[Michael G.]

Originally Posted by retiredguy123

I use banks for a checking account only.

Amen to that.
Banks will be banks, and you play by their rules.
If you got $$$$ to invest, there's to many other places to get better returns then banks.
Start with Credit Unions if you don't trust On-line-banks.

[BrianL99]

Originally Posted by Aces4

When I worked in a bank and had someone complete an application, it was on me to be sure it was correct at the time. He didn't care about their CD anymore, PNC dragged their feet, apparently, when reimbursing him the over $100,000. amount they had cashed. I hope that clears up your confusion.

I'm not confused even a little. I understand 100% how it works. Our company has a banking license and owns a bank. If you were responsible to "completing applications", you were mostly uninvolved with the bank's security functions.

He created a security issue, because the bank wasn't able to confirm his identify, via their 3rd party provider. That stops the money from moving anywhere, until it's sorted out to the Bank's satisfaction. It happens every day, especially when someone shows up with a Certified Check or a Bank Check.

[Aces4]

Originally Posted by BrianL99

I'm not confused even a little. I understand 100% how it works. Our company has a banking license and owns a bank. If you were responsible to "completing applications", you were mostly uninvolved with the bank's security functions.

He created a security issue, because the bank wasn't able to confirm his identify, via their 3rd party provider. That stops the money from moving anywhere, until it's sorted out to the Bank's satisfaction. It happens every day, especially when someone shows up with a Certified Check or a Bank Check.

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?

[BrianL99]

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?

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.

[Topspinmo]

Originally Posted by BrianL99

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.

So what saying they can hold his money hostage. Funny when I own bank they want money now address or not.

[Topspinmo]

Originally Posted by BrianL99

A wife probably doesn't charge for her investment advice.

But, do you take it?

[Topspinmo]

Originally Posted by BrianL99

Yes and you're 100% wrong and the bank was only following regulations and protocol. Your refusal to provide them with reasonable and customary information, caused the problems.

I've never used PNC bank, but in this case, the problem was the customer, not the bank.

But didn’t stop them from taking the money did it.

[Denbal82]

Correct.

[Denbal82]

Thank you, you're exactly right.

[coralway]

You shopped around, and PNC had the best CD rates? Hard to believe as they are consistently rated as offering below competitive rates. There are several online banks offering quite attractive rates.

[Whatnext]

Looking back over all OP's previous posts, there does seem to be a whole history of problem with whoever there are dealings with.

[goneil2024]

Paper checks can be problematic. For any large transactions EFT should be considered for all of the reasons discussed throughout this discussion. There are costs associated with EFT however it may be a better option than others.

[lawgolfer]

Originally Posted by Whatnext

Looking back over all OP's previous posts, there does seem to be a whole history of problem with whoever there are dealings with.

You're right. The OP seems to have a problem with most businesses with which he deals. These range from Burger KIng to dentists, chiropractors, real estate agents, orthopedists, health insurers, shipping services, to Urgent Care.

[rsmurano]

The big question is: why would anybody get a cd? You’re locked in with a rate that is just over inflation, get into a money market that has a better rate and you can buy and sell anytime.

[Ginnyshe]

On line CDs have the best rates but I found out it’s good to have a small savings at the same bank if you need to close the CD because the rates dropped too low. The only option I had was waiting for a certified check. Because of weekends and 2 holidays, it was three weeks before I received it. My mail doesn’t arrive in time to deposit it until the next day. Because it was a Friday, I had to wait till the following week to transfer the funds back to another high paying on line account!