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Bank of America DOES NOT accept U.S. DOLLARS as payment on mortgages

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posted on Feb, 5 2012 @ 02:20 AM
reply to post by JibbyJedi

I think this guy knew before he went into the Bank that they were not going to accept his cash.
First clip he brings 1300 cash to pay his mortgage and they refuse to take it. Im assuming that he does not have a chequing account with this bank or he would just do the transfer, easy as pie and done.
Then in the second clip he is back with an insurance cheque for 13 grand and is saying they refuse to countersign it. You can hear the bank manager saying that he did not say that at all.
seems like this guy was doing anything he could to raise trouble. When he couldnt get enough with his first issue he comes back with a different one.
Furthermore, these are very short cl8ips, and I am sure much more transpired than this guy puts on Youtube.
He even gives the cop, just trying to do his (who is very patient I might add) a hard time and wont even show him ID.
This guy is a trouble maker, nothing more.

posted on Feb, 5 2012 @ 02:31 AM
I don't buy the story these people are spreading.

It is a staged confrontation by a couple that admits they are in foreclosure on their home. Much appears to be left unsaid here on this situation. I am unaware of what their particular circumstances are.

I will offer some observations regarding why these situations evolve with banks for some people,..

If you owe money to the IRS or State Revenue authorities for back taxes they can seize any funds you have in your banking accounts.

If you have written many overdrawn checks on your account, a bank can close your account and blacklist you so that other banks and credit unions will not open an account for you based on your previous bad money practices.

People in these situations find they are without any way of using services of banks to cash a check, Most banks require that a large check must be held several days so that it will clear, During that period, if there is an outstanding IRS or State claim the funds could be seized. Having a large check presents a real problem. Some resort to check cashing stores that will charge outlandish fees to cash the check for you. These unfortunate souls quickly learn that operating on a "cash basis" in today's world sucks.

I have my mortgage with BofA and have never had a problem with them, but I send a check, on time, every month. Don't get me wrong. I am no fan of big banks...I prefer well established local Credit Unions for savings and checking, but even they will not condone overdrafts and unpaid tax claims.

posted on Feb, 5 2012 @ 03:01 AM

Originally posted by isyeye
One thing I'm curious about......most banks require you to have a checking account with the bank before they will issue a loan. While I don't agree with the bank not accepting cash, why did they not write a check? Something is off here.

We use one bank for all our loans now, a little local bank in Oklahoma that has always treated us very well. They've written loans for us in several other states - for empty land, for vehicles, and for a house. We haven't had a checking account there since 2003.

So this isn't a requirement for all banks.

TBH we've moved away from big banks. Find a small local that treats you right & stick with them! We ran from BoA several years ago. Why would anyone use BoA?? They are terrible.
edit on 5-2-2012 by Schkeptick because: (no reason given)

posted on Feb, 5 2012 @ 03:07 AM
i might just build a fancy shed on some land i inherited. ^&&$ mortgages

posted on Feb, 5 2012 @ 03:26 AM
reply to post by JibbyJedi

im just wondering...but...

when you sign contracts with large companies such as banks, money lenders, phone companies etc etc...ive never read the fine print but do they say clearly how payments MUST be made...or what payment types are NOT accepted?

because if they have video footage of you trying to pay your bill and them not accepting it...i would go home...keep your money...and save that video for court.

if they have the right not to accept cash as payment then you surely have the right not to use wired transfer as payment method also?

they say "im sorry sir we dont accept cash as a payment method" and you say (if its not in the contract) "im sorry bank but i dont use wired transfer as a payment method" heres your money take it or leave it

posted on Feb, 5 2012 @ 03:58 AM
I had went to b of a to open an account . so as I go into the Colton branch mind you this was just before the housing crisis. so I tell the floor person I want to open an account I have. 2grand and my birth certificate and my drivers license with ss card .they inform me that wont do that I need a credit card or Costco card to open my account and turned me away at the same time they opened an account for another fella that had no Id and spoke 0% Eng. I changed my whole view on who was in charge from then on they were helping the collapse by giving loans to illegals that couldn't pay the increase on the loans as for me I was not the account they were fishing for /'\

posted on Feb, 5 2012 @ 04:05 AM
The problem with the title is that it implies that ALL BOA branches do not accept cash as payment. This may not even be the case.

I didn't watch the videos because without subtitles, I can't understand what's going on.

However, if a bank will not accept cash as a payment, why not just put the money into a checking account and use a debit card? I know that it goes against the desires of the person who made this video but it seems like it would be less of a hassle.

If I buy a big ticket item, it's either cash or no deal. I refuse to ever take out another credit card for as long as I live. They are not worth the hassle, especially when CC companies threaten to drag people into court for not paying. If they would be more flexible with payment options, more people would be able to pay their foolish debts. I learned the hard way. I hope others will too.

posted on Feb, 5 2012 @ 04:08 AM
reply to post by thesoundofbass

How do you even know that the person was an illegal? Did you personally ask them for their papers? Maybe they were a refugee or legal immigrant?

If a bank did that to me, I would take my business to another bank or credit union until one did accept my cash! That is how a free market would work. The companies that want your business, get it.

posted on Feb, 5 2012 @ 04:26 AM

Originally posted by CookieMonster09
First issue with this video is that this couple is in foreclosure. Look at the final video where they admit that they are in foreclosure.

