Money Laundering. Little to no record. If an illegal immigrant came in to cash a $50,000 check - do you think they would ask questions?
thats my point. who would pay a fee when the banks do it for free?
Money Laundering. Little to no record. If an illegal immigrant came in to cash a $50,000 check - do you think they would ask questions?
thats my point. who would pay a fee when the banks do it for free?
elaborate please
Money Laundering. Little to no record. If an illegal immigrant came in to cash a $50,000 check - do you think they would ask questions?
Banks have auditing all over their ass. That means dollars need to be accounted for at all times. If you have ever worked at a bank and one fo the teller's/cashiers behind the counter comes out of their shift off by $0.50 cents, they will be in DEEP SHIT. In addition, the person will likely have to have an account with the bank which includes handing over a drivers license + SSN (I'm not sure? I've never had to simply cash a check for straight cash). So if a lawn mowing company that doesn't pay taxes cashes in a bunch of check payments - that is a lot more likely to be tracked down. In addition, the same could be said for drug money I suppose. All money leads to somewhere.
At a place that makes some interest off cashing a check, they have no auditing nor do they really have an obligation to (AFAIK - someone else can correct me here). They simply use their liquid assets (cash) to exchange a check payment for their own cash money at the cost of a likely % fee of the check value. One is the most liquid form of money, the other is not. Also, the check place might be taking slight risks if the checks possibly bounce? Again, I've never been to these types of places, so I'm no expert.
Banks have auditing all over their ass. That means dollars need to be accounted for at all times. If you have ever worked at a bank and one fo the teller's/cashiers behind the counter comes out of their shift off by $0.50 cents, they will be in DEEP SHIT. In addition, the person will likely have to have an account with the bank which includes handing over a drivers license + SSN (I'm not sure? I've never had to simply cash a check for straight cash). So if a lawn mowing company that doesn't pay taxes cashes in a bunch of check payments - that is a lot more likely to be tracked down. In addition, the same could be said for drug money I suppose. All money leads to somewhere.
At a place that makes some interest off cashing a check, they have no auditing nor do they really have an obligation to (AFAIK - someone else can correct me here). They simply use their liquid assets (cash) to exchange a check payment for their own cash money at the cost of a likely % fee of the check value. One is the most liquid form of money, the other is not. Also, the check place might be taking slight risks if the checks possibly bounce? Again, I've never been to these types of places, so I'm no expert.
ain't that the truth.
I had no idea it was so hard to get a bank account? I thought you just walk in and sign some papers.A lot of people (millions or over 28% of US households) do NOT have any type of banking or credit union membership. It could be because of bad credit or previous check bouncing or whatever.
So if a lawn mowing company that doesn't pay taxes cashes in a bunch of check payments - that is a lot more likely to be tracked down.
I had no idea it was so hard to get a bank account? I thought you just walk in and sign some papers.
most of what you said didn't make sense, but this part did.
So these places make huge profits(the one in the link had 200,000 in cash at the time) because people cant get a bank account, and they want to avoid taxes? Amazing
Feel free to correct me I'm interested in the answers too given I haven't been to one.
Given the general stance of those types of places, I'm under the impression they don't give a shit as long as the check cashes and they get their interest.
Jesus H Christ on a crutch, do you people ever get tired of trying to find racism in any and everything? The robbers were black men using mask of white men, that's the whole point of the fucking article, and mentioning it doesn't make someone a racist.
Jesus H Christ on a crutch, do you people ever get tired of trying to find racism in any and everything? The robbers were black men using mask of white men, that's the whole point of the fucking article, and mentioning it doesn't make someone a racist.
lol, Jesus H Christ on a crutch, do you people ever get tired of blowing a gasket over nothing? i pointed out a very simple fact that the thread title is "black thieves" yet the OP then posted "uhh, "they're" was referring to criminals. not a race."
my point is valid and you're response was that of a child, or racist, take your pick, lol.
I had no idea it was so hard to get a bank account? I thought you just walk in and sign some papers.
you're still a dbag for race baiting.