Friday, July 16, 2010

From Ed. "More than $5000 in a check I THINK NOT!" (July 16, 2010)

They (apparently) have a paper check deposit limit of $5000. Don't try to find that under 'Terms and Conditions' though on the website...I found out only verbally, on the phone. They told me my payroll check, drawn from a US Bank for $5500 was a 'security risk', and that I should have direct deposit.

This was the first check from a new job, before dir. dep. was set up...but you can believe they won't be getting more of my cash. I like a bank that accepts US Dollars, thank you very much. I think I might take all my extra money out and put it in other interest generating accounts (there are plenty out there), but keep using them for the services that cost them money (bill pay, atm withdrawls, etc.) Saves me having to establish a new set of online bill pay accounts.

Ed.