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Thread: Chase bank a federal building???

  1. #1
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    Chase bank a federal building???

    The other day a employee at a chase bank here in watertown got all huffy and puffed up like a peacock telling me that the bank is a federal building, and that it is illegal to carry in federal buildings.

    somehow it never crossed my mind that a bank would/could be a federal building. She kept on and on and on and on repeating that they are a FDIC bank (whatever that means. sorry for my ignorance, but i've never even owned a checkbook my entire life. i try to stay away from/out of banks, and do everything i can electronically. the few times that i have to go into banks, i usually have to ask them how to do everything because i've never had to do that before. the other day i was trying to get a money order. never done that before. didn't even know what that was or how it worked).


    so anyways.
    FDIC bank=federal building???

    if there is in fact such a thing as a bank being a federal building, what banks do you guys recommend that are not federal buildings, and that have full service 24/7 ATM's (that allow cash and check deposits, and depositing checks via cell phone)

    and if this whole deal is a line of BS, how do i go about dealing with the situation if i have to go back in there in person some day (actually possibly near future as i wanted to start setting up a savings account for my son)

  2. #2
    Regular Member Interceptor_Knight's Avatar
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    A bank is private property. Chase around here is carry friendly.

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    FDIC is a federal insurance program for you funds that are kept at the bank.

    Don't pay any attention to the person that spouted lies to you.

    As for an account for your son, made sure the bank doesn't charge an inactivity fee. It could eat up what money your son has in the account, if they don't make regular additions to the account. (happen to a friend of mine, her son had $75 in the account and hadn't used it in a year).

    All the money was gone due to inactivity on the account.

    IMHO find a credit union.

    JJC

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    Regular Member MainelyGlock's Avatar
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    That employee is either lying, or very ignorant. A bank insured by the FDIC (federal deposit insurance corporation) is NOT a federal building, though the FDIC is a federal company I believe. Next time, tell him/her off and to learn what they're talking about.
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    Quote Originally Posted by JJC View Post
    FDIC is a federal insurance program for you funds that are kept at the bank.

    Don't pay any attention to the person that spouted lies to you.

    As for an account for your son, made sure the bank doesn't charge an inactivity fee. It could eat up what money your son has in the account, if they don't make regular additions to the account. (happen to a friend of mine, her son had $75 in the account and hadn't used it in a year).

    All the money was gone due to inactivity on the account.

    IMHO find a credit union.

    JJC
    the lady that was helpful, (not the run going on like a broken record about FDIC) actually made a couple phone calls and did some reading to make sure my son wouldn't loose his money. she said that if i open an account for him now (he's 3years old), that it would have ZERO fees because he's a minor. once he turned 12, i could get him a bank card so he could access his account, and still have ZERO fees. but once he turns 18, then he'd fall under all the normal rules and get fees unless he was getting direct deposits or making more than 5 transactions a month.


    the reason i like chase, is because as i said earlier, i have never dealt with banks much, and avoid going in like the plaque. so being able to deposit cash and checks via their ATM at any time night or day and weekends is nice, and i can even deposit checks via my cell phone. when i opened my account with them over a year ago, i didn't know of any other bank that had those service. actually i still don't to be honest.

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    Regular Member MainelyGlock's Avatar
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    Quote Originally Posted by scorpio_vette View Post
    the lady that was helpful, (not the run going on like a broken record about FDIC) actually made a couple phone calls and did some reading to make sure my son wouldn't loose his money. she said that if i open an account for him now (he's 3years old), that it would have ZERO fees because he's a minor. once he turned 12, i could get him a bank card so he could access his account, and still have ZERO fees. but once he turns 18, then he'd fall under all the normal rules and get fees unless he was getting direct deposits or making more than 5 transactions a month.


    the reason i like chase, is because as i said earlier, i have never dealt with banks much, and avoid going in like the plaque. so being able to deposit cash and checks via their ATM at any time night or day and weekends is nice, and i can even deposit checks via my cell phone. when i opened my account with them over a year ago, i didn't know of any other bank that had those service. actually i still don't to be honest.
    If you are current or former military, go for USAA. I switched to them from Bank of America because I have a large distrust for huge banks now, and although they may technically classify as one, they are FAR superior in my opinion. They have no actual branches, but you can deposit/withdraw money and checks at a bunch of places like grocery stores, ANY other bank, and even the UPS/FedEx stores. My father is active Navy and I have all my bank accounts and insurance through them.
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  7. #7
    Regular Member Stanley's Avatar
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    Usaa has branches. We have two near me...

