Anyone use cash anymore on large purchases? We recently had to buy a new heat pump hand got a 3% discount. Use to get 10%+ off of purchases but now the banks are limiting cash deposits and withdrawals without filling out extra paperwork. The government seems to keep pecking away at our freedom one way or another.
Anyone use cash anymore on large purchases? We recently had to buy a new heat pump hand got a 3% discount. Use to get 10%+ off of purchases but now the banks are limiting cash deposits and withdrawals without filling out extra paperwork. The government seems to keep pecking away at our freedom one way or another.
Transactions involving $10k cash or more have mandatory reporting requirements.
For decades now. It ain't recent.
Correct... I think it started circa '86-'87.. I had to fill out a report or two when a customer came in and bought a car via cash if it was over $10K... ...
This is a good video on CBDC (Central Bank Digital Currencies).
Absolutely oppose mandatory Digital Currencies. They are genuinely in the works.
https://www.bitchute.com/video/_gC0XSpyFZo/
Ive done several cash transactions for over 10K in the last few years and my bank hasn't asked me to do anything. I guess they are doing it, but I had to do nothing.
Transactions were seemless.
Just put $5k down on a truck in hundreds.
Acted liked they've never seen cash.
I guess they are doing it, but I had to do nothing.
Your bank is filling out IRS Form 8300 for you. That has been a requirement for all cash transactions $10k or above longer than I’ve been alive.
That is the same one non-bank businesses use. We are supposed to report any single cash transaction or related ones (ie someone pays an invoice in 2 installments of $5k cash) over $10k. We do ours without the customer even knowing.
I got half my roof replaced, paid cash. Under 10k though.
I guess they are doing it, but I had to do nothing.
Your bank is filling out IRS Form 8300 for you. That has been a requirement for all cash transactions $10k or above longer than I’ve been alive.
That is the same one non-bank businesses use. We are supposed to report any single cash transaction or related ones (ie someone pays an invoice in 2 installments of $5k cash) over $10k. We do ours without the customer even knowing.
Never realized you were still a pup! Mid to late 80's, the reporting was started. If my memory serves me well! Prior to that we were free to spend without government over reach!
The last 2 used Toyotas I bought, paid 14,000 ish cash for each, happy sellers, happy buyers.
Ok, cash works now, but in a hypothetical, let's say 20 yrs down the road, cash becomes illegal (yes, it was done with gold by the stroke of a pen in 1933). Monetary exchange becomes, by law, digital. What do you guys think will be the most portable, convenient, stable form of black market currency? Let's face it, trying to trade a gold coin for a sack of spuds is problematic to say the least. How do get your change? Silver is only slightly better. Cigarettes were popular in post war Europe, but who the hell with a brain smokes nowdays? Booze, coffee(shelf life problems), .22 shells? What would be univerally accepted?
I have made several large deposits and withdrawals and never had a problem .
I sold a truck last month and a guy gave me all onehundred dollar bills 10K.
I did deposit a large check and they said the funds wouldnt be available for several days .
This is probably because I have used the same bank for 30 years .
you might not see it, but cash in or out of the bank in amounts over $10K are reported
I had 3000 reported. If I deposit 3000 + cash it is reported.
I had 3000 reported. If I deposit 3000 + cash it is reported.
I'd switch banks.
That is not a federal requirement.
Your bank doing that is like your little brother tattling on you when you haven't done anything. No way I would trust a bank like that with my $$.
Dont get stopped by the cops on your way to spend it. They might confiscate it as 'drug money'.
Yep there’s a war against cash. It was purportedly to stop drug dealers. You can see it’s worked like a charm 🤦🏼♂️
I had 3000 reported. If I deposit 3000 + cash it is reported.
How was it reported and to who?
If you deposited $3k a day your bank would fill out IRS form 8300 on the fourth day, since you exceeded $10k in what look like “related” deposits.
They’d probably it also fill out a Suspicious Activity Report and send it to the Treasury.
brass, bullets and powder will be like gold in the future...........
I believe it was intended for drug dealers.
Back when it started, few normal cars would cost over $10k.
Today, that's nothing. Almost.
Now, it's money trail. E$ is prevalent, and they love it. The $10k thing
gives them a tracker on those who don't follow the program.
And don't think that $9990 Is under the radar.
Those are looked at as intentionally under the reporting
requirement. Do several of those, and you get more attention than if you
did several over.
You can be pretty certain that if you move thousands through a non business
account, with any frequency, you have attracted attention.
I often wonder if cashing paychecks without making any deposits is
something that gets looked at. I'm sure, if nothing else, the tellers notice.
why deposit cash anyway? Bank pays little to no interest on your money. If you want to use it to pay a bill just get a money order or cashier's check.
The Bible tells of a coming society where no one without a mark is allowed to buy or sell. We aren't told what the mark is but an invisible 'bank card' tattoo or implant would fit the description nicely. We already have the technology to make it work. Cash will be gone. It will be a very evil thing. You really won't want to take the mark as your butt will burn in hell if you do.
Gooberment using the war on drugs to keep tabs on the populace.
Correct... I think it started circa '86-'87.. I had to fill out a report or two when a customer came in and bought a car via cash if it was over $10K... ...
You fill out a report if you deposit over 10k all at once. I've paid over 10k cash for cars at my dealer and he'll just break it up and deposit it over a period of days. I've purchased vehicles for over 10k from other dealers and they did fill out a report. No big deal. I never heard anything from anybody about it.
It's a report just like if I buy 2 handguns in a month.
Don't mean crap really.
You have made the radar, might get looked at a little.
If you aren't up to anything. No worries.
But?
They have records of you doing cash business or buying guns.
And that does make me very nervous.
