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Here is my rant with banks lately.

(1) Memorial weekend I purchase a vehicle from out of state. The current owner has a lien on it from a bank in another state, he's in college in OH and from Indiana.
So I take a day off of work , get the cash in the form of a cashiers check , and head off. The plan was to go with him to his bank, deposit the cashiers check into his account , wire transfer the money to the lien holder and then get a release of lien faxed back and then be on my merry way. WELL , I guess cashiers checks aren't what they used to be. There had to be a 5 day hold on the check to make sure it cleared. So I ended up taking the car with no title , and that turned into a headache because the owner ended up spending some of the money and I didn't get the title for 3 weeks.

(2) I basically get my savings account shut down because I had too many "online transactions" in one month. what a pain in the *** , I had to close the savings account and reopen a new one.

(3) I sold my boat, and the new owner brought a cashiers check (he had to finance some of it) . So I told him about the 5 day hold thing and confirmed with my bank that as soon as it clears they will fax me a release of lien and then the new owner can be on his way. I'd mail the original as soon as I got it. Well I made some calls to my bank just to confirm this and basically got 4 different answers, one of them being after the 2-5 day hold on the check , it would be ANOTHER 10 day's till they released the lien. I basically went off and told them this would probalby make or break the deal and that it was unacceptable. I understand the 2-5 day hold on the check (I guess) and the additional day's for the release is just BS. Finally they agreed to faxing me a release as soon as the check clears.

I understand that cash transactions with items that have no lien are always the way to go but it just doesn't always happen that way. It's just so frustrating sometimes.
 

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It's because of Scams !

Same reason insurance can be a pain in the azz !

Many fraudelent cashiers checks out there !

Money's tight and people in the biz aren't willing to deal with anymore of these possibilities.

No one trusts anyone anymore and I don't blame them.

My wife is an officer of her bank and you would not believe - okay you might believe - the stuff people try to pull and sometimes do get away with.

Sickening.

We are all victims. :angry1:
 

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Thats nuts! when i sold my dually they guy brought a cashiers check to the bank that had the lien on my truck...we both went in...he gave the bank the check....they signed off on the title....then i did...and the bank cut me a check for the balance....all said and done inside of 15min! I didnt have any other accounts with the bank either...
 
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