NTers who work at banks I have a few questions.....

nawghtyhare

nawghtyhare

63,610
50,738
Joined
May 23, 2005
I have b of a
Wells Fargo
And chase bank


What's the deposit limit before u have to fill out a special form of whatever at a bank???
Like if I deposit $11,000 what form is it???
And why????
And will it look shady???
Can I spread it out over months???
Why do I have to???
Can I put someone else's money in my account to hold???
Like say $15,000
Like if someone wanted me to hold onto their money???
Will I have to fill out tax forms???
 
ANY amount over $10K. It's called a CTR, Cash Transaction Report.

I believe it get's sent to the FBI and some other agencies although I'm not 100% sure about who it gets sent to.

If it's actually clean money that is yours, then you have nothing to worry about. Idk if once will set any alarms off with whoever receives the notice, but I know if you do it multiple time they will take notice.

Unless you got hundreds of millions, there's no way around it.

If it's questionable money, keep it away from the bank and if you really want it in there you have to do it in small amounts that are consistent with your usual CASH deposits. But there's other ways to wash the money down.

I believe all of this started with RICO or the Patriot Act, again I'm not sure.
 
zapatohead408 said:
ANY amount over $10K. It's called a CTR, Cash Transaction Report.

I believe it get's sent to the FBI and some other agencies although I'm not 100% sure about who it gets sent to.

If it's actually clean money that is yours, then you have nothing to worry about. Idk if once will set any alarms off with whoever receives the notice, but I know if you do it multiple time they will take notice.

Unless you got hundreds of millions, there's no way around it.

If it's questionable money, keep it away from the bank and if you really want it in there you have to do it in small amounts that are consistent with your usual CASH deposits. But there's other ways to wash the money down.

I believe all of this started with RICO or the Patriot Act, again I'm not sure.
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See like I have all these accounts
But I just never trust banks
And now I have too many Nike shoe boxes
Filled with cash
Everytime I get paid I take money out
I only put money in the bank to pay bills
But now I have too much money just chillin in the house something can happen
From robbery to fire or whatever
And just wanna put it up
Where it will be "somewhat" safe
 
A safe bolted down somewhere hidden in your house?

Gold is pretty cheap right now as well as silver, that's another option.

As far as not trusting banks, the FDIC insures you're money up to $250K so you don't have to worry about any bank runs leaving you without money.
 
zapatohead408 said:
A safe bolted down somewhere hidden in your house?

Gold is pretty cheap right now as well as silver, that's another option.

As far as not trusting banks, the FDIC insures you're money up to $250K so you don't have to worry about any bank runs leaving you without money.
Click to expand...
U going to be at the Nike meet up thing right????
 
nawghtyhare said:
zapatohead408 said:
A safe bolted down somewhere hidden in your house?

Gold is pretty cheap right now as well as silver, that's another option.

As far as not trusting banks, the FDIC insures you're money up to $250K so you don't have to worry about any bank runs leaving you without money.
Click to expand...
U going to be at the Nike meet up thing right????
Click to expand...

Only if you promise to tip the doorman.
 
zapatohead408 said:
nawghtyhare said:
zapatohead408 said:
A safe bolted down somewhere hidden in your house?

Gold is pretty cheap right now as well as silver, that's another option.

As far as not trusting banks, the FDIC insures you're money up to $250K so you don't have to worry about any bank runs leaving you without money.
Click to expand...
U going to be at the Nike meet up thing right????
Click to expand...

Only if you promise to tip the doorman.
Click to expand...
I ain't tipping no one for just doing their job
Not to mention I can open a door myself
I'm not disabled
I can open and close a door
So tipping the door man ain't happening
 
zapatohead408 said:
A safe bolted down somewhere hidden in your house?

Gold is pretty cheap right now as well as silver, that's another option.

As far as not trusting banks, the FDIC insures you're money up to $250K so you don't have to worry about any bank runs leaving you without money.
Click to expand...


I wouldn't count on the FDIC in a bank run. Besides, they won't tell you it's gone, they'll just tell you that you can't take it out right now lol.

Interesting fact, structuring deposits in a manner to avoid having to file forms is illegal and actually has a harsher penalty than if you were just to deposit all of it illegally.

Also, over $10K and i believe you have to fill out a form. If it's over, $5k (i think) the teller has to fill out a form for the IRS and doesn't have to tell you they are doing it. Over $2k and it is at the tellers discretion whether they file the form or not again they don't have to tell you. Watch as they casually ask about any large cash deposits or withdrawals, they are trained to judge if you seem suspicious or not.
 
FrankMatthews said:
zapatohead408 said:
A safe bolted down somewhere hidden in your house?

Gold is pretty cheap right now as well as silver, that's another option.

As far as not trusting banks, the FDIC insures you're money up to $250K so you don't have to worry about any bank runs leaving you without money.
Click to expand...


