Some banking questions.

[SSSnail]

1. How much of a deposit/withdrawal from a personal account that would prompt a report to the IRS? What about a business account?
2. What's the limit for cash withdrawal with a cashier's check. Assuming that I'm not a member of the bank that issued the checks.
3. Does it matter if the bank is a commerce center or a branch that fund availability varies?

Thanks.

 

[SSSnail]

I know somebody at ATOT has to work for a bank, damn it.

 

[thomsbrain]

i forwarded this post to the IRS. the men in black suits should be knocking any minute now.

and you might try waiting more than 20 minutes for a response before bumping.

 

[KarenMarie]

I think that each bank will have it's own policies in place for these questions.

But I am pretty sure that anything over $10,000 at once or large amounts over short periods of time will set off alerts.

 

[SSSnail]

Anyone?

 

[Turkey22]

There are different types of forms for different things. Over 10,000 per day (even in multiple transactions) triggers a CTR, but any suspicious activity can trigger a report. You may want to be more specific on what kind of fraud you are trying to run otherwise we can't help you get around it...

 

[Nerva]

retail banking FTL

 

[RossMAN]

http://forums.anandtech.com/messageview.aspx?catid=38&threadid=1977352

 

[SSSnail]

Originally posted by: RossMAN
http://forums.anandtech.com/messageview.aspx?catid=38&threadid=1977352

I'm aware of the 10K limit. The reason I asked is because I had some cashier checks that's substantially more than the limit. If I deposit it in my personal or business account, it'll be held for 2 business days and I prefer this transaction not touching any of my accounts. If I take the cashier checks to the bank that issued it, supposedly they should give me the sum as it has happened before. I totally forgot about 9/11, and their policy changed therefore I can't withdraw.

I just want to know what the new policies are from someone in the know, so I can avoid roadblocks, nothing illegal.

 

[tk149]

Originally posted by: SSSnail

Originally posted by: RossMAN
http://forums.anandtech.com/messageview.aspx?catid=38&threadid=1977352

I'm aware of the 10K limit. The reason I asked is because I had some cashier checks that's substantially more than the limit. If I deposit it in my personal or business account, it'll be held for 2 business days and I prefer this transaction not touching any of my accounts. If I take the cashier checks to the bank that issued it, supposedly they should give me the sum as it has happened before. I totally forgot about 9/11, and their policy changed therefore I can't withdraw.

I just want to know what the new policies are from someone in the know, so I can avoid roadblocks, nothing illegal.

Uh huh...sure it's nothing illegal...

Hope you didn't ship that laptop to Nigeria!

Anyway, if you call the bank in a week in advance, that will give them time to order enough cash to cover your withdrawal, unless it's really a LOT more than $10K. We had up to $40K cash withdrawals when I worked at a bank, but we did refuse to give out more than $10K in cash to non-clients who just showed up wanting to cash a cashier's check with no warning. We just didn't have enough cash on hand to be able to do that.

Just let me know what day and time you're going to be walking out of the bank with oodles of untraceable CASH! I promise not to have any associates waiting for you. :evil: