Feds Urge Banks to Call Cops on Customers Who Withdraw $5,000 or More

Tea Party ^ | 3/23/2015 | Staff

[eastforker]

No, it is not unusual down here in the south for someone to carry several thousand in cash as walking around money. Never know when a special deal is gonna come up or a hot card game develop.

[sickoflibs]

I needed some peppers Sunday for a pizza and the closest store to where I was near was a little (immigrant) Indian food store
and unlike the name groceries the little store doesnt accept credit cards for less than $5, and he rang up $1.03 UGGGH

Fortunately he accepted the $1 rather than give me 97 cents back on the next dollar.

[JRandomFreeper]

Never know when a special deal is gonna come up

Woot! You got that part right. I once saw an old guy pull $3K out of his bib overalls and buy a tractor (right there, like it sitz).

He got a great deal, and spent about %15 of what he normally would have.

I love me some special deals.

/johnny

[JRandomFreeper]

I find that grandkidz make a great sink or drain for change and one dollar bills. They darn sure aren't a good source. ;)

/johnny

[Little Ray]

So, you pull out $5K in cash and the cops are waiting?
RICO anyone?

[Lazamataz]

Muslims.

[Rusty0604]

Walgreen has a rewards card which I have one in order to get sale items but I refuse to use it when I buy tobacco.

[mulligan]

Nazi Germany actions? Wake up America.

[Carriage Hill]

“I just want to spread the money on my bed and roll around naked in it”

LMAO!
But that’ll probably get you a visit from the Health Dept and FDIC kooks.

[Abathar]

Home Bank, Morgan County Indiana

[crusher2013]

Maybe for the little people.

But without cash, what are the politicians going to hide in their freezers in brown bags?

[HamiltonJay]

Got news for you, you withdraw 10k or more the fed gets notified, has been that way for years! All they are doing is dropping the amount to trigger the notification.

[nascarnation]

Bitcoins?

[Pollster1]

They also have a concept of “structuring” for financial transactions, which means if you have multiple transactions which were separated to avoid going over $5k or $10k in a single transaction, that counts as a single transaction of the total amount. You can’t just take out three withdrawals of $4k each at different times of day or on three consecutive days to avoid the reporting requirements and the annoyance of FedGov intruding on your private, non-criminal behavior.

[Georgia Girl 2]

I think you would be right. They want all your money in the bank when the big haircut comes and its coming.

[Jane Long]

True that.

[HomerBohn]

Too bad I don’t bank there. I’d draw out every penny!

[Minutemen]

It’s not greenbacks they want to hoard, it’s the gold & silver they want to buy and squirrel away before the Dollar collapses.

[JimRed]

I move larger amounts of money around between bank accounts and brokerage accounts and have never had the slightest problem.

By withdrawing, carrying and depositing it in cash?

[JimRed]

I just don't mess with 3% of $180. Probably not even to bend over and pick it up in a parking lot. It's tiny money, in some eyes.

$5.40. I'd bend over to pick it up. A pint and a tip more than I had before I bent over!