Anyone ever heard of a "special" bank account?

[Alpo]

The book was written in 1962. The crook has a fake driver's license. He goes in the bank, tell them he has lost his checkbook and forgotten his account number. The teller asks if it's a special account, and he says yes.

 

He tells them the name that's on his fake ID. The teller can find no record of a special account under that name. He tells the teller to try regular accounts. The teller says there is no record of any account in that bank under that name. He says "oh well" and leaves.

 

The fourth bank he tries this at, there is a special account under his fake name. They tell him the account number, and give him a new checkbook.

 

He then goes to stores, buys expensive stuff, pays with a check and uses his fake ID to prove it's his check, then hocks the expensive merchandise for cash.

 

It all made sense, except the special account. I've heard of checking accounts, savings accounts, and money market accounts. But not SPECIAL accounts.

 

But then, I didn't really pay attention to bank accounts until the mid 70s.

 

[Snake River Clay SASS #34984]

I believe the checking accounts private individuals used was known as a "special checking account ". As opposed to a business or other checking account.

[Grass Range]

No such thing

[Professor Marvel]

My Good Alpo -

 

"special accounts" are typically accounts like "christmas club" accounts, or accounts for children that are not "regular accoounts"

 

here are two examples of "special accounts" at a couple of institutes available in the U.S.:

 

https://www.cefcu.com/personal/save-and-spend/special-accounts.html
Special Accounts
Check out special options for specific needs.

Totten Trust

    Enjoy additional federal deposit insurance and name beneficiaries for your Totten Trust account.

Uniform Transfer To Minor

    Designate a custodian and transfer funds to a minor with the Uniform Transfer to Minor account.

Club Account

    Set up a CEFCU account for your club or organization.

Getting Started

   For personal service getting started with a special account, chat with us during business hours.

 

https://www.hvfcu.org/Personal/Accounts/Special-Accounts

Holiday Club & Special Accounts
We offer accounts that can be opened for a variety of special circumstances,
including accounts held for minors and other beneficiaries, accounts for clubs,
and holiday accounts.
 
Depending upon the features of the account, may be opened as a savings, checking,
tiered money market, or certificate account.

 

hope this helps

prof marvel

[Marshal Mo Hare, SASS #45984]

On 3/21/2019 at 1:52 PM, Snake River Clay SASS #34984 said:

I believe the checking accounts private individuals used was known as a "special checking account ". As opposed to a business or other checking account.

We had accounts like that called NOW accounts, Negotiable Orders of Withdrawal. That was when some banks could not give checking accounts.

[Pat Riot]

I seem to recall the term “special account” when I was a kid with my Dad and we were at the bank but I have no idea what was meant by it. I just remember people at the bank mentioning it. 

[Capt. James H. Callahan]

I think all you have to do is have the bank print in on the address part. A friend of mine used to have a "special" account he used for side real estate business. I've taken a lot of checks and have seen them now and again. I think people just set them up for business, medical, etc to keep it separate and easier from their regular accounts for tax purposes, etc. Probably was used more when people used to write tons of checks.

JHC

[Catlow4697]

My checking account is special when there is money in it

[Colorado Coffinmaker]

PLUS ONE to Catlow