Nosy banks

Sam Ruiz60 said: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.

Forgot to mention that thieves are murderers too.
If that's how you say it, then I guess it's true...😵

Charles Ramos7 said: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.

Total nonsense. What exactly are they getting from loyalty cards? Consumer habits, what people buy, and which brands they like. That's it. They aren't collecting data on who’s married or what kind of pension someone's grandma is drawing. Banks, being as arrogant as they are, act like they own the place and that the rules don't apply to them—specifically GDPR. People, stop handing your personal info over to these banking suits. Stand up for your rights under the law, and if those arrogant institutions keep giving you grief, report them to the authorities where they belong....

At the end of the day, lending money is a bank's core business, and they take on the risk of default every single time they issue a loan. When they ask you questions, it isn't because they’re being nosy; it’s about building a solid risk profile. It’s just much more likely that someone with a steady, high income or someone buying a home they actually intend to live in will follow through on their payments...

According to some statistical studies, married individuals tend to be more financially responsible than single people, and things like that. Personally, I think it's better to just provide the information requested, especially since being transparent might actually help you land better terms down the road.

Plus, they are legally obligated to gather as much data as possible to prevent money laundering and terrorism financing. Honestly, that part always makes me chuckle—people looking to move illicit funds aren't exactly standing in line at a local Chase branch waiting for a teller to help them out. 😁

Your logic is a bit off here; banks aren't trying to be nosy, and they certainly aren't the Gestapo...😁

Chris Chase5 said:At the end of the day, lending money is a bank's core business, and they take on the risk of default every single time they issue a loan. When they ask you questions, it isn't because they’re being nosy; it’s about building a solid risk profile. It’s just much more likely that someone with a steady, high income or someone buying a home they actually intend to live in will follow through on their payments...

According to some statistical studies, married individuals tend to be more financially responsible than single people, and things like that. Personally, I think it's better to just provide the information requested, especially since being transparent might actually help you land better terms down the road.

Plus, they are legally obligated to gather as much data as possible to prevent money laundering and terrorism financing. Honestly, that part always makes me chuckle—people looking to move illicit funds aren't exactly standing in line at a local Chase branch waiting for a teller to help them out. 😁

Your logic is a bit off here; banks aren't trying to be nosy, and they certainly aren't the Gestapo...😁

Exactly. Banks are "just" arrogant.

And half the data they demand has absolutely nothing to do with assessing credit risk...

Chris Chase5 said:At the end of the day, lending money is a bank's core business, and they take on the risk of default every single time they issue a loan. When they ask you questions, it isn't because they’re being nosy; it’s about building a solid risk profile. It’s just much more likely that someone with a steady, high income or someone buying a home they actually intend to live in will follow through on their payments...

According to some statistical studies, married individuals tend to be more financially responsible than single people, and things like that. Personally, I think it's better to just provide the information requested, especially since being transparent might actually help you land better terms down the road.

Plus, they are legally obligated to gather as much data as possible to prevent money laundering and terrorism financing. Honestly, that part always makes me chuckle—people looking to move illicit funds aren't exactly standing in line at a local Chase branch waiting for a teller to help them out. 😁

Your logic is a bit off here; banks aren't trying to be nosy, and they certainly aren't the Gestapo...😁

The guy in the article was just trying to withdraw his own money from his account.

To answer the question from the original post—yes, I've dealt with something similar. For instance, I recently applied for a work permit for the USA. It had nothing to do with credit, since I don't have any loans or anything else that would make a bank hesitate to lend me money...

Brian Moore12 said:Total nonsense. What exactly are they getting from loyalty cards? Consumer habits, what people buy, and which brands they like. That's it. They aren't collecting data on who’s married or what kind of pension someone's grandma is drawing. Banks, being as arrogant as they are, act like they own the place and that the rules don't apply to them—specifically GDPR. People, stop handing your personal info over to these banking suits. Stand up for your rights under the law, and if those arrogant institutions keep giving you grief, report them to the authorities where they belong....

If a guy is buying feminine hygiene products, isn't that enough of a hint that he's in a relationship? Or if someone's picking up diapers, we know they have a kid. Hell, if they're buying adult diapers, we might figure out they're caring for an elderly relative. You can learn a lot more through purchase history than you ever would by answering a banker's questions, which you don't even have to answer truthfully anyway.

