AR15.Com Archives
 How much cash can you deposit at the bank without raising flags?
ComputerGuy  [Team Member]
3/4/2005 10:10:15 PM
How much cash can one deposit without rasing any red flags with the bank/IRS/feds?

How much in small bills can one exchange (for larger bills), without rasing any red flags with the bank/IRS/feds?

What if the above are done multiple times?
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VTHOKIESHOOTER  [Team Member]
3/4/2005 10:11:00 PM
Score some blow?

bOmStK  [Member]
3/4/2005 10:11:26 PM
KEEP YOUR CASH.............JUST SOME KIND ADVICE
j-fonz  [Team Member]
3/4/2005 10:11:45 PM
IIRC anything more than 10K gets flagged.
captainpooby  [Team Member]
3/4/2005 10:12:09 PM
I think a bank employee raises the flag but I bet if you show up early he/she might let you pull the rope.
PointlessSilly  [Member]
3/4/2005 10:12:42 PM
They probably profile the account, so if you put in several thounds a month, and that number changed suddenly, the computers that manage the banks day-to-day finances would flag it, and someone would look at it to see whats up..


not that I really know anything.
Sin_Bin  [Team Member]
3/4/2005 10:13:19 PM
I never thought about it before. Do you normally carry flags with you that cause reflexive raising at times?
zoe17  [Team Member]
3/4/2005 10:14:25 PM
10k is usual the flagging amount of cash. Keep the cash, never deposit it unless you have too.
ComputerGuy  [Team Member]
3/4/2005 10:14:35 PM

Originally Posted By Sin_Bin:
I never thought about it before. Do you normally carry flags with you that cause reflexive raising at times?



blackeye  [Member]
3/4/2005 10:15:48 PM

$ 10,000











bohr314  [Member]
3/4/2005 10:17:29 PM
Why are some of you suggesting keeping your cash instead of depositing it? Is there something I should now?
repub18  [Team Member]
3/4/2005 10:17:53 PM
Under $10,000
Rudison  [Team Member]
3/4/2005 10:18:25 PM

A buddy of mine is VP security for a mid size bank.
Any transaction of $10K or more is manditorially reported.
$5K 2 days apart is not going to bring the black Helo knock-knock to your door.
ComputerGuy  [Team Member]
3/4/2005 10:19:10 PM
I understand anything over 10k is flagged. But if I went into the bank and put 2,000 cash in each week, would someone get suspicious?

If I went to a bank in which I do not hold an account, would they exchange 5,000 small bills for larger ones? Would they require any identification?
repub18  [Team Member]
3/4/2005 10:20:51 PM

Originally Posted By ComputerGuy:
I understand anything over 10k is flagged. But if I went into the bank and put 2,000 cash in each week, would someone get suspicious?

If I went to a bank in which I do not hold an account, would they exchange 5,000 small bills for larger ones? Would they require any identification?



1.Why would they? Its none of their business

2. They might have a problem providing a service free of charge
Minuteman419  [Team Member]
3/4/2005 10:20:51 PM
$10k

Danny
IchWarrior  [Member]
3/4/2005 10:21:20 PM
If its legal, why should any of it matter?
Winston_Wolf  [Team Member]
3/4/2005 10:22:25 PM
… I was in San Diego a couple weeks ago for business. One evening at the hotel bar, I met this guy from Oregon that audits banks for a living. He does it as a third party to uncover potential non-compliance prior to a government entity audit, which can mean serious headaches if things were awry.

… Now get this, he didn’t audit the books or “accounting numbers” he audited whether or not the bank was keeping good records on depositing trends (or flags as you noted) that may indicate drug-money laundering or worse yet (according to him) possible terrorist funding activity. He said since 911, it has become one of the biggest kept secrets pertaining to banking and lending institutions. Uncle Sugar is very serious these days on tracking money traffic in the country.

… Sobering to say the least.
rainman  [Member]
3/4/2005 10:29:27 PM
Take it to a casino. Play the 5 dollar black jack table for a few minutes then cash in for big bills.
LoginName  [Team Member]
3/4/2005 10:29:50 PM
Two words... "Cayman Islands". (or has that source been compromised now?).
piccolo  [Team Member]
3/4/2005 10:30:23 PM

Originally Posted By IchWarrior:
If its legal, why should any of it matter?





Simple. The less contact you have with the authorities, the better.

Being investigated, audited, etc can be a MAJOR PITA even if you're guilty of nothing.

Remember, the services you need to defend yourself (CPAs, Lawyers, etc) from a gubmint audit/investigation is going to come out of your pocket. You will NOT be reimbursed.

