The War on Cash Gets a New Honcho
Next month (March, 2016), the largest bank in the United States, J.P. Morgan Chase, will demand ID for customers to deposit cash.
Yep. You want to put some greenbacks in your Chase account, flash a passport or driver’s license or birth certificate.
They’re sorry for the inconvenience, but, hey, they are protecting us.
- “Customers will need to be prepared to show an ID ….
These requirements apply only to cash deposits made to personal accounts at a branch and do not affect other types of deposits, including check deposits.
Some of our branches are already enforcing these requirements; all of our branches will be enforcing them by March 3rd.
We’re trying to do more to combat money laundering and other criminal activities. Changes like this help us to do that. We’re sorry for any inconvenience this may cause.
For those that want to know the strategy now at play in the world of money, banking and finance, check out this ground breaking look behind the wizard’s curtain of global finance and what you can do about it.