PDA

View Full Version : Identity - Check Cashing?


PendO
01-17-2006, 06:33 PM
If someone writes you a check and you want to cash it at their bank ... b/c you are not sure if the check is good:

1. should you have to provide your drivers license # for the teller to write on the check?

2. how much ID information is there in your DL#?

I understand the principle behind putting your fingerprint on it, just a little uneasy about someone having any personal information just b/c they wrote you a check (ie they get the canceld check back with your personal info)

jake
01-17-2006, 06:48 PM
Given the current regulatory environment, banks have very little incentive to trust and service non-customers that walk in off the street cold. They invest heavily in knowing their own customers, and avoid conducting transactions with anonymous parties whenever possible. I wouldn't blame the bank, they are just meeting basic regulatory requirements imposed by the Bank Secrecy Act.

If you're concerned about your privacy, you could call the bank to verify funds in the account and then deposit it in your account at your own bank. Or, if you don't exactly trust the person writing the check, ask for an official form of payment.

PendO
01-17-2006, 06:50 PM
I don't have a problem with the bank having/maintaining the information, but it is borderling phishing when the party who writes you the check gets your dl#?


Given the current regulatory environment, banks have very little incentive to trust and service non-customers that walk in off the street cold. They invest heavily in knowing their own customers, and avoid conducting transactions with anonymous parties whenever possible. I wouldn't blame the bank, they are just meeting basic regulatory requirements imposed by the Bank Secrecy Act.

If you're concerned about your privacy, you could call the bank to verify funds in the account and then deposit it in your account at your own bank. Or, if you don't exactly trust the person writing the check, ask for an official form of payment.

Workin' 4 Toys
01-17-2006, 08:21 PM
Do people still get cancelled checks back these days?
We haven't in a long time. We have access if we want them, but they don't automatically get returned anymore.

Workin' 4 Toys
01-17-2006, 08:26 PM
Funny part about this, is I was just talking to a friend of mine about "fake" cashiers checks, checks and/or money orders yesterday.
If I were to take a check, he advised to make sure I take it during banking hours only so I could call the bank it's from.

PendO
01-17-2006, 08:27 PM
we get our business checks back, but my personal ones are all maintained online.

jake
01-17-2006, 08:34 PM
I don't have a problem with the bank having/maintaining the information, but it is borderling phishing when the party who writes you the check gets your dl#?

I agree, and I think you are smart to be concerned about your privacy. Even though banks don't typically return canceled checks anymore, most major banks provide access to images of the checks on-line...so same risk.

Ric
01-17-2006, 08:40 PM
in addition to getting the check images online, my statement mailed to me monthly has scanned copies of each of the checks, so it's got the same info

Workin' 4 Toys
01-17-2006, 10:15 PM
But in reality, if you REALLY want someone's info, hard how is it to get it. I have buddies that tell me there is almost nothing you can't find out there is you want it bad enough. Right?