I wouldn't count on the FDIC in a bank run. Besides, they won't tell you it's gone, they'll just tell you that you can't take it out right now lol.

Interesting fact, structuring deposits in a manner to avoid having to file forms is illegal and actually has a harsher penalty than if you were just to deposit all of it illegally.

Also, over $10K and i believe you have to fill out a form. If it's over, $5k (i think) the teller has to fill out a form for the IRS and doesn't have to tell you they are doing it. Over $2k and it is at the tellers discretion whether they file the form or not again they don't have to tell you. Watch as they casually ask about any large cash deposits or withdrawals, they are trained to judge if you seem suspicious or not.
Click to expand...
So just deposit the money even if it's close to 20 racks and call it a day????
 
^ :lol: what bank is this?
@zapatohead408 got it right. Anything over 10k is a CTR form that the customer is made aware of at the time of the deposit. When dealing with money orders and cashier checks over 3k there's a form for that as well but the customer doesn't have to know about. And lastly a form that gets filled out for anything suspicious going on that stops short of police needing to be called eg. Exposed cash being moved to safe deposit boxes, deposited money that reeks of weed/chemicals, adjusting your deposit once CTR is mentioned, etc.
 
kidKiDd said:
^ :lol: what bank is this?
@zapatohead408 got it right. Anything over 10k is a CTR form that the customer is made aware of at the time of the deposit. When dealing with money orders and cashier checks over 3k there's a form for that as well but the customer doesn't have to know about. And lastly a form that gets filled out for anything suspicious going on that stops short of police needing to be called eg. Exposed cash being moved to safe deposit boxes, deposited money that reeks of weed/chemicals, adjusting your deposit once CTR is mentioned, etc.
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So $10,000 no ctr form
$10,000.01 and ctr form
Hmmmmm
I can just break up the $20k and just deposit it evenly through all 3 accounts and banks though huh
 
Also u can't put cash in a safety deposit box??????
I see it in movies all the time
That's illegal?????
 
Spreading throughout three accounts is still 10k coming from you being handed over to the teller. And safe deposit boxes are treated like don't ask don't tell. Meaning we won't ask you what you have in there or what you're doing in the privacy room but if we happen to see you or over hear you mentioning moving cash to the box then we'd have to shut it down a fill out the suspicious activity form.
 
kidKiDd said:
Spreading throughout three accounts is still 10k coming from you being handed over to the teller. And safe deposit boxes are treated like don't ask don't tell. Meaning we won't ask you what you have in there or what you're doing in the privacy room but if we happen to see you or over hear you mentioning moving cash to the box then we'd have to shut it down a fill out the suspicious activity form.
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Oh no I meant like in different banks
Like spread it out through my Wells Fargo chase and bofa account
So 7 in chase 7 in wells the rest in bofa
Also damn how come u can't keep cash in a safe deposit box??
 
Bro just deposit a couple hundred a month via the ATM spread out over a few months. That's all.
 
nawghtyhare said:
Oh no I meant like in different banks
Like spread it out through my Wells Fargo chase and bofa account
So 7 in chase 7 in wells the rest in bofa
Also damn how come u can't keep cash in a safe deposit box??
Click to expand...
If you split the deposits between banks then you won't have to worry about the CTR.
You aren't supposed to keep cash in a safe deposit box, but since you are the only person who would know what is in there you could if you want.
I don't think safe deposit boxes are insured like your accounts are, and that is why I think people don't keep cash in there.
 
Whats the big deal of depositing all the money at once?  You already stated that this is the money you get paid from (job) and you withdraw it immediately, correct?  If so, you have a paper trail of where this money came from.

Usually when people are worried about filling out a CTR, something isn't all the way correct...
 
nawghtyhare said:
See like I have all these accounts
But I just never trust banks
And now I have too many Nike shoe boxes
Filled with cash
Everytime I get paid I take money out
I only put money in the bank to pay bills
But now I have too much money just chillin in the house something can happen
From robbery to fire or whatever
And just wanna put it up
Where it will be "somewhat" safe
Click to expand...
PM me ya address I know I good hiding spot
 
Would it be beneficial to put the money in a safety deposit box, if you don't want to put it in your account and are worried about it being stolen from your home? Might be cheaper than a top of the line safe.

I don't think banks can know exactly what's in it, so I doubt there's a form to fill out for the "amount" of money you put in it. My girl used to work at a bank and I think she even said she can't even look when they're getting something from / putting something in their box.

I'll check with her and update.
 
Any CASH deposited or withdrawn above 10,000 the teller fills out a CTR, not the customer. Eg. Deposit or withdraw 10,000.01, the teller fills one out. This gets sent to the bank back office and they will investigate if they find it suspicious. If it's legal money nothing to worry about. And if you are thinking of splitting the CASH deposits up to different days or different banks that's called structuring. If it's illegal money and the banks catch on you will get caught up.
What's the big deal about depositing the entire amount?
 
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