Sunday, February 5, 2012

Cashless Society: Bank of America Refuses Cash for Mortgage Payment

Activist Post

In another example that we appear to be rapidly moving into a cashless society, Bank of America in California refused to accept cash for a mortgage payment.  The manager of the bank said it was against their policy to accept legal tender physical currency (aka U.S. dollars) as payment for BoA mortgages.

The customer attempting to pay his mortgage, firefighter Robert Somerton, recorded the ordeal in Lakeport branch which made the bank manager so upset that he called the police.  The police detained Somerton for a half hour before releasing him with a warning that he may never return to that BoA branch or he'll be arrested.

"I was shocked. I had no idea this would happen. Since when does a bank not accept cash?" Robert wrote after the affair.



Somerton and his wife, Ana, are victims of fraudclosure and have become the activists known as Rob and Ana vs Bank of America.  At the height of their foreclosure struggle, they made news when they threatened to bulldoze their home leaving Bank of America a "smoldering pile of debris."

Watch the rest of the exchange here.

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51 comments:

Anonymous said...

maybe they can donate the house as a tax write off

Anonymous said...

how about people just not use the big banks. go with a credit union, as opposed to a giant bank that seems to no longer operate in the same manner us regular humans do

lonegranger said...

Too many businesses are no longer customer oriented. The whole issue could have been averted were the bank-bozo's ego under control. The $1000.00 limit to cash transactions sounds a bit like a fabrication considering businesses do make cash deposits far in excess of that amount. All that was necessary was a substantiating document!

LE did a fine job keeping things in control ending with a non-violent conclusion.

Funny, every time I have to go to California, I feel I need a passport to re-enter the US!

Lili said...

They won't accept cash when they know it's about to be devalued and worthless.

They just sent a very clear message that the dollar is going to be dumped.

Is anyone listening?

Anonymous said...

Arrested for trying to pay your mortgage with cash? I'd say the gig called The United States of America is up.

Anonymous said...

If they won't take the money then it's logical to understand that he doesn't owe it, eh?

Anonymous said...

Hmmm

The last time I looked the Bank does NOT have the legal right to refuse cash. Read whats on the 20 dollar bill. "all debts public and private" SO sorry bank of AMerican but we are going to suspend your corporate charter until such time as you start obeying the law. And if this lasts more than 24 hours than a warrant for the arrest of every corporate officer will be issued and they will be held until such time as this economic terrorist attack ends

Anonymous said...

To refuse legal tender in payment of a debt is to nullify the debt.

Anonymous said...

Permanently banned from HIS branch of BOA for filming a talk? So the police work directly for BOA now?

Nice, time to start beating the crap out of people who work at banks. See you jokers in my local bars get ready to be hospitalized.

Anonymous said...

America - becomming more and more a nasty prissy queen of laughing stock everyday.

Anonymous said...

I'm not a christian, but doesn't this sound like- without the mark of the beast you won't be able to buy or sell? You think the banksters are out of control now?-wait until they take away cash. The day I can't use cash, is the day I fight!

citizen ron said...

banks would rather acquire your money on the sly. look at the rules and regulations in place for paying for things thru the bank. it ONLY benefits the banks. they've got you worked into a corner where you have NO CHOICE but to do as they wish for you to do.

the dollar is crashing. the economy is crashing. the banks are crashing.

time to disengage and withdraw to safety. get out of the way of all these collapsing entities.

if the bank won't take the cash as payment, the debt is forgiven.

if the bank won't take cash as payment, the bank is in flagrant violation of the law. not that they care now...

if the bank won't take cash as payment, quietly take that cash and buy LOTS of gold & silver, as much as can be acquired.

if the bank won't take cash as payment, let the bank fail. don't support bailouts. don't pay taxes. don't bother voting.

stop playing the game. playing the game continues to give power to psychopaths. stop enabling them.

Anonymous said...

gee 30 years ago they started this with travelers checks around the country, get gas and try to pay w/traveler ck, oooooh we can not accept! the gas is pumped, suck it out or call the cops, they always called cops, but the out cum was a little different, as the adds for the checks stated "SAME AS CASH, and this is what got the station ... the police would tell them to accept the payment w/check or the service was to be deemed paid, as the customer was not refusing to pay, seems to me if they will not accept payment, there must not be a debt.

Anonymous said...

