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

[thernbroom]

i learned a few things in the thread props

 

[Nomadum]

so if I remove $4,999.00 from my account am I going to be good?

 

[O.iatlhawksfan]

Well look Yall I got 10K saved up in the bank and plan on using 8k to pay off the rest of my car note. It's in my momma's name so I would have to withdraw it. How do I go about that without any problems? We're in the same bank fwiw

 

[Ed MOTHERFUCKING G]

LOTTA misinformation in here

 

[Zach Lowe]

Banks trash anyway
Yayo >

 

[-----]

so they taking it to bank profilin now



http://blogs.wsj.com/riskandcomplia...secutor-banks-need-to-do-more-than-file-sars/

5000 dollars!! Can nikka live?!?!

 

[*L*E*G*A*C*Y*]

@this thread lowkey exposing broke dudes who never had any significant amount of money in their lives

Me included. But hey? I learned something about how to manage money and invest and whatnot that's why I like the coli.

 

[Super Future Luther King Jr.]

Well look Yall I got 10K saved up in the bank and plan on using 8k to pay off the rest of my car note. It's in my momma's name so I would have to withdraw it. How do I go about that without any problems? We're in the same bank fwiw

Take out like 4k twice in several weeks with time in between and hold onto it

 

[jwonder]

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?

Maybe over seas they will suspect something. I did a 20k transfer from my BOA account to Allybank without a problem.

 

[Meowth tote da Uzi]

Jobs be trying to act like they can't hold on to your check or get that shyt mailed to your crib (even if that is risky these days). these cacs talking about i needed to get direct deposit because it was costing the company money to send me my check -___-

 

[The Devil's Advocate]

It aint about the withdrawls. Its about the transactions.

If you your income, doesnt equate to how you recieve deposits and withdrawls from your sources..

Of course they gone red flag yo ass.

how would the bank know your income??

even if i deposit my work checks... they still have no fukking idea how much money i make a year, nor where else i keep it

 

[The Devil's Advocate]

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.

they mean call the cops in general... like call and let them know, so someone can start an investigation

you know how many damn calls would go out nationwide for this.... and then the cops gotta show up EVERYTIME... even though there is no crime being committed.. you can have 100 million in cash on you... that's not a law being broke, nor probable cause for a cop to pull you over, or even ask you a question about it

 

[The Devil's Advocate]

nah, this $5000 deal is about tracking drug money

bank runs are a hallmark of paper currency. Today's consumers use digital credit, created and destroyed at the federal reserve on a keyboard.

And even if consumers suddenly demanded it in cash, (A) Rich people don't keep their money in banks anyway, so the "run" would necessarily be small and involve the poor/middle class and (B) They'd just be told "No" and there isn't shyt they can do about it. That solves the bank run problem right there.

this doesn't even make any sense... so if i have $30,000 i can't walk in and get it.... but if i wrote a check for 30k, i could use it in an instant? or charge my card 30k..

i mean i can give them a few days right? like i call on monday, hey nikka i want my 50k, i'll be pulling up on next monday to get it...


i mean at SOME point and time... they got to be responsible for giving you your money... what if you closed out the account completely and asked for your money in cash... 100000% legal money.... they still don't HAVE to give you the money?

 

[d'jarbargel]

this doesn't even make any sense... so if i have $30,000 i can't walk in and get it.... but if i wrote a check for 30k, i could use it in an instant? or charge my card 30k..

i mean i can give them a few days right? like i call on monday, hey nikka i want my 50k, i'll be pulling up on next monday to get it...


i mean at SOME point and time... they got to be responsible for giving you your money... what if you closed out the account completely and asked for your money in cash... 100000% legal money.... they still don't HAVE to give you the money?

the way i understand it, the bank can't legally prevent you from withdrawing, say, $50,000 in cash.

however they can make you wait. i think 7 days.

the sort of context where i think they'd say "no" to cash withdrawals, is a crisis situation. a hypothetical bank run. and that is speculation on my part about what i think would happen. I say that because it has happened before.

 

[d'jarbargel]

Well look Yall I got 10K saved up in the bank and plan on using 8k to pay off the rest of my car note. It's in my momma's name so I would have to withdraw it. How do I go about that without any problems? We're in the same bank fwiw

you and your mom go to the bank

tell them what you want to do, and sign the paperwork. They transfer the funds from one account to another.