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

[Mowgli]

It's 10's and up at boa

 

[HookersandIceCream]

People without $50 to their names worrying about 5k withdrawals

 

[Da Jungles]

Who cares.

Anyone whose actually making illegal moves is smart enough to know how to get around the bank system. They won't be doing hotboy shyt like making huge deposits/withdrawals.

And end of the day its your money. I can go in the bank right now and close out my account. They can call the cops all they want but they can't do shyt about it.

They can shoot you when you try to show em ID

 

[Behind-the-wheel]

They can shoot you when you try to show em ID

And that's the scariest part of this whole thing.
You go to the bank and take out $5k to buy a used car off your co-worker.
On the way home, the cops pull you over at gunpoint and order you out of the car.
They claim they have probable suspicion that you have drug transaction funds on your person and search your car and body. They find the $5k and bank receipt. Since it's an amount over $300 dollars you go to jail and the money gets confiscated.

You now have a police record and are out $5k
and no one cares because it's all done according to the corrupt law.

 

[Taadow]

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

Thank you for this. I could see the Jump To Conclusions Mats coming out.

I used to work for two banks and this is standard fare.
Matter of fact, if you even have a check come in that big they can put a Reg CC hold on that mugg until it clears.
If you have all the money in the world and wanna get 10 K in cash, you gotta call the bank in advance B.

In short - if your money is in a bank, you share that money.

 

[Food Mane]

Thank you for this. I could see the Jump To Conclusions Mats coming out.

I used to work for two banks and this is standard fare.
Matter of fact, if you even have a check come in that big they can put a Reg CC hold on that mugg until it clears.
If you have all the money in the world and wanna get 10 K in cash, you gotta call the bank in advance B.

In short - if your money is in a bank, you share that money.

I'm kinda at talking about Reg CCs and SARs with dudes on the coli.

 

[Heretic]

I wouldn't walk around with that much cash anyways. Cashier's check is just as good if it's a legitimate transaction between people, if not, that's what my debit card or credit card is for. Usually have to call to get a purchase over 5gs approved but at least you have a paper trail if something goes wrong.

 

[skeetsinternal]

Withdraw $4999.99

 

[Fmju]

I'm kinda at talking about Reg CCs and SARs with dudes on the coli.

This real life breh. We regular hard working people too. It's good to see serious threads sometimes instead of jokes all the time

 

[Food Mane]

Withdraw $4999.99

Transactions designed to avoid currency transaction reporting trigger a suspicious activity report.

 

[jalamanta]

Transactions designed to avoid currency transaction reporting trigger a suspicious activity report.

$4765.34?

 

[TRFG]

And that's the scariest part of this whole thing.
You go to the bank and take out $5k to buy a used car off your co-worker.
On the way home, the cops pull you over at gunpoint and order you out of the car.
They claim they have probable suspicion that you have drug transaction funds on your person and search your car and body. They find the $5k and bank receipt. Since it's an amount over $300 dollars you go to jail and the money gets confiscated.

You now have a police record and are out $5k
and no one cares because it's all done according to the corrupt law.

You deserve to get shot if you're this dumb.

You should be using a check, wire transfer or credit card for that amount.

 

[Uncle Kingpin]

I have had to deal with this bullshyt myself. I recently closed an M & T account I've had for years over this.

Me: I need to cash this check.

Cac: Would you like to just deposit this in your account instead? It's alot of cash to be walking around with.

Me: Just cash the check and give me my money.

Cac: I'm going to have to call my manager. (The cac goes in the back for like 10 minutes) Comes back without my money.

Me: Where's my money?

Cac: We can't cash the check. Couldn't verify the account holder. (It's a check from my business issued to me)

Me:I'm the account holder. You know what, close my account. Give me all my money. in CASH!

Cac: We can't give you cash, only a cashier's check.






How the fukk can someone tell me I can't have MY money!?!?! I know what it really is about. Cash can't be tracked so they want to eliminate anyones ability to make large transactions without the government knowing about it. I don't give a fukk cash is always king to me. And I don't want anyone telling me what i can and cant do with MY money!

 

[d'jarbargel]

Wtf?!? I hope they apply these laws to corrupt WHITE businessmen but I guess they will apply it to minority neighborhoods cause they want to meet a quota. They will not fukk with a rich white man with connection who has money. This sounds like a load of horseshyt.

is this a joke?

or are you retarded?

 

[the cac mamba]

the IRS