    They are just new.

    Been with them for 16 years, never a single problem.
    Last edited by Stanley; 03-30-2012 at 04:19 PM.
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    Regular Member MainelyGlock's Avatar
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    Quote Originally Posted by Stanley View Post
    Usaa has branches. We have two near me...

    They are just new.
    Really? That'd be great if they opened one up in Maine. Glad to hear it!
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    Go back to Chase Bank in Watertown, get the name of this lady, and then either talk to her boss in person or on the phone, and discuss her conversation with you.

    They will probably deny it, but she will get at least a warning about giving out false and misleading information. Banks have to be careful about employing people who lie and misrepresent their employer. Pushed hard enough, it might have been fraudulent for her to claim that Chase bank is a Federal bank, in a Federal building.

    The closest bank CALLED Federal is the District 7, Federal Reserve Bank located in Chicago IL. District 9, Federal Reserve Bank is located in Minneapolis MN. Even they are private, locally controlled corporations, which were created by the Federal Government, and owned by member banks.
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    Quote Originally Posted by MainelyGlock View Post
    If you are current or former military, go for USAA. I switched to them from Bank of America because I have a large distrust for huge banks now, and although they may technically classify as one, they are FAR superior in my opinion. They have no actual branches, but you can deposit/withdraw money and checks at a bunch of places like grocery stores, ANY other bank, and even the UPS/FedEx stores. My father is active Navy and I have all my bank accounts and insurance through them.
    we actually just switched to USAA insurance, and my wife opened up a bank account with them not to long ago. my concern with them not having offices, is that if something does happen that i have to go in and deal with somebody face to face, i can't. and so i'm worried that it'll be easier for them to blow me off. but i'll look into it a bit more.


    Quote Originally Posted by E6chevron View Post
    Go back to Chase Bank in Watertown, get the name of this lady, and then either talk to her boss in person or on the phone, and discuss her conversation with you.

    They will probably deny it, but she will get at least a warning about giving out false and misleading information. Banks have to be careful about employing people who lie and misrepresent their employer. Pushed hard enough, it might have been fraudulent for her to claim that Chase bank is a Federal bank, in a Federal building.

    The closest bank CALLED Federal is the District 7, Federal Reserve Bank located in Chicago IL. District 9, Federal Reserve Bank is located in Minneapolis MN. Even they are private, locally controlled corporations, which were created by the Federal Government, and owned by member banks.
    thanks. will keep that in mind for next time i have to go there.

  11. #11
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    Quote Originally Posted by scorpio_vette View Post
    we actually just switched to USAA insurance, and my wife opened up a bank account with them not to long ago. my concern with them not having offices, is that if something does happen that i have to go in and deal with somebody face to face, i can't. and so i'm worried that it'll be easier for them to blow me off. but i'll look into it a bit more.
    Since they don't have branches open everywhere yet you would have to call, however, they are incredibly helpful and supportive over the phone, and emailing too if that's your thing. I sent an email about my car insurance being raised a few weeks back, and within the hour got a response and a solution. So far for me, as well as my father, they have been nothing but good to us. I hope your experience with them is the same.
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    FDIC is a federal insurance program to protect your deposits in an approved account. That making the bank federally own property make just as much sense as since a home is insured by "state farm" makes the home STATE FARMS PROPERTY!
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    Regular Member Sorcice's Avatar
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    I hate chase. Fees out the wazoo and horrible customer service. I use summit credit union. All accounts free of charge, lower overdraft fees(if that ever happens), carry friendly, and way better customer service. Pretty much any credit union will be better than a bank though.

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    Regular Member UtahRSO's Avatar
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    Because of something Chase did to me, and to many other people, I believe there is a class-action lawsuit in the works against them. Chase bank is the last place I would put any of my money.

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    Quote Originally Posted by Interceptor_Knight View Post
    SNIP A bank is private property.
    No, no, no. It is a Freudian slip. Bank employees who declare their bank to be federal property are letting out the secret that the banking system is in bed with the government, so much so that even the employees forget there actually is was used to be a distinction between the government and the banking system.

    "Oh, thank you, ma'am. Are you really sure you're allowed to reveal the depth of collusion between your employer and the government?"
    I'll make you an offer: I will argue and fight for all of your rights, if you will do the same for me. That is the only way freedom can work. We have to respect all rights, all the time--and strive to win the rights of the other guy as much as for ourselves.

