How to Deposit a Promissory Note at CHASE Bank

Any questions regarding Promissory Notes

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Re: How to Deposit a Promissory Note at CHASE Bank

Postby Dave01 » Thu Dec 29, 2016 12:44 am

Bank of America won't play ball. Chase called for more details, but I can't talk to strangers by phone.
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Re: How to Deposit a Promissory Note at CHASE Bank

Postby Dave01 » Thu Dec 29, 2016 3:46 am

The OP of this thread is Fxnoob on YouTube, posted a tube of a phone call with the Chase lady, no follow-up there either. Apparently has a Facebook page, I'll post a link if I find it.
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Re: How to Deposit a Promissory Note at CHASE Bank

Postby Dave01 » Fri Jan 06, 2017 7:31 pm

No progress. I got my postal receipt that Chase got my big notes on Dec 27, so their 10 days are expired. 10 days is how long I specified on each note. I don't understand why they won't do on request what they do all day every day in secret. It is legal, it is profitable, what's the problem?
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Re: How to Deposit a Promissory Note at CHASE Bank

Postby Dave01 » Sat Jan 07, 2017 1:01 am

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Re: How to Deposit a Promissory Note at CHASE Bank

Postby flyingfish » Sat Jan 07, 2017 7:47 pm

What do you think's the issue? The problem with promissory notes in the UK is that there's no obligation for anyone to accept one as settlement. They may be perfectly valid with a real value, but that doesn't force anyone to take that form of payment. Same as I couldn't expect to say pay my council tax with a few sheep - the sheep have value and can be traded, but are not legal tender.
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Re: How to Deposit a Promissory Note at CHASE Bank

Postby kaden7aubert » Wed Jan 11, 2017 2:26 am

Right, but aren't promissory notes considered legal tender?
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Re: How to Deposit a Promissory Note at CHASE Bank

Postby flyingfish » Wed Jan 11, 2017 9:42 am

kaden7aubert wrote:Right, but aren't promissory notes considered legal tender?

Not in the UK. Neither are conventional cheques.
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Re: How to Deposit a Promissory Note at CHASE Bank

Postby Dave01 » Thu Jan 12, 2017 10:51 pm

Same problem here, noone's required to accept them, but there is a way to get the debt voided if they refuse to accept one as payment.
In New York, the latest UCC isn't "law" yet, so what I'm trying needs to go through an SEC-registered broker, or be done as a UCC section 8 Security. The only broker I've found who has done anything like this wants $8K up front. So I'm working on alternatives.
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Re: How to Deposit a Promissory Note at CHASE Bank

Postby sl777m » Wed Jan 18, 2017 7:12 pm

What does he do? And would you consider a crowd funding thing to raise the 8k?
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Re: How to Deposit a Promissory Note at CHASE Bank

Postby Dave01 » Mon Feb 06, 2017 8:04 pm

I finally got a response from Chase, by FedEx this morning, about the $500k note.
I sent it to NYC, NY, but this came from another state.
Further, it gave no reason, only a lame excuse. I may post their exact wording later, but right now I'm already thinking about my response, using what I've learned since then.
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