Message:

<p>[QUOTE=&quot;Owle, post: 1262510, member: 22004&quot;]Of course that would be dumb, how would the bank know if it was any good?</p><p><br /></p><p><br /></p><p>Here was another critical comment on the story by a former Bank of America, banker:</p><p><br /></p><p>&quot;Because the whole story is made up and used as a crude tool by Gary North, and/or whatever &quot;book&quot; was being hawked to scare and frighten the stupid and ignorant.</p><p><br /></p><p>&quot;Additionally, if she took the check to any branch of any bank, other than the branch where the payor has their account, she is not going to get her money immediately, they (and her) are going to have to wait until the check clears.</p><p><br /></p><p>&quot;Also, the author of the &quot;story&quot; is clueless as to how branch banking works and is under the impression that each and every branch has huge stacks of money lying about and if they don&#039;t it is because of some &quot;ebil gummint&quot; plot - which is complete and total horsesh*t. </p><p><br /></p><p>&quot;Branches have enough cash on hand for normal, everyday activities and depending on the volume of that business, some branches may have more than others. Additionally, the headquarters for the bank determines what is the appropriate level of cash for a particular branch to have and there are procedures in place if a branch exceeds those limits (FYI - each line teller also has limits as to how much they can have in their cash truck).</p><p><br /></p><p>&quot;So, if a branch normally needs/uses $300,000 in cash and coin in a week, they are unlikely to have more than that on hand, and will get it replenished weekly, so if someone comes in and wants to cash a huge check, especially at a small activity branch, then it may take a day or three to get the money - part of which involves the transportation of the cash by armored transport.</p><p><br /></p><p>&quot;Thus I repeat, the &quot;story&quot; is bullsh*t, likely woven out of whole cloth, by someone who is clueless to how branch banks work, and so presents the &quot;story&quot; to do nothing more than con the rubes into buying whatever cr*p he is peddling.</p><p><br /></p><p>&quot;And yes, I have worked for the &quot;evilest&quot; of banks and was intimately familiar with teller limits, vault limits, and the shipping and receiving of cash at a branch level. The 82% Rule: 82% of the people in the world are total idiots, 13% have a vague idea of what is going on and 5% are truly aware.&quot;[/QUOTE]</p><p><br /></p>

Your name or email address:

Do you already have an account?

• No, create an account now.
• Yes, my password is:
• Forgot your password?

Stay logged in