A sad part of life is avoiding even the APPEARANCE of evil.
txgp17  [Team Member]
3/4/2005 10:30:48 PM
$9999.99

Or, if you ask that teller the same question they will fill out a form and submit to the FBI.
jkstexas2001  [Member]
3/4/2005 10:32:48 PM

Originally Posted By blackeye:
$ 10,000




Nope, $9,999.00
M4-TUNA  [Team Member]
3/4/2005 10:34:32 PM

Originally Posted By jkstexas2001:

Originally Posted By blackeye:
$ 10,000




Nope, $9,999.00

NOPE $9,999.99
USMC88-93  [Member]
3/4/2005 10:36:51 PM

Originally Posted By M4-TUNA:

Originally Posted By jkstexas2001:

Originally Posted By blackeye:
$ 10,000




Nope, $9,999.00

NOPE $9,999.99



+1
Synister1  [Team Member]
3/4/2005 10:37:06 PM
Max you can deposit without flagging your account is $9999.

But I'd recommend it be $9876.32 or such otherwise they might flag it because it would appear you were trying to dodge the flagging.

Red_Beard  [Team Member]
3/4/2005 10:41:23 PM

Originally Posted By Rudison:
A buddy of mine is VP security for a mid size bank.
Any transaction of $10K or more is manditorially reported.
$5K 2 days apart is not going to bring the black Helo knock-knock to your door.



no, but splitting it across two days to avoid reporting requirements will get you tossed in federal pound me in the ass prison for the crime of "structuring".


Also, didn't the patriot act lower this $10,000 limit?

Woden  [Member]
3/4/2005 10:42:42 PM
If it's greenbacks....it's considerably lower than the 10K amount bandied about here. When you do a transaction the teller can see your last transactions in an instant. With a couple of keystrokes they will flag your account.

Oh and if you have it....try to withdraw $30K in cash from your bank. I doubt they will do it unless it's a very major branch.

jaqufrost  [Member]
3/4/2005 10:42:42 PM
From what I understand it is also illegal to purposefully avoid having your account flagged by making several smaller deposits.
Dragracer_Art  [Member]
3/4/2005 10:44:07 PM
As mentioned in previous posts, $10k is the magic number...
One of the last big deposits I made, didn't even raise an eyebrow with the bank mgr... She just had to fill out a quick form... It was no big deal... I don't even remember what was on the form, but she did say they are required to use it on any deposits over $10k... I think I may have even had to sign it somewhere...

It's actually less trouble to just have the funds wire transferred directly into your account if possible...
When I sold my Drag Car, the buyer called me on a Thursday (Thanksgiving Day) to confirm the deal. By Friday afternoon, he had wired $32k directly into my account. He was on the opposite side of the country and it was the fastest, easiest, most secure way to handle the transaction.
OTOH... When I originally bought the car, I drove from PA to Orlando to pick it up, with $30k cash in a briefcase...
innocent_bystander  [Team Member]
3/4/2005 10:44:20 PM
If the IRS wants your bank records all they have to do is ask for them (IDR or Information Document Request).

The dumbest thing you can do is to make deposits of any size thinking the IRS will never see them.
BigB1129  [Member]
3/4/2005 10:44:53 PM
I think my friend deposited 25k last month in cash
Oslow  [Team Member]
3/4/2005 10:46:19 PM
If you need some help I'll deposit your cash in my bank account; no problem.
LoginName  [Team Member]
3/4/2005 10:46:32 PM
Thank you... "war on drugs".
motown_steve  [Team Member]
3/4/2005 10:46:43 PM
I thought that the lowered it due to the war on terror. Isn't it more like $1,000 now?
Blackriflefever  [Team Member]
3/4/2005 10:47:40 PM
Give it to me. You won't get anyone looking at you funny. I will handle the rest.
Dragracer_Art  [Member]
3/4/2005 10:49:21 PM

Originally Posted By Woden:

Oh and if you have it....try to withdraw $30K in cash from your bank. I doubt they will do it unless it's a very major branch.




When I needed to pull $30k from my account last year, I asked the bank manager several days in advance if it would be a problem to withdraw an amount that size... She said not normally, but if I was sure of the day I was coming in, she would be sure to "order extra money" so they would have it... (She was serious)
On other occasions, they have been able to scrape together $8-10k from a few drawers, and it only took 'em a few minutes to gather it up... Anything more than that, and I think it's considered "rude" to not give them a little advance notice...
BillofRights  [Member]
3/4/2005 10:51:09 PM
I think the answer really depends on who you are trying to hide the money from.

Making all your normal purchases in cash for a while would seem to be a no brainer, but if you are talking about a large amount of cash, I really don't know. Interesting intellectual excercise though.
Dragracer_Art  [Member]
3/4/2005 10:52:46 PM
I would think as long as your intentions are honest, it really doesn't matter HOW much you deposit...

