Never keep any money in a bank. Only credit unions.Not FDIC.
Are you pretty sure that credit unions are exempt from this reporting,
or are you just speculating?
Thanks in advance,
R17
NCUA same thing
I know a few people who work or have worked in banks, and pretty much every one of them said it’s okay to have a checking account as long as you run it down each month with basic costs of everyday life (in other words, never keep much more than your monthly cost of living in a checking account. As for savings accounts, they’ve said keep a float of $5,000 for emergencies, but under no circumstances more than $10,000, for ANY reason.
My daughter works in a credit union, they do it too.
Disappointing thing is at age 23, she doesn’t see anything wrong with that being part of her job.
I told her banks are not the police, and shouldn’t be doing any of these surveillance tasks.
Never keep any CASH in a bank.
The rest of my money I keep in a very safe place and it's not in a bank.
FMCDH(BITS)
I've wondered about the difference - do/are credit unions not required to report or gov't can't demand access to bank accounts with credit union?
Silly.
This is to stop money laundering. Sometimes a pain. But if you’re no criminal, is simply doesn’t matter.
[ Never keep any money in a bank. Only credit unions.Not FDIC. ]
I am beginning to think “Mayo Jar Buried in the back yard” is starting to look like a better place....
And not Cash paper, but at he very least things like the Gold President dollar coins, at the very best actual SILVER or GOLD...