I moved a CD account ... thought it would be fun to withdraw $8,000 in cash and walk over to the other bank. (I know of the cash reporting limit) Never again unless the EOTWAWKI is happening. It was quite a wad in hundred bills. Counting the bills out and in was a long process. Wasn't as fun as I thought it would be. I'm sure the tellers didn't find it fun either.
I did something similar once. Seven grand in cash is quite a wad. I didn't need to experience it again, though. The next transaction that size, I went right for the cashier's check.
If they tell you the minimum payment, I think they are telling you the balance, since they use a formula to calculate minimum payment. I don't know the formula, but you could extrapolate it using your own balance and minimum payment, if you have a card through the same company. Of course, you would have to assume a specific interest rate.
We banked with a big bank (not BoA) that had two branches two miles apart, which we came to refer to as the Can Do Bank, and the Can't Do Bank.
The Can Do Bank could do regular deposits and withdrawals, withdrawals of large amounts, cash local paychecks, cash locally written personal checks, etc without a problem. Once they knew you, you didn't even need ID.
The Can't Do Bank couldn't manage to do much of anything except small withdrawals and deposits. Cashing a small check written to you from another person's local personal account at another bank was put on hold for 24 hours, cashing a local paycheck became impossible because they were put on one day hold (3-5 days for out of state paychecks) unless you used their direct deposit, they couldn't process any withdrawal over $3K for at least a day beyond the written slip being tendered, ID was always required even though they had known us for years, deposits ended up placed in another person's account, and your private banking business was being broadcast all over the bank every time you banked there.
We finally gave up and moved our money to a small, local bank. After we registered there, the bank manager told us we were the eighteenth account in three weeks to have migrated over to them from the Can't Do Bank. Then we got a call from said big bank, asking why we had moved. I politely explained it to them, and wished them a nice day. A few weeks later the manager and some of the staff were replaced by the manager and some staff from the Can Do Bank, and I hear things have gotten much better to deal with. Not going back there, again!
"The difference between genius and stupidity is that genius has its limits." Albert Einstein
Between the student loan people and the small local bank I switched to under the misguided impression this would be better than the big bank I switched from, I have to deal with a level of incompetence on a weekly basis that boggles my fool mind.
It has gotten to the point where I make any and all transaction requests (changing an autodebit, trying to get the autodebit right, trying AGAIN to get the autodebit right...) in writing, highlighting the most important information in separate paragraphs and ALL CAPS AND BOLD, and then, when they inevitably still screw it up,
1.) I call them
2.) I ask them to pull up whatever the latest letter was
3.) I ask them to read aloud the paragraphs that was in ALL CAPS AND BOLD to see if it faxed over legibly
4.) I ask them why they did Whatever Completely Wrong Thing They Did That Is Totally Contrary To What Those Sentences Just Said.
Then, after a brief stupefied silence while their cogs slowly turn, they usually tell me that they will fix it and do what the letter actually said, but this will take ten business days durying which they will charge me additional interest in the meanwhile. I ask them why am I being charged extra interest and fees for an action that THEY took that they clearly were instructed to not do? They understand that I am frustrated but there is no way they can not charge me extra interest even though this was clearly their mistake.
Then I blow a gasket.
Meanwhile, the autodebit STILL is not set up correctly so this is the gift that keeps on giving. I write a letter and do a follow up call shortly before the 15th every month to verify that everything will go according to plan, they assure me it will all go according to plan, then on the 15th nothing goes according to plan, on the 16th I call and draw their attention to the letter I wrote on the 12th and the phone call I made as a follow up to confirm that everything would perhaps finaly this time go according to plan.
Wash, rinse, repeat.
Since October 2012 I have been trying to get this straight now.
I'd be pleased if my bank really wanted to make sure that I'm the one who is doing a big withdrawal. Their policy is that they need to see ID for any withdrawal of any size. I believe they require that large withdrawals need to be done inside the bank instead of through a drive-through, but, having not actually made a sufficient withdrawal, I wouldn't know that for sure. (Large purchases I prefer to have on CC if possible- I pay it in full every month, but I earn rewards points on the CC.)
"I'm not always sarcastic. Sometimes I'm asleep."
- Harry Dresden
They have to file reports of suspicious activity for depositing and withdrawing large amounts of cash. Same thing if you want to buy a large amount of money orders at the Post Office. They suspect you of buying/selling drugs or other illegal commodities.
The less you have to see real people at the bank the better. I NEVER go to the bank or talk to an employee there, and life is a lot better, thanks to internet banking and remote deposit. I have to move large amounts of money for international payments and am even able to make large currency buys online.