Quote:
Originally Posted by Aces4
So PNC grabbed his money even though they couldn't confirm his identity and accepted his application, deposited the money and then realized THEIR error and dragged their feet for the extra interest they earned, not the depositor. Is that what you are telling me happened and is acceptable? The check should not have been touched if the app wasn't acceptable. What reputable financial institution would cash a check prior to establishing an acceptable account?
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You can manipulate the facts and the situation all you want, but the bank absolutely did the right thing and they had no choice, per Banking Regulations.
The OP/Depositor intentionally tried to obscure his address and therefore, his identify. He also presented a Bank/Certified Check, which is another red flag. Any credible bank would have done the exact same thing, because they have no choice.
Don't believe it? Go get a Bank Check for $100,000 and try to deposit the check at another bank ... ask them "how long before I can have access to the money I'm depositing"? (Or just see the attached, so you understand the regulations.
Now complicate the situation, by the presenter of the check, using a non-verifiable address.