Depositing money at the bank

Page 2 - Seeking answers? Join the AnandTech community: where nearly half-a-million members share solutions and discuss the latest tech.

Gintaras

Golden Member
Dec 28, 2000
1,892
1
71
the reason i ask is that a couple years ago, i withdrew a bunch of cash for my emergency / end of the world[/b[ because of bank runs fund, and now i would like to put it back into the bank.


Why not to wait for another end of the world? 2012?
If you want to put your money back, ask bank, if you'll be able to withdraw your money in another world - just in case of emergency.
Also, ask bank about currency transaction rates to another world currencies, will your currency will be accepted in another world.
 
Mar 16, 2005
13,856
109
106
Why not to wait for another end of the world? 2012?
If you want to put your money back, ask bank, if you'll be able to withdraw your money in another world - just in case of emergency.
Also, ask bank about currency transaction rates to another world currencies, will your currency will be accepted in another world.

security issues, don't want to have that much money laying around anymore.
 

Capt Caveman

Lifer
Jan 30, 2005
34,543
651
126
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.

Correct. I've deposited over $100k after selling my house and the only issue is that the check can take up to 10 business days to fully clear.
 

Gintaras

Golden Member
Dec 28, 2000
1,892
1
71
Correct. I've deposited over $100k after selling my house and the only issue is that the check can take up to 10 business days to fully clear.

"Fully" clear???
1st day $10K "cleared", 2nd day $20K "cleared"...etc, etc..

Problem with 10 day "clearing". It goes thru Bombey....americans alone can not handle "clearing" without outsourced people in Bombey - differences in hemispheres and differences in timelines...It takes 10 days....
 

SandEagle

Lifer
Aug 4, 2007
16,809
13
0
so its suspicious to deposit a large amount of money now?

its suspicious if you pay off your credit card bill too. this country is ass backwards.
 

Gintaras

Golden Member
Dec 28, 2000
1,892
1
71
so its suspicious to deposit a large amount of money now?

its suspicious if you pay off your credit card bill too. this country is ass backwards.

Federal Reserve may ask: "where from did you get all those $$$ paperbills?

Federal Reserve: last time we printed wallpapers, it was long time ago....
 
Mar 16, 2005
13,856
109
106
Good. How's the food? I'm off topic a bit here, but I really do wonder. It's something that I'd like to do at some point - stock up something like that.

haven't tried it yet. maybe i should..lol. even if it's not the end of the world, i'm sure it'll come in handy if there are any natural disasters.
 

JSt0rm

Lifer
Sep 5, 2000
27,399
3,947
126
The other obvious questions that comes to mind is where exactly do you live? and when will you not be home?
 

Red Squirrel

No Lifer
May 24, 2003
68,474
12,620
126
www.anyf.ca
I would just spend it over time. Instead of using debit for everything just carry like 100 bucks with you, or more, depending on what you want to buy. You'll also save yourself the $1.50 transaction fees, not that you'd care if you have that much money saved up.
 
Dec 30, 2004
12,553
2
76
so its suspicious to deposit a large amount of money now?

its suspicious if you pay off your credit card bill too. this country is ass backwards.

yeah. it's not supposed to be, but it is. Not the credit card thing though, IMO, that's fine.
 
Last edited:

Baked

Lifer
Dec 28, 2004
36,052
17
81
I've deposited over $15,000 in cash money in a downtown BofA one time. Walked in a busted out my paper envelopes and started dumping money on the counter. I got robbed by the bank. Needed a cashier's check. I didn't even know they "flag" you for large deposits.
 

ddjkdg

Senior member
Dec 22, 2001
718
0
0
Lots of misinformation in this thread.

Any time an individual transacts $10,000.01 or more in a day (sum or deposits OR sum of withdrawals) the bank is required to file a CTR. The CTR is used to detect money laundering, so the IRS is not going to care about you creating a CTR one time. There are thousands if not tens of thousands of CTRs filed every day, so no one is going to be calling you and asking where you got that money from. Now if you owned a convenience store and regularly deposited $5,000 cash per day for several years and then it suddenly increases to $15,000 every day, they would probably be interested in that.

