depositing cash in bank

[revenger 473]

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

[Bomber 1,092]

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.

[JackDaWack 2,895]

It's not a "red flag". It's just reported. When you file your taxes you just report the loss and move on. 

[1LtCAP 4,264]

why not just put it in your safe?

[JohnnyB 4,325]

Just now, 1LtCAP said:

why not just put it in your safe?

Totally agree!  Always good to have cash on hand!

[Krdshrk 3,877]

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

[gleninjersey 2,141]

Cash is worthless.  Buy brass, lead and bourbon.

[15636215 454]

I had to give wells my DL for 200 cash. That is a new issue.

[Oakridgefirearms 224]

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.

[Displaced Texan 11,750]

Switch to a credit union. 
 

Navy Federal doesn’t do any of that bullshit to me 

[15636215 454]

mAKES ME LAUGH. bEEN DEALING WITH SAME BACK FOR 44 YEARS. nEED dl TO DEPOSIT CASH?? wHAT ABOUT THE ILLEGALS THAT ONLY DEAL CASH??

[Bomber 1,092]

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.

[1LtCAP 4,264]

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.

[Bomber 1,092]

9 hours ago, 15636215 said:

 wHAT ABOUT THE ILLEGALS THAT ONLY DEAL CASH??

Protected class. 

[GRIZ 3,369]

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.

[GRIZ 3,369]

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.

[JackDaWack 2,895]

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. 

[GRIZ 3,369]

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.

[1LtCAP 4,264]

so far, i still use deposit slips for republic.....but it's a business account.

[planenut 60]

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.

[Krdshrk 3,877]

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.

 

[JackDaWack 2,895]

35 minutes ago, Krdshrk said:

I still use slips at BofA.

 

Not for much longer according to the teller. 

[1LtCAP 4,264]

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

[Old Glock guy 1,127]

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.  

[Bomber 1,092]

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