    If I am equal to another, how can I legitimately govern him without his express individual consent?

    There is no human being on earth I hate so much I would actually vote to inflict government upon him.

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    Regular Member bigdaddy1's Avatar
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    I read somewhere that Chase is very anti-gun, and will even deny credit to companies that want to open a gun shop.
    What part of "shall not be infringed" don't you understand?

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    Regular Member MainelyGlock's Avatar
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    Quote Originally Posted by bigdaddy1 View Post
    I read somewhere that Chase is very anti-gun, and will even deny credit to companies that want to open a gun shop.
    Screw 'em. No more bailouts, please! They failed the latest stress test, so here's to hoping they go under and stop screwing everybody over!
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    Quote Originally Posted by MainelyGlock View Post
    Screw 'em. No more bailouts, please! They failed the latest stress test, so here's to hoping they go under and stop screwing everybody over!
    I wonder what happens to John Q. Public when they go under? I know what happens to all the executives with golden parachutes in their contracts....
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    Quote Originally Posted by davegran View Post
    I wonder what happens to John Q. Public when they go under?
    What do y'all think is the reason/purpose for the Federal Deposit Insurance Corporation (1933 Glass-Steagal Act), that was being damned here? Anyone left holding the bag of a failed bank was not doing due diligence and gets no sympathy.

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    Quote Originally Posted by Herr Heckler Koch View Post
    What do y'all think is the reason/purpose for the Federal Deposit Insurance Corporation (1933 Glass-Steagal Act)....
    You mean the one that was repealed in 1999 with the establishment of the Gramm-Leach-Bliley Act because the poor banks didn't have enough freedom in their transactions? Down the slippery slope we go.... Oh, by the way, even though the amount insured has increased from $100,000 to $250,000, to keep pace with inflation, the FDIC should now insure your deposits up to $1,694,915.25 .
    Dave
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    [QUOTE=davegran;1730886] SNIP I wonder what happens to John Q. Public when they go under?[/QUOTE]

    There was a congressional commission on gold in the early 1980s. The minority report from the commission goes into the history of banking in this country.

    FDIC and such really don't help the public. Their main purpose is to support the banking industry. Such agencies allow banks to get themselves into trouble by creating a bailout for the banks' depositors. This is not a stand-alone action. It is part of an integrated system of unfair-to-the-public crutches supporting the banking system. One effect is that the public has more confidence in the banking system than the system even comes close to deserving. Another is that if there was no FDIC, the public would be a lot more cautious about which banks they opened accounts or kept accounts, meaning people would inspect the health of the bank before buying CDs, opening checking accounts, and so forth. Poorly run (read financially shaky) banks would lose business or business would stay away, while very sound banks would have more customers.

    It all starts a long time ago shortly after this republic was born. There was no national banking system. Just local banks and maybe a few statewide banks with several branches. Say early 1800s. This was back in the day when gold and silver were real money, and individual banks issued "notes" or bank currency redeemable in real money--gold and silver coin--on demand. Lots of different banks, lots of different paper bank notes/paper currency. Now, people were saavier back then. The public knew the banks issued more paper notes than the banks had on deposit. The further the notes went distance-wise from the bank's physical location, the less the notes were worth. Issuing notes beyond the deposits on hand is called fractional reserve banking (only a fraction of what is owed is kept on hand) aka inflating the supply of money aka fraud because the promise that the deposits can all be redeemed is a lie. So, some banks issued so much paper note quantity that people became nervous and started cashing in their notes for gold and silver as promised by the bank. This is called a bank run.

    Now, the bank has issued a note saying it would pay gold or silver on demand to the bearer. This is a contractual obligation. For the moment, nevermind the fraud of issuing more notes than gold or silver on hand at the bank. It is fraud, but I want to focus your attention on the contractual obligation for the moment. Because, in a bank run, the bank breaks its contractual obligation to each note holder who demands gold or silver but does not receive any. It is the government's duty to enforce contracts. The bank should go out of business, its physical assets liquidated and its shareholders and officers held liable for the contract obligations--meaning they pay the depositors and note bearers. The government's duty to enforce contracts requires this. And, in a few cases of bank failures that is what was done. However, in other cases, the state governments allowed the banks to close temporarily, or worse, suspend paying gold and silver to depositors on demand. Meaning, the state governments not only refused to enforce the contract obligations, but actively authorized evasion of the contract obligations by the banks.