Charles Ramos7 said:If a guy is buying feminine hygiene products, isn't that enough of a hint that he's in a relationship? Or if someone's picking up diapers, we know they have a kid. Hell, if they're buying adult diapers, we might figure out they're caring for an elderly relative. You can learn a lot more through purchase history than you ever would by answering a banker's questions, which you don't even have to answer truthfully anyway.

And what if he's just a guy using his wife's card to buy pads for his buddy's mistress?
😂

Charles Ramos7 said:If a guy is buying feminine hygiene products, isn't that enough of a hint that he's in a relationship? Or if someone's picking up diapers, we know they have a kid. Hell, if they're buying adult diapers, we might figure out they're caring for an elderly relative. You can learn a lot more through purchase history than you ever would by answering a banker's questions, which you don't even have to answer truthfully anyway.

I mean, maybe he's just picking up pads for his sister. Or hey, maybe he heard they work great for cleaning up spills or soaking up odors... who knows!
Maybe he's got a sister and he's grabbing diapers for his niece since, ya know, his sister doesn't drive.
Or maybe he's helping out elderly neighbors and picking up those adult diapers for them.

Bottom line is, there's really no reason for the cashier to be interrogating anyone about it.

Brian Moore12 said:And what if he's just a guy using his wife's card to buy pads for his buddy's mistress?
😂

Honestly, it doesn't matter. All the store cares about is the data showing men buy pads, so they might as well put the shelf right next to the beer aisle.😁

Sarah Morris57 said:I mean, maybe he's just picking up pads for his sister. Or hey, maybe he heard they work great for cleaning up spills or soaking up odors... who knows!
Maybe he's got a sister and he's grabbing diapers for his niece since, ya know, his sister doesn't drive.
Or maybe he's helping out elderly neighbors and picking up those adult diapers for them.

Bottom line is, there's really no reason for the cashier to be interrogating anyone about it.

It's not that the cashier is questioning you; you're basically handing over that info voluntarily, and like I mentioned earlier, they just use it to try and upsell you.

So I was reading this article about some lady getting grilled at a service counter—and get this, I’m actually a clerk myself, so I totally get the vibe—but she said the cashier didn't even bother mentioning it was optional... instead, they just acted like it was some mandatory requirement!
It’s like, okay, fine, if you go to a place like Target, you can just say "no thanks" to the loyalty card and pay with cash without making life difficult, right? But when you're at a big bank like Chase, suddenly trying to withdraw your own damn money becomes this huge ordeal just because someone wants to harvest your data... it's wild how much more complicated things get when you just want privacy.

Chris Chase5 said:At the end of the day, lending money is a bank's core business, and they take on the risk of default every single time they issue a loan. When they ask you questions, it isn't because they’re being nosy; it’s about building a solid risk profile. It’s just much more likely that someone with a steady, high income or someone buying a home they actually intend to live in will follow through on their payments...

According to some statistical studies, married individuals tend to be more financially responsible than single people, and things like that. Personally, I think it's better to just provide the information requested, especially since being transparent might actually help you land better terms down the road.

Plus, they are legally obligated to gather as much data as possible to prevent money laundering and terrorism financing. Honestly, that part always makes me chuckle—people looking to move illicit funds aren't exactly standing in line at a local Chase branch waiting for a teller to help them out. 😁

Your logic is a bit off here; banks aren't trying to be nosy, and they certainly aren't the Gestapo...😁

Look, if it affects my credit score, I’d rather be upfront about it than lie about my income, even though those things shouldn't technically overlap.
We all know what the requirements are for a loan or an overdraft. I had an overdraft approved for $16667 based on nothing but my minimum salary, simply because I was constantly depositing large amounts of cash. The system probably flagged me automatically. I mean, who else would grant me that kind of limit on a minimum wage? Nobody. But when I actually went into the bank to apply for a formal loan, they told me my income could only support a monthly payment of $100. Basically, they said I can't carry more than $1,500 in debt. So why give me such a huge overdraft limit in the first place?? It feels like they're practically inviting people to screw over the bank and overextend themselves.

Chris Chase5 said:At the end of the day, lending money is a bank's core business, and they take on the risk of default every single time they issue a loan. When they ask you questions, it isn't because they’re being nosy; it’s about building a solid risk profile. It’s just much more likely that someone with a steady, high income or someone buying a home they actually intend to live in will follow through on their payments...

According to some statistical studies, married individuals tend to be more financially responsible than single people, and things like that. Personally, I think it's better to just provide the information requested, especially since being transparent might actually help you land better terms down the road.

