JPMorgan Chase has irked its customers by imposing new capital controls that mandate identification for cash deposits and ban cash being deposited into another person’s account. Air Force veteran Kristen Meghan received a letter from Chase informing her of “changes in how we accept cash deposits.” “When making a cash deposit please; be ready to show a valid ID – deposit only into accounts that list your name,” states the letter. The move is another example of how banks are becoming increasingly invasive and restrictive with how they treat their customers, while crypto-currency alternatives like Bitcoin offer total anonymity. According to Meghan, when she asked a Chase bank teller why cash deposits couldn’t be made into another person’s account, she was told that the new regulation was imposed by government request. More
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