A CTR only takes a few minutes to complete if you are a customer of the bank, since they already have all of your relevant information (ID, SSN, address, occupation). It does not necessarily require your physical presence since it can be filed up to, I believe, 25 days after the transaction. It will take much longer if you are a non-customer making a deposit into someone else's account since they don't have any of your information and will want to cover their bases.

At exactly $10,000 a CTR is not filed. However the bank may instead file a Suspicious Activity Report if they believe you are structuring your transactions to avoid incurring a CTR. If you walk up and say you are putting $11,000 cash into your account and then change your mind to avoid the CTR, the bank has to file a SAR. They may also do a SAR if they see that you deposited $5,500 on two consecutive days on an account that typically has very few cash transactions since it will look like you are structuring anyway.

Also a Monetary Instrument Log has to be filed if you purchase or cash cashier's checks or money orders from $3,000 to $10,000 inclusive. The point of all of these is to detect money laundering. No reports are required for checks, wires etc because those transactions are traceable. For laundering to actually work the source of the funds has to be untraceable at some point, which is where the cash comes in. Drug dealers/racketeers/etc aren't going to have people write them a check for the heroin they just bought.

The easiest way to put your money back in the bank is to simply walk in and make your deposit and mention to the teller that you took it out just in case emergency a while ago. Because they will definitely be wondering.

P.S. Your money is FDIC insured up to a minimum of $250k in all interest-bearing accounts combined at a single financial institution, and 100% insured in non interest-bearing demand accounts. If things got to the point where your bank failed and the FDIC could not cover the losses, the country would have way bigger problems and cash would not be worth the paper it's printed on anyway.
 
Last edited:

ichy

Diamond Member
Oct 5, 2006
6,940
8
81
FYI, splitting a large deposit into multiple smaller deposits in order to evade reporting requirements is called structuring. It's a serious crime that can land you in federal pound me in the ass prison even if the money itself was obtained legally.

http://en.wikipedia.org/wiki/Structuring
 
sale-70-410-exam    | Exam-200-125-pdf    | we-sale-70-410-exam    | hot-sale-70-410-exam    | Latest-exam-700-603-Dumps    | Dumps-98-363-exams-date    | Certs-200-125-date    | Dumps-300-075-exams-date    | hot-sale-book-C8010-726-book    | Hot-Sale-200-310-Exam    | Exam-Description-200-310-dumps?    | hot-sale-book-200-125-book    | Latest-Updated-300-209-Exam    | Dumps-210-260-exams-date    | Download-200-125-Exam-PDF    | Exam-Description-300-101-dumps    | Certs-300-101-date    | Hot-Sale-300-075-Exam    | Latest-exam-200-125-Dumps    | Exam-Description-200-125-dumps    | Latest-Updated-300-075-Exam    | hot-sale-book-210-260-book    | Dumps-200-901-exams-date    | Certs-200-901-date    | Latest-exam-1Z0-062-Dumps    | Hot-Sale-1Z0-062-Exam    | Certs-CSSLP-date    | 100%-Pass-70-383-Exams    | Latest-JN0-360-real-exam-questions    | 100%-Pass-4A0-100-Real-Exam-Questions    | Dumps-300-135-exams-date    | Passed-200-105-Tech-Exams    | Latest-Updated-200-310-Exam    | Download-300-070-Exam-PDF    | Hot-Sale-JN0-360-Exam    | 100%-Pass-JN0-360-Exams    | 100%-Pass-JN0-360-Real-Exam-Questions    | Dumps-JN0-360-exams-date    | Exam-Description-1Z0-876-dumps    | Latest-exam-1Z0-876-Dumps    | Dumps-HPE0-Y53-exams-date    | 2017-Latest-HPE0-Y53-Exam    | 100%-Pass-HPE0-Y53-Real-Exam-Questions    | Pass-4A0-100-Exam    | Latest-4A0-100-Questions    | Dumps-98-365-exams-date    | 2017-Latest-98-365-Exam    | 100%-Pass-VCS-254-Exams    | 2017-Latest-VCS-273-Exam    | Dumps-200-355-exams-date    | 2017-Latest-300-320-Exam    | Pass-300-101-Exam    | 100%-Pass-300-115-Exams    |
http://www.portvapes.co.uk/    | http://www.portvapes.co.uk/    |