my father in-law deposits money in my account every month becuase he got a loan from me and my husband. so thats how he pays us back monthly is depositing money in our account himself. my question is, is it normal for the bank to give him a receipt afterwards with our account balance on it? we trust him obviously because he has our account # so today, during a conversation, he mention how much we have in our bank account which its exactly right. I didn't think that they would give a receipt with our account balance on it to somebody thats not us. my point is, he can deposit money in there but we don't want him to know how much money we have. we have him do it because he lives close to the bank and we live almost an hour away from it. its been good to us so when we moved, we stayed with the same bank. hes not doing anything wrong, I just wish that the bank don't give him a receipt with our account balance on it. is this perfectly normal or am I overreacting?
2007-01-18 11:18:37 · 11 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
The bank should not have given him a receipt with your balance on it. I would say the bank teller probably assumed that he was the account holder since he was making a deposit. I have had this happen when making deposits into the business account my boss has. Sometimes they ask if I'm on the account and I say no, so the receipt I get doesn't have a balance. Other times they just assume I am on the account and the receipt I get has the balance on it. You could try talking to the bank, maybe they can put a note in the computer to check ID before giving out your account balance when a deposit is made. Good Luck.
2007-01-18 11:27:25 · answer #1 · answered by nicole_g20 2 · 0⤊ 0⤋
No one should give their bank account number to someone who is not on the account. When you take money out, the bank checks your ID, but when you make a deposit the bank doesn't know or care who you are. So if he is depositing into your account, of course he gets the normal receipt that account holders get. I think you should have your father in law hand the money over to you instead of making a deposit in your account. If you live an hour away from your bank, you should find a new bank, and this time don't give the account number to anyone.
2007-01-18 13:45:12 · answer #2 · answered by njyogibear 7 · 0⤊ 0⤋
I don't know if the bank can or can't print the balance on the receipt, but normally when I deposit money in the bank I get a receipt that shows the balance on it.
If you're uncomfortable with this, you should call your bank, explain your situation, and they may be able to do something so the balance doesn't print on the receipt.
If they can't, and you are uncomfortable with your father in law having that information (which I can understand), you may need to just have him pay you directly for the loan, and make the trip to the bank.
2007-01-18 11:46:31 · answer #3 · answered by Jen G 5 · 0⤊ 0⤋
It is a privacy violation for the bank to disclose your account balance information to someone who is not on the account. The tellers must be assuming that only an account holder would make a deposit to the account, but obviously that's just not true. The bank should be able to provide your uncle with a receipt that reflects the amount deposited without the total balance.
Speak with the branch manager and explain your situation. It's his job to make sure the bank doesn't run afoul of regulatory requirements, so he should be glad to help you.
2007-01-18 12:29:16 · answer #4 · answered by Marko 6 · 0⤊ 0⤋
Since he has your account number and makes a deposit, he does get a receipt. As I remember, window deposit receipts often include the current balance. You should probably call the bank and explain the situation. Maybe they can flag your account to not print the balance.
2007-01-18 11:26:10 · answer #5 · answered by blackfangz 4 · 0⤊ 0⤋
That's not normal, nor is it right!
They probably do it because his last name is the same as the name on the account (again, not right).
Call your bank manager and tell her about this. The bank can give a receipt without the balance.
When I kept my bank in Philly, my parents used to put money in my account. They would have screamed at me if they knew my balance.
2007-01-18 14:56:45 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I know that where I do my banking, they'll do it either way. Since I live in a small town, they know who I am and unless I say I need the balance they don't print it. Like others have said, I would just stop by the bank one day explaining your situation and they should have no problem giving him a receipt without a balance.
2007-01-18 11:30:56 · answer #7 · answered by Sam B. 3 · 0⤊ 0⤋
Banks, at least the ones I bank with, never give account balances to depositors, unless they are owners of the account. My guess is that the bank tellers are probably thinking that your father-in-law is a co-owner of the account, possibly because you, he and your husband have the same last name. It could just be a honest, mistaken identity perhaps because all the 3 of you have the same surname. Contact your bank if it concerns you and they will notified the tellers to make sure they don't give your account balances to your father-in-law
2007-01-18 11:30:44 · answer #8 · answered by Muga Wa Kabbz 5 · 0⤊ 0⤋
Yes they can give him a receipt since he is depositing money into your account.
2007-01-18 11:38:07 · answer #9 · answered by tantalizin1 5 · 0⤊ 0⤋
Its quite unusual. Normally they give a receipt showing they made deposit and how much it was. If I were you Id call and complain, Im thinking maybe the teller was in training.
2007-01-18 11:32:17 · answer #10 · answered by Crazy 6 · 0⤊ 1⤋