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Bank Notary Services - - BEST Not To Use Bank Of America

Anon456 | Jan 9, 2020 | 238 posts since 2011

I think we all know that most all banks will no longer provide Notary Services for WILLS.

I have found that Bank of America is increasingly narrowing what they will (or more importantly - - WON'T) notarize.

I was denied notary for an IRA Benefit designation change, because the form did not call for nor have space for a notary statement and stamp. Those are fully authorized by our state with what is known as a "short form" which is a standalone cover page for the Notary to use for this purpose.

I had to go next door to CHASE, who happily handled it without a problem.

So point of this post to check with your Bank or Credit Union first for any form that does not already have a specific spot for the notary. AND, beware that Bank of America is no longer a good place for Notary services.

I have used Bank of America for decades, but I think they are getting harder and harder to do business with and maybe time to look elsewhere. Telephone calls these days to them are next to impossible with extended wait times.

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111 | Jan 9, 2020 | 85 posts since 2019

Bank of America has no branches in my area, and I miss that about as much as I miss my last colonoscopy. Chase and PNC Bank have reliable, free notary service in my area.

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me1004 | Jan 9, 2020 | 885 posts since 2010

I'm not so sure it was the bank that was your problem. I expect it was the individual notary. The notary is independently licensed to provide that service, it is not the bank that has the license. The bank simply has someone on the payroll who also is a notary. And if you go to the branch manager about it, they are not the authority about notary and the rules, so they will tend to default to what the actual notary says.

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Anon456 | Jan 9, 2020 | 238 posts since 2011

I thought that also .... but did some research. Bank of America can and does dictate what they will allow. State says what they MAY do, and not that they HAVE to do. Bank of America is the one calling those shots, and I also checked and it is across all the branches, at least in my area. Chase (and others) have said no to WILLS as well, but so far, have fulfilled all other notary requests. ALSO - - I did get a notice from a Wells Fargo notary that they cannot provide a notary of a signature UNLESS the form calls for it with the proper information and spacing for the notary information and stamp.

At first I thought it was just this notary, but turns out she is quoting the BIBLE VERSES given to them from Bank of America.

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me1004 | Jan 10, 2020 | 885 posts since 2010

Yes, I don't doubt you. I know in California, the law says a notary can charge up to $10 for the service for each signature (and that is not each document, but each signature). But the notary assn. has twisted that and convinced the banks that by law, a charge of $10 is required. And at this point, all the banks have adopted that. But no, the law allows any amount, even free, but no more than $10. The notary assn. has managed to turn that maximum into a required charge -- effectively price fixing. I suspect it is partly due to the banks not understanding it -- their knowledge is financial matters, not notary -- and maybe by threats of a "strike" by notaries if the banks don't make that charge.

What this means is that you have no reason to go farther than the nearest notary when you need it, they are all charging $10, whether associated with a bank or not. That is, it no longer is a benefit for having an account at a certain bank. All the notaries all over are charging the same $10.

I don't know the laws in any other particular state, so can't say definitively, but since you looked it up, and say it is widespread, I suspect something similar to what I just described is afoot there too.

The credit unions around me all say they offer free notary to members, but none I have I contacted actually have a notary on staff.

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Ally6770 | Jan 11, 2020 | 2,808 posts since 2010

The insurance agents in my area are also notaries, and many of the people at the front desk are also. In my area even a few bank employees are notorized and it is the bank employees that go through the training for it and the employees pays for it. A few employees in both the banks and credit unions are able to notarize. They never charge in our area. They all (in my state by law) have to keep logs posting who and what they notarize including the date and time. If they do not know you then you have to show picture ID. The log is a legal document and can be used in court. I am not sure anymore if the client had to sign it also.

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Ally6770 | Jan 11, 2020 | 2,808 posts since 2010

Meant to say the employer pays for the notary training.

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