Personal Finance

New law or just nosy bank teller?

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  • Aug 15th, 2021 1:10 pm
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Sr. Member
May 7, 2015
951 posts
1529 upvotes
Toronto, ON
KanataKG wrote: Why is everyone so uptight about tellers asking questions... Are people afraid to say where it came from?

Fact is, tellers don't give a shit about where it came from.... Not for AML purposes, not to prevent fraud, not to track income from illegal businesses. Submitting an AML/suspicious transation report is literally as simple as clicking a button. There's no need to ask or notify the client at all.

They are front line workers who literally do nothing all day but withdraw/deposit/bill payments. This is almost like a grocery store cashier asking what you're going to make with the ingredients you're buying.

The difference with tellers is that they have sales targets. They lose their annual bonuses if they don't hit these targets... The only way to hit sales targets is to talk to clients, get to know them, and hopefully score a "sale" by getting them into an advisor's office.

The simplest explanation is often the most likely.... In this case, it's sales targets.
Just responding to the question of why…
Because it’s none of their business, Plain and simple.
If it’s their job to ask a question I don’t like, then suffer the consequences. I don’t have an obligation to be understanding or compassionate .
Sr. Member
May 31, 2017
714 posts
1005 upvotes
KanataKG wrote: Why is everyone so uptight about tellers asking questions... Are people afraid to say where it came from?

Fact is, tellers don't give a shit about where it came from.... Not for AML purposes, not to prevent fraud, not to track income from illegal businesses. Submitting an AML/suspicious transation report is literally as simple as clicking a button. There's no need to ask or notify the client at all.

They are front line workers who literally do nothing all day but withdraw/deposit/bill payments. This is almost like a grocery store cashier asking what you're going to make with the ingredients you're buying.

The difference with tellers is that they have sales targets. They lose their annual bonuses if they don't hit these targets... The only way to hit sales targets is to talk to clients, get to know them, and hopefully score a "sale" by getting them into an advisor's office.

The simplest explanation is often the most likely.... In this case, it's sales targets.
It is almost assuredly this…tellers have targets for promoting services and they likely were trying to gauge if you were a candidate for any of them.
Deal Expert
Dec 5, 2006
16792 posts
12575 upvotes
Markham
moeymoeymoeymoe wrote: Just responding to the question of why…
Because it’s none of their business, Plain and simple.
If it’s their job to ask a question I don’t like, then suffer the consequences. I don’t have an obligation to be understanding or compassionate .
If you do business with them, it is their business

You can go other places, just don't assume other places won't ask

People think they own the money, so it's not others business, it's very wrong: it's CRA's business to charge your tax, it's bank's business to comply AML, bank constantly run models to decide whether to offer you something.

Let's be realistic
Deal Addict
Jul 16, 2019
1648 posts
865 upvotes
I withdrew 10K and not a question was asked. They did ask a question before because my current account balance was temporarily large - teller wanted to setup a meeting with a advisor in case I wanted to know about investments.
Sr. Member
May 7, 2015
951 posts
1529 upvotes
Toronto, ON
smartie wrote: People think they own the money, so it's not others business, it's very wrong: it's CRA's business to charge your tax, it's bank's business to comply AML, bank constantly run models to decide whether to offer you something.
I think this is the core of your argument,.

My obligation is to the CRA, and to declare income, and pay tax.
Their obligation is to the CRA to practice ALM.

Where is my obligation to the bank here?
They WANT to ask me in order to satisfy their requirement for ALM. But its not their business what i do with my money. they can run models, they can assume, they can even ask but if they are told to "eff off because its not their business", then thats not wrong.

"People think they own the money, so it's not others business"
People do own their money, and its not anyone elses business what they do with it.
Deal Expert
Dec 5, 2006
16792 posts
12575 upvotes
Markham
moeymoeymoeymoe wrote: I think this is the core of your argument,.

My obligation is to the CRA, and to declare income, and pay tax.
Their obligation is to the CRA to practice ALM.

Where is my obligation to the bank here?
They WANT to ask me in order to satisfy their requirement for ALM. But its not their business what i do with my money. they can run models, they can assume, they can even ask but if they are told to "eff off because its not their business", then thats not wrong.

"People think they own the money, so it's not others business"
People do own their money, and its not anyone elses business what they do with it.
First, OP said bank asked where money is from, not how will He spend if that what you meant what to do with money

And bank does ask questions who you send money to and for what purpose sometimes if you transfer a large money to oversea to comply AML

Your obligation to the bank is in Terms and conditions. If you think you enter a contract with bank for business and you have no obligation to them, it's not realistic

This could be a good read

rbc-royal-bank-canada-suddenly-closed-m ... s-2228161/
Deal Expert
User avatar
Jan 27, 2004
52937 posts
18146 upvotes
ONTARIO
moeymoeymoeymoe wrote:
I think this is the core of your argument,.

