Just got back from Chase "we are going to have to hold your $3000 check"

[TwixVoy]

Well I just got back from my former WAMU (now Chase) bank branch.

I walked in with a $3000 cashiers check drawn on Navy Federal Credit Union.

Here is my history with them. I have had a WAMU deposit account for over 5 years. I have moved thousands of dollars in and out of that account over that time period. I have NEVER had a bad check. I have NEVER overdrafted. I am financially responsible.

I have ALSO had a deposit account with Chase before they took over WAMU for almost as long. Same story. NEVER had any kind of negative activity on the account.

I have a freaking $8000 line of credit with Chase that has a ZERO balance and has rarely been used, and NEVER had a negative activity with the account.

My credit reports have ZERO negative information. I have never so much as paid a bill late in my life. (I realize they are not pulling a credit report here, but I am just trying to convey that their computers should not have any kind of red flag on me for anything)

So I hand the teller my cashiers check. He runs it through and says "Oh the computer is saying we have to hold this for 14 days due to the amount of the check". I am thinking to my self "WTF?".

I tell him that this is odd because I have deposited much larger checks than that in the past and have never had them held. I ask him "Do you see that I have an unused $8000 line of credit with you?" He says "Yes I do." I say "Well if the system is worried I am trying to deposit a bogus $3000 check, wouldn't it make more sense for me to cash out that line of credit and take the money instead?"

He tells me he understand the logic of that, but that this is something they are doing with everyone. I tell him fine hold it.

Gosh Chase bank sure is a little fast to hold on to our money for 14 days for a bank that is just positing a surprising "profit". So they are so paranoid about a $3000 (CHUMP CHANGE) cashiers check written from a major credit union being bad that they have to hold it? One someone with a spotless history with the bank? On someone who has a larger than $3000 line of credit with them? They can trust me with an $8000 credit line, but not that my $3000 cashiers check will be good?

We are in for some serious problems if this is how bad the banking system has gotten.