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Submit Negotiable Instrument to Bank

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Mark Reno

Glorious Independence Day everybody! I have some REALLY cool insider info. LEGIT insider info. As in...NOT hearsay insider info! 

So...first, it has been a while since my sister has worked at her previous job...so, I do have a good reason for forgetting that she worked in the background security division of a bank. She was one of the people responsible for catching illegitimate and illegal transactions. 

"Yeah... Okay... Why should I care???" Just bare with me a sec!

I was talking to her on the phone this afternoon and started telling her about state national theory, and such. Turns out, she had already heard about it and had looked into it a bit. Let me jump ahead to the good part...

So, I started telling her about the actual definition of money vs negotiable instruments...and pointed out that although it IS illegal to copy the FRNs and coin our own money...it is entirely legal for us to create negotiable instruments. It was at this point she stopped my cool-factor momentum with a simple, "Oh yeah. We had a guy who regularly came in and submitted his negotiable instruments to us." 

So, not only did she verify the creation of negotiable instruments is absolutely fine and legal...BUT...and this is the IMPORTANT PART....she told me there are two possible outcomes of doing so. 

Banks DO have the option of accepting your negotiable instruments. NOTICE...I said "OPTION". They DO have a way to reject them if they so choose. What happens if they choose to reject them? They MUST immediately terminate ALL your accounts, give you your money, and permanently ban you from their business! 

Oh yeah, I know...fear...terror...spooky... smh...

Simple to deal with. She said banks are ALL familiar with this possibility. ALL BANKS. Not some...ALL. They do NOT like NI's submitted that look unprofessional. The one she worked at simply asked their client if he would start doing his NI's on professional letterhead instead of plain paper. 

SO...IF you want to submit an NI to your local bank...do NOT just walk in and present it for deposit or exchange. IF they do not want to accept it...you will find yourself suddenly perma-banned from that bank...with no recourse. Go in and ASK THEM how they prefer NI's to be presented for deposit...and follow their request. AND...if they won't take your NI...they don't have to immediately terminate all your accounts and perma-ban you.

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Marilyn Falu
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That's a great share! Thank you for sharing.

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Mark Reno
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ADDITION:
I went into my bank today and asked them what their preferences were for submission of NI's. They said they had never heard of a person doing such before, and asked if this was related to the "sovereign citizen" movement.

I laughed and said something to the effect of, "No. Sovereign Citizen is an oxymoron. People claiming to be sovereign citizens are stupid and don't know what their talking about. This is related to state nationals though." She indicated she was relieved it had nothing to do with the sovereign citizen movement, but had never heard of state nationals.

So...yet again, the biggest battle is lack of knowledge. I did inform them they needed to get it sorted out because they would be hearing about people submitting their own NI's more frequently going forward. AND...that it was a felony for the bank to reject it.

She huffed a bit at that and said their attorney would decide that. I told her, "No, actually, he won't. It's already black and white law."

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Kendra
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Mark...are you planning on submitting one yourself to the bank? If this is the same Mark I was friends with on Facebook didn't you work at one of the banks yourself?

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Mark Reno
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@Kendra - Once I get a few things sorted, I absolutely intend to do so. Not sure if we were FB friends. I checked and don't have anyone on my list with that name. That said, I have not ever worked at bank. So, if the person you are thinking of did, then it definitely was not me.

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Lerin Dees
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Thanks for this information! What did your bank say about how they wanted the NI's? And how do you create them?

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Mark Reno
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@Lerin Dees - they didn't. Either they were completely in the dark about it, or were lying about not knowing anything about it.

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Rachel Naples
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Hi Mark,
You stated that if a bank doesn't accept the NI that it is a felony. Can you please explain this? I thought that UCC states that the holder of the NI has the option to present it or not. Is it a felony if they keep it and do not return to the holder in due course?

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Yakeisha Allen
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Thank you for sharing this…very detailed and to the point! I will be contacting my bank today.

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Mark Reno
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Keep in mind, it is likely whoever you talk to is going to be almost entirely ignorant of all state national stuff. AND...they are likely going to ask if this has anything to do with the "Sovereign Citizen movement". You will most likely need to explain Sovereign Citizens have nothing to do with what you are talking about. AND...you will likely need to explain the difference between money and currency. I realized, a few days too late, that the primary problem I was having attempting to explain about negotiable instruments was the difference between money and negotiable instruments. They likely don't know Federal Reserve Notes are NOT money...but merely debt exchange instruments. If you can get them to a point of understanding this, then it is a simple matter to explain, the "money" created by the drawn up negotiable instrument isn't "money" but merely debt exchange paper...EXACTLY like Federal Reserve Notes. It is your signature and the promise to pay that creates the value.

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Kendra
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I was booted off of Facebook 3 years ago....this Mark lives in Missouri....last time we chatted his dog had passed away! 

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Mark Reno
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Definitely not me then. I haven't had a dog in many years.