I got a $ 4,000 tax refund. I had it direct deposited to my account. Immediately when I saw it hit, I went on a shopping spree, like most people do when they run into large amounts of cash. I bought a wii, wii fit, xbox 360, ps3, nokia e71, paid my cable bill, tivo service for one year, and withdrew the rest in cash from the ATM. The bank called me and said that it is rather suspicious behavior. I explained to them it was my tax refund, but they want to know why i spent it so quickly, then withdrew the rest in cash. I told them it is my money and I'm free to do as i wish with it. I don't understand why they are acting like this. Don't most people go on shopping sprees when they see 4 grand hit their bank account? They want me to come into the bank. I already stopped my paycheck from being direct deposited in case they try to hold that money hostage. Why is the bank acting like this. my account is not over drawn. it has $ 30 in it right now, and im holding the $ 1600 that i havent spent yet in cash.
Well, i have debt but i only make the min payment. I may not even pay next month. I'm also getting a financial aid refund for another $ 4,000. Im gonna spend it the same way, but this time im cashing the check instead of letting it get deposited.
btw, i normally cannot afford nice things like this. I deserve it. how else am i supposed to get this stuff if i dont buy it with my tax refund.
wait, its none of their business what i spend my cash on. I have a constitutional right to privacy.
how does buying things that i want make me a criminal? I never get the chance to go on this kind of shopping spree.
The bank is now asking I re-Deposit the 1600 I took out of the ATM. I have a right to my own cash and to secure it from authorities dont i?
rotorhead
So much for saving for a rainy day.
Don't you see the storm clouds? Hell, it's raining hard in my area. Over 10% unemployment.
slykitty62
Because when someone fraudelently uses another's card, they often spend quickly and withdraw cash. It looks suspicious to them. Speaking as someone who has had that happen to them, I am dang glad that they do this.
If I were you, I would bank the rest of the money again for a rainy day.
I shoot criminals
If I had gotten 4k I would have never went nuts like you did. I also wouldn't have kept it in the bank. If the bank called me like that, I would tell them to bugger off and mind their own business.
Cindy B
They probably just want to verify that you are the actual account owner, anyone could answer your phone and say they are you. You should just take your ID and go to the bank to prove that it was you who spent the money.
No, most people don't spend 4k in one shopping spree unless they have no other responsibilities It is great that you didn't need the money to pay off any debt, but it will be another year before you get another tax refund, that is a long time before you get another spending spree.
Good Luck
Wounded Duck
This type of account activity is typical of fraud. The bank was doing YOU a favor by watching out for suspicious activity. In response to "Don't MOST people go on sprees", No, they don't. Seems rather childish and immature given the economic situation the country faces.
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It could be a fraud alert to them, which you should be thankful for.
The other alternative is they are doing what they are required to do to fullfill their obligations to the Patriot Act. For all they know, you could be buying bombs to set off at the local mall.
All financial firms, including banks, brokerage firms, insurance companies, etc must have systems in place that 'notice' things like this, then they must ask these questions. People have had their funds frozen for not complying. Just tell them what they want to know and be done with it
They're not trying to harrass you, they're just doing their job. It may not be right, or any of their business, but they are required to do this.
Look up the Patriot Act for more info.
I do agree with the above poster. It is indeed quite childish and frankly, anyone spending that much money on those specific items you bought, well, is most likely a criminal. No offense, but it's just the truth.
Pat
Tell the bank manager that if they don't stop harassing you, you will file a complaint with your state Banking Department.
Then do it.
go to www.usa.gov.
In the right hand column, click "state government".
Then click your state.
Follow the links to the state Department of Banking, or some such title.
If you can't find an agency that seems to fit the topic, email the governor's office and ask where to file your complaint.
EDIT - Have you actually gone to the bank in person and talked to the MANAGER? This is starting to sound like an email scam.
The bank has no business telling you what you can do with your money.
AND NEITHER DO THE PEOPLE ON YA.
tonalc2
Your activity is very unusual for your account, and they just want to verify that you are indeed the account holder and the circumstances.
I would be very grateful that the bank is keeping an eye on your account. If someone had stolen your ID/bank info, they could have done such a spree before you knew anything about it.
Handey Randy
Don't let the naysayers get you down. You did a patriotic thing by going on a shopping spree, and stimulating the economy. Tell the bank to stick it. It's none of their business.
Hang on to the rest for a rainy day. You never know when you might need it.
jackson
To be honest most people don't go on a spending spree. It is your money and spending it does not mean that you are a criminal..... it is a security measure.
I have a ton of money in the bank. But if the bank sees multiple charges rather quick it can flag. They want to make sure that someone has not stolen the card.
A very big flag on the computer is buying a lot of electronics. People who steal cards or numbers generally run out and buy those things that can be sold.
You took out a big wad of cash. People who have bank cards have no real reason to do that. Use your card to pay for whatever and pull a bit out in cash when needed. But that much is of course suspicious.
You get the drift..... you do indeed look like a criminal but they are only giving you issue in order to protect you. You canceling direct deposit compounds it.
Call the bank or go there.
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