This morning, the December 4th, I went to my local bank to obtain a cash advance on on my Visa card. After informing the teller I wanted a $1,500 cash advance the teller then asked if I had an account at the bank. This is the first time I have ever been asked this by any bank. (Note: according the credit card merchant agreements, any issuing bank is obliged to honor these requests from any valid cardholder.) She then informed me the MAXIMUM cash advance allowed is only $500. Note this policy has nothing to do with Visa, or whatever is your indivdual credit limit. I asked when this change started, and the teller said when the bank was recently bought by another bank. The teller then proceeded normally through the regular credit card authorization procedure. The adjacent teller started talking quietly to my teller, and then she said they would have to give me a cashier's check. When I insisted on cash, they said they would then cash the cashier's check. I realized at once what is going on, but I wanted to hear their "public explanation": it was the acquiring bank's procedure and they didn't understand why they had to make this additional intermediary step. Incidentally, while this was going on, another teller announced in frustration that her computor "was down again". I glanced over and the screen was indeed showing a default error type message. This is a strategy of imposing incremental resstrictions on cash payouts, the next step is just to refuse to cash the proffered cashier's check. Either take the check or you are out of luck. Realistically, for most people, the only sources of cash are either from change when buying something or from their local bank. Today it's a $500 limit, next week a $100? Just so the pollies out there can't say I made this all up, here's the name, address, and phone number for the bank. Verify the information yourself. CIB Bank, 2580 Sherdian Road, Zion IL 60099 (847)731 5130

-- Sure M. Worried (SureMWorried@bout.Y2K.coming), December 04, 1999

Answers

Sue, the reason why they wanted to issue you a cashiers check and then cash the check was so they could charge you an additional fee for the check. Banks are now price gouging their services. At Bank of the West here in California, for a money order they charge $4.00!! For a cashiers check $5.00. You can go to Raley's and get moneyorders for 25 cents ea. Banks are tightening up, no doubt about it.

-- bardou (bardou@baloney.com), December 04, 1999.

No, issuing a cashier's check in lieu of cash in order to generate yet another bank fee wasn't the reason in this case. The bank did not charge me for their cashier's check. It is simply a tactic to restrict the availablity of cash. The bank's know all too well they cannot withstand a bank run, and are implementing a series of restrictions. This was mentioned some time ago, and wanted to show that it's starting to be enforced.

How much money do you have in your pocket, right now? What if that was all you could get hold of to live on?

-- Sure M. Worried (SureMWorried@bout.Y2K.coming), December 04, 1999.

Cali banks are still pissed off that they got nailed on the ATM fees.ha.the bastards,we should put 'em against the wall.

-- zoobie (zoobizoob@yahoo.com), December 04, 1999.

A few weeks ago I was in a Costco check out line when the woman ahead was cussing about the inability of her debit card to work.She finally just paid in cash. When I asked the clerk about it, he said that debit cards for two local credit unions weren't working that day, ( Selco and Ulano in Eugene OR). When I asked why he shrugged his shoulders,smiled and said, "who knows, Y2K maybe?"

-- Ralph Kramden (and@AwayWeGo.com), December 04, 1999.

At my small town (pop. 2800) bank a few days ago, I cashed a $10,000 check for a mortgage payment. From it I asked for a cashier's check for $6400 (to buy gold coins) and the rest in $20's. The cashier's check cost me $5, but what the heck, I'm out of the system. The clerk didn't even flinch about counting out the $20s.

Will she still not flinch in a couple of weeks??

-- (cash@out.com), December 04, 1999.

Commerce bank in NJ is having a drawing for $2000 each week from nov 26 to jan 7. Each time you use your card to make a purchase, you are entered again into the drawing.

Do you think they want the cash to stay in the bank till after the rollover?

-- tree (thetrees@bigfoot.com), December 04, 1999.

cash@out-she has your name and address, no problem whatsoever.

-- ~~~~ (~~~@~~.com), December 04, 1999.

Went to the Bank today (open till 1:00 on Saturdays)

This is weird, our bank is no longer even selling money orders. Started on Nov. 1, 1999. ??????????????????????

-- whatsup? (karlacalif@aol.cop), December 04, 1999.

About three weeks ago, if not longer, we got a loan with MBNA. The loan ws to be electronically deposited into our account. It still is not there. The first time, our bank rejected the deposit for some reason. The second time we were told the routing number was changed. We are still waiting for the deposit. If it is not there by next Tuesday, I don't know what we will do. Very frustrating but a good experience of the things to come.

-- Linda A. (adahi@muhlon.com), December 05, 1999.

That's what you get for dealing with MBNA. MBNA has one of the worst records for dealing with the realities of life such as processing payments, disbursing loans etc.

You might get real lucky. MBNA may well lose your account as of 1/1/2000. They are toast according to a friend of mine who is a IT with them in NJ.

-- Lobo (atthelair@yahoo.com), December 05, 1999.