When you request a cashier's check from the bank it is made out to an individual that will be receiving the funds. Why do they need to know what it is for?

Probably for reporting reasons to the IRS.

Big brother needs to know what you do with your money.

Don't put it in a bank.

Typically they don't ask or don't care- my guess is there are so many scams going on with cashiers checks and all other payment methods that it's just precautionary on the banks part. i.e.; if you said it was for a Craigslist Payment- they might proactively warn you about the pitfalls.

Most likely has to do with all the post 911 regulations.

Last one I got at mt bank , the receiver could not cash.

I almost lost a deal over it. NOW I buy postal or Wal-mart money orders.

But to your question....just ask them

I did, their answer, "because we need to know before we can approve it."

It's my money, I am the "approver." lol

Actually it's not money. It's fiat currency and also a promissory note that is owned by the federal reserve. It's not yours. Just sayin.

Interesting. I've never had my bank ask me what the cashiers check is for, even if it is a large amount. Maybe just a nosy teller?

Would this be for when receiver goes to cash it they can verify with the issuing bank that sender sent it to the person?

Or do they not put receiver name in system?

Welcome to the cartel that is the banking industry that is wedded to the federal government.

The dems better rethink the whole redistribution thing. The more wealth I obtain the more I realize lost freedom. I imagine it would be the same for most.

They don't. What bank ?

I was asked that once for a amount over 10,000 they said it was required for the feds.

Patriot Act

You can thank Bush for that one.

I just got off the phone with a local bank and my current bank. Guess which one is puckered up. lol

I withdrew money from my savings account six times in one month once and got a letter in the mail stating if I did it again they would have to close that account.

https://www.nerdwallet.com/blog/banking/how-regulation-d-affects-your-savings-withdrawals

https://en.wikipedia.org/wiki/Regulation_D_(FRB)

The 10,000 dollar cash reporting requirements was put into effect in 1970. If you want to blame someone that blame Nixon. Bush II and the Patriot Act expanded it.

It's another system of the swamp and an example of how people are willing to give up their liberty for "safety"

Steven: that reminds me of a story from a few years back, but AFTER 9-11.

There is no bank where I live and all transactions are either cash or credit card.

I ended up in Anchorage after several months with a bit over 10K in cash I wanted to deposit.

The teller asked me for the source of my funds. I asked what she meant......just to be sure what she was driving at.

Again she said..."what is the source of these funds"? I happily responded with....."The federal reserve". I also pointed out that each bill said so right on the top. She got her manager. We went through the same conversation. Eventually they took my deposit.