WAMU holds money for two weeks.

Mar 27, 2007 @ 10:25 pm by Administrator

This is interesting. I haven’t finished reading the post yet but I know some of this holding on to money is to prevent wire fraud and supposedly fights terrorism (terrorists trying to move 49k at once is a big red flag and they know that. They aren’t stupid). The response from the teller to a very specific, and somewhat important, question is what gets me though.

On a totaly unrelated note there’s a WAMU branch nearby that basicly has an ATM to dispense cash, but it’s not an atm! You do the whole teller bit then walk over to the machine with your reciept, punch in a code and you get your cash. This totaly blew me away, it can’t be “easier” or “faster” for the customer. the only reason I could see for such a system is the branch’s location…. yup, little mexico (I say this somewhat sarcasticly, Bellevue is pretty well mixed ethnicaly and economicly). Even with the location I can’t wrap my mind around this thing. Is it to prevent robberies? I can just see some methed up junkie flipping out and killing people because it’s a “cashless” facility. Not sure how they handle cash deposits though…. Anyone else seen something like this?

Call me kooky,
Phosphers

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