Anonymous asked in Politics & GovernmentLaw & Ethics · 2 months ago

Should banks close accounts for people with non-financial related criminal records?

Obviously I can understand banks not wanting to retain accounts for convicted drug dealers & money launders but I’m trying to gauge opinion on if they should be (many do) closing bank accounts a for convicted murderers/pedos etc? Or should everyone have the right to a bank account?

I work in a bank and come across situations like this. I generally take a view that if there is no risk to them using the accounts for illegal purposes then why not retain them? What business is it of mine if someone has a non-financial related criminal record? What do you think and why?

2 Answers

  • Anonymous
    2 months ago
    Favorite Answer

    One of the good things about capitalism is that it's rare for businesses to turn away customers, regardless of their criminal records or other problems. They don't need to have the right to a bank account...they just need people with your opinion to mind your own business.

  • 2 months ago

    Banks must report deposits of more than $10,000 to the IRS. Other than that banks are not in the business of generally trying to identify their customers as criminals or be concerned in that regard. Trying to cash bad checks could obviously possibly identify a customer negatively.

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