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Joined: Apr 2010
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Campfire Ranger
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Campfire Ranger
Joined: Apr 2010
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It's completely plausible to me that it was a result of the War on Drugs, and since I was fed the Patriot Act line by a bank teller, I really didn't know. I don't consider them the most informed resource on such matters. I was just hoping you might know the facts and could educate me on the matter. I didn't mean to imply that you made any claim one way or another. Just curious was all. 
"Our Constitution was made only for a moral and religious people. It is wholly inadequate to the government of any other." - John Adams
Turdlike, by default.
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Joined: Jan 2012
Posts: 67,180 Likes: 38
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2012
Posts: 67,180 Likes: 38 |
get a speeding ticket on I-40 in Tn, them Tn local LEOs running the innastates will take that gangster wad from you and you might be months getting it back, or you might not get any of it back...especially if you have out of state tags just fyi and you handful of [bleep] that have me on ignore, I hope they take your [bleep] Ha!  here's a link http://www.newschannel5.com/story/14643085/police-profiting-off-drug-trade
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Joined: Jan 2002
Posts: 12,868 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2002
Posts: 12,868 Likes: 5 |
The 10 G requirement is came from the war on drugs. Never did much to catch drug lords, because they just hired a flunky to drive around town making $6000 deposits.
I've had it with big banks. I fired Bank of America last year. Going to fire Wells Fargo this month.
Had to cover a business check a couple of months ago after a customer bounced a check. Walked into my credit union, wrote a check for $11,000 to cash, they counted out the money and asked if they might do anything else for me.
Screw the banks. Every last F'ing one of them. Credit unions are a pain in the butt for things like international wires, but that's a small price compared to the daily idiocy at the local bank branch.
Sic Semper Tyrannis
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Joined: Jan 2001
Posts: 9,099
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2001
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Thank the Patriot act, Department of Homeland Security, and big Federal government sticking their noses into our personal privacy for this bull. It took three weeks for me to get $30,000 in cash out of my bank account recently and they pressed me hard to take a cashier's check instead of cash.
The last time I tried to open an account they insisted on finger printing me.
I've been told many times that a deposit of $10,000 or more will be reported to the IRS.
It should be illegal for you to have cash money in your possession? And the cops can confiscate it with no warrant?
What frickin' Country is this?
"The only thing necessary for the triumph of evil is for good men to do nothing."
Edmund Burke 1795
"Give me liberty or give me death"
Patrick Henry 1775
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Joined: Nov 2002
Posts: 33,743 Likes: 5
Campfire 'Bwana
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Campfire 'Bwana
Joined: Nov 2002
Posts: 33,743 Likes: 5 |
I was more than impressed when I moved down here. I deposited a good chunk on the move in when I opened my account then went back a few weeks later to withdraw $25k and walked out with a certified check in 10 minutes. No drama.
Conduct is the best proof of character.
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Joined: Jan 2009
Posts: 10,102
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2009
Posts: 10,102 |
Could it be part of the problem is that Chase is a large, "you're just a number" bank?? +1, All my banking is done w/local bank that has less than 20 locations. Quicker & better CS IMO.
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Joined: Nov 2005
Posts: 54,284
Campfire Kahuna
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Campfire Kahuna
Joined: Nov 2005
Posts: 54,284 |
It's completely plausible to me that it was a result of the War on Drugs, and since I was fed the Patriot Act line by a bank teller, I really didn't know. I don't consider them the most informed resource on such matters. I was just hoping you might know the facts and could educate me on the matter. I didn't mean to imply that you made any claim one way or another. Just curious was all. I'm not taking offense, just clarifying what I said and what I know. I'm not an expert, I'm just a disgruntled citizen and customer of several banks. School of hard knocks deal. No offense to Tellers, but they typically make minimum or a bit more if they've been there awhile. I don't look on them as the last word on anything and I watch their hands and then recount the money if the withdrawl amounts to anything. I'm also privy to a bit of behind-the-scenes drama due to a local (I guess you'd call her an) internal auditor. You wouldn't believe how much embezzlement there is that is never reported to the law. Typically, the employees are dismissed without any recognition other than them being told to keep quiet or go to jail. I'd watch my parents' accounts or tell them to watch their grandparents' were I you.
