Whipstock Posted October 27, 2021 Report Share Posted October 27, 2021 5 hours ago, sunnyvmx said: It wasn't his Bancomer. It was BofA. I pay my rent with a check from BofA each month and my landlord received notice that he would pay a fee now for checks over $500. So now I write 2 checks each month. I think this is all coming from the bank trying to minimize the new reporting requirements. The IRS reporting rule for transfers over $600, looks to have been shot down. Perhaps that will loosen things back up. https://nypost.com/2021/10/20/dems-raise-proposed-irs-bank-reporting-threshold-from-600-to-10k/ 1 Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted October 27, 2021 Report Share Posted October 27, 2021 I wonder if Bancomer has had some losses as the result of handling out of country personal checks. In any case, Bancomer would not be affected by the proposed reporting but the U.S. bank where the check originated would be. Quote Link to comment Share on other sites More sharing options...
Bisbee Gal Posted October 27, 2021 Report Share Posted October 27, 2021 1 hour ago, Whipstock said: The IRS reporting rule for transfers over $600, looks to have been shot down. Perhaps that will loosen things back up. https://nypost.com/2021/10/20/dems-raise-proposed-irs-bank-reporting-threshold-from-600-to-10k/ Even at 10K per annum it's ridiculous. Anyone with 10K a YEAR in outgoing or incoming payments would include those paying $900 a month for a mortgage or rent. When you make the net that wide it's useless---pass all the silly laws you want, but without staff and enforcement capabilities, it's a joke. Spoken as a person with 30+ years in tax admin in local and state governments, including liaison with IRS. Quote Link to comment Share on other sites More sharing options...
Whipstock Posted October 27, 2021 Report Share Posted October 27, 2021 40 minutes ago, Mainecoons said: I wonder if Bancomer has had some losses as the result of handling out of country personal checks. In any case, Bancomer would not be affected by the proposed reporting but the U.S. bank where the check originated would be. I don't know the answer to that. I do know banks doing buissines with US banks, or using the SWIFT system must now adhere to the KYC rules. Quote Link to comment Share on other sites More sharing options...
mudgirl Posted October 27, 2021 Report Share Posted October 27, 2021 6 hours ago, lcscats said: They don't send out statements anymore and have not for years. Anyone can check their bank account online. I honestly don't know anyone who still gets mailed statements. Quote Link to comment Share on other sites More sharing options...
happyjillin Posted October 27, 2021 Report Share Posted October 27, 2021 6 hours ago, happyjillin said: Just got 50 more cheques from Intercam and we have no problem using cheques from Scotiabank Canada. We also still get statements sent by Scotia and I had to tell Intercam not to send hard copy statements to us because they were getting delivered to our casa. For mudgirl. and yes I check everything online and throw the 2 month old statements away Quote Link to comment Share on other sites More sharing options...
lcscats Posted October 28, 2021 Report Share Posted October 28, 2021 17 hours ago, mudgirl said: Anyone can check their bank account online. I honestly don't know anyone who still gets mailed statements. BBVA/Bancomer requires a smart cell phone and pesters you with ads. The little electronic dongle that allowed one online doesn't work anymore. Quote Link to comment Share on other sites More sharing options...
AndyPanda Posted October 28, 2021 Report Share Posted October 28, 2021 18 hours ago, Mainecoons said: I wonder if Bancomer has had some losses as the result of handling out of country personal checks. In any case, Bancomer would not be affected by the proposed reporting but the U.S. bank where the check originated would be. I have yet to see any bank lose money on checks. They charge the customer for everything, especially here. Quote Link to comment Share on other sites More sharing options...
happyjillin Posted October 28, 2021 Report Share Posted October 28, 2021 If Intercam were loosing money on my cheques,they would not let me deposit them to constantly transfer funds from my Canadian bank. Quote Link to comment Share on other sites More sharing options...
headpooch Posted October 28, 2021 Report Share Posted October 28, 2021 1 hour ago, lcscats said: BBVA/Bancomer requires a smart cell phone and pesters you with ads. The little electronic dongle that allowed one online doesn't work anymore. My FOB still works for my BBVA Debit account. Even though the technology seems very outdated. Quote Link to comment Share on other sites More sharing options...
Mainecoons Posted October 28, 2021 Report Share Posted October 28, 2021 1 hour ago, AndyPanda said: I have yet to see any bank lose money on checks. They charge the customer for everything, especially here. I'm referring to checks they cash that bounce. I'm guessing because we don't use checks anymore anywhere. Quote Link to comment Share on other sites More sharing options...
AndyPanda Posted October 28, 2021 Report Share Posted October 28, 2021 The charge the customer through the nose, often both the issuer and the recipient, for checks that bounce. Quote Link to comment Share on other sites More sharing options...
Mostlylost Posted October 28, 2021 Report Share Posted October 28, 2021 2 hours ago, lcscats said: BBVA/Bancomer requires a smart cell phone and pesters you with ads. The little electronic dongle that allowed one online doesn't work anymore. You absolutely do not need to use a smartphone. I access my BBVA accounts all the time using a computer. You do need to use the updated device that reads the code on the screen when you log in and gives you the access code. Quote Link to comment Share on other sites More sharing options...
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