Don't forget...

The bank WANTS you to deposit large amounts of money...

By the same token, if the funds came from a questionable transaction, then it's best to just stuff the 'ole mattress....
Tanam  [Member]
3/4/2005 10:53:03 PM
$9999
Woden  [Member]
3/4/2005 10:54:51 PM

Originally Posted By Dragracer_Art:
When I needed to pull $30k from my account last year, I asked the bank manager several days in advance if it would be a problem to withdraw an amount that size... She said not normally, but if I was sure of the day I was coming in, she would be sure to "order extra money" so they would have it... (She was serious)
On other occasions, they have been able to scrape together $8-10k from a few drawers, and it only took 'em a few minutes to gather it up... Anything more than that, and I think it's considered "rude" to not give them a little advance notice...



Right. I didn't mean they wouldn't do it at all....but that they can't do it if you just walk in off the street and say "Gimme my money". I was actually surprised they couldn't handle that "small" of a request. And I'm not talking a small town...but Fairfax County, VA...one of the "wealthier" ones in the country. I guess it keeps criminals from targeting them as hard.
johnnyrebel  [Member]
3/4/2005 10:57:42 PM
10,000 is the max but when i have a large dep i usually put 9.900 just to make sure since i may have drawn out and it not show till that day as in dont write a check then dep 10k you will cause a flag...it goes for the same account ..as in if you have 2 diffrent accounts with 2 diffrent banks then 10k in each account ....
roboman  [Team Member]
3/4/2005 10:59:44 PM
$9,999.99bar is the max you can put in....
Dragracer_Art  [Member]
3/4/2005 11:00:48 PM

Originally Posted By Woden:

Originally Posted By Dragracer_Art:
When I needed to pull $30k from my account last year, I asked the bank manager several days in advance if it would be a problem to withdraw an amount that size... She said not normally, but if I was sure of the day I was coming in, she would be sure to "order extra money" so they would have it... (She was serious)
On other occasions, they have been able to scrape together $8-10k from a few drawers, and it only took 'em a few minutes to gather it up... Anything more than that, and I think it's considered "rude" to not give them a little advance notice...



Right. I didn't mean they wouldn't do it at all....but that they can't do it if you just walk in off the street and say "Gimme my money". I was actually surprised they couldn't handle that "small" of a request. And I'm not talking a small town...but Fairfax County, VA...one of the "wealthier" ones in the country. I guess it keeps criminals from targeting them as hard.



Well... My bank is in a "small town" and is in a "not very wealthy" area...
I too, didn't think $30k was THAT big of a request...(especially for a BANK) But I still figured it was wise to give 'em a little warning before my withdrawl, considering the size of the branch and it's location...
onesht1kl  [Member]
3/4/2005 11:02:55 PM
$1.27
NoHarmNoFAL-01  [Team Member]
3/4/2005 11:03:31 PM

Originally Posted By repub18:

Originally Posted By ComputerGuy:
I understand anything over 10k is flagged. But if I went into the bank and put 2,000 cash in each week, would someone get suspicious?

If I went to a bank in which I do not hold an account, would they exchange 5,000 small bills for larger ones? Would they require any identification?



1.Why would they? Its none of their business

2. They might have a problem providing a service free of charge



Last I checked, that was exactly their business.
ARDOC  [Team Member]
3/4/2005 11:04:47 PM
The way to get around the 10k mark is to open a business account. If you have legit business, its not unusual to deposit a large amount of money every night. If you have a regular routine, its not going to raise any flags. My dad would deposit over 10k every friday. But that was normal for a business.
bear3351  [Team Member]
3/4/2005 11:06:36 PM
Not more than $10,000.00
JosieWales  [Member]
3/4/2005 11:11:05 PM

Originally Posted By repub18:
Under $10,000



To the best of my knowledge that has been lowered to:

More than $3,000.00
nightstalker  [Team Member]
3/4/2005 11:11:32 PM
www.sia.com/moneyLaundering/html/background.html

It depends. As low as $3000 for things like traveler's checks.
JosieWales  [Member]
3/4/2005 11:11:56 PM

Originally Posted By piccolo:

Originally Posted By IchWarrior:
If its legal, why should any of it matter?





Simple. The less contact you have with the authorities, the better.

Being investigated, audited, etc can be a MAJOR PITA even if you're guilty of nothing.

Remember, the services you need to defend yourself (CPAs, Lawyers, etc) from a gubmint audit/investigation is going to come out of your pocket. You will NOT be reimbursed.

A sad part of life is avoiding even the APPEARANCE of evil.



+1
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