As a previous poster said, Refusal to accept legal tender as payment of a debt-nullifies said debt. There are a couple of caveats to that, such as a creditor may refuse a type of payment such as credit cards, checks or even gold but legal tender of the country when the debt is for that same tender is not allowed to be refused. I think that the bank just did him a great service.
Get a lawyer.

Anonymous said...

Read the terms of the mortgage, you vile bankers. You are preventing the good faith effort of the debtor from paying a debt with legal tender which states on its face that it is in payment of all debts, both public & private. I would sue the pants off that bank and the mortgage company who holds the mortgage. All debts now forgiven?

Anonymous said...

Failure to accept legal tender as payment for a debt nullifies that debt.

Anonymous said...

The debt is paid - he now owns that property.

Anonymous said...

So, if the guy tried to pay the bank cash for his debt that he owed them , and they will not accept it as payment...and it nullifies the debt, does that equal "free house" ? IT SHOULD !

Anonymous said...

If foreclosure proceedings have started, they can't accept payment. We're not getting that side of the story and I don't think people are thinking of that possibility as it's easier to jump to the emotional conclusion. Don't get me wrong, I'm against big banks as well. This smear campaign might end him in legal hot water. Especially for filming persons without their permission. Banks are not public property, they are private.

Anonymous said...

Also, since when can the police ban you from a location (public area of a bank branch) without any court order?

He should sue both the bank, AND the police.

TerraHertz

Anonymous said...

Stupid bank rule, but he could have gotten around that by just purchasing`one or more money orders or a bank check at that same bank branch, or someplace near buy and paid his mortgage with the money orders/bank check.

Activist said...

Received a terrific comment on Reddit:

I got a heads up that we were going to be pushed towards a cashless society some years ago, likely due to my computer background. The agenda is that all sizeable cash transactions will be banned or simply not accepted. The only valid form of payment will be through bank deposits, credit cards and systems like Pay Pal. Already we can see that in Greece cash transaction have been limited to no more than €1500. You can expect this system to roll very quickly now as various countries, states and regions become de-facto bankrupt. Biometric (life measuring) payment methods will become more and more common. Already JP Morgan is beta testing this initiative through the US food stamp program that they administrate and India is currently attempting to roll out a 1 billion person biometric ID database for health coverage. Yes poor people will do desperate things for services.

There is now an effort to demonize cash usage and you will begin to see it associated more and more heavily with terrorism, insurgency and most importantly drug trade. The limit of $10k maximum across borders before being legally required to declare it is already a joke since you are fully inspected with sensors and you will be required to answer the question "Why do you really need this much money"? Many of you are unsure why anyone would need to transport currency or precious metals in the thousands of dollars and I can assure you that you are either poor, boring or both.

This is no longer about our convenience, we already have plenty of it, as much as we desire. It is now about constricting our basic freedoms by reducing our ability to act dynamically. Recently I learned a hard lesson in a Romanian airport when the ATMs would not accept my debit card and I only had Ukrainian Hyrvnia in my wallet and the money changer would not accept them. Know that there is no substitute for currency of the correct variety in your pocket. As the cellular grid rolls out everywhere many people will forget this. Don't let your wakeup call be your freedom or your life.

You are going to need cash on hand and additionally gold or silver to convert to cash on a as needed basis.

http://www.reddit.com/r/conspiracy/comments/pbvf7/cashless_society_bank_of_america_refuses_cash_for/

Anonymous said...

Coming off a bubble, you know we are in an extended period of debt deflation, and you know the best protection against deflation is real cash. But, only about 5% of the US money supply is available as physical cash. That would be nowhere near enough cash to meet the demands of a run on the banks. So banks would be desperate to prevent a run on the banks. Refusing to accept cash could be an attempt to threaten people. It tells them: you better not dare come in and attempt to cash out, because your cash will not be accepted here!

Anonymous said...

Years ago a good friend told me that Wells Fargo would not take his cash payment for his mortgage. He was very upset and knew how ridiculous it was. Get your money out of the banks that do not serve their customers and instead serve themselves in that they pay their executives huge amounts of money. Further
if no one took out a mortgage, home prices would come down to a reasonable level. A level that we could all save up for and then buy our homes outright and never ever have to make a mortgage payment to anyone! Or better yet save up for a piece of land and build our own house. This is how people lived in the past and this is how we pull ourselves out of bondage, we must all learn to live without creating debt.