My obligation is to the CRA, and to declare income, and pay tax.
Their obligation is to the CRA to practice ALM.

Where is my obligation to the bank here?
They WANT to ask me in order to satisfy their requirement for ALM. But its not their business what i do with my money. they can run models, they can assume, they can even ask but if they are told to "eff off because its not their business", then thats not wrong.

"People think they own the money, so it's not others business"
People do own their money, and its not anyone elses business what they do with it.
smartie wrote: First, OP said bank asked where money is from, not how will He spend if that what you meant what to do with money

And bank does ask questions who you send money to and for what purpose sometimes if you transfer a large money to oversea to comply AML

Your obligation to the bank is in Terms and conditions. If you think you enter a contract with bank for business and you have no obligation to them, it's not realistic
Its true... and the funny part is... If you give a bunch of attitude... think of it this way.
Now the teller is thinking "Customer is acting defensive and suspicious whenever asked about cash deposits". In AML class 101... the #1 red flag is a person who gets defensive and gives attitude when asked about source of funds.
Sr. Member
May 7, 2015
951 posts
1529 upvotes
Toronto, ON
UrbanPoet wrote: Its true... and the funny part is... If you give a bunch of attitude... think of it this way.
Now the teller is thinking "Customer is acting defensive and suspicious whenever asked about cash deposits". In AML class 101... the #1 red flag is a person who gets defensive and gives attitude when asked about source of funds.
So for me I’ve only been asked on withdrawal. I’ve never been asked on deposit
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User avatar
Jan 27, 2004
52937 posts
18146 upvotes
ONTARIO
moeymoeymoeymoe wrote: So for me I’ve only been asked on withdrawal. I’ve never been asked on deposit
OOHH. Because you take too much.
The real reason is because physical cash isn't used that much, and banks only keep a limited amount on hand.
They actually do end up giving it to the people who whine and complain a lot. But then the branch ends up running out of money!
I bet if you asked for a bank draft instead of all that money, they wouldn't have said anything.
Member
Oct 8, 2020
297 posts
444 upvotes
Ottawa
I went to Vegas a few years ago for a weekend. I withdrew $500 US, won a jackpot, and deposited $3,500 US upon my return. They thought this was really suspicious and asked for proof that I was in Vegas.

I use the app Checkout 51 which has been around for years and I get $20 cheques from them every couple of months. Every single time, the teller asks me if I know the sender. When I explain what Checkout 51 is, they ask "Are you sure it's not a scam?" and want to know when I previously deposited their cheques and if they cleared. I've been deposited their cheques for 5 years and not a single one has bounced but tellers are always suspicious.
Deal Fanatic
Apr 5, 2016
6116 posts
4613 upvotes
Calgary/Vancouver
UrbanPoet wrote: Its true... and the funny part is... If you give a bunch of attitude... think of it this way.
Now the teller is thinking "Customer is acting defensive and suspicious whenever asked about cash deposits". In AML class 101... the #1 red flag is a person who gets defensive and gives attitude when asked about source of funds.
There's a teller at one of our branches that love to send those UARs. He even got recognized for it by VP. He will send one for every customer that is defensively and refuse to answer questions. Romance scam is on the rise and he reports every single one. IIRC, I think he got a few clients demarketed too LOL.
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User avatar
Jan 27, 2004
52937 posts
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ONTARIO
bomber17 wrote: There's a teller at one of our branches that love to send those UARs. He even got recognized for it by VP. He will send one for every customer that is defensively and refuse to answer questions. Romance scam is on the rise and he reports every single one. IIRC, I think he got a few clients demarketed too LOL.
Romance thing is crazy. But you can’t stop people from burning their money… they truly are brainwashed.
Deal Fanatic
Apr 5, 2016
6116 posts
4613 upvotes
Calgary/Vancouver
UrbanPoet wrote: Romance thing is crazy. But you can’t stop people from burning their money… they truly are brainwashed.
Yah man. I overheard the Personal Banker trying to talk this guy out of redeeming the entire $300k RRSP so that he can wire it over to some "fiancé" in Germany. The wire transfer instructions are to be sent to a bank in Somalia and he didn't suspect a thing LOL. Man the tax hit on that thing is gonna kill him too.
Deal Expert
Dec 5, 2006
16792 posts
12575 upvotes
Markham
bomber17 wrote: Yah man. I overheard the Personal Banker trying to talk this guy out of redeeming the entire $300k RRSP so that he can wire it over to some "fiancé" in Germany. The wire transfer instructions are to be sent to a bank in Somalia and he didn't suspect a thing LOL. Man the tax hit on that thing is gonna kill him too.
You'd think people who has 300k RRSP is smarter than average Joe

