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I’m Exhausted With Banks Treating Me Like A Criminal

Posted by on | July 16, 2018 | Comments Off

For 15 years I have been a customer of El Dorado bank in a small town in California, just depositing our weekly revenues in the account and sweeping it out from time to time.  When Bank of America closed a few locations we use in other California small towns, it seemed easier to just add additional El Dorado accounts.  WRONG.  I was told today that because we might possibly maybe make three simultaneous deposits at the three banks that total to more than $10,000 in cash in one day, we suddenly are subject to all sorts of disclosure requirements.  I am used to having my privacy raped as a business owner to set up even a simple banking relationship, but now apparently any employee of mine who might make the weekly deposit is going to have to submit all sorts of personal information, including social security number, to the bank just for the ability to deposit money.  We have been doing the same business with El Dorado for nearly 20 years, and suddenly in the little town of Lone Pine, CA, population 2035, we are now treated as presumptive drug dealers and tax evaders.  It aggravates me that I have to put my employees in this position.

It used to be that it was easier to have fewer banking relationships to manage, but now I am thinking the costs may be running the other way, encouraging more smaller banking relationships that don’t trigger whatever limits are set for treating customers as presumptive criminals.

 Im Exhausted With Banks Treating Me Like A Criminal  Im Exhausted With Banks Treating Me Like A Criminal  Im Exhausted With Banks Treating Me Like A Criminal

 Im Exhausted With Banks Treating Me Like A Criminal

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