Submitted by continue_Banca_3223 t3_yfusz7 in RhodeIsland
I had this experience recently. I don't recall ever being asked for an ID to deposit money. It was not even that much.
Comments
Unique-Public-8594 t1_iu59yh4 wrote
Citizens Bank requires ID also.
Really not sure why. Is it maybe to prevent a scam in which a fraudster puts a random number on a deposit slip to test whether it could be a valid/active account number and, if accepted, then drains the account? But I’m not sure how they could drain it with only the account number but not the name or PIN number. And not sure we want to give this stuff away on social media either!
Degothia t1_iu5ghyi wrote
Not hard. If you've validated an account number, routing numbers are easily googled. Then you just initiate an ACH / EFT debit against the account because all you need is an account and routing number.
saucyname t1_iu5t8j3 wrote
One of my banks just slaps their routing number on their homepage, not even in a sign in area.
Degothia t1_iu5thsq wrote
That's because it's not a unique identifier. Banks typically assign routing numbers by state / region the account was opened in. So for example, everyone who opens a checking account with citizens in RI has the same routing number.
saucyname t1_iu5uioo wrote
I was just pointing out the ease of acquiring them to try and set up a debit from an account once an account number is validated.
techsavior t1_iu5hd2p wrote
Bank of ‘Murica does it too. They won’t even accept a cash deposit into any account unless the depositor is also a customer.
We used to pay our rent by withdrawing it from our CU and depositing it into the landlord’s BofA rent account. When that started, I figured out how to use our CU’s people pay feature and told BofA what they can do with their “rules.”
Proof-Variation7005 t1_iu5icl6 wrote
I think it’s normal for banks to require it. You have to authorize someone to deposit money into an account. It’s weird cause I could transfer money and have it show up in their account with BOA.
Status_Silver_5114 t1_iu6lkxq wrote
Just shows how many years it’s been since I actually went into a bank…..
FNicole86 t1_iu7iype wrote
I experienced this just yesterday. I dropped my Gram off at the airport then went to Santander to deposit cash to her account. I was shocked when the lady at the drive thru told me the new rule. Never heard about it before this. Fortunately she did me a solid. Not sure what we will do in the future because i do this for her often.
EchoOfAsh t1_iu866wr wrote
Interesting, we’ve had to do it at our local branch for years now
CrimDefenseAtty t1_iu5lmr2 wrote
I spoke with someone at Citizens about this who informed me there are new FDIC regulations that got passed requiring people to present a valid ID for cash deposits. It's to combat bank fraud.