In this a universal(ly) (annoying) banking policy??

powned

Its not often I make a large withdrawal but on the last few occasions I have, the bank staff member has asked me what I'm spending the money on. This has happened at 3 separate banks over the last year or so.

I don't mind small talk but i'd rather it wasn't about my personal finances in the middle of a busy bank, first time i was a little taken back so i just said that it was personal - the cashier didn't look too impressed, so today I jokingly said 'its necessity rather than luxury I'm afraid' - that went down a bit better.

Has anyone else noticed this? Does it bother you? Is it just small talk or are staff encouraged by the bank to ask just in case you say your donating it to Al Qaeda or something?

Its not a big gripe or anything... just strikes me as a little bit odd, I wouldn't expect the checkout person at Tesco to ask who im going to be using those feather lite ribbed johnnies on. The weather is an adequate topic imo.

Evilm

I think its a "protection" thing. Especially with Elderly people there has been a lot of talk about how the banks could help prevent them getting fleeced by unscrupulous scammers if the banks just asked a few questions and pointed out to them to be careful about who they give their money to.

(Not that I'm suggesting you are elderly at all but I think some banks have made it a standard question when drawing large amounts of cash).

opinions4u

Protecting the customer.

Anti-money laundering regulations.

Identifying better / safer ways of doing the transaction.

Identifying sales opportunities.

Old_Wrinkly

opinions4u wrote: »

Protecting the customer.

Anti-money laundering regulations.

Identifying better / safer ways of doing the transaction.

Identifying sales opportunities.

2 and 4 certainly (primarily 2).

3 possibly (particularly if they can get, say, a CHAPS payment)

1 - I don't think so ...

thatsean

Once I said it was for a car - this was deemed acceptable, the second time - I went for a bit of humour "lots of drugs and a reasonably priced wh0re" says I. Awkward was the word du jour...

It's likely so they can sell you a bond paying !!!! all to keep it in..

skid112

it is for Anti Money Laundering purposes, most banks have 'floor' limit, the amount that you can draw without getting asked. This has been lowered over the years my own bank now routinely asks if its £1000. Mentioning drugs is old hat to most cashiers tho if they take a dislike to you they can easily report you and reporting is down to the individual you speak with.

powned

opinions4u wrote: »

Identifying sales opportunities.

Makes sense, the guy in front of me got a five minute sales pitch for volcano insurance (or something equally useful), whereas i wasn't pestered at all, i will be taking the cryptic approach from now on.

a) My money is none of their business despite what they may think. b) if i want to be advertised to i will watch channel 5

kevin52

Do criminals always tell the truth then?

opinions4u

Old_Wrinkly wrote: »

1 - I don't think so ...

I've certainly "saved" a couple of old codgers from paying £thousands for a tile being replaced by rogue traders.

Do criminals always tell the truth then?

No, but if the staff member could be shown to have been negligent to ML Regulations in some way then they are committing a criminal offence.

simax

Would they mind if you replied "Mind your own business"?

DrSyn

I have found this to be increasingly common. I think it is because they have been told to sell at every chance. That their jobs are at risk if they do not hit targets imposed on them by their managers. Also they might make some commisson.

The bosses now think of banks as cross selling platforms, with money operations attached. Instead of the other way round.

I hate it.