Bank refused to accept cash for a mortgage payment.

patwicklow

Bank of America in California refused to accept cash for a mortgage payment.
and he gets detained.

http://www.activistpost.com/2012/02/cashless-society-bank-of-america.html

TheZohanS

Thank you Pat.

And now the weather....

patwicklow

I thought all banks dealt in cash some people just have blinkers, can not see whats going on.

Seachmall

Surely legal tender is legal tender?

If they refuse to accept cash have they not just refused his payment, i.e. can he now not pay this month as he made a valid attempt to do so and they wouldn't accept?

Can banks force you to make your payment in copper coins too?

seamus

The U.S. has been very suspicious of cash for quite a long time, despite their immense pride and investment in both the ideal and the image of their greenbacks.

Paying for small purchases - food, tips, cabs, etc - in cash is routine, but try to hand over a few hundred dollars in cash for a hotel room and you'll get some very strange looks.

Without watching the video above, I'm suspecting that the guy tried to give the bank a large amount of money to make a point or otherwise cause a scene, and some kind of mandatory legislation required the bank to become suspicious about it.

If you rock up to an Irish bank with a briefcase full of euro notes, they won't just take it off you and smile, they'll probably ask all sorts of questions and have you fill out all sorts of forms. Then they'll report it to Revenue and possibly the Gardai who can choose to investigate.

Zebra3

patwicklow wrote: »

I thought all banks dealt in cash

Some banks are cashless. First Active didn't deal in cash.

patwicklow

seamus wrote: »

The U.S. has been very suspicious of cash for quite a long time, despite their immense pride and investment in both the ideal and the image of their greenbacks.

Paying for small purchases - food, tips, cabs, etc - in cash is routine, but try to hand over a few hundred dollars in cash for a hotel room and you'll get some very strange looks.

Without watching the video above, I'm suspecting that the guy tried to give the bank a large amount of money to make a point or otherwise cause a scene, and some kind of mandatory legislation required the bank to become suspicious about it.

If you rock up to an Irish bank with a briefcase full of euro notes, they won't just take it off you and smile, they'll probably ask all sorts of questions and have you fill out all sorts of forms. Then they'll report it to Revenue and possibly the Gardai who can choose to investigate.

Yes but hello he was trying to pay off his mortgage, well i have heard it all now with these banks

Unavailable for Comment

Seachmall wrote: »

Surely, legal tender is legal tender?

If they refuse to accept cash have they not just refused his payment, i.e. can he now not pay this month as he made a valid attempt to do so and they wouldn't accept?

Can banks force you to make your payment in copper coins too?

Apart from the Central Bank of Ireland, no bank, business or agency in the Republic is obliged to accept more than 50 coins in any one transaction. I think something similar exists in most jurisdictions. It rules out doing those stunts here.

ejmaztec

patwicklow wrote: »

Yes but hello he was trying to pay off his mortgage, well i have heard it all now with these banks

Perhaps he was still wearing the balaclava that he wore when he robbed them a day earlier?

Guy:Incognito

"Somerton and his wife, Ana, are victims of fraudclosure and have become the activists known as Rob and Ana vs Bank of America. At the height of their foreclosure struggle, they made news when they threatened to bulldoze their home leaving Bank of America a "smoldering pile of debris"


How did I know before even openign it it wasnt a normal case of "guy is making a mortagage payment and has cash so decides to go to the bank and pay it"

They knew what they were at and were causign trouble.


EDIT, I never read the name of the site before I clicked the link, could have saved myself the bother.

patwicklow

Unavailable for Comment wrote: »

Apart from the Central Bank of Ireland, no bank, business or agency in the Republic is obliged to accept more than 50 coins in any one transaction. I think something similar exists in most jurisdictions. It rules out doing those stunts here.

Yeah all gearing up for a one world bank.

Underdraft

I presume the bank is entitled to accept payment in whatever way(s) they prefer?

Much like if I went to the local shop and tried to buy my groceries with a jar of 1c coins they'd probably tell me to get lost.

seamus

patwicklow wrote: »

Yes but hello he was trying to pay off his mortgage, well i have heard it all now with these banks

If I turned up to my bank with my mortgage in a briefcase in euro notes and tried to pay it off, they would usher me into a room and grill me. And I would judge them for not doing so, because that would be highly suspect behaviour on my part.

patwicklow

seamus wrote: »

If I turned up to my bank with my mortgage in a briefcase in euro notes and tried to pay it off, they would usher me into a room and grill me. And I would judge them for not doing so, because that would be highly suspect behaviour on my part.

Well 1300 dollors aint a lot is it?

Seachmall

although businesses must accept dollars, that doesn’t mean they literally have to take your big wad of bills which is bulky, difficult to make change for, and, frankly, a breeding ground for germs. A vendor can usually put reasonable conditions on the manner in which they will accept dollars, and one of those conditions can be that they’ll only accept dollars electronically, via credit card. Or, as the US Treasury explains on their website, “Private businesses are free to develop their own policies on whether or not to accept cash unless there is a State law which says otherwise.”