"Average amount of $112,295 held in RRSP accounts in 2020, a 3.3 per cent increase since 2019"

https://www.newswire.ca/news-releases/b ... 23189.html
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Jan 27, 2004
52937 posts
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bomber17 wrote:
Yah man. I overheard the Personal Banker trying to talk this guy out of redeeming the entire $300k RRSP so that he can wire it over to some "fiancé" in Germany. The wire transfer instructions are to be sent to a bank in Somalia and he didn't suspect a thing LOL. Man the tax hit on that thing is gonna kill him too.
smartie wrote: You'd think people who has 300k RRSP is smarter than average Joe

"Average amount of $112,295 held in RRSP accounts in 2020, a 3.3 per cent increase since 2019"

https://www.newswire.ca/news-releases/b ... 23189.html
Its not a smart of a dumb thing. Its like a brainwashed fantasy.

this was based on a true story
https://en.wikipedia.org/wiki/Who_Is_Cl ... efeller%3F
But its like the real life version... Everyone got hooked into this story of a grand rich socialite. But it was a con.
Sometimes I think when people fall for a romance scam, they're falling into something like those extreme con man thing. Except it isnt so extreme... Some people just fall for it.
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User avatar
Oct 14, 2001
1754 posts
589 upvotes
GMA
Most of these annoying questions are pure BS and they hide behind fraud and illegal behaviors but they conveniently forget that they're not the police.

I used to take care of cashflow from my mother and whenever I went to the bank on her behalf, I got these looks and questions from any of employees (it was a National Bank branch) and everytime, I politely refused to respond telling them that where the money is coming from is none of their business. If they think that anything fraudulent or illegal is happening, they should call the police instead of playing wannabe cops.
Member
Dec 31, 2011
430 posts
508 upvotes
ETOBICOKE
Who cares, it's not like there isn't a thousand other banks to go to if one doesn't.want the business. I've never been asked as I generally don't deposit cash but it really isn't their business when most banks are busy turning a blind eye to real money laundering while harassing some guy depositing $2000 from a Kijiji sale. It's not in good faith.
Last edited by dan2011 on Jul 17th, 2021 2:08 pm, edited 4 times in total.
Deal Fanatic
Nov 22, 2015
7851 posts
8801 upvotes
Thanh wrote: Most of these annoying questions are pure BS and they hide behind fraud and illegal behaviors but they conveniently forget that they're not the police.

I used to take care of cashflow from my mother and whenever I went to the bank on her behalf, I got these looks and questions from any of employees (it was a National Bank branch) and everytime, I politely refused to respond telling them that where the money is coming from is none of their business. If they think that anything fraudulent or illegal is happening, they should call the police instead of playing wannabe cops.
They aren't playing wannabe cops lmao. Tellers don't care about any of that crap, with the exception of maybe senior scams. Reporting suspicious activity is literally the click of a button... They don't have to ask you questions at all

They are asking questions to try to build rapport and try to get you to book an appointment with a financial advisor. They all have sales targets they need to hit.
Jr. Member
Oct 26, 2020
128 posts
188 upvotes
Use the ATM next time. It's sad that a machine provides a better experience...
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User avatar
Sep 14, 2012
3444 posts
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Montreal, QC
hierophant wrote: Why not use an ATM ? I avoid tellers whenever I can.
I'm not the original poster and while I might trust an ATM with depositing a cheque, I wouldn't trust an ATM with depositing cash.

Yes, I know that most/all banks have at least 2 bank employees count the cash for the ATM deposits and the location is recorded but there have been times when I miscounted my money and doing it with the teller, the teller has pointed it out to me.

That being said, I've had what I would consider nosey questions when I've deposited cash when I was younger or withdraw certain amounts of cash currently.

When I was a lot younger, I was being paid cash and the teller (TD Canada Trust but at that time, it was called Toronto Dominion Bank) asked me about it a few times as I was depositing various amounts at a somewhat regular interval. I just mentioned that it was my pay and the teller asked if I was interested in applying for a credit card with the bank. I said yes but because I was being paid cash and I was 18 or 19 (18 is the age of majority in Quebec) and I didn't have any credit score, I was declined.

Nowadays, I'm asked occasionally when I make a withdrawal of a "fair amount" of cash what I'm using the cash for. For example, I generally withdraw $100 USD/day for a planned vacation to the US and my typical vacation is 7 days so this represents a withdrawal of $700 USD and I've been asked about it. I've also withdrew ~$1000 CAD for payment and been asked about it. It doesn't really bother me much. For the large amount of USD, I just tell them that I'm going on vacation. They will then ask me to apply for their credit card to which I will tell them I already have credit cards and don't want their credit card. They will also offer me American Express Traveler's Cheques and I tell them that I have less issues with using cash than finding a business that will take the American Express Traveler's Cheques. At that point, they then go to a room and bring my USD for me. With the large CAD withdrawals, I just tell them it is for a payment or gifts. I believe that they are asking this just to make sure that I'm not falling for one of the many scams.

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