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Anything over 10k, and it gets flagged, with a possible irs investigation. not to deposit, but to bring in a certain amount of cash, and leave with the same amount. fuck this place.

Anything over 10k, and it gets flagged, with a possible irs investigation. not to deposit, but to bring in a certain amount of cash, and leave with the same amount. fuck this place.

(post is archived)

[–] • 4 pts

Do it for less and they call it something else and report it anyway. I ran a retail business that did more than 10k cash sales a lot, ran into issues and the owner found it easier to simply take the cash home than try and deposit it. He would pay vendors with cash too sometimes. Banks are part if ‘their’ control system, use them at your own peril.

[–] • 1 pt

There are times when being paid in cash is good. It's hard to prove that you received any income if there's no paper available.

[–] • 1 pt

Don't convert it into really large denominations, it may be hard to spend if stuff does start to fall over. Change may be hard to make for denominations above $20.

If shit does hit the fan hard, cash is going to be toilet paper.

[–] • 1 pt

If money is worth less, the benjamins will be the only bill that can buy anything.

There's a story where some guy goes to buy groceries with a wheelbarrow full of cash. The store took the wheelbarrow instead of the cash.

[–] • 0 pt

If that happens, it's probably going to be worthless. US cash is cotton rag paper, and will have other uses.

[–] • 0 pt

Doing multiple smaller transactions that add up to $10k or more is called "structuring" and it is a crime. Just do the one larger transaction and let them file their report.

[–] [deleted] • 0 pt

Thats why im upset. Everything I look at talks about deposits. I don't want to deposit anything. I want to hand them a certain amount in loose bills, and get back a strapped bundle of cash in 1 denomination. Shouldnt even be an issue.

[–] • 0 pt

Iirc, the reporting starts at 7k or 8k. They changed it years back from 10k.

[–] [deleted] • 1 pt

Called the bank today and they said 10k was the threshold, and that id need to bring ID, and have an account with them.

[–] • 0 pt

I definitely remember them lowering it some years back. Another comment says a couple thousand. Whatever the number, 100% sure it's not 10k.

I guess always possible they reverted the change. But seems unlikely.

[–] • 0 pt

SAR at 2k CTR at 10k, but that's where the 7-8k comes in.. at bank discretion somewhat.. especially if you do 6k two days in a row. They'll suspect structuring.

[–] • 1 pt

2k

[–] • 0 pt

Ty

[–] • 1 pt

And 600 If it's PayPal Venmo zelle cashapp or anything similar. That started this year.