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

[FeloniousMonk]

Posting from my tab sucks

 

[FeloniousMonk]

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

They dont know your income, but they do track your banking habits and patterns and how much is in your saving and checking, correct?


If you depositing the same size checks from the same company with the company name on the check, months on end, not irregular deposits and withdrawls of varied amounts. They will assume that its a paycheck.


If you deposit a check in a bank, arent you keeping it in a bank, fukk you mean they dont know where its at?


The bank doesnt know how much you make a year, but the IRS does

 

[lenfantdelacapitale]

Ecobank (Pan-African). No branches in North America (African & Europe only)

United Bank of Africa.

 

[The Devil's Advocate]

They dont know your income, but they do track your banking habits and patterns and how much is in your saving and checking, correct?


If you depositing the same size checks from the same company with the company name on the check, months on end, not irregular deposits and withdrawls of varied amounts. They will assume that its a paycheck.


If you deposit a check in a bank, arent you keeping it in a bank, fukk you mean they dont know where its at?


The bank doesnt know how much you make a year, but the IRS does

You are aware people keep multiple accounts at muktiple banks right?

Yea I deposit 50k a year in my bank

What about my tshirt business I got on the side that I deposit in another bank?

And my mom dying and leaving me 300k I put in another bank?

And my 2nd job I work weekends. And.......



That's what I mean. They'd have to assume all the money they get from me, is all the money I make and have

But again. Most people with money, spread their money around to different banks and investments. ONE bank wouldnt know that. And would keep false flagging me on deposits and withdrawls, everytime I felt the need to move more than 5000 around

 

[FeloniousMonk]

You are aware people keep multiple accounts at muktiple banks right?

Yea I deposit 50k a year in my bank

What about my tshirt business I got on the side that I deposit in another bank?

And my mom dying and leaving me 300k I put in another bank?

And my 2nd job I work weekends. And.......



That's what I mean. They'd have to assume all the money they get from me, is all the money I make and have

But again. Most people with money, spread their money around to different banks and investments. ONE bank wouldnt know that. And would keep false flagging me on deposits and withdrawls, everytime I felt the need to move more than 5000 around

You speaking on varibles that would be considered.

If you have a pattern of deposits and withdraws, no red flags.

If you been making varied amounts thats abnormal to that account..it will look suspicious.

Thats all Im saying..

Having a business account is a diff ball of wax.

 

[HollowPoints2]

so they taking it to bank profilin now



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

Oh shyt,I thought it was ten thousand.

Something bad is about to happen for the feds to do this.

 

[Free White & 21]

I was doin some things a few years back that required i make 3-5k deposits in one city and withdraw them in another the city within 24 hours. Did this about 3 times a week for about two weeks and my account was placed on 'hold'. My black branch manager told me straight up "I don't know what you're doin but you better cut that out. Your account has been red flagged" She told me that moving 3k or more in and out of your account so frequently was considered suspicious activity and could get your account suspended.

I guess they steppin up now and tellin bankers to to call them people on you when you pulling paper out - not surprised. I think I better take my gold teeth out before i get my money now

 

[Free White & 21]

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!

Naw my nikka ASSETS IS KING but you on the right track

The main reason the banks don't wanna give you large amounts of cash is because they practice what is called Fractional Reserve Lending (legal counterfeiting) and they don't keep a large amount of cash at most banks.

What they do is analyze what your particular bank is expected to dole out per day and keep that amount (with some extra for margin of error) on deck for their customers' needs. When too many people withdraw large amounts at once it fukks up the paper and they can potentially run out of money for the day. That's why they say you should call them and see if they can make your large withdrawl happen before coming into the bank

 

[Uncle Kingpin]

Naw my nikka ASSETS IS KING but you on the right track

The main reason the banks don't wanna give you large amounts of cash is because they practice what is called Fractional Reserve Lending (legal counterfeiting) and they don't keep a large amount of cash at most banks.

What they do is analyze what your particular bank is expected to dole out per day and keep that amount (with some extra for margin of error) on deck for their customers' needs. When too many people withdraw large amounts at once it fukks up the paper and they can potentially run out of money for the day. That's why they say you should call them and see if they can make your large withdrawl happen before coming into the bank

Salute! Good to see somebody understands the point I was getting at earlier. The banks dont have the money on hand due to reckless fractional reserve lending and have extended it to a point where there is a financial crisis they aren't speaking about. This whole thing isn't about drug money, it's about banks not having enough physical currency on hand to conduct business. They get a short term loan in cash on monday at 0% from the federal reserve and pay it back on friday when direct deposits come in. There is sooo much digital money that at some point very soon the system will crash unless they eliminate paper currency and go to a strictly digital currency. It's getting to the point where banks can't even do what used to be normal day to day business.

I agree 100% as far as investments go, my primary investments are in assets never savings accounts outside of emergency liquidity needs but I try to do most of my everyday transactions in cash. I have a swiping problem, I just swipe swipe swipe with no regard for how much I've spent. When it's cash in my hand I am more cognizant of how much I'm spending. It's easier for me to stay on a budget when I look in my wallet and see hardly any money as opposed to a card. Plus I sometimes can negotiate a better deal with small businesses when paying in cash. Small businesses love cash, no merchant fees to pay or waiting for credit cards to settle or worse Amex not paying you until they get paid.

 

[Blackout]

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!

Have you looked into a black bank?

 

[Uncle Kingpin]

Have you looked into a black bank?

Yeah I got an account with Harbor Bank the biggest black-owned bank in Maryland. They just don't have enough branches for me to use them as a main account. I'm an active participant in the black financial empowerment movement. Whenever possible I go out of my way to use black owned businesses to do my part to keep the money circulating within our community.

 

[Bawon Samedi]

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

This is why I hate when people believe every little shyt on the internet. Recently they were believing that dumb shyt that Jay Z bought 2pacs unreleased music. Now this nonsense????

 

[moa213]

I took out $6500 yesterday and no one was called.

I call bullshyt

Thank you, a lot of us first generation Africans withdraw more than 5k to go back home on regular basis and faces none of these lies spread on here. Banks only takes ur ID and questions you when depositing and withdrawing 1OK. I can't count numeral times people will transfer money to my account to withdraw and take it back home. You guys are paranoid for nothing, it also exposes those who makes these transactions regularly compare to the broke ones raving about nothing. Like someone said the cops have better things to worry than being alarm at any 5k withdrawal.

 

[TripleAgent]

I worked at a bank for 5 years. This is all Patriot Act post 9/11 shyt. Before it was 10k, they have to report you and fill out a form to the Fed if you put in or take out 10k at a time. Also, if you make deposits out of your normal "pattern, like a 500 a week nikka depositing 3500. They keep track of people and things like that to make sure you're not "funding terrorism"

 

[UserNameless]

A bank tried to pull that shyt on me once. Asked me a million and 1 questions. Brought out two superiors from the back. 'd 'em the whole time.



Left with my cash, tho.

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.

Sad. So sad and disheartening.

"..trapped in a game where THE TRAP IS THE GAME.."

Powerful, powerful... lupe.










Excellent thread, too.