Strange buyer's

[Truck Shop]

The point was missed--sure it's your money, sure you can clean out your account.
The point is not all banks have that kind of cash on hand, plus the fact of too many
withdrawals in the range of 10,000 starting at five can cause the SAR to trip. Banks
are required to report unusual cash withdrawals. In some cases accounts can be frozen
along with cards until an investigative audit is done, or the person on the account
can prove what it is for. It all has to do with money laundering, tax evasion, drugs.

 

[Welder Dave]

Now it's changed to, it might take a couple days. That's a huge difference from being able to just walk in and take out large amounts of cash.

 

[Birken Vogt]

I pulled a bunch of cash to take to an equipment sale. Sale was pouring rain, no cover, I had things that I had to look at so I just got wet and so did the cash. Did not end up buying anything, took it all back to the bank next day. They were annoyed it was all soaked, said they would have to stand it up on end (it was sort of horseshoe shaped) and let it set in the vault to dry out. I'm sure that was annoying because I'm sure they have certain places the cash is supposed to be stored but I did not want to have possession of it for that long.

 

[Old Growth]

Depending on the bank and day ill bet most have 100K green cash on hand at least.

Not around here.

We bought a nice 67 Pontiac a few years ago and I had to go to three different branches on two different days to get enough out to pick up the car. I had to reschedule to friday since I could not get it all out on the wednesday when I told him I would pick it up.

 

[motionclone]

The point was missed--sure it's your money, sure you can clean out your account.
The point is not all banks have that kind of cash on hand, plus the fact of too many
withdrawals in the range of 10,000 starting at five can cause the SAR to trip. Banks
are required to report unusual cash withdrawals. In some cases accounts can be frozen
along with cards until an investigative audit is done, or the person on the account
can prove what it is for. It all has to do with money laundering, tax evasion, drugs.

Actually the incorrect point being made was that there was a legal limit on how much cash a person is allowed to pull out of the bank. First he said it was 5k then he said it was 10K, neither is true. It was supposed to be some argument for writing checks to sellers on private sales. He had a misunderstanding of the reporting requirement and instead of saying yeah i guess youre right you actually CAN take out more then 10K, he and others just piled on in a different direction and here we are.

And who cares if there is a report made to the IRS? If you arent doing anything illegal nothing will happen. The reporting is just a requirement that banks have to do to help the feds catch money laundering or tax avoiding schemes. If you arent running a tax avoidance or money launder scheme and you are just pulling money to pay for a boat or truck you will be perfectly fine.

 

[56wrench]

I would’t take a large amount of cash from anybody. Who’s to say some or all of it was counterfeit? Bank draft, wire transfer or e-transfer works for me. When we retired and sold our equipment over a couple years, thats how we did it. No problems

 

[Truck Shop]

Not sure where you get info but you should look elsewhere. There isnt a 10K limit on

Would you show me and the rest where I used the word limit, I never did or implied any limit.
What was implied was a triggering of SAR-CRT. Like many you read too much into what is a
reply, or add what isn't there. Find the word {limit}.

 

[cfherrman]

If you arent doing anything illegal nothing will happen.

You certainly haven't been paying to attention to the criminal justice system lately

 

[HarleyHappy]

So, I just took out 6100 yesterday in cash, a few months ago I took out 16k for a used SxS, I will admit, they do ask what you’re doing with it kinda slyly.
We deposited over 250k from a house sale almost 3 years ago.
I jokingly said it was a great coke deal, the check was from another bank.
I did call ahead of time and give not before I picked up the 16k and they told me anything over 25k, ask ahead of time.
Not for the amount but the time to count it ahead of time.

 

[motionclone]

Would you show me and the rest where I used the word limit, I never did or implied any limit.
What was implied was a triggering of SAR-CRT. Like many you read too much into what is a
reply, or add what isn't there. Find the word {limit}.

Post #117. You said could only take out 5k at one time, then later in another post you said it was 10k.

 

[Truck Shop]

Did you find the word limit?

 

[DMiller]

Received a final call from the hard head, asked if I had changed my mind. Asked him if was still in the Trk paper Ads, he said did not see it in latest, told him is as no longer for sale. Said I would be back, told him to hold his breath til then.

Does not matter if Want Need or Have to sell it, will NOT be to that ass. As get older get far less tolerant of Insolent or Aggressive disrespect.

 

[motionclone]

Did you find the word limit?

I get it, youre embarrassed and feel foolish that you thought that the 10K IRS report trigger was actually a limit, a cap, a max amount you can take out at a time, etc. Even going so far as to be arrogant with that incorrect info. But its no big deal we all make mistakes and learn from them. If you keep doubling down on your mistake with denials and BS word games though this lesson you just got might not stick and then theres a chance you'll forget what you just learned.

 

[motionclone]

I jokingly said it was a great coke deal,

Youre definitely on a couple lists now!! BUT who cares if you arent actually doing anything wrong? I think those sus reports only come into play if you happen to be investigated for something else, then the gov has some on hand intel into your bank activities.

 

[Acoals]

I get it, youre embarrassed and feel foolish that you thought that the 10K IRS report trigger was actually a limit, a cap, a max amount you can take out at a time, etc. Even going so far as to be arrogant with that incorrect info. But its no big deal we all make mistakes and learn from them. If you keep doubling down on your mistake with denials and BS word games though this lesson you just got might not stick and then theres a chance you'll forget what you just learned.

Might not hurt to learn how to have just enough respect to not be so desperate for the last word . . .

 

[motionclone]

Might not hurt to learn how to have just enough respect to not be so desperate for the last word . . .

how do you know its the last word? I was expecting him to call me a big meanie next.lol

I feel ive been nothing but respectful. Could have ripped him up but i was real nice instead.

 

[motionclone]

You certainly haven't been paying to attention to the criminal justice system lately

Guess not because ive never heard of anyone getting in trouble for pulling large cash out of the bank. Have you?

 

[Welder Dave]

He wasn't talking about how much you can take out and you aren't even familiar with what he was talking about. At the very least it would be a common courtesy, if not a requirement to let a bank know in advance if you wanted to take out a large amount of cash. What are you going to do if they don't have enough to give you? Make a big scene at the bank? There are alternatives to cash like bank drafts that are just as good and much easier to get in large amounts. I think bank drafts have mostly replaced certified cheques. The money is taken out of the account at the time the draft is made. The account holder no longer has access to it unless it isn't used. Then you have to go back to the bank and have it cancelled. I think they charge a fee for bank draft and/or to cancel one. I would rather a small fee and carry a bank draft made out to a specific person than carry a large amount of cash.

 

[motionclone]

He wasn't talking about how much you can take out and you aren't even familiar with what he was talking about. At the very least it would be a common courtesy, if not a requirement to let a bank know in advance if you wanted to take out a large amount of cash. What are you going to do if they don't have enough to give you? Make a big scene at the bank? There are alternatives to cash like bank drafts that are just as good and much easier to get in large amounts. I think bank drafts have mostly replaced certified cheques. The money is taken out of the account at the time the draft is made. The account holder no longer has access to it unless it isn't used. Then you have to go back to the bank and have it cancelled. I think they charge a fee for bank draft and/or to cancel one. I would rather a small fee and carry a bank draft made out to a specific person than carry a large amount of cash.

I think im going to step up my vetting game in future transactions after this enlightening thread.

 

[cfherrman]

Guess not because ive never heard of anyone getting in trouble for pulling large cash out of the bank. Have you?

Yes, doesn't matter if you get it back 4 years later