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-   -   Can I do this at the Bank w/o problems? Deposit $9,500 cash.... (https://thetfp.com/tfp/tilted-life/57805-can-i-do-bank-w-o-problems-deposit-9-500-cash.html)

mattgical 06-03-2004 01:30 PM

Can I do this at the Bank w/o problems? Deposit $9,500 cash....
 
i came upon some money and want to deposit it without any hassles.

i want to deposit $9,500 CASH. Will the bank get suspicious?

is the $10,000 and above rule still apply?

NoSoup 06-03-2004 02:11 PM

Unfortunately, matters such as these are illegal to discuss. :(

mattgical 06-03-2004 03:07 PM

hehe.

thanks, its nothing i did illegally.

using the money to pay off some loans.

User Name 06-03-2004 06:37 PM

Quote:

Originally posted by NoSoup
Unfortunately, matters such as these are illegal to discuss. :(
Matters such as what? Depositing money at a bank? Then I suppose my grandfather is a criminal.

subz 06-03-2004 06:40 PM

I don't see how it would be illegal to discuss either.

No, there wouldn't be any problem for you to deposit any amount of cash to the bank. However (because of the Patroit Act), it is now $3000 on which you would have a report filed. Not that it's a bad thing, just lets the government know you made a large deposit.

shakran 06-03-2004 06:41 PM

yeah, count me in the ranks of criminals too. Just deposited a paycheck at the bank. Should I be watching over my shoulder for the FBI?

powerclown 06-03-2004 10:20 PM

Quote:

i came upon some money and want to deposit it without any hassles.

i want to deposit $9,500 CASH. Will the bank get suspicious?
None at all, if its legit.

More so in a small city vs. a big city.

NoSoup 06-03-2004 10:37 PM

Quote:

Originally posted by User Name
Matters such as what? Depositing money at a bank? Then I suppose my grandfather is a criminal.
Actually, it is illegal to discuss IRS reporting documents (CTRs, SARs, ect) as well as the amounts of cash that warrent one to be filled out. They are supposed to be known by bank personnel only :D

shakran 06-04-2004 04:28 AM

I don't think you're correct about that NoSoup. After all, we do have the first amendment that guarantees our right to free speech. We can discuss anything we want. Even top secret stuff - if someone is stupid enough to leak it to the public, the public doesn't get in trouble for talking about it.

NoSoup 06-04-2004 06:18 AM

Ah, I did a little research, and I stand corrected.

It is illegal for me to discuss matters such as these, as I was bank personnel at one time and signed many things regarding the Bank Secrecy Act. My apologies everyone.

06-04-2004 02:31 PM

I can't stand banks. They started asking questions about where I was working, how long ect. After I had switched jobs. They even asked casually if I could give them my social insurance number. I think I will get a safe and just have my money cashed and kept in their.

ibis 06-05-2004 11:57 AM

If you have nothing to hide, simply deposit it.

phyzix525 06-08-2004 07:15 PM

I think the big question is have you made that money and paid taxes on it. otherwise why would you be nervous?

Journeyman 06-10-2004 06:43 PM

Quote:

Originally posted by NotMinus
I can't stand banks. They started asking questions about where I was working, how long ect. After I had switched jobs. They even asked casually if I could give them my social insurance number. I think I will get a safe and just have my money cashed and kept in their.

Get a fireproof safe. If the house goes up in flames, you don't have to debate with yourself as to whether you should shit or go blind when you're fumbling with sweaty fingertips against a combo that you suddenly forget the last number to because there's flames dancing on your shirt. Just tell the firemen to grab it out of there when it's safe to do so.

mrbroker00 06-19-2004 09:40 PM

social insurance...?? ssn? I work at bank in consumer lending and just to let you know it's usually standard practice to ask ssn info. Banks get a bad rap, people forget they're businesses they gotta eat too!

Blackthorn 07-04-2004 01:12 PM

Deposit the cash. No one will give a rat's behind about it.

fernweh 07-04-2004 02:16 PM

You could just buy a safe deposit box at the bank, and not care what they think about it. Or what Journeyman said.

Chingal0 07-08-2004 08:49 PM

I'm pretty sure that if it is under 10k, they don't have to report it. Regardless, I saw it on the Sopranos, so it must be true.

Key 07-08-2004 11:21 PM

why not just deposit it at the atm. haha, might have to use a few different envelopes.

iamnormal 07-08-2004 11:30 PM

Don't forget the tax man is going to want a cut of that.

Jubal 07-25-2004 06:08 AM

Forget illegal; worry about suspicious. Obviously a $9,500 cash deposit smells like drug money. If your account has $80k and you always make these deposits, no big deal. If it has $500 and your weekly paycheck is $400 then don't put it in all at once. Break it up into small pieces and deposit it over time, convert to cashiers checks, or pay on your debts using a Western Union or other service that accepts cash.

Tax man cares the most, then probably DEA, and Homeland Security. If your state participates in the Matrix program, you're probably at a higher risk than in other states. Out of state bank accounts are perfectly legal.

Merlocke 08-06-2004 08:04 PM

Quote:

Originally posted by Jubal
Forget illegal; worry about suspicious. Obviously a $9,500 cash deposit smells like drug money. If your account has $80k and you always make these deposits, no big deal. If it has $500 and your weekly paycheck is $400 then don't put it in all at once. Break it up into small pieces and deposit it over time, convert to cashiers checks, or pay on your debts using a Western Union or other service that accepts cash.

Tax man cares the most, then probably DEA, and Homeland Security. If your state participates in the Matrix program, you're probably at a higher risk than in other states. Out of state bank accounts are perfectly legal.

I completely agree - if you're worried break it up and deposit it in smaller pieces.

Warf Rat 08-07-2004 03:26 PM

Quote:

Originally posted by NoSoup
Ah, I did a little research, and I stand corrected.

It is illegal for me to discuss matters such as these, as I was bank personnel at one time and signed many things regarding the Bank Secrecy Act. My apologies everyone.

NoSoup is correct, he can't discuss it. As to other posts, they make good points, but, they are not quoting the letter of the law. All deposits to bank or brokerage firms over the amount of $10,000.00 must be reported. However, consistent depostits of just under the $10,000.00 limit also require notification.This make's perfect sence, since you could make deposts every day at just under the legal limit. It becomes the responsability of the banker or broker to see a pattern.
So, you have nothing to feer, but fear itself.

macmanmike6100 08-11-2004 01:07 AM

Quote:

Originally posted by Jubal
Tax man cares the most, then probably DEA, and Homeland Security. If your state participates in the Matrix program, you're probably at a higher risk than in other states. Out of state bank accounts are perfectly legal.
This is off-topic but what is the Matrix program? What states are involved in it?


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