- Source

Guy:Incognito

patwicklow wrote: »

Well 1300 dollors aint a lot is it?

Heres a simple question for the guy , did he know before hand that the bank dont take cash?

I have a sneaky suspicion I already know the answer.

cosanostra

Isn't the National Irish Bank now cashless

Park Royal

If you do a speaking event in Manchester for some Irish / English people

like Bertie , you might have to accept cash.....even Sterling Cash....:P

knird evol

seamus wrote: »

If I turned up to my bank with my mortgage in a briefcase in euro notes and tried to pay it off, they would usher me into a room and grill me. And I would judge them for not doing so, because that would be highly suspect behaviour on my part.

Wasn't he tendering cash in payment of a debt(loan/mortgage repayment)
They are obliged to take it. He is not obliged to converse with them or go in to any side, back or front offices. They can inform the gardai, fbi and kgb also if it makes them feel better.

Guy:Incognito

knird evol wrote: »

They are obliged to take it. .

Are they? Why? Does the arrangement they made and the legal document they both signed say he can and should pay his mortgage in cash?

Nothingbetter2d

lol why didn't he lodge the cash in to his current account then xfer the money from his current account to his morgage account?

patwicklow

Nothingbetter2d wrote: »

lol why didn't he lodge the cash in to his current account then xfer the money from his current account to his morgage account?

Yeah and why didnt the bank to that in the first place

pickarooney

seamus wrote: »

If I turned up to my bank with my mortgage in a briefcase in euro notes and tried to pay it off, they would usher me into a room and grill me. And I would judge them for not doing so, because that would be highly suspect behaviour on my part.

It was about 1000 euros worth. Surely you have the right to have that much in cash on you?

knird evol

Guy:Incognito wrote: »

Are they? Why? Does the arrangement they made and the legal document they both signed say he can and should pay his mortgage in cash?

If he stopped paying for six or maybe twelve months they might be inclined to take cash off him next time.

qrrgprgua

patwicklow wrote: »

Bank of America in California refused to accept cash for a mortgage payment.
and he gets arrested

http://www.activistpost.com/2012/02/cashless-society-bank-of-america.html

Rightly so.. Its call an anti money laundering procedure.

Cashless society is the future.

patwicklow

pickarooney wrote: »

It was about 1000 euros worth. Surely you have the right to have that much in cash on you?

That is the problem humans are losing there RIGHTS every day bit by bit
i can see it others have blinkers on.

patwicklow

qrrgprgua wrote: »

Rightly so.. Its call an anti money laundering procedure.

Cashless society is the future.

And you think this is good do you? hmm

Seachmall

patwicklow wrote: »

And you think this is good do you? hmm

It provides some excellent benefits, in theory at least.

Although I wouldn't like a 3rd party to be a necessity just because I want to buy something or just to even have money.

patwicklow

Seachmall wrote: »

It provides some excellent benefits, in theory at least.

Sure does, Rats in a cage comes to mind.

the_syco

patwicklow wrote: »

Well 1300 dollors aint a lot is it?

In $100 bills? $100 bills being the most counterfeited bills second only to $20 bills...

Nothingbetter2d wrote: »

lol why didn't he lodge the cash in to his current account then xfer the money from his current account to his morgage account?

Because he wanted to create a scene.

the_syco

patwicklow wrote: »

That is the problem humans are losing there RIGHTS every day bit by bit
i can see it others have blinkers on.

Explain to me what "right" you have to pay me in a format which I do not take?

qrrgprgua

patwicklow wrote: »

That is the problem humans are losing there RIGHTS every day bit by bit
i can see it others have blinkers on.

What right are we loosing? Its more practical to use cards.

as a business person I prefer card transactions than having the risk of cash on premises. Lot of old people in Ireland like hard cash.. But its slowly Changing. For businesses its safer and securer to have card transactions. That way your premisses are not a magnet for theft.

You would not believe the amount of people who come in trying to buy 10 euros of petrol with a 100 euro note.. If its counterfit you have to call the gards. if its not then it could be just laundering money.

patwicklow

the_syco wrote: »

In $100 bills? $100 bills being the most counterfeited bills second only to $20 bills...


Because he wanted to create a scene.

Dont banks have machines to check counterfit of all places banks should know what is real money and whats not.

humanji

patwicklow wrote: »

That is the problem humans are losing there RIGHTS every day bit by bit
i can see it others have blinkers on.

So does he have the right to give them the money, or do they have the right not to accept cash? One of them has to lose their "rights".

qrrgprgua

patwicklow wrote: »

Dont banks have machines to check counterfit of all places banks should know what is real money and whats not.

Counterfeit yes... Stolen or Laundered money no.

patwicklow

qrrgprgua wrote: »

What right are we loosing? Its more practical to use cards.

as a business person I prefer card transactions than having the risk of cash on premises. Lot of old people in Ireland like hard cash.. But its slowly Changing. For businesses its safer and securer to have card transactions. That way your premisses are not a magnet for theft.

You would not believe the amount of people who come in trying to buy 10 euros of petrol with a 100 euro note.. If its counterfit you have to call the gards. if its not then it could be just laundering money.

