funds. We're talking about amounts significantly lower than that $115,000 mark, too.

I don't know how the rumor mill is working these days, but I used to keep my cash stashed in a sock under the mattress—it’s a classic move for a reason.

Like I already mentioned, that $105k isn't tied to your other deposits. It’s just how things work—if it's a one-time lump sum, the bank is required to flag it.
On top of that, the IRS monitors every single transaction tied to an invoice, and they can come knocking on your door over any amount, no matter how small.

@ Arthur Long5

I’m asking because I have no idea where you're getting your data. Do you actually have a contact working at the IRS who can confirm this, or are you just guessing?
If we're talking about a $10k deposit, I am genuinely curious to know what your monthly income looks like. 🍿
If I knew for sure, I'd be able to say, but since I work in this industry, I'm speaking from direct experience. I know exactly what gets flagged and how they audit. I have clients where even deposits under $10k trigger a review based on their reported income.

If you have a non-resident account and aren't earning anything here in the States—or if the transfers hitting that account don't match your usual income—try making a few regular transfers of X amount. You'll see exactly how fast they react. 👍
That $15k threshold is an old rule from back before the IRS had full visibility into individual bank accounts; it's a completely different matter now.
For every transaction like that, the client signs a declaration regarding the source of funds, which then gets passed along for deep analysis. Beyond that, the government can call any citizen in for questioning over any suspicious deposit. As I mentioned, if something looks taxable, you're going to owe additional tax depending on where that money came from.
A $70k or $80k deposit will absolutely trigger an audit, regardless of when it happens or how much you earn.

@ Jeffrey Long

By the way, you aren't even allowed to keep cash in a bank safe.