Anyone else ever had this happen? Our church was just charged a fee of $1 per $100 over and above $20k in one month. The reason given was that the Fed charges the bank to pick up the cash. Just stumped over this one. (I'm the financial secretary.)
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Yes, my daughter’s have a cash only business and about 6 months ago they started getting charged for cash deposit. Some banks charge for depositing too many checks. It is all about fee income and they keep coming up with new ways to make money for their shareholders.