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Joined: Jan 2001
Posts: 59,170 Likes: 2
Campfire Kahuna
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Campfire Kahuna
Joined: Jan 2001
Posts: 59,170 Likes: 2 |
Last week I needed to get 10k out of Chase Bank, they look at you like you're crazy (debatable) All sorts of delays, then about 25 minutes later I get it.  It's never a problem or delay when I deposit a large sum...rant off Just give me my money NOW DAMNIT! I hate banks. Probably because unless you are rounding up, they reported you. Anytime you take $10k or more out of the bank, the report you to the Feds. Another result of the War on Drugs. It's not illegal and I have no idea what the Feds do with the info, but that's how it is. The bankers won't even talk to you about it. If you do other certain things I'm sure mandatory reporting is done as well. Stuff like a lot of big, but not $10k, withdrawls in a certain time period. Again, who knows as the bank employees supposedly can get in trouble for just telling people. Also they are supposed to report you anytime they have suspicions. I despise my bank and have told them how it is many times for stuff unrelated to this. Just imagine the potential for reporting somebody like me whom they don't like. So even keeping the withdrawls somewhat under $10k is not assurance you won't be reported. It's better than just withdrawing the 10 grand and insuring that you will be though. Huh! I'm not doubting your knowledge on this, as I genuinely do not know, but it was my understanding that the $10K benchmark was a result of the Patriot Act? Nope.. I had to deal with the same thing even in the mid-'80s. I had to fill out an IRS form if anyone bought a car with 10K or more in cash.
Ex- USN (SS) '66-'69
Pro-Constitution.
LET'S GO BRANDON!!!
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Joined: Sep 2007
Posts: 13,268
Campfire Outfitter
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Campfire Outfitter
Joined: Sep 2007
Posts: 13,268 |
It's less than $10k now, something like $7500. Most banks if you want more than $10k you have to notify them ahead of time. Our small bank carries large amounts of cash tho and have never had a problem.
Otto is my co-pilot.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Last time I tried my bank limited me to $2k and I needed more to cover a foreign hunt. But the teller told me that was per branch so I ended up driving around town. Ten grand is a big wade of cash. 10k ain't squat. Screw banks. All of them.
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Jun 2002
Posts: 131,773 Likes: 21
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,773 Likes: 21 |
Last week I needed to get 10k out of Chase Bank, they look at you like you're crazy (debatable) All sorts of delays, then about 25 minutes later I get it. It's never a problem or delay when I deposit a large sum...rant off Just give me my money NOW DAMNIT! I hate banks. Come now. You perfectly know the answer to this. The banking establishment, and therefore the government, too (as they are largely merged nowadays, and can be jointly identified under the term "The State"), has a good deal of interest in moving us towards a cashless society. When cash is commonly used, folks can maintain a certain degree of privacy from the state regarding their daily transactions, and the state doesn't like privacy. It's suspicious of it, since it considers you to be its property, and it wants to be able to track everything you do regarding money, since they consider you to be only a temporary holder of it, it ( the state) being the actual owners of it and you. It doesn't trust you with its money. It wants to keep track of it at all times, to make sure it doesn't ultimately escape their grasp. So it wants to make you feel like a criminal suspect whenever you wish to possess money in the form of cash, since it plans to soon make that impossible, and it doesn't want you being dispositionally inclined to buck its progress towards this goal.
