Nosy banks

I’ve just been reading about how someone was interrogated by their bank regarding absolutely everything under the sun...

To be honest, this isn't the first time I've heard reports about banks becoming increasingly aggressive when it comes to harvesting client data. They seem interested in every little detail—the number of children you have, your spouse's income, accounts held at other institutions, overseas holdings, tax IDs both domestic and abroad, even real estate assets...

Has anyone else dealt with something similar?

What exactly are banks legally entitled to know, and where do they draw the line? One specific detail in this article really struck me: it sounds as though the client was practically coerced into handing over sensitive personal information to the bank....

They don't even ask me questions; they just keep offering me stuff every single time I log in...🙂

It’s not just banks being nosy; every single company out there wants a piece of your data. The only difference is they're much more subtle about it. I mean, what's even the point of having loyalty programs if they aren't just tracking every cent you spend? Not to mention how much info you can dig up on someone online these days.

Banks have a legal obligation to perform KYC—know your customer—and honestly, nobody’s arguing with that, provided they don't start digging into your private life.

(via Reddit)

The catch is they're just grabbing data under the guise of stopping money laundering and terrorism😍

So, does a client actually have a legal obligation to provide exact answers to questions? 🕺

man you ask everything—basically, they just told me the answer is by withdrawing a specific amount from the account 😍

I actually got hit with those exact same questions when I was closing out my account.
I’m telling the teller what I want, and she’s just like, "Okay, let's just fill out this questionnaire first," and starts firing off questions at me. Honestly, I totally thought the whole form was about why I was leaving, but nope—it was all stuff about my kids, who I live with, and all that personal nonsense... so I just cut her off right there and told her I wasn't about to spill all that just because I'm moving my money elsewhere. She tried to play it off, saying it's just standard procedure now and they have to ask everyone, but I wasn't having any of it, so she eventually just backed off. It was at Chase.

I really don't know if people who still plan on doing business with them can dodge the interrogation like I did.

Nobody ever asks me anything. I guess they already think they know everything. 😁

Just ask yourself how much personal information you're actually broadcasting on social media without a second thought. That is the real issue here, not what banks or other major institutions demand from you. At least those entities are legally obligated to protect your data. What you voluntarily dump onto the internet is essentially public property.

I once tried asking my personal banker something like that.
Pretty sure they won't ever ask me again... and neither will her colleagues who heard how I responded.

Kevin Cox said:So, does a client actually have a legal obligation to provide exact answers to questions? 🕺

Nah, you don't owe them a single thing.
You can even lie if you feel like it, just don't sign anything...

Jerry Williams53 said:I once tried asking my personal banker something like that.
Pretty sure they won't ever ask me again... and neither will her colleagues who heard how I responded.

Oh, please do spill the tea...🍿

They certainly won't mistake me for a terrorist... more likely a pregnant woman... much like an officer once did during a previous encounter. She was being kind, trying to let me skip the line as a courtesy because she assumed I was expecting... 😒 With a look of genuine surprise, I pointed out that I wasn't next in line, but the woman ahead of me was. Her response? "Go ahead, pregnant women get priority."
What a ridiculous situation...
Being my usual clumsy self, I could have easily taken advantage of the moment and used the "pregnancy" excuse to cut the line whenever I felt like it. But instead, I blurted out: "WELL, I'M NOT PREGNANT, HAHAHA..." 😵 Everyone burst into laughter, myself included. 🤣

Of course, if she had started grilling me for details... depending on my mood, if I were having a particularly rough day... I might have just taken off my shoe and given it to her to show the supervisor exactly what size sock I wear... ☕
But since I am generally a sophisticated person... I would simply tell her that while I respect her job, I am under no obligation to answer such questions and will cancel all services if the interrogation continues. She is more than welcome to call the police if she truly suspects I am a terrorist or something similar...

It’s absurd; people even fill out phone surveys voluntarily... they have no right to pry like this... -.-

They ask you questions, you just don't give 'em an answer—and honestly, that's probably for the best...

Jerry Williams53 said:I once tried asking my personal banker something like that.
Pretty sure they won't ever ask me again... and neither will her colleagues who heard how I responded.

You're quite the character🙄

Yeah...

If you’d dealt with the same crap I did—being stuck with those Swiss franc loans back in the day—you’d definitely get where I'm coming from...

I treat them like those high-end boutique girls who blow up my phone constantly. I get it. But mostly, I just mess with them...

They already know everything—they don't even need your questions or answers to figure out which credit score you’re carrying or if your accounts are in the red. They ask those questions just to see if you'll keep lying to them. And let's be honest: once someone starts lying, they start stealing. At that point, these companies will just find a way to screw you over and ensure you aren't some sucker paying off a loan religiously while they take advantage.