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Banking / Making Payment on a loan (1 Viewer)

SHIZNITTTT

Footballguy
So today I tried to call in and make an additional payment and due to me not knowing the exact amount we pay each month I was denied.   I told the representative in the future if anyone and I mean anyone wants to make a payment to my account to let them. I am trying to put money in not take money out.  Is this some kind of terrorist homeland security ####?  ####### banks.  

Would anyone who works in banking mind trying to explain? 

 
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I tell them the same thing when having to prove my identity for a payment. Let them pay!

I can see them not telling you the amount but just pay a round number north of that amount instead. 

 
I tell them the same thing when having to prove my identity for a payment. Let them pay!

I can see them not telling you the amount but just pay a round number north of that amount instead. 
Yeah I told them if someone was crazy enough to make a payment to my account please let them. 

 
So today I tried to call in and make an additional payment and due to me not knowing the exact amount we pay each month I was denied.   I told the representative in the future if anyone and I mean anyone wants to make a payment to my account to let them. I am trying to put money in not take money out.  Is this some kind of terrorist homeland security ####?  ####### banks.  

Would anyone who works in banking mind trying to explain? 
PIA BUT KYC (know your customer) regs have handcuffed banks.  Thank you Obama and Dodd franks.

 
PIA BUT KYC (know your customer) regs have handcuffed banks.  Thank you Obama and Dodd franks.
Bank Secrecy Act and AML/KYC cripple me on a daily basis.  We've been given, from the upper tiers of mgmt. and legal, our marching orders.  I, for one, will not jeopardize my job or become criminally negligent for failing to comply.  Any transaction outside of the normal course of business will require added layers of required info, especially if coming from outside where the loan is held.  best bet is to pay from an internal account.  i extra pay my mortgage, no questions asked, from my internal account.  paying off a secured loan early with extra payments could be money laundering via layering i believe.  dirty money used to create a lien free asset, converted to cash.

 
So today I tried to call in and make an additional payment and due to me not knowing the exact amount we pay each month I was denied.   I told the representative in the future if anyone and I mean anyone wants to make a payment to my account to let them. I am trying to put money in not take money out.  Is this some kind of terrorist homeland security ####?  ####### banks.  

Would anyone who works in banking mind trying to explain? 
I'm curious what else they asked you and you verified.  Account number? Name? Address? Partial social?  Mother's maiden name?

 
Uniting and Strengthening America by Providing the Appropriate Tools Required to Intercept and Obstruct Terrorism!

 
Juxtatarot said:
I'm curious what else they asked you and you verified.  Account number? Name? Address? Partial social?  Mother's maiden name?
They needed my name, dob, ss#, address, exact amount I pay each month. 

 
I logged in to pay my lease payment earlier this month & it never went through. Thank god I checked yesterday b/c it's due on the 30th. I called to see what happened & was told my bank told them bad account #. So no one was going to let me know? Morons.

 
Just a guess...maybe if someone was trying to steal your identity, they could attempt to make a small payment on your loan so that they could be sure they had all the right info, before they tried to steal from you.  

 
probably denied because they thought you were making a phishing attempt

"i'd like to make a payment on my account.... my name is..... and while we're at it, can you transfer money from my checking account to my account at XYZ Bank in Nigeria....."

eta: @Thorpe beat me to it

 
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Chemical X said:
Bank Secrecy Act and AML/KYC cripple me on a daily basis.  We've been given, from the upper tiers of mgmt. and legal, our marching orders.  I, for one, will not jeopardize my job or become criminally negligent for failing to comply.  Any transaction outside of the normal course of business will require added layers of required info, especially if coming from outside where the loan is held.  best bet is to pay from an internal account.  i extra pay my mortgage, no questions asked, from my internal account.  paying off a secured loan early with extra payments could be money laundering via layering i believe.  dirty money used to create a lien free asset, converted to cash.
This is a good post.  Not only does the various bank regulating entities drown banks with regulations and requirements, they often do so in terms that require each bank to individual interpret those rules and regulations.  This requires banks to come up with their own processes and procedures to follow the sometimes vague regulations.  When fines for not following the regulations can get into the tens or hundreds of millions, banks are forced to be overly cautious, and sometimes require more information than an otherwise reasonable person would think should be required.

 
As a workout officer, it is my job to resolve many a loan, mostly by having the loan paid off.  this can come in any number of ways,  but then imagine telling someone you told to pay you off and get out that you won’t accept the payoff until all AML guidelines are cleared.  

 
I logged in to pay my lease payment earlier this month & it never went through. Thank god I checked yesterday b/c it's due on the 30th. I called to see what happened & was told my bank told them bad account #. So no one was going to let me know? Morons.
Oh a letter would have arrived to tell you in about 60 days

 

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