Local farmer sold a herd of cattle a number of years ago, and was paid in cash, something around $50,000. He deposited it in his bank, having to fill out the paperwork. Got a visit about a week later from the FBI, supposedly just to check on his story.
He now does not deposit large amounts of cash in the bank, and there is no telling how much cash he keeps at his house, or wherever he stashes it.
I was curious about that also. I heard but I've never had to fill out anything. Wrote a check for a new roof ($15k) and ran and got a cashier's check when I bought my 2015 ford fusion this spring. Paid cash for the house and realtor or bank never said a thing about it.
They obviously don't have to tell to they are gonna tattle tale on you.
Buying and selling livestock
Hopefully nobody reports dime bags.
Ive done several cash transactions for over 10K in the last few years and my bank hasn't asked me to do anything. I guess they are doing it, but I had to do nothing.
Transactions were seemless.
Same, same.
I buy real estate with cash and sell real estate for cash.
Deposits and withdrawals in the 6 figure range often.
The tellers will normally call their supervisor to stand by and they triple count the cash but other than that nothing special occurs while I am present.
I could careless what they may be required to do after I leave.
100k in hundred dollar bills isn't a very tall stack, tucks in my hoodie pocked easily.
I bought a Ford Explorer a few years ago, used, price 20K, I tried to put it on cc, no dice, ok I get them not wanting to pay the fees, so I hustle off to my bank & withdraw 20K in cash. Took it to them & you’d have thought I’d opened a bag of snakes. No dice on the cash, I about nixed the deal then & there. Back to the bank redeposit & get a 20K cashiers check. Bingo !
I’m old enough to recall when car dealers loved getting cash.
I bought a Ford Explorer a few years ago, used, price 20K, I tried to put it on cc, no dice, ok I get them not wanting to pay the fees, so I hustle off to my bank & withdraw 20K in cash. Took it to them & you’d have thought I’d opened a bag of snakes. No dice on the cash, I about nixed the deal then & there. Back to the bank redeposit & get a 20K cashiers check. Bingo !
I’m old enough to recall when car dealers loved getting cash.
Yellow kook-aid drinkers.
Now they hate cash.
The best money in New cars is finance.
An hours time, no overhead to speak of, in a process that
helps in the sale.
I bought a car this summer from a high volume lot that deals
in used cars over a couple years old.
The guy recommended we get our own loan.
He works with a bank, but recommends against it if possible.
Semi honest used car dealer?
?
Now they hate cash.
The best money in New cars is finance.
An hours time, no overhead to speak of, in a process that
helps in the sale.. . . .
Been that way for years
Financing, extended warranties, accessory add ons
That's where they make their money.
The last 2 dealers I worked for could have
cared less about the parts and service departments,
and whether or not they did their part.
The front end brings in a bigger chunk at one time
When I'd first started, there were dealership personnel
in every department that had been in the business for
many years. Not anymore. They all change hands about
every 6 years or so. Long enough to make their million
or two, then walk away
The last 2 used Toyotas I bought, paid 14,000 ish cash for each, happy sellers, happy buyers.
Ok, cash works now, but in a hypothetical, let's say 20 yrs down the road, cash becomes illegal (yes, it was done with gold by the stroke of a pen in 1933). Monetary exchange becomes, by law, digital. What do you guys think will be the most portable, convenient, stable form of black market currency? Let's face it, trying to trade a gold coin for a sack of spuds is problematic to say the least. How do get your change? Silver is only slightly better. Cigarettes were popular in post war Europe, but who the hell with a brain smokes nowdays? Booze, coffee(shelf life problems), .22 shells? What would be univerally accepted?
Hookers and blow?
Anyone use cash anymore on large purchases? We recently had to buy a new heat pump hand got a 3% discount. Use to get 10%+ off of purchases but now the banks are limiting cash deposits and withdrawals without filling out extra paperwork. The government seems to keep pecking away at our freedom one way or another.
Transactions involving $10k cash or more have mandatory reporting requirements.
For decades now. It ain't recent.
Is that the same timing as the ban on carrying more than 10k cash out of the country?
Technically you are supposed to report barter transactions on your taxes...
Anyone use cash anymore on large purchases? We recently had to buy a new heat pump hand got a 3% discount. Use to get 10%+ off of purchases but now the banks are limiting cash deposits and withdrawals without filling out extra paperwork. The government seems to keep pecking away at our freedom one way or another.
Transactions involving $10k cash or more have mandatory reporting requirements.
For decades now. It ain't recent.
Is that the same timing as the ban on carrying more than 10k cash out of the country?
Technically you are supposed to report barter transactions on your taxes...
There’s no ban on carrying cash across the border, just a reporting requirement. I used to sell across the border in cash, and it’s a bit tedious, but no big deal.
I prefer to do most of my purchases in cash. My digital trail is big enough, nobody needs to know how much I spend at the gun store or the liquor store.
I had 3000 reported. If I deposit 3000 + cash it is reported.
Banks are required to report anything over $10,000 but they can report anything they think is suspicious. I was selling silver at gunshows 10 years ago. I'd take the money to my credit union on Monday and deposit it and then had them send out wire transfers to the bullion dealers to order more.
The tellers started asking all kinds if questions and then finally told me they were going to report me because it looked suspicious. I told them it's pretty easy to figure out since they were sending the wiretranfers to silver.com for me. I haven't used that credit union much in the last 10 years.
I ran it all on my taxes and expensed the shows and travel and pretty much broke even. I got sick of gunshows pretty fast. Guys that haven't showered in a month arguing over 50 cents above spit for hours. Finally tell them ok I'll do spot and they each buy 1 ounce. That was my last show.
Bb