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Joined: Nov 2005
Posts: 54,284
Campfire Kahuna
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Campfire Kahuna
Joined: Nov 2005
Posts: 54,284 |
Last week I needed to get 10k out of Chase Bank, they look at you like you're crazy (debatable) All sorts of delays, then about 25 minutes later I get it. It's never a problem or delay when I deposit a large sum...rant off Just give me my money NOW DAMNIT! I hate banks. Come now. You perfectly know the answer to this. The banking establishment (and therefore the government, too, as they are largely merged nowadays, and can be jointly identified under the term "The State") has a good deal of interest in moving us towards a cashless society. When cash is commonly used, folks can maintain a certain degree of privacy from the state regarding their daily transactions, and the state doesn't like privacy. It's suspicious of it, since it considers you to be its property, and it wants to be able to track everything you do regarding money, since they consider you to be only a temporary holder of your money, it ( the state) being the actual owners of it and you. It doesn't trust you with its money. It wants to keep track of it at all times, to make sure it doesn't ultimately escape their grasp. So it wants to make you feel like a criminal suspect whenever you wish to possess money in the form of cash, since it plans to soon make that impossible, and they don't want you bucking their progress towards this goal. Yeah, that about sums it up.
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Joined: Jun 2002
Posts: 131,773 Likes: 21
Campfire Sage
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Campfire Sage
Joined: Jun 2002
Posts: 131,773 Likes: 21 |
Who gives a chit why he wanted to, it's his business. It also should be against the law and the Feds can pound sand. They can figure out other ways to catch drug dealers than harassing honest citizens who just want a secure place to keep their money. [bleep] the big banks who cozy right up and collude with the government on this. This.
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Joined: Nov 2008
Posts: 3,465
Campfire Tracker
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Campfire Tracker
Joined: Nov 2008
Posts: 3,465 |
Last week I needed to get 10k out of Chase Bank, they look at you like you're crazy (debatable) All sorts of delays, then about 25 minutes later I get it. It's never a problem or delay when I deposit a large sum...rant off Just give me my money NOW DAMNIT! I hate banks. Probably because unless you are rounding up, they reported you. Anytime you take $10k or more out of the bank, the report you to the Feds. Another result of the War on Drugs. It's not illegal and I have no idea what the Feds do with the info, but that's how it is. The bankers won't even talk to you about it. If you do other certain things I'm sure mandatory reporting is done as well. Stuff like a lot of big, but not $10k, withdrawls in a certain time period. Again, who knows as the bank employees supposedly can get in trouble for just telling people. Also they are supposed to report you anytime they have suspicions. I despise my bank and have told them how it is many times for stuff unrelated to this. Just imagine the potential for reporting somebody like me whom they don't like. So even keeping the withdrawls somewhat under $10k is not assurance you won't be reported. It's better than just withdrawing the 10 grand and insuring that you will be though. But even leaving that out of it, what you say is absolutely true. The [bleep] have all sorts of rules like not giving you over a thousand at the drive up window after the rest of the bank is closed. Money not available yet after you just made a deposit. Etc. They sukk and swallow. A few years back I was gonna open another account and I looked into it. I was gtg with all the info they'd said I needed and the money ready, etc. I go into the bank after having talked with the Vice President and some [bleep] teller informs me that I need my Social Security Card. [bleep], I didn't even know where it was as I got an old original cardboard one that isn't laminated. I got pretty hostile because her boss told me I didn't need that. The President was there and he backed her up. I checked around at other banks and they were lying or stupid. My vote is on lying. They agreed to let me start my account without giving them a copy of my card. I told them to stick their account up their ass because them lying to me wasn't a good way to begin a business relationship. MOFOS! I bet they were crushed. There are specific guidelines. http://en.wikipedia.org/wiki/Bank_Secrecy_ActCredit Unions (them sorry no tax paying SOB's) also have to comply. http://www.ncua.gov/legal/bsa/Pages/default.aspx
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Joined: Jan 2002
Posts: 12,868 Likes: 5
Campfire Outfitter
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Campfire Outfitter
Joined: Jan 2002
Posts: 12,868 Likes: 5 |
