The Ministry of Silly Banking Rules - Live Like a Mensch
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The Ministry of Silly Banking Rules

 Just 11 more years, and this baby is all ours!


Last week, we received our escrow account statement letter from our mortgage lender. (Don't worry, it gets more interesting. I promise.)

For the first time in the four years we've lived here, our escrow amount has gone down. Our monthly payment will be lower over the next year, and there was apparently a surplus of $97 and change, so they cut us a check. (Life would be easier if they had just *applied* the dang surplus to our next payment, but clearly nobody asked me.)

I believe I have mentioned before that I am the official PIC (that's person in charge) of banking in this household, which might give you an inkling into the trouble ahead in this story.

Since I was out and about yesterday, I decided to deposit the check. Since I had BB with me, I decided to simply go through the drive-through ATM. The check is made out to both J and myself, which I believed meant that either one of us could endorse it. It is also for less than $100 of (and I cannot state this strongly enough) OUR MONEY that we overpaid.

Well, I got a phone call from a lovely woman at our local bank branch this morning. Apparently, both J and I need to have endorsed the check in order to deposit it. I suspect that if we had a joint account, that would probably be less necessary, but whatever.

That's not the ridiculous part.

No, the ridiculous part is that J will now have to go into our local bank branch *with his photo ID* in order to endorse this check.

Since the reason I am PIC of banking is because I work from home and J works at an office--an environment wherein errand-running on company time is generally frowned upon--I asked if I could possibly come pick up the check and have J sign it this evening and I will re-deposit it tomorrow.

I got a big yes on that one.

So J needs to show his ID to prove that he's my husband because I might otherwise have some random man come in to endorse a less-than $100 check for fraudulent purposes in order to deposit said check into an account that is linked to my husband's account. But having me pick up the check, get it endorsed by my husband, and then bring it back, without my also checking J's ID prior to his endorsement is a-ok.

It's exhausting just thinking about how dang complicated a criminal's nefarious schemes must be.

I'm not actually mad at my bank or the lovely banker who called. She's just doing her job and these rules are certainly there for a reason.

It all just feels a little ludicrous


Have you ever run afoul of a silly rule at your bank?



bobi said:

The DMV did this to me once (car title issue.) I went out to the parking lot, forged hubby's signature, waited 10 min and got in a different line! And I didn't even feel guilty. "Rules" like this are made to be broken. How dumb!!!

June 5, 2014 9:48 PM

haverwench said:

We learned this one the hard way, too. We got a tax refund check made out to both of us, and when I tried to deposit it with just my own signature, the bank called me up and told me I'd have to come get the check back so Brian could sign it, too. (As if he might have some reason to object to my depositing the money into our joint account.) But now that we know, it's easy enough to have Brian endorse checks before I take them to the bank, so no big deal. (He even lets me deposit checks that are made out solely to him--he signs them and I just pop them into the ATM. There's probably no rule against that, but just in case, don't tell anyone.)

June 6, 2014 9:47 AM

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