Banking question
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Banking question Our bank is requesting each member of our club to update there profile in person at the bank. I just wondered if any of you had to do the same with your bank. Banks generally try to keep customer traffic low for this type of issue and use electronics. They may have identity theft issues and are trying to clean it up quietly. If a former treasurer has died, your partnership agreement is old, new members are not listed or some other ambiguity exists, it might trigger the same think. My suggestion would be ask for the reason. Joe Farrell > On Oct 31, 2022, at 10:28 PM, Patricia A. Knapp via bivio.com <user*20434000001@bivio.com> wrote: > > Our bank is requesting each member of our club to update > there profile in person at the bank. I just wondered if any > of you had to do the same with your bank. We no longer have a separate banking account since they started charging a fee. We have checking access via the broker and all members bill pay directly to brokers Banks generally try to keep customer traffic low for this type of issue and use electronics. They may have identity theft issues and are trying to clean it up quietly.
who is your broker?
My two clubs do the same thing at TD Ameritrade and my model club at Fidelity. Joe Farrell
My club uses Schwab. It pulls money from each member's personal checking account each month for their capital contribution. If I need to, I can write a check on the brokerage account. Fidelity does this. Carole Jansen Wise investment Club
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