    It goes deeper. Remember I mentioned the notes lost value the further they migrated from the bank? Well, back then there arose businessmen who would buy up the below-value notes far from the banks, carry the notes back to the banks, and redeem them for gold and silver. Their profit was the difference between what the notes were valued far from the bank and the value at the bank. Minus travel costs and so forth. Totally legitimate business. Save people lots of traveling just to redeem notes, especially if they had only a few such that it wasn't worth the journey back to the bank. Totally legit business. Well, along comes the state governments to outlaw that service. Protected the banks, you see. Those unredeemed notes meant more profit for the bank.

    One more piece of the puzzle. Lets say you and I pool $50K each to start a bank, total of $100K gold and silver on hand. Now, through the magical fraud of fractional-reserve banking, you and I print paper notes out of thin air, or, even better, write numbers into accounts without actually printing the notes, to the tune of $900K. All out of thin air. This is how fractional reserve banking works--create "money" out of thin air. Then we loan out that $900K in various loans. A new buggy here. A new feed store there. Some rolling stock for the local short railroad. OK, well and good. Until something happens. The people we made those loans to? They're going to write checks to the buggy dealership, and the lumber yard to buy the lumber to build the feed store, and boxcar manufacturer. That buggy dealership and everybody else is going to come presenting those checks for payment to you and me at our bank. Now, we've only got $100K gold and silver on hand. But, we've got $900K worth of checks being presented to us. Uh-oh. We're out of business. Just like that.

    The whole point of a state banking system back then, and the Federal Reserve national banking system today, is to shore up the banks who get stuck in that problem. And, to allow all the banks to create money out of thin air more evenly. All carefully sanctioned, approved, and authorized by the governments.

    So, you see, when the hazard of going out of business is removed by government, and when the hazard of losing all your money as an officer of the bank or a shareholder is removed by government, the banks have much less reason to play carefully.

    Now, when there are big losses, instead of the bank going out of business and being liquidated and officers and shareholders being forced to honor contractual obligations, the losses are spread to John Q. Public. Whereas banks would be lots, lots more careful if the crutches were not there to shore up their very bad decisions with bailouts and so forth.

    And, FDIC and such are just a part of that overall system designed to let the banks play their games for their own benefit.
    Last edited by Citizen; 03-31-2012 at 08:14 PM.
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  22. #22
    Regular Member Rxman's Avatar
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    Fwiw

    Hey Scorpio-Vette. I too live in Watertown, and we (my wife and I) deal with M&I Bank on 2nd St. Not the best in the world, but started with them over 10 years ago when we moved here from Florida (Please don't ask why, hell, I haven't figured it out yet!), and have had only minor problems, easily fixed,with them. My wife also uses the "phone deposit" with them, as what you said you wanted. As far as anything else, I don't know, but might be a local bank to deal with. Good luck!
    PS-Glad to hear of another person in Watertown carrying. If you see a handsome older gentleman driving a white Jeep Cherokee (older model) give me a wave.

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    Quote Originally Posted by Rxman View Post
    Hey Scorpio-Vette. I too live in Watertown, and we (my wife and I) deal with M&I Bank on 2nd St. Not the best in the world, but started with them over 10 years ago when we moved here from Florida (Please don't ask why, hell, I haven't figured it out yet!), and have had only minor problems, easily fixed,with them. My wife also uses the "phone deposit" with them, as what you said you wanted. As far as anything else, I don't know, but might be a local bank to deal with. Good luck!
    PS-Glad to hear of another person in Watertown carrying. If you see a handsome older gentleman driving a white Jeep Cherokee (older model) give me a wave.
    good to know. i'll keep that in mind also. thanks.

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    +1 Summit Credit Union

    I have been with them since it was State Capital Credit Union, very good service

    any location I have been to recently was not posted

    they are very good and provide lots of services even bought our last car thru them , we purchased the used car from a relative , he came with us to the credit Union office we had an appointment they can do all the paperwork registration , plates everything , as well as giving us the loan. we signed the papers he signed , they credited his account the amount of purchase.

    it took about an hour , and i didn't have to deal with a car dealer and their shiestering that takes hours.

  25. #25
    Regular Member DangerClose's Avatar
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    Quote Originally Posted by JJC View Post
    IMHO find a credit union.
    This. Not only should big banks be avoided because they are corrupt, rotten s.o.b.s of crony capitalism, but they'll probably give you a worse deal than a credit union anyway.

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