Last week I needed to get 10k out of Chase Bank, they look at you like you're crazy (debatable) All sorts of delays, then about 25 minutes later I get it. It's never a problem or delay when I deposit a large sum...rant off Just give me my money NOW DAMNIT! I hate banks. Come now. You perfectly know the answer to this. The banking establishment, and therefore the government, too (as they are largely merged nowadays, and can be jointly identified under the term "The State"), has a good deal of interest in moving us towards a cashless society. When cash is commonly used, folks can maintain a certain degree of privacy from the state regarding their daily transactions, and the state doesn't like privacy. It's suspicious of it, since it considers you to be its property, and it wants to be able to track everything you do regarding money, since they consider you to be only a temporary holder of it, it ( the state) being the actual owners of it and you. It doesn't trust you with its money. It wants to keep track of it at all times, to make sure it doesn't ultimately escape their grasp. So it wants to make you feel like a criminal suspect whenever you wish to possess money in the form of cash, since it plans to soon make that impossible, and it doesn't want you being dispositionally inclined to buck its progress towards this goal. In this case the objectives of the banks and the almighty government align. The government wants to keep track of every transaction, and the banks get swipe fees every time we use a debit or credit card. The banks are falling all over themselves to discourage the use of cash, and the government is their biggest cheer leader. I think we should modify the old bumper sticker to : "piss off the government, pay cash".......
Sic Semper Tyrannis
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Joined: Dec 2007
Posts: 927
Campfire Regular
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Campfire Regular
Joined: Dec 2007
Posts: 927 |
CTR, Currency Transaction Report. Banks are required to complete it on transactions of $10k or more. Also, structuring transactions to avoid reporting get reported, $9900 amount as an example. It's been around since before 9/11/01. Not only the bank but the employee, personally, may face consequences for not reporting the transaction. There was/is a lower dollar amount threshold and some other report but that escapes me at the moment.
I was one of those "evil" bankers back in the 90s. I didn't make the rules I just had to play by them. Not sure of what's new or different.
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Joined: Feb 2011
Posts: 26,389 Likes: 6
Campfire Ranger
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Campfire Ranger
Joined: Feb 2011
Posts: 26,389 Likes: 6 |
It's only $3 grand if the bank considers it 'suspicious'...SAR report or some such bs.
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Joined: Nov 2003
Posts: 28,411
Campfire Ranger
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Campfire Ranger
Joined: Nov 2003
Posts: 28,411 |
Last week I needed to get 10k out of Chase Bank, they look at you like you're crazy (debatable) All sorts of delays, then about 25 minutes later I get it. It's never a problem or delay when I deposit a large sum...rant off Just give me my money NOW DAMNIT! I hate banks. Probably because unless you are rounding up, they reported you. Anytime you take $10k or more out of the bank, the report you to the Feds. Another result of the War on Drugs. It's not illegal and I have no idea what the Feds do with the info, but that's how it is. The bankers won't even talk to you about it. If you do other certain things I'm sure mandatory reporting is done as well. Stuff like a lot of big, but not $10k, withdrawls in a certain time period. Again, who knows as the bank employees supposedly can get in trouble for just telling people. Also they are supposed to report you anytime they have suspicions. I despise my bank and have told them how it is many times for stuff unrelated to this. Just imagine the potential for reporting somebody like me whom they don't like. So even keeping the withdrawls somewhat under $10k is not assurance you won't be reported. It's better than just withdrawing the 10 grand and insuring that you will be though. But even leaving that out of it, what you say is absolutely true. The [bleep] have all sorts of rules like not giving you over a thousand at the drive up window after the rest of the bank is closed. Money not available yet after you just made a deposit. Etc. They sukk and swallow. A few years back I was gonna open another account and I looked into it. I was gtg with all the info they'd said I needed and the money ready, etc. I go into the bank after having talked with the Vice President and some [bleep] teller informs me that I need my Social Security Card. [bleep], I didn't even know where it was as I got an old original cardboard one that isn't laminated. I got pretty hostile because her boss told me I didn't need that. The President was there and he backed her up. I checked around at other banks and they were lying or stupid. My vote is on lying. They agreed to let me start my account without giving them a copy of my card. I told them to stick their account up their ass because them lying to me wasn't a good way to begin a business relationship. MOFOS! I bet they were crushed. There are specific guidelines. http://en.wikipedia.org/wiki/Bank_Secrecy_ActCredit Unions (them sorry no tax paying SOB's) also have to comply. http://www.ncua.gov/legal/bsa/Pages/default.aspx Being "member owned", ya gotta love this part of the equation. You like taxes, do you?
