Depositing money at the bank

[Printer Bandit]

What's the largest amount of money you can deposit with the teller without getting asked questions. $10,000?

 

[JS80]

What's the largest amount of money you can deposit with the teller without getting asked questions. $10,000?

If you look suspicious and you deposit $9,999 they will still flag your ass. Hell, if you deposit $5k one day and $5k the next, they can flag you.

 

[alent1234]

Normally $10k but I was told cash deposits in the $5000 range can also cause the bank to run some checks. Just not rePort you to uncle Sam

 

[Bignate603]

What's the largest amount of money you can deposit with the teller without getting asked questions. $10,000?

Walking in to a bank and handing it over the counter? Not sure. However, wiring money around I've done significantly more than that without any issue at all. Why do you have to hand it over the counter?

 

[JSt0rm]

I deposit 10k in checks on occasion. I dont think anyone has ever looked weirdly at me. Although i do use the atm mostly.

 

[Skillet49]

IIRC, anything over $10,000 they have to do a lengthy report on the transaction but sometimes it can be deposits of over $3,000. They care more about how much cash you are depositing because they can just put a hold on large checks. I don't remember if the $10,000 limit is only cash or cash and check included.

 

[fstime]

If it's cash, 10,000 requires the teller to file a CTR form.

http://en.wikipedia.org/wiki/Currency_transaction_report

Same thing applies if you withdraw >$10,000, basically, anytime >10,000 cash goes over the counter in either direction.

There is no way around this because the bank's system will automatically call for a CTR once the teller inputs anything over $10,000 cash.

If you decline, they will file a SAR (Suspicious activity report).

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The CTR can be completely avoided by simply withdrawing in the form of a cashiers check (bank check) written to the other party (or depositing a personal check/bank check). You can't write one to yourself and cash it because of what I said above.

 

[Printer Bandit]

the reason i ask is that a couple years ago, i withdrew a bunch of cash for my emergency / end of the world because of bank runs fund, and now i would like to put it back into the bank.

 

[Bignate603]

the reason i ask is that a couple years ago, i withdrew a bunch of cash for my emergency / end of the world because of bank runs fund, and now i would like to put it back into the bank.

Why do you really care if they file the report?

 

[Printer Bandit]

Why do you really care if they file the report?

i don't mind, but just would like to avoid the hassle.

 

[Lifted]

Why do you really care if they file the report?

This. It's primarily to keep people from money laundering and for catching drug dealers. One $10k deposit is not going to be worth anyone's time to review unless your name is already in some LEO watch list. If you happen to deposit $10k every few days/weeks and have no job to show for it when asked, and no reported income to the IRS, or not enough to cover it, then Uncle Sam will probably pull out the microscope and stick it where the sun don't shine.

 

[JS80]

This. It's primarily to keep people from money laundering and for catching drug dealers. One $10k deposit is not going to be worth anyone's time to review unless your name is already in some LEO watch list. If you happen to deposit $10k every few days/weeks and have no job to show for it when asked, and no reported income to the IRS, or not enough to cover it, then Uncle Sam will probably pull out the microscope and stick it where the sun don't shine.

It's a hassle, i.e. it sucks time out of your day.

 

[lxskllr]

Why don't you just spend it down? Put 100% of your check in the bank, and use what you have as working cash.

 

[Lifted]

It's a hassle, i.e. it sucks time out of your day.

I agree, but there's no way around it that will save time. Multiple trips to the bank, or trips to multiple banks will probably not save any time.

 

[Lifted]

Why don't you just spend it down? Put 100% of your check in the bank, and use what you have as working cash.

If it's a check I don't think there are any forms to file as it's traceable. I've deposited checks for many times that without questions/forms.

 

[Bignate603]

It's a hassle, i.e. it sucks time out of your day.

Except it doesn't. The bank files it automatically and if they already have your bank account information they should have everything they need for the report.

You're causing more of a hassle worrying about it than you are just walking in and depositing it.

 

[Mike Gayner]

i don't mind, but just would like to avoid the hassle.

The time you spent creating, reading and responding to this thread is more than the time it will take to deposit the money.

 

[JS80]

Except it doesn't. The bank files it automatically and if they already have your bank account information they should have everything they need for the report.

You're causing more of a hassle worrying about it than you are just walking in and depositing it.

I was a teller back in HS and it took 15-20 minutes to fill out info with the customer present. Maybe it's changed in the last decade.

 

[FoBoT]

Why don't you just spend it down? Put 100% of your check in the bank, and use what you have as working cash.

or even better, convert it to something useful
guns/ammo/MRE's, any other 'hard' assets

 

[jme5343]

the reason i ask is that a couple years ago, i withdrew a bunch of cash for my emergency / end of the world because of bank runs fund, and now i would like to put it back into the bank.

So you thought people would still accept cash if things got that bad? Next time use the money to buy this: http://www.survival-warehouse.com/food/3-month_imperial_survival_food.htm

 

[Printer Bandit]

So you thought people would still accept cash if things got that bad? Next time use the money to buy this: http://www.survival-warehouse.com/food/3-month_imperial_survival_food.htm

i did that too.

 

[rh71]

anyone who robbed someone would be stupid to deposit it all into a bank account where it can be tracked from that point anyway.

 

[Bignate603]

anyone who robbed someone would be stupid to deposit it all into a bank account where it can be tracked from that point anyway.

It was my understanding that this was more to prevent money laundering and stuff like that rather than robbery.

 

[Slacker]

a teller can flag a transaction of any amount if they have reason to be concerned.

 

[Slew Foot]

I make 30-40K deposits every few weeks and no one ever files any extra paperwork. At least, not when Im around.