Secondly, the gentleman in the video brought a video camera into the bank building - a huge red flag for bank personnel - and he raised his voice using objectionable language. He raised such a ruckus and was making such threatening comments that the bank personnel had to call the police for fear of their safety.

The real story here? If you listen closely to the police officer, he clearly explains that the couple -- likely due to the foreclosure proceedings -- is required to mail a check into the bank's foreclosure department.

Once a foreclosure starts, many times banks won't permit any payments whatsoever because it can re-start the entire foreclosure process over again. Hence, you have crooked borrowers that try to stop-start-stop-start the foreclosure process over and over again by playing games with their payments.

I can assure you that people make cash deposits on a daily basis into their checking accounts at their local bank branch, and then have their mortgage payment electronically deducted from their checking account. This happens every day.

This is nothing short of a publicity stunt and it goes to show you the audacity and arrogance of these borrowers. You have to ask yourself --- If they are so dissatisfied with Bank of America, why don't they refinance their mortgage at another bank? Why not? Because they are deadbeats with bad credit, slow pay history, and no other bank would take their mortgage. That's why. Cry me a river.

You're probably right about this. I don't even think all banks accept cash payments that are made on time at the local branches for mortgages since it's often handled by a different department. We have had a few mortgages with BOA in the past and really didn't have any problems. We used the automatic deduction from our checking account to save a small percentage on the interest.

posted on Feb, 5 2012 @ 04:49 AM
reply to post by The Sword

posted on Feb, 5 2012 @ 04:56 AM
cashless society 7l8l8l0l1l1l0l108l709l2.5l7l0

posted on Feb, 5 2012 @ 04:57 AM
So, when I go try to put $200 on my house tomrw at BoA, and they smile and give a me proof of payment while my cell vid is going, will this debunk this issue????

I am very skeptical....

posted on Feb, 5 2012 @ 04:58 AM
reply to post by loam

How much video do you see coming from the perceived angle of the tri-pod camera? I see no footage from that general direction! Would you care to elaborate on your statement? What makes you question the the back ground of the view from the camera catching all the action in this clip? What would be the motivation to fake an event such as this? As I see it, a citizen is clearly fed up with being made to jump through hoops and made the fool for trying to meet his end of an obligation only to be swindled out of his hard earned BS&T's! Surely you are cut out to be a banker!

posted on Feb, 5 2012 @ 06:03 AM
reply to post by JibbyJedi

I eventually had to sell my home to escape the lunacy of corrupt mortgage holders because my monthly payments grew to out of my range of affordability, which was around $500 more per month than was agreed upon at the signing of my refinancing.

At the risk of sounding rude here, but....who the heck taught you how to buy a house? Did you see it a simple "how to" on youtube, or catch a 10 minute blip on the idiot box then run out and enter into a contract your were too ignorant to even read or understand?

It saddens me to here about folks who have to give up their house because they didn't understand what they were getting into, then they spend every waking moment blaming anybody but themselves for their overwhelming and WILLFUL ignorance of reality.

I don't think the world's economy would be in such bad shape if there wasn't so much financial ignorance from folks like you. But hey, you go ahead and keep renting, I have several rental properties that relies on folks that are never going to be able to own their own home, or tried and FAILED because they are just plain ignorant.

Whaa,'s not my fault, it's that evil mortgage company plotting against me....whaaa......I'm not personally responsible for my own actions if it involves something I don't understand.....whaaaaa.....

posted on Feb, 5 2012 @ 06:05 AM
No fan of BoA here, but im sure its in the writing somewhere that mortage payments cant include cash. If so, then its his fault. If you dont like BoA policies, just dont do business with them its that simple!

As for the camera in the background, its used for making photos on credit/debit cards. They have them at any bank. Besides, do you honestly expect to go into a bank without cameras? Theres like 15 pointed at you at any given moment. Paranoid much?
edit on 2/5/12 by pugachev because: (no reason given)

posted on Feb, 5 2012 @ 07:51 AM
I love these videos. Kudos to the OP for the audacity. You should have called it "How to turn your trip to Bank of America into a trip to jail instantly!" Unfortunately a business has the right to refuse you service for whatever reason they want. I feel your pain. You should take your money to the many many others that I'm sure would gladly take it.

posted on Feb, 5 2012 @ 07:54 AM
Why did he edit out those parts where he was shouting at the female bank teller ?

Oh, such a big man. Shouting at a girl.

posted on Feb, 5 2012 @ 07:58 AM
These bankster destroy the value of your cash via the printing press and once they have all paper notes removed they will introduce a admin charge on each and every transaction and this is why i buy silver coins by the bucket load.

Silver has seen fiat paper come and go and along with gold is the only real currency in the world but domn't let that stop you if you like fiat paper and shares when $750tr of CDS all go bang or put another way 50 times the GDP of the USA goes tits up.

posted on Feb, 5 2012 @ 08:02 AM
I don't understand why someone would want to pay the mortgage in cash. Deposit it to your account and transfer it against the loan.

posted on Feb, 5 2012 @ 08:02 AM
I have had simialar problems at bank of america before. The question I have though is BoA is a Federsl Reserve Bank, on the paper money it says Federal Reserve Note, so it's their crappie paper why won't they take it. Seems how this would be illegal or some thing.

But I say just don't do biusness with BoA if possible get an account at credit union.
If the bank does not provide service, don't provide them with your money.
edit on 5-2-2012 by googolplex because: (no reason given)

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