Anonymous said...

As noted above, cash is legal tender and this could result in the bank unknowingly dissolving the fireman's mortgage debt. Alternatively, the bank can be sued for violating U. S. government currency laws. A Federal Reserve "NOTE IS LEGAL TENDER FOR ALL DEBTS PUBLIC AND PRIVATE". Time to report B of A for currency fraud.

Big Dan said...

So the police were summoned, too. The charges were "ATTEMPTED CASH PAYMENT".

Anonymous said...

I believe he who refuses payment for a debt is left carrying the debt.

Anonymous said...

how about just avoiding the whole ordeal and writing a check or paying online like a normal human? Naaah, that wouldn't have led to the outrageous scene he was looking for. Good job my man, you look like an idiot right alongside the tools at BofA

Barry said...

Don't you just love the Lawless Police State, used to be called the USA now LPS. Police ignore the constitution, the federal and state law and take orders from the ruling elite - and I think to myself what a wonderful world.

Anonymous said...

He was in foreclosure, 10 months behind. So the payment had to be made with a different entity. Ready the WHOLE story here:

http://www.reddit.com/r/videos/comments/pbuwd/bank_of_america_refuses_customer_to_pay_his/

Anonymous said...

Is anyone else SICKENED when they use a credit card and you have to wait for it to say "approved". WHO is "approving" your money/work? A morally and fiancially BANKRUPT gangster banking system? How can these snakes approve anything? We had to "approve" to get them bailed out and now they are still confirming our transactions?

The people will NOT STAND for this, I assure you.

Anonymous said...

BAC management must have difficulty understanding

This note is legal tender for all debts, public and private.

That rank stupidity in its management is probably why its stock dropped 85% over the past few years

Anonymous said...

3 or 4 years ago, a friend from the US came out on holiday to Oz to fish with me for a couple weeks. We were headed for my island abode, and his gear (including his passport) was already packed aboard the vessel in the harbor. We grabbed a few last minute fresh supplies (milk bread etc) in the nearest town just before we departed and he decided to grab a few things - smokes and beers etc - but only had $US on him...as he'd just flown into the country and hadn't had time to swap any $US for our Oz pacific pesos! No problem says I - and we duck into the local branch of my bank!. He presents a couple or 3 hundred $US to the teller and asks "can you please exchange these for Oz currency for me please?" - She then informs him that without viewing a photo ID of him such as his passport or Florida drivers license (they were all in the boat already) that she couldn't x-change the currency! Oz law says so, not bank policy...apparently! He explained that in travelling all over the world - her has NEVER had $US refused ANYWHERE except backwoods butt phuk Australia - and in a bank no less - he wanted to exchange cash for cash - there SHOULD be no ID required, Thats the whole point of having cash on you & $US is the worlds reserve currency! We then demanded to see the manager of said branch (my business bank manager)... he stuck to the ID thing, and wouldn't budge because he said th4e law wouldn't allow him too! I then demanded to close out ALL my accounts there and then - in CASH and he went all wobbly and apologetic at the knees etc. In the end the ONLY solution was that, because I had an account at the branch and was a customer who's ID is known and on record, I could deposit the funds to my account and withdraw the exchange amount from my account and hand it to my friend from the US. In the end that's what we did - (all this to buy a pack of smokes for christ's sake). When I deposited the $US to my account, i had to sign a sworn statutory declaration about the transaction for bank records stating all manner of things about the fact that these weren't known forgery notes to my knowledge and they weren't obtained by me as the result of any illegal activity outside of Australia's shores etc and so on! The simple fact is that there's so much counterfeited US currency around the world nowadays that foreign banks are leary of exchanging $US. The Ruskies and Chinese and others have been printing US currency now for so many years, that the worlds simply awash with fakes and on top of that its become a fiat currency as well now due to running the printing presses non stop day and night and devaluing the $US. The simple facts are that $US paper money is old technology - so old that its easily counterfeited these days. If you want to see "modern paper money" actually get hold of $ Australian currency and you'll see it's made of plastic, not paper (which lasts more than 10 times longer in circulation than paper notes), and is far more cost effective and contains many more technologies beside the usual water marks and stripe etc to prevent counterfeiting such as black light visible holographic images of our national crest etc in a clear plastic window. (You can't photocopy that even with a color laser printer)! cont below

Anonymous said...

