revenger 473 Posted September 2, 2023 so I sold my car and was paid cash, what is the limit on depositing cash in a bank before a red flag is sent up? I thought it used to be 10k but I thought the commies in power lowered it Quote Share this post Link to post Share on other sites
Bomber 1,092 Posted September 2, 2023 25 minutes ago, revenger said: so I sold my car and was paid cash, what is the limit on depositing cash in a bank before a red flag is sent up? I thought it used to be 10k but I thought the commies in power lowered it It still 10k when they must report it but banks can also report for lesser amounts. You should re-post this in the 1st amendment forum for more info. Quote Share this post Link to post Share on other sites
JackDaWack 2,895 Posted September 2, 2023 It's not a "red flag". It's just reported. When you file your taxes you just report the loss and move on. Quote Share this post Link to post Share on other sites
1LtCAP 4,264 Posted September 3, 2023 why not just put it in your safe? 2 Quote Share this post Link to post Share on other sites
JohnnyB 4,326 Posted September 3, 2023 Just now, 1LtCAP said: why not just put it in your safe? Totally agree! Always good to have cash on hand! Quote Share this post Link to post Share on other sites
Krdshrk 3,878 Posted September 3, 2023 9 hours ago, revenger said: so I sold my car and was paid cash, what is the limit on depositing cash in a bank before a red flag is sent up? I thought it used to be 10k but I thought the commies in power lowered it $5k Quote Share this post Link to post Share on other sites
gleninjersey 2,141 Posted September 3, 2023 Cash is worthless. Buy brass, lead and bourbon. 1 1 1 Quote Share this post Link to post Share on other sites
15636215 454 Posted September 3, 2023 I had to give wells my DL for 200 cash. That is a new issue. Quote Share this post Link to post Share on other sites
Oakridgefirearms 224 Posted September 3, 2023 TD just sent me a letter saying for "security reasons and to protect my account" they are going to require ID for all cash deposits. Not sure how someone depositing cash into one of my bank accounts would compromise my account security? It was at $8500 before. Quote Share this post Link to post Share on other sites
Displaced Texan 11,757 Posted September 3, 2023 Switch to a credit union. Navy Federal doesn’t do any of that bullshit to me 1 Quote Share this post Link to post Share on other sites
15636215 454 Posted September 3, 2023 mAKES ME LAUGH. bEEN DEALING WITH SAME BACK FOR 44 YEARS. nEED dl TO DEPOSIT CASH?? wHAT ABOUT THE ILLEGALS THAT ONLY DEAL CASH?? 1 Quote Share this post Link to post Share on other sites
Bomber 1,092 Posted September 4, 2023 14 hours ago, 15636215 said: I had to give wells my DL for 200 cash. That is a new issue. 11 hours ago, Oakridgefirearms said: TD just sent me a letter saying for "security reasons and to protect my account" they are going to require ID for all cash deposits. Find new banks ASAP. Quote Share this post Link to post Share on other sites
1LtCAP 4,264 Posted September 4, 2023 1 minute ago, Bomber said: Find new banks ASAP. i think all banks are doing it now. it's bs in my mind. you oughta try getting your cash out of them. 1 Quote Share this post Link to post Share on other sites
Bomber 1,092 Posted September 4, 2023 9 hours ago, 15636215 said: wHAT ABOUT THE ILLEGALS THAT ONLY DEAL CASH?? Protected class. Quote Share this post Link to post Share on other sites
GRIZ 3,369 Posted September 4, 2023 On 9/2/2023 at 3:02 PM, Bomber said: It still 10k when they must report it but banks can also report for lesser amounts. You should re-post this in the 1st amendment forum for more info. Correct. Law requires currency transaction reports over 10k. However, bank can report any amount as suspicious. This is how Hunter Biden got caught (but not convicted yet!!!). Whilst cash businesses are fewer now this is the reason for suspicious activity reports. Many gas stations offer a discount for cash. Many consumers take advantage of this. The owner of the station has 20k in cash to deposit. He's trying to conceal it as he doesn't want IRS knowing how much he's making. So he goes to the bank and deposits 6k in the morning, 6k in the afternoon, and 8k the next morning. This is called structuring to avoid the reporting requirements and is illegal. Has been for some time. Like over 30 years. Quote Share this post Link to post Share on other sites
GRIZ 3,369 Posted September 4, 2023 There are also casino reports. Casinos were (and still maybe) used to launder drug money. You get 10 accomplices. Give them each 5k to buy chips. They hang around for a few hours and half of them give the other half their 5k in chips. That half cashes in those chips so now 25k can be claimed as casino winnings. Oversimplified but you get the idea. 1 1 Quote Share this post Link to post Share on other sites
JackDaWack 2,895 Posted September 5, 2023 I've needed an ID to deposit cash for years at chase Bank. BoA informed me they won't even have deposit slips anymore, and will use ID and debit cards instead. Quote Share this post Link to post Share on other sites
GRIZ 3,369 Posted September 5, 2023 3 hours ago, JackDaWack said: I've needed an ID to deposit cash for years at chase Bank. BoA informed me they won't even have deposit slips anymore, and will use ID and debit cards instead. Santander is almost totally paperless. They do.give you a paper receipt for transactions. Quote Share this post Link to post Share on other sites
1LtCAP 4,264 Posted September 5, 2023 so far, i still use deposit slips for republic.....but it's a business account. Quote Share this post Link to post Share on other sites
planenut 60 Posted September 6, 2023 Provident Bank still uses paper slips if you go to use a teller in the bank. I usually get asked for ID when I'm withdrawing cash, but haven't had a chance to see what they do when you're depositing cash. Quote Share this post Link to post Share on other sites
Krdshrk 3,878 Posted September 6, 2023 11 hours ago, JackDaWack said: I've needed an ID to deposit cash for years at chase Bank. BoA informed me they won't even have deposit slips anymore, and will use ID and debit cards instead. I still use slips at BofA. Quote Share this post Link to post Share on other sites
JackDaWack 2,895 Posted September 6, 2023 35 minutes ago, Krdshrk said: I still use slips at BofA. Not for much longer according to the teller. Quote Share this post Link to post Share on other sites
1LtCAP 4,264 Posted September 6, 2023 they're trying like bastards to move us to digital. god family and guns channel has a panic piece telling how the fednow is going to eliminate cash. hopefully he's just tryingt o create panic, and not on point. i've caught a few other things of his that were off point 1 1 Quote Share this post Link to post Share on other sites
Old Glock guy 1,127 Posted September 7, 2023 On 9/6/2023 at 8:31 AM, 1LtCAP said: they're trying like bastards to move us to digital. god family and guns channel has a panic piece telling how the fednow is going to eliminate cash. hopefully he's just tryingt o create panic, and not on point. i've caught a few other things of his that were off point I like the GFG guy and watch most of his videos, but he is kind of out there. Quote Share this post Link to post Share on other sites
Bomber 1,092 Posted September 8, 2023 On 9/6/2023 at 8:31 AM, 1LtCAP said: they're trying like bastards to move us to digital. god family and guns channel has a panic piece telling how the fednow is going to eliminate cash. hopefully he's just tryingt o create panic. Martin Armstrong has been warning about CBDC's (Central Bank Digital Currencies). In addition to controlling all transactions and the ability turn off anyone who they see as a threat governments figure they will increase tax recipients by at least 20%. https://www.armstrongeconomics.com/?s=cbdc Quote Share this post Link to post Share on other sites