Great thread!If I were to give advice I would probably suggest that one only deal with banks whose directors, senior counsel mail, fax or email information can be readily obtained...
I am only interjecting with a term that often eludes me - "Tariff". Once I was requesting the "treaty" and the bank employees were playing dumb, I think. But I really need to get the correct terms off the tip of my mind.
This is the contract with the OCC for the bank to exist as a bank. Since it is revised on occasion it will probably be in the form of a large three-ring binder. I contracted to edit tariffs for telecommunications companies and have never viewed one for a bank. But through 120 suitor on the brain trust, living vicariously I hear that if you request to read the tariff at any bank, they will play dumb at first. After you insist to see it, the manager will bring it to the lobby and you can set and read through it, no copying and in front of a security camera to be sure of it.
The real secret to successful redemption with professional bankers is revealed by Michael Joseph above. And Doug too - that the demand is transaction based. You should start the opening contract with it but some times you like your current bank so you should go correct the Signature Card. The secret MJ reveals is never to be desperate to keep that bank. There are many other banks eager for your business. If you know how to carry yourself, and you will become that way soon if not already, then you can make a minor point about special deposit and restricted endorsement easily and clearly.
You are not there to patrol the bank.
But you have every right to supervise your transactions and make a demand that is clearly allowed in law. If you walk out without a contract consider that the ignorant bank manager's loss. He is the one violating fiduciary responsibility to get your business. You should just be satisfied that if you reported him to the shareholders, you might get him in trouble. But don't bother, there is another bank on the other corner...
P.S. Some day with an hour to kill I will pretend interest in opening up an account. Then ask to read the tariff - BEFORE opening an account. I enjoy such daydreams... an hour to kill...
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