Cont from above
So - the point is that - in today's world I can understand banks not accepting paper cash money in large sums - for fear of getting worthless paper thru either fiat devaluation of the currency or counterfeiting. My US friend was so impressed by our colorful and durable plastic money - that before departing for home, we went back to the same branch of the same bank - this time with his passport in hand and exchanged more $US for the colorful set of Oz plastic play money so he could show his friends and family back home stateside. I believe he has them framed & displayed on his wall, as a reminder of his visit down under. He reminds me of our backwoods ways to this day, that ours is the ONLY country he has visited anywhere in the world, where a local bank won't accept the worlds reserve currency the $US, in an exchange for local coinage and cash without producing photo ID in the way of a passport or photo bearing drivers license! The whole exchange thing of large sums of cash - is being legislated now days to try and prevent cross borders drugs deals & financing of terrorism cells etc. Wire transfers are easier for the authorities to track if needed. So a word to the wise - without ID - your cash could well be useless to you! After this event - i had contact with Fed politicians about the potential damage to international tourism with the problems we encountered - and he ignored me! About a month later, a whole cruise boat pulled into the same port with 2 or 3 thousand US passengers - who all got off the boat and went ashore to buy up local goods - and their passports were aboard the vessel in the purser's safe for safekeeping! Without them all of the passengers encountered the same problem - local traders had no idea of the daily exchange rate, so they all went into the big 4 National banks in the town to find out they couldn't exchange cash for cash without photo ID which was back on the boat! They couldn't buy a coffee even... so they all went back top the ship very unhappy & complained long and hard to the captain, who after finding out its an Australian LAW, and there are no exceptions even for small amounts of the worlds reserve currency, called all his passengers back to the ship and sailed off - declaring that no vessel from that line would ever visit this country ever again! It was a big issue in the news and the Govt tourism departments and big tourism businesses, all got onto the politicians and the TV news etc complaining about how such a stupid law ever got thru parliament. Govt ignored it, and the law remains - simply your $US is useless in our country unless you have photo ID drivers license or passport with you and even then you have to swear and sign a declaration at the bank to be able to exchange dollar 1! So much for the worlds reserve currency the much vaunted but now worthless $US. Good luck when the SHTF and you plan to bug out to the south pacific etc with a pocket full of worthless $US - expecting that you can buy your way outta trouble. Without that photo passport ID some people are going to be awfully disappointed - just a heads-up in advance!. Cheers!

Door said...

This has always been the case: However, the Bank manager and the employee never heard of converting the cash into a Bank Check:\ Or how about depositing the funds into a GL account and contact Mtg Servicing to pull the funds:\

Anonymous said...

Under the law, tender of payment discharges the debt. They should dig up enough money in cash to pay off the mortgage, and offer it. As soon as it is refused, the debt is ended. The mortgage is discharged, full & clear. Record audio & video, of course.

Rob said...

As much as I loathe and despise Bank of America (and all commercial banks in general), something seems a bit fishy here. I would like to hear the BOA branch manager's explanation as to just why they were refusing to accept a cash payment for his mortgage. If he was well behind on the mortgage and it is in foreclosure, which I've seen alleged in this case, of course the local bank branch wouldn't accept a single month's payment on it.

BOA has a LOT to answer for, but this one strikes me as a deliberately staged setup to make them look bad. They are rotten enough for people to condemn without needing phony dramatics. Unfortunately, a lot of Liberty loving people are jumping on this story, and it's probably going to end up with them looking foolish.

Anonymous said...

U.C.C. - ARTICLE 3 - NEGOTIABLE INSTRUMENTS , PART 6. DISCHARGE AND PAYMENT

§ 3-603. TENDER OF PAYMENT.

(a) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract.

(b) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an indorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates.

Anonymous said...

Stamp that "bill" with ACCEPTED FOR VALUE! That IS your "payment!"

Oh... Where is Behemoth with all this "tricks?" He is, oh, SO GOOD with all these papers and making any document "official-looking..."

