thisjune5th.com

[dalebert]

The > $10k was legally required so I suspect that is still the case for $3k. That's how they triggered an investigation of Rush Limbaugh and his prescription drug habit.

[error]

btw they charged me 10 dollars to cash it because I didnt have an account with them. We argued over the 10 bucks for about half an hour. I said the guy who wrote the check has an account at your bank and that should be good enough. I aslo said the bank should charge the 10 bucks against the guys account. I told them to just give me my money in full and it was absurd that they were going to charge even a dime. I finally gave in and gave the thieves 10 bucks. Anything I sell now I ask for cash on the barrell, no checks...no bullshit.

I'm not sure they can do that if it's their own check. You could have asked them if they were refusing to honor the check, and if they insisted on charging you, returned it to whoever as a bounced check.

[kola]

btw they charged me 10 dollars to cash it because I didnt have an account with them. We argued over the 10 bucks for about half an hour. I said the guy who wrote the check has an account at your bank and that should be good enough. I aslo said the bank should charge the 10 bucks against the guys account. I told them to just give me my money in full and it was absurd that they were going to charge even a dime. I finally gave in and gave the thieves 10 bucks. Anything I sell now I ask for cash on the barrell, no checks...no bullshit.

I'm not sure they can do that if it's their own check. You could have asked them if they were refusing to honor the check, and if they insisted on charging you, returned it to whoever as a bounced check.

I did mention that, error. I could have done that and charged him a bounced check fee. ($25) They did say i could return the check to the issuer and then i would have had to get the guy who purchased my bike down to the bank. Then then told me i would still have to fill out all their bullshit paperwork. They said the was "their policy". I was getting very loud and pissed off and the bank was quite crowded..it wasn't long when the security stepped in and then he called a back-up. It was kind of funny..when i left one of the security guys escorted me to to the door and I said to him.."what a bunch of bullshit". Ya know what he said? He said" its gonna get worse". He knows whats happening too.

anyway, lesson learned. I now sell for cash only.

Kola

[J’raxis 270145]

Reporting threshold is $3K in one transaction, or multiple transactions over a very short period of time.

And just to note, nothing is "actionable" really—this is just when they report to the Fedgov, who could then, at their discretion, launch an investigation. It's not like there's an automatic amount at which they freeze your assets or somesuch, although as Kola pointed out, it could be a pain in the ass to get the bank to comply with a withdrawal demand when you're over this threshold.

[J’raxis 270145]

here in CO, a withdrawl or deposit of 5k or more is reported by the bank to the feds. You may want to check for NH... and from what bank people tell me that "reporting" number will continue to drop.

If you have 5+ grand to tie up you could deposit and withdraw it every week

This would quickly show up on their radar as money laundering.

[kola]

yup.

I have 2 good friends(clients), one is bank prez and another head loan officer and several bank teller friends. So I hear it from both angles.

If someone writes you a check and you take it to their bank and cash it, it is recorded that you cashed it. 5 bucks or 500 bucks..its computer entered and stored for all to see.

Kola

[J’raxis 270145]

If someone writes you a check and you take it to their bank and cash it, it is recorded that you cashed it. 5 bucks ot 500 bucks..its computer entered and stored for all to see.

That's been true for a long time. I think Federal law requires them to retain those records for a decade after you close an account, too. But that amount isn't reported to the Fedgov unless it's over $3,000.

[Friday]

I'm in.  I don't know if my withdrawal(s) will trigger any federal tripwires, but I assume they're already aware of the very large check I mailed to the Northwest Territorial Mint not too long ago, so wtf.  Anyway, isn't the whole point to MAKE the Fed notice??   

[Friday]

<bump>  Cash out tomorrow.   

[Becky Thatcher]

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