Plus, they are legally obligated to gather as much data as possible to prevent money laundering and terrorism financing. Honestly, that part always makes me chuckle—people looking to move illicit funds aren't exactly standing in line at a local Chase branch waiting for a teller to help them out. 😁

Your logic is a bit off here; banks aren't trying to be nosy, and they certainly aren't the Gestapo...😁

Banks and credit: the ultimate lifesavers for failing marriages, right? Together until the very last payment. 😍 Just kidding, but really... 😍
You can argue that married folks are more reliable, but look at those with modest incomes and several children—there are far too many of them out there. A single person doesn't have the same financial burdens of supporting others, which arguably makes them a more credible bet for repayment!

Generally speaking, I assume they only ask those specific questions if you're applying for an overdraft or a loan, not when you're simply opening a standard checking account. When you request a basic account, you usually only fill out details regarding your employer or marital status if you're seeking credit; at least, that's how I experienced it at the Federal Reserve...
Personally, I wouldn't bother answering those questions since I have no interest in overdrafts or loans—I don't owe them anything. But if you're someone looking to borrow, well, that’s a different story entirely.

The article mentions—though it’s hard to say for sure since it's just a journalist's take—that the guy is happily divorced and has a kid.
It’s also possible the teller noticed him making child support payments, so she used his visit at the counter as an excuse to update his profile.

Banks have their own internal policies that allow them to ask for personal or socio-demographic info, provided they keep everything secure under privacy laws.
Basically, how much you choose to share can act as both a benefit or a limitation when you're asking the bank for favors later on.
(For instance, they calculate creditworthiness based on things like how many dependents you're supporting.)

In the US, child support is a sensitive topic that people often try to avoid discussing, but since those legal obligations usually take priority over other debts during collections, I'd imagine it's pretty important information for a bank to have.

Susan James said:The article mentions—though it’s hard to say for sure since it's just a journalist's take—that the guy is happily divorced and has a kid.
It’s also possible the teller noticed him making child support payments, so she used his visit at the counter as an excuse to update his profile.

Banks have their own internal policies that allow them to ask for personal or socio-demographic info, provided they keep everything secure under privacy laws.
Basically, how much you choose to share can act as both a benefit or a limitation when you're asking the bank for favors later on.
(For instance, they calculate creditworthiness based on things like how many dependents you're supporting.)

In the US, child support is a sensitive topic that people often try to avoid discussing, but since those legal obligations usually take priority over other debts during collections, I'd imagine it's pretty important information for a bank to have.

Man, they will try any way they can to dig into your business by twisting those anti-money laundering and terrorism financing laws however they want.
Honestly, if you don't feel like handing over your life story, just tell them to report you to the feds if they're so suspicious.
Unless, of course, you actually *are* laundering cash or funding terrorists. Then you're kind of screwed. 😁

Brian Moore12 said:Total nonsense. What exactly are they getting from loyalty cards? Consumer habits, what people buy, and which brands they like. That's it. They aren't collecting data on who’s married or what kind of pension someone's grandma is drawing. Banks, being as arrogant as they are, act like they own the place and that the rules don't apply to them—specifically GDPR. People, stop handing your personal info over to these banking suits. Stand up for your rights under the law, and if those arrogant institutions keep giving you grief, report them to the authorities where they belong....

There is just so much more to it than that...
http://www.businessinsider.com/the-i...egnancy-2012-2

Charles Ramos7 said:Honestly, it doesn't matter. All the store cares about is the data showing men buy pads, so they might as well put the shelf right next to the beer aisle.😁

And what if that guy isn't a beer drinker? 😁

Dana Robinson4 said:There is just so much more to it than that...
http://www.businessinsider.com/the-i...egnancy-2012-2

If they can pull that off, imagine what banks are capable of...

Brian Moore12 said:And what if that guy isn't a beer drinker? 😁

If they can pull that off, imagine what banks are capable of...

It’s not about one specific guy; it’s about how the majority acts. Anyway, I was just using that as an example of how much data they can scrape from credit card info.

Charles Ramos7 said:It’s not about one specific guy; it’s about how the majority acts. Anyway, I was just using that as an example of how much data they can scrape from credit card info.

Look, we're talking about pulling averages based on the shopping habits and preferences of a group of people.
What banks actually do is harvest all sorts of data from individuals—and it isn't anonymous. Big difference.

Brian Moore12 said:Look, we're talking about pulling averages based on the shopping habits and preferences of a group of people.
What banks actually do is harvest all sorts of data from individuals—and it isn't anonymous. Big difference.

I don't follow. Doesn't a bank also use averages for certain groups? 🤷