Depositing money at the bank

[GotIssues]

Do the tellers really care?

Yes, because they are (as far as I can tell from this thread) legally required to for their jobs.

I'd also suspect that a bunch of smaller deposits would be a bigger flag than one large one. Rule #1: If you act suspicious, they'll be suspicious.

 

[Jeffg010]

I work at a bank and we have to take a required test every 6 months to go over this. All I do is tech support so I never even have any contact with money. If I don't take that test you can be terminated. They are serious about this stuff. The test is easy. You keep taking it until you pass. Then you get a print out that says you passed.

 

[lxskllr]

This is the epitome of "First World Problems".

I have too much money. What do I do with it? :^D

 

[rudder]

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.

At least wait until december 22nd. You just never know.

 

[alkemyst]

OP if you have nothing to hide the currency report does nothing.

 

[Blackjack200]

I work at a bank and we have to take a required test every 6 months to go over this. All I do is tech support so I never even have any contact with money. If I don't take that test you can be terminated. They are serious about this stuff. The test is easy. You keep taking it until you pass. Then you get a print out that says you passed.

Yup, I work for a financial instution but never handle money at all. I still have to take the course every year. They don't mess around.

 

[Printer Bandit]

thanks for the advice, guys. i'm going to deposit the cash at the bank.

 

[Red Squirrel]

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

Comes to show much much of a bunch of thieves the government is. Not only do they tax yo to death when you earn money, but if you happen to store a bunch of it somewhere they'll want to tax you again on it.

Guess in a case like this it's just best to spend it and not try to put it back in the bank.

 

[JDawg1536]

The bank doesn't care. They are required by law to fill out a CTR on any cash transaction in excess of $10,000. If there are lots of cash transactions close to that amount, they will fill out a SAR (Suspicious Activity Report).

 

[Lifted]

thanks for the advice, guys. i'm going to deposit the cash at the bank.

heh, sucker.

:awe:

 

[440sixpack]

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.

MICHAEL: LAUNDERING. TO CLEAN...NO, UH, HERE IT IS. TO CHANNEL MONEY THROUGH A SOURCE OR BY AN INTERMEDIARY.
SAMIR: It doesn't really help us, Michael.
PETER: I can't believe what a bunch of nerds we are. We're looking up "money laundering" in a dictionary.
MICHAEL: Yeah, well, you guys can both eat my ass, ok?

 

[T_Yamamoto]

Update?