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Commerce Bank: new policies for withdrawals


LNY
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Went into my branch today to withdraw money (more than the ATM would allow) and was informed that they no longer offer checking account withdrawal slips. From now on, if you wish to withdraw money from your account, you must WRITE YOURSELF A CHECK.

First, I didn't have my checkbook with me. Second, I couldn't find my checkbook if they offered me a cash reward for it--I do EVERYTHING online. (Somewhere in one of about 20 purses, I assume, is the same checkbook I was issued in 2003.) Third, I don't remember being notified of this new policy.

Anyone else hear about this?

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Actually, in the past, a lot of banks used to be that way...

One of the reasons a lot of people don't hear about it much these days is because it is a big pain in the [EXPLETIVE DELETED]. The better banks know that this is VERY user-UNfriendly.

And some banks are just anal.

I still have a bank that does that and it is a big pain. However, one time I thought I had my checkbook and didn't, they told me that they could issue out a temporay check (almost all banks can issue out temporary checks) and then I could use that to write a check.

Unfortunately, your bank has decided to stick its head up its [EXPLETIVE DELETED]...

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Of course, if they're really anal, they'd CHARGE you for the temporary checks for you to write one out to "cash".

If they did notify you of the change, they'd do it in small print on your statement, or a disclosure addendum. (Most people do NOT read the small print.)

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That would be my bank too here in PA. They do however have an ATM right in the lobby. so if you need to take out less than $500 or $1000 depending on your daily limit, you're still good to go. Any more than that, and I guess I'll bring my checkbook for now on.

Thanks for the heads up.

By the way, this is the P.O.S. bank that denied me for secured loan about 9 months ago and told me "they don't do credit repair". Needless to say, all of my savings with them were withdrawn and closed. I only use them for checking & ATM because they are on every corner, and they don't charge a dime when I use anyone's else' ATM. Also, some of the convenience stores around here lure in customers with free ATMs, so even if there is no Commerce Bank around, I can withdrawal $ almost anywhere without paying a fee on either side of the transaction.

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Sounds reasonable, but I think I can top that. Went into INGDirect's Cybercafe at their Wilmington headquarters recently and was required to present driver's license which they photocopy before they would accept a check deposit to an existing account which had been open for several years! Plus, to make matters worse, no more FREE coffee! God forbid, you'd probably be photographed and finger printed if you ever tried to make a withdrawal!

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  • 2 weeks later...

No more free coffee...

One of my banks gives away free popcorn and apples on a daily basis. Now that is a cool deal...

They have the popcorn in the small popcorn sacks in a basket and the popcorn popper is out of reach from the customer. And oftentimes when the basket is empty, I will tell the teller to replenish it with more popcorn. That annoys the customers waiting in line behind me but I figure that the popcorn is one of my perks in banking there and I am not going to miss out on it...

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I have worked in Five different banks over a 20 year period.

One was a tiny unit bank in Washington DC, two were small regional banks in Washington DC and two were large money-center banks in NY.

I have never seen a checking account withdrawal slip. Technically, (as per UCC Article 9, subsections 3 & 4,) by definition, withdrawal slips only apply to savings accounts. There is no such thing as checking account withdrawal slip. A checking account is a Demand Deposit Account or a DDA.

A DDA withdrawal is a demand for payment, (it doesn't matter who is the payee- you or the electric company,) also known as a check.

Checking account withdrawal slips were an invention of cost conscious mangers who knew that their bank paid more to process checks than withdrawal slips. (Back in ye olde days before hot and cold running water and horseless carriages...) This is no longer true, in fact NOW they say withdrawal slips cost MORE to process than checks...

In all of my training classes we were taught that free branch supplied withdrawal slips and counter-checks are the source of 90% of the small time fraud losses. Hence the reluctance to hand out counter checks and bank forms... Nowadays my bank requires a thumb-print on the check or savings account withdrawal slip to get any cash in the branch. Within five to ten years retina-eye scans or other bio-metric ID methods will be required for withdrawals and for CREDIT APPLICATIONS.

If you opt for the cheapest safety paper checks then most banks won't charge for them, or use your ATM card at the outside ATM.

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BofA here doesn't keep withdrawl slips of ANY kind in the lobby stations anymore. They do keep deposit slips out. I can get a withdrawl slip, but you have to ASK for it. Writing a check to cash is just as easy and the cost is what.. 2-10 cents ? I buy my own checks but I write so few these days it hardly matters if I have to write one to cash. I do 99% of my transactions with my debit card or thru on-line bill pay. The only time I write checks any more is for my hairdresser, my nail tech, the shoe repair guy who won't take even a debit card, and my avon lady.

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They've always had checking and savings withdrawal/deposit slips in the lobby. Until this month. Anyway, I can't use the ATM to take out $1600 (my landlord likes to be paid in nice, unknown-to-the-IRS cash). So I had to tear the place apart searching for my checkbook, which I never use. Seriously, I'm still on my first pad of checks from Sept. 2003, when I opened the account. I just don't write checks.

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