Community Chat

[Alison Wonderland]

No, those are standard questions from a bank or credit union..It's like their version of "Do you want fries with that?"

[Sooner]

Banks changed a lot due to Dodd-Frank laws:

The Dodd-Frank Act is a comprehensive and complex bill that contains hundreds of pages and includes 16 major areas of reform. Simply put, the law places strict regulations on lenders and banks in an effort to protect consumers and prevent another all-out economic recession.

[Peaches McPhee]

She was probably trying to drum up business. Bankers often are salesmen too.

[jannabelle1]

I'm sure she was trying to determine if you would be interested in refinancing your mortgage loan, but she should have told you why she was asking and what rates they could offer. It never hurts to ask why she was asking since she didn't make that clear to you (she should have).

[VaBelle35]

When I call my credit union with a question, they go through all my accounts to see if I can get something better (lower fees, higher intestest, better credit card perks, etc.)

[Carmie]

I don't find it usual at all.  This past fall, I transferred funds from one annunity account to a new one that I wanted to open. In order to do this, I had to fill out paper work that asked How much cash on hand I had and if I had enough cash to live in for the next six months.

I filled out the form vaguely stating I had enough cash.  The financial adviser called me over the phone and asked me many more questions that were invasive about where this was was and how long it would take me to get access to it.  

i admit, I told him a few lies because I didn't think it was any of his business.  Two weeks later, I got form in the mail that had all of the questions and my answers in it.  I was advised that if there any errors to call the annunity company.

It seems there are new regulations for banking. I don't like it, but it appears to be here to stay.  There must be a reason for it.

[hippiechick7897]

I work for a bank. I don’t find it odd. Banks are consistently trying to learn as much as they can about their customers, not only to interest you in any additional products that might match your needs, but to assess the customer is not a safety/legal threat. (Like money laundering or terrorism)

Perfectly normal and legitimate question. Nothing to be concerned about.

[auntjoy036]

It is valuable for a financial institution not just to have a customer, but a customer with multiple ties to the institution (checking account + savings account + loan + credit card, etc.).  The teller was trying to figure out what other service to offer you.

[kivah]

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@Love to read wrote:

I'm a loan officer at a credit union and my guess is that she was trying to determine if you might benefit from a mortgage refinance since rates are so low now.  I don't view her questions as inappropriate unless she was rude.  The credit union motto is "people helping people" and sometimes you have to ask a few questions to do that. 

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I'll be 80 yrs old in November!!!!!!!!!! Would I be a good candidate for a mortgage refinance?

A few months ago, I made a large cash deposit at the teller's window -- and the teller told me that she's not able to print out my receipt. She then called over a manager-type - who also said they can't print out my receipt. So - they printed out a full page showing my deposit. So - this also made me feel uncomfortable. Somehow, the teller was able to print out a receipt for the person in front of me.

[kivah]

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@hippiechick7897 wrote:
I work for a bank. I don’t find it odd. Banks are consistently trying to learn as much as they can about their customers, not only to interest you in any additional products that might match your needs, but to assess the customer is not a safety/legal threat. (Like money laundering or terrorism)

Perfectly normal and legitimate question. Nothing to be concerned about.

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I'm almost 80 yrs OLD!!!!!!!!!!! 

These things have never happened to me in the 50 yrs that I have bank accounts.

She did ask me if I needed a checking a/c and I told her that I already have one with another bank.

Banks are getting to be a pain in my side.