Originally Posted by jimhoward (Post 2452259)

So why not just give a physical address? Its not a secret. Your address as well as your past addresses, are easily available in an on line search to anyone who cares to know. All that is needed is your name, state and estimated age. Your address tells nothing about your net worth.

To open an account, you have to give them your social security as well. That is the more critical item for privacy. If I trust somebody enough to give them my SSN, I wouldn't worry too much about physical address. But that is just me.

Also, you deposited a "3-figure amount"? Do they even sell CD's that small? That must be a typo.

But I'm glad you finally got your money back. Now just go onto your fidelity or vanguard account and buy a CD painlessly at a rate that will no doubt exceed pnc. You wont need a cashiers check, just transfer the money electronically.

Originally Posted by Denbal82 (Post 2452277)

Bashing a bank? Did you actually read my post?

Originally Posted by Denbal82 (Post 2452277)

Bashing a bank? Did you actually read my post?

Originally Posted by retiredguy123 (Post 2452282)

The Federal Government has changed their regulations of banks within the past few years and they are still changing them. They call it "know your customer" regulations. The rules are not yet cast in stone and they are always being revised. But basically, banks are required to know as much as they can about who they are doing business with. For example, you cannot even make a cash deposit into someone else's account because the bank doesn't know where the money came from. Also, you can no longer make an online purchase using a debit card unless the card was opened with proper identification. I used to buy non-reloadable debit cards from Walgreens, with no identification, to make online purchases, but these are no longer accepted.

All that being said, I never invest any money with a bank. Investment companies, like Fidelity and Vanguard, are much better for investing and they offer better rates and you can buy CDs. I use banks for a checking account only. They may also be a good place to get a loan, if you need one.

Originally Posted by Bill14564 (Post 2452231)

No, we don't all know that.

We *do* know that different businesses have different policies and that three are anti-fraud and anti money-laundering rules that banks are required to follow.

What is a bit odd is that "(t)he account opening went smooth" if the bank needed more information. Perhaps the bank does not provide the CD but gathers funds to buy a product from another source which requires the full address. Just a guess. Still, you should have been informed when the account was opened not several days later.

Originally Posted by BrianL99 (Post 2452294)

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.

Originally Posted by Topspinmo (Post 2452385)

Then, if they knew their own policy they shouldn’t have took his money cause of the address problem. But no they took his money and then held him hostage.

Originally Posted by ElDiabloJoe (Post 2452241)

I've had issues with institutions not accepting my PO Box as well. Here's the simple solution: Use the physical street address of the post office, and then your box number like it's an apartment number. Done.

Originally Posted by justjim (Post 2452307)

My Financial Advisor finds me a best short term CD or money market when I want to go to cash. No charge. But to each their own.

Originally Posted by justjim (Post 2452307)

My Financial Advisor finds me a best short term CD or money market when I want to go to cash. No charge. But to each their own.

Originally Posted by Topspinmo (Post 2452390)

You’re financial advisor making money no matter what you want to do your money. More transaction more charges.

Originally Posted by gatorbill1 (Post 2452239)

Better rates online anyway

Originally Posted by BrianL99 (Post 2452389)

I'd be curious to see the "Application" that was filled out, to open the account.

I'll bet $5 it asked for a "Primary Address" or "Residential Address" ... to which, the Poster refused to answer properly. It's entirely possible that someone didn't immediately notice the deception and a compliance officer or other management, picked it up.

Trying to be deceptive when opening a bank account or dealing with a bank in any way, is a recipe for trouble.

Originally Posted by Aces4 (Post 2452411)

Deceptive? He didn't feel it was necessary and it's the bankers obligation to make sure the form is completed as they feel is required. Talk about twisting things around...

Originally Posted by BrianL99 (Post 2452412)

He didn't feel it was necessary to give the bank the information they requested?

The bank reviewed the application and determined it wasn't completed as required.

He's mad because the bank wouldn't give him a CD, after he refused to give them his residential address.

There's something twisted around here, that's for sure. I think some posters are confused as to what it is.