Well it is up to you to check your notes before you take them i do

qrrgprgua

patwicklow wrote: »

Well it is up to you to check your notes before you take them i do

So do I.. But have been raided 3 times over the past 20 years and seen the price of my insurance rise (and my business is not alone) I can tell you that card payments are far far safer than cash payments.

Bruthal

the_syco wrote: »

In $100 bills? $100 bills being the most counterfeited bills second only to $20 bills...

So if €20 or €50 notes were the most counterfeited notes here, you would never use them?

patwicklow

qrrgprgua wrote: »

So do I.. But have been raided 3 times over the past 20 years and seen the price of my insurance rise (and my business is not alone) I can tell you that card payments are far far safer than cash payments.

Of course i can understand your point of view on that, but a large bank and wanting to pay a monthly bill and they would not take it leads all back to the Rothschilds one world bank,new world order, just do some research see were it really is all leading to.

Seachmall

patwicklow wrote: »

Sure does, Rats in a cage comes to mind.

I think you'd do well over here.

patwicklow

Seachmall wrote: »

I think you'd do well over here.

yes blinkered i see!

MadYaker

patwicklow wrote: »

Of course i can understand your point of view on that, but a large bank and wanting to pay a monthly bill and they would not take it leads all back to the Rothschilds one world bank,new world order, just do some research see were it really is all leading to.

qrrgprgua

patwicklow wrote: »

Of course i can understand your point of view on that, but a large bank and wanting to pay a monthly bill and they would not take it leads all back to the Rothschilds one world bank,new world order, just do some research see were it really is all leading to.

Oh.. Please. Look you obviously don't understand banking well.

A mortgage account is not a transacting account. The Bank could have taken the cash and deposited in the persons current account (Checking account) Problem is that if a person does not have a Checking account with the bank where they have a mortgage account. The mortgage account is not a transacting account so the bank can't lodge directly to it. All the idiotic person had to do was to lodge the cash to their checking account and let the standard order/ Direct D happen as normal.

In Ireland you can't lodge cash to your Mortgage directly,, You put it in your Current account and then transfer it.

Seachmall

patwicklow wrote: »

yes blinkered i see!

We're too far lost in the herd to save, but I appreciate you trying.

Over in CT you can coordinate with the free-minds to expose the mass corruption of the global authorities.

patwicklow

qrrgprgua wrote: »

Oh.. Please. Look you obviously don't understand banking well.

A mortgage account is not a transacting account. The Bank could have taken the cash and deposited in the persons current account (Checking account) Problem is that if a person does not have a Checking account with the bank where they have a mortgage account. The mortgage account is not a transacting account so the bank can't lodge directly to it. All the idiotic person had to do was to lodge the cash to their checking account and let the standard order/ Direct D happen as normal.

In Ireland you can't lodge cash to your Mortgage directly,, You put it in your Current account and then transfer it.

I sure do understand banking very well and know what there all up to, dealt with enough chairmen directors of banks in my time.

dotsman

patwicklow wrote: »

I sure do understand banking very well and know what there all up to, dealt with enough chairmen directors of banks in my time.

You clearly don't understand at all. Just as you fail to grasp reality. The guy was never arrested, in fact the video makes it very clear that he is not being arrested - so why does your original post say that he was?

The guy is a professional a$$hole. So you can cheer him on if you want, but that says a lot more about you than Bank of America

qrrgprgua

patwicklow wrote: »

I sure do understand banking very well and know what there all up to, dealt with enough chairmen directors of banks in my time.

What are they up to..... Like they need more staff available to people who want to pay their mortgage with cash...

Look 99% of wages in Ireland as paid directly to bank accounts, People don't get paid in cash anymore. That some idiot wants to prove a point and posts a video of himself trying to pay mortage in cash, goes to show one thing.. Idiots still exist. (and he had too much time on his hands.. who takes time off work to go to a bank..)

patwicklow

dotsman wrote: »

You clearly don't understand at all. Just as you fail to grasp reality. The guy was never arrested, in fact the video makes it very clear that he is not being arrested - so why does your original post say that he was?

The guy is a professional a$$hole. So you can cheer him on if you want, but that says a lot more about you than Bank of America

The police detained Somerton for a half hour before releasing him with a warning that he may never return to that BoA branch or he'll be arrested.'

patwicklow

qrrgprgua wrote: »

What are they up to..... Like they need more staff available to people who want to pay their mortgage with cash...

Look 99% of wages in Ireland as paid directly to bank accounts, People don't get paid in cash anymore. That some idiot wants to prove a point and posts a video of himself trying to pay mortage in cash, goes to show one thing.. Idiots still exist. (and he had too much time on his hands.. who takes time off work to go to a bank..)

I can see you just love banks dont you

Seachmall

patwicklow wrote: »

The police detained Somerton for a half hour before releasing him with a warning that he may never return to that BoA branch or he'll be arrested.'

And...?

patwicklow

Seachmall wrote: »

And...?

detained Somerton for a half hour before releasing him!