Banks are being told to call the cops if someone attempts to withdrawl $5000!

[FluffyCorleone]

France has something similar where they ban large transaction: http://www.zerohedge.com/news/2015-03-23/fighting-war-terror-banning-cash

The government just doesn't want you to have money. This is why something like bitcoin is heavily appreciated.

 

[roxxthe96er]

3% really? if this was true lol

That's how the mutual funds related to gold are going

 

[WheresWallace]

The same way cops make "drug seizures" and rob drug dealers of their work...they will make "SAR Seizures" rob working citizens of their cash.
Oh, and you KNOW that black people will be disproportionately victim of wrongful seizures. Even if the cop doesn't steal the money, if they charge you with fraud or something, that money will then have to go to a lawyer so you loose even if you aren't convicted.

Cops have shown that they aren't mentally capable of being in any arbitrary position because they always abuse their power.

 

[The_King_of_Everything]

It use to be 10 grand

 

[TRFG]

If it's more than 3k you should be wiring the money or using ACH

 

[Big Boda]

If it's more than 3k you should be wiring the money or using ACH

Explain?

 

[ORDER_66]

If it's more than 3k you should be wiring the money or using ACH

I heard wire transfers are tracked big time by the government. That's how they start to suspect you. If your able to do a "blind" wire transfer to an account that's offshore then yeah go do it. But any crazy amount in excess of 10k IRS jumps in right?

 

[Flay Mayweather]

I heard wire transfers are tracked big time by the government. That's how they start to suspect you. If your able to do a "blind" wire transfer to an account that's offshore then yeah go do it. But any crazy amount in excess of 10k IRS jumps in right?

They are.

Everything over like 5k gets reported to the IRS and flagged by the government

 

[Food Mane]

I work in US bank compliance and none of this is true. Yes, banks are asked to file a suspicious activity report if they feel the account is being used for illegal activity. Yes, transactions of over 10,000 trigger the filing of a Currency Transaction Report. None of these events prevent the bank from giving you your money. None of these events will have the police coming to your branch or your home. At most, the bank's regulator will ask the bank to freeze the account if they see multiple SAR or CTR from the same account in short period of time.

Also, these rules have been around forever. Since the Bank Secrecy Act became law.

If you want to avoid them just bank with an institution that isn't FDIC insured

But that's not a good idea for a million reasons

 

[ORDER_66]

Which banks is not FDIC insured...??? And what services do they provide?

 

[Food Mane]

Which banks is not FDIC insured...??? And what services do they provide?

Banks aren't required to be FDIC insured. Some state chartered banks aren't. Credit unions aren't FDIC insured either. I think NCUA has some sort of comparable insurance though.

 

[TRFG]

They are.

Everything over like 5k gets reported to the IRS and flagged by the government

Doesn't really matter. Anyone with means can track em, government or not. Wires are way easier btw,imo.

 

[ORDER_66]

Banks aren't required to be FDIC insured. Some state chartered banks aren't. Credit unions aren't FDIC insured either. I think NCUA has some sort of comparable insurance though.

credit unions I totally forgot about them...

 

[TRFG]

Explain?

If you have to withdraw 3k or more for someone or business. It's easier to do a wire transfer instead of a cash transaction. It's safer, faster and there's a paper trail can't say I never made payment .

credit unions I totally forgot about them...

I see more and more credit unions getting FDIC insurance nowadays.

 

[Food Mane]

If you have to withdraw 3k or more for someone or business. It's easier to do a wire transfer instead of a cash transaction. It's safer.



I see more and more credit unions getting FDIC insurance nowadays.

Yeah? I have not heard of that. Didn't even know it was possible.