Anonymous said...

what would have happened if the fireman and wife brought along some kind of legal witness like a certified friend, notary/CPA or lawyer?then witness proof and voice recording might have allowed the banks'/refusal of legal tender,a more solid case of technical/legal violations/'default'.
even bringing along a good off-duty cop,might have been better,but instead the video taping caused all kinds of reasons for the bank manager to halt the entire scene.that shows the customer was looking for trouble,knowing a camera in a bank has it's complications.
grandstanding is what really happened,sorry charlie......

Anonymous said...

Seems like this whole thing should be a big clue... the banks tell us they are lenders... that they use some sort of proprietary system to get you the money... but they also get to exchange currencies with the loan paperwork derived from you bearing your wet-ink signature... (a true creditor that you are) a promissory note from you is treated as money of account, which at some point in their process... they some how sell the note... somehow losing it... they play games... with holding your payments, then later reporting to the IRS the funds abandoned... taking your cash payment becomes one more layer of unjust enrichment, and Viola! There can be no cash accepted because that would be money laundering for a true debt that was never incurred, you created the money with the note... they owe you... problem solved. Now you need to write to be free!

Anonymous said...

Legal Tender Laws. The bank has no choice but to except the Federal reserve Notes as payment, or the dept is extinguished. Read the legal tender law, I don't know the exact USC code number, but I know for a fact that once you tender a federal reserve note, if it's rejected the debt is extinguished. Everyone has to take federal reserve notes as payment. Bank of America can be sued big time over this.

Anonymous said...

The bank knows that paper is worthless and they're exercising the same right of refusal of those worthless fiat rags as everyone else has. Stop patronizing those private tokens and demand payment, instead of incomplete PROMISES to pay.

Anonymous said...

Forget paying the bancks now-you have them saying no on vid- Thke the money and go buy SILVER-Put that away someplace safe as you will need it for better things-Dont buy a house -i wont and i will kep my money-The day the Banks say no to me is when i have everything i own ready to split .They dont own me-when they do they will kill me because i wont do what they want That is to succumb to their wishes. I thot i lived in a FREE country until i woke up. Take that money and buy SILVER and always have an exit planned-

Anonymous said...

Guess that ".. all debts, public and private" is against their policy! F b of A! They aren't an American bank, and this is proof. I know its against my policy to deal with those fools. This fireman deserves a $5 charge just for dealing with em, but owing them anything is a sin. I understand he was behind, and was doing whatever he could to stop foreclosure. Who wouldn't? It should be against American policy to use that bank, and we will see who needs who. Same snakes who took the bailout?(wasn't cash, just a number) Ya get what ya pay for, even if it is little late! He's a fireman, shouldn't be a problem if the house burns. Let's give em a Countrywide reception, what better reason to take your cash from em, they are about as unamerican as a bank can get.

Anonymous said...

Dear Activist Post

You should set the record straight - Cash is accepted for home loan payments on any UN-restricted accounts - Which Robert Somerton does NOT have. 'The whole story should be told!

Anonymous said...

Mortgage payments have to be made via check or money transfer. I have always paid my mortgage via check. the bank should help facilitate the payment by other means.

Mfskinner said...

Money is a tool to control and extract the value of your labor. It is used to keep the masses form realizing that the banks and corporations do no town what hey are selling you.
Now you want change? If you really do want change dwell on this what if we all stop accepting and using money. That is what I said stop giving the power over you to someone else. Imagine the pile in their diaper when that happens.

Mfskinner said...

Money is a tool to control and extract the value of your labor. It is used to keep the masses form realizing that the banks and corporations do no town what hey are selling you.
Now you want change? If you really do want change dwell on this what if we all stop accepting and using money. That is what I said stop giving the power over you to someone else. Imagine the pile in their diaper when that happens.

Anonymous said...

They wouldn't have taken any kind of payment because it was sent to collections? If that's true, then that kind of takes the fun out of this article. Still, most of the points posted in replies are true. Cash (paper money) has kind of hit it's end run. It had a nice century... It became heavily accepted after many centuries of being considered a poor substitute for gold. Precious metals and electronic payments are probably going to be really popular in the 21st century. Using USD to exchange between governments was fun while it lasted!

The $10000 thing is just plain stupid. There's more effective ways to move billions over the border. The scary thing is the 'exit tax' that encourages people to keep their money outside the USA = less jobs, less growth, more wealth flight, and exponential collapse of tax revenue.

Muhammad Amir said...

Cash (paper money) has kind of hit it's end run. It had a nice century. PPI Claims helpline

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