The degree of my privacy is no business of yours.
What we've learned from history is that we haven't learned from it.
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Joined: Nov 2005
Posts: 54,284
Campfire Kahuna
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Campfire Kahuna
Joined: Nov 2005
Posts: 54,284 |
Last week I needed to get 10k out of Chase Bank, they look at you like you're crazy (debatable) All sorts of delays, then about 25 minutes later I get it. It's never a problem or delay when I deposit a large sum...rant off Just give me my money NOW DAMNIT! I hate banks. Probably because unless you are rounding up, they reported you. Anytime you take $10k or more out of the bank, the report you to the Feds. Another result of the War on Drugs. It's not illegal and I have no idea what the Feds do with the info, but that's how it is. The bankers won't even talk to you about it. If you do other certain things I'm sure mandatory reporting is done as well. Stuff like a lot of big, but not $10k, withdrawls in a certain time period. Again, who knows as the bank employees supposedly can get in trouble for just telling people. Also they are supposed to report you anytime they have suspicions. I despise my bank and have told them how it is many times for stuff unrelated to this. Just imagine the potential for reporting somebody like me whom they don't like. So even keeping the withdrawls somewhat under $10k is not assurance you won't be reported. It's better than just withdrawing the 10 grand and insuring that you will be though. But even leaving that out of it, what you say is absolutely true. The [bleep] have all sorts of rules like not giving you over a thousand at the drive up window after the rest of the bank is closed. Money not available yet after you just made a deposit. Etc. They sukk and swallow. A few years back I was gonna open another account and I looked into it. I was gtg with all the info they'd said I needed and the money ready, etc. I go into the bank after having talked with the Vice President and some [bleep] teller informs me that I need my Social Security Card. [bleep], I didn't even know where it was as I got an old original cardboard one that isn't laminated. I got pretty hostile because her boss told me I didn't need that. The President was there and he backed her up. I checked around at other banks and they were lying or stupid. My vote is on lying. They agreed to let me start my account without giving them a copy of my card. I told them to stick their account up their ass because them lying to me wasn't a good way to begin a business relationship. MOFOS! I bet they were crushed. There are specific guidelines. http://en.wikipedia.org/wiki/Bank_Secrecy_ActCredit Unions (them sorry no tax paying SOB's) also have to comply. http://www.ncua.gov/legal/bsa/Pages/default.aspx No doubt far less so than the first time you showed a chick your dick.
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Joined: Nov 2005
Posts: 54,284
Campfire Kahuna
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Campfire Kahuna
Joined: Nov 2005
Posts: 54,284 |
CTR, Currency Transaction Report. Banks are required to complete it on transactions of $10k or more. Also, structuring transactions to avoid reporting get reported, $9900 amount as an example. It's been around since before 9/11/01. Not only the bank but the employee, personally, may face consequences for not reporting the transaction. There was/is a lower dollar amount threshold and some other report but that escapes me at the moment.
I was one of those "evil" bankers back in the 90s. I didn't make the rules I just had to play by them. Not sure of what's new or different. Neither withdrawing ten grand nor structuring withdrawls to avoid scrutiny is illegal although the banks act like it is. As to the best of my knowledge if you decide to withdraw any amount of money and do so and subsequently some Fed decides to question you, you aren't obligated to answer any questions.
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