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Old Feb 16, 14, 11:36 pm   #1
 
Join Date: Apr 2012
Location: Austin TX
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Chase cash deposit, show ID policy

Anyone else notice a new Chase policy for cash deposits? I mostly ignore the messages that pop up when I'm looking at my account. So this one might not be that new. No $ amount, just 'cash deposits.'

Only account holders may deposit cash into personal accounts, all cash deposits will require you to show ID.

The bitcoin community feels this is a response to the use of Chase to sell bitcoins, but they use buisness accounts so this will not really effect them. Silly bank.

Don't think this matters in terms of MS, but thought it might concern someone if they were not aware of the new policy. So no worries if Chase asks to see your ID when you deposit cash.
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Old Feb 16, 14, 11:47 pm   #2
 
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Probably part of the money laundering settlement and know your customer rules.
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Old Feb 17, 14, 6:03 am   #3
 
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A manager at a nearby branch told me that they had experienced some issues with respect to counterfeit bills.
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Old Feb 17, 14, 7:26 am   #4
 
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I saw the small signs inside the bank posted with that information. I am glad to know I have to show my ID now as official as I often bristle when I am asked for it when I am depositing (not withdrawing). Thanks haleyb.
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Old Feb 17, 14, 7:36 am   #5
 
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I think this might be YMMV, Just last week in NYC i had no problem depositing 7XXX in fresh 100' bills. No id needed, maybe its just my pretty face.
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Old Feb 17, 14, 8:21 am   #6
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My Chase branch told me the new policy is that you must have an ID or your Chase debit card with you to make a cash deposit.
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Old Feb 17, 14, 9:58 am   #7
 
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Chase cash deposit, show ID policy

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Old Feb 17, 14, 10:17 am   #8
 
Join Date: Apr 2012
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Quote:
Originally Posted by babalooie21204 View Post
I think this might be YMMV, Just last week in NYC i had no problem depositing 7XXX in fresh 100' bills. No id needed, maybe its just my pretty face.
Chase is rolling it out, all branch's by March 3rd.

Here is a link to Fox News story.

They cite ML risks. It is all about liability, since you can still deposit a MO in another persons account. The only thing this rule addresses is Chase being on the hook for taking cash deposits and not reporting properly.

Last edited by Haleyb; Feb 17, 14 at 10:27 am.
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Old Feb 17, 14, 12:39 pm   #9
 
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Oh, my, Jaime Diamond by the nape or the suspenders.

The Fed can do just about anything to JP now...

And, with that, I plan to liquidate my last MO for two weeks and take it straight away to Chase before my branches start getting strict.

Chase is open today...
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