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Old 06-03-2004, 01:30 PM   #1 (permalink)
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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?
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Old 06-03-2004, 02:11 PM   #2 (permalink)
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Unfortunately, matters such as these are illegal to discuss.
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Old 06-03-2004, 03:07 PM   #3 (permalink)
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hehe.

thanks, its nothing i did illegally.

using the money to pay off some loans.
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Old 06-03-2004, 06:37 PM   #4 (permalink)
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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.
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Old 06-03-2004, 06:40 PM   #5 (permalink)
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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.
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Old 06-03-2004, 06:41 PM   #6 (permalink)
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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?
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Old 06-03-2004, 10:20 PM   #7 (permalink)
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Location: Detroit, MI
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.
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Old 06-03-2004, 10:37 PM   #8 (permalink)
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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
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Last edited by NoSoup; 06-03-2004 at 10:48 PM..
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Old 06-04-2004, 04:28 AM   #9 (permalink)
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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.
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Old 06-04-2004, 06:18 AM   #10 (permalink)
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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.
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Old 06-04-2004, 02:31 PM   #11 (permalink)
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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.
 
Old 06-05-2004, 11:57 AM   #12 (permalink)
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If you have nothing to hide, simply deposit it.
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Old 06-08-2004, 07:15 PM   #13 (permalink)
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I think the big question is have you made that money and paid taxes on it. otherwise why would you be nervous?
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Old 06-10-2004, 06:43 PM   #14 (permalink)
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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.
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Old 06-19-2004, 09:40 PM   #15 (permalink)
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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!
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Old 07-04-2004, 01:12 PM   #16 (permalink)
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Deposit the cash. No one will give a rat's behind about it.
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Old 07-04-2004, 02:16 PM   #17 (permalink)
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You could just buy a safe deposit box at the bank, and not care what they think about it. Or what Journeyman said.
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Old 07-08-2004, 08:49 PM   #18 (permalink)
Something like that..
 
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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.
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Old 07-08-2004, 11:21 PM   #19 (permalink)
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why not just deposit it at the atm. haha, might have to use a few different envelopes.
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Old 07-08-2004, 11:30 PM   #20 (permalink)
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Don't forget the tax man is going to want a cut of that.
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Old 07-25-2004, 06:08 AM   #21 (permalink)
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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.
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Old 08-06-2004, 08:04 PM   #22 (permalink)
 
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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.
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Old 08-07-2004, 03:26 PM   #23 (permalink)
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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.
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Old 08-11-2004, 01:07 AM   #24 (permalink)
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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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