often need new parts. Also subject to tarriffs.

Eggs would be 3 dozen for a buck, and a house would cost under $100K, and oh by the way, I want a pony!

was this for financing?

And I'm not on social security yet so maybe elunatic doesn't have mine yet.

have a card, the Muskrats have your number.

I never gave that to them for taxes etc. When I start social security I am going to open a separate account just for that since they won't let you get checks mailed anymore apparently.

And they accepted and cashed it

I owed state taxes last year, and I always get refunds by check. I didn't feel comfortable with giving them my bank account info.

It will be a bit of a hassle but it will hopefully stop elunatic etc. from stealing our money.

are written for over a certain amount.

Last edited Fri Apr 4, 2025, 04:38 PM - Edit history (1)

I was able to avoid financing when I bought my new car 18 months ago & they needed my SS#. When I questioned it, they said credit still gets checked for larde cash transactions. I suppose that's a way to confirm I (or thei dealership) wasn't laundering money

When I was in the business it was over $10k. Or some combinations of lesser amounts

A check over 10k was ok because the bank had their reporting. No report by us.

Obviously 10k in cash had to be reported by us.

But say a check for 6k and 6k in cash would not be on any other institution’s report so it was on the dealership to report.

And we couldn’t just report anyone or that would get us a fine.

6 months ago. They told me they had to check my credit to see if my check would be good.

to withdraw cash before I went to haggle with a guy over buying his tractor. The teller asked me what I planned to use it for. I guess the look on my face caused her to quickly volunteer apologetically, “I’m required to ask for any withdrawls over $10,000.” I left about five minutes later with $9,999 and a little pissed. After I left, I realized I should have gotten $.99 more.

Thankfully, I was able to strike a deal onthe tractor, and the seller was OK with a check for the balance of the price.

I admittedly have a bit of a libertarian stripe on things like giving up my SSN or disclosing how I plan to use MY money.

I know because I got $10K out the last time I went to buy a car.

In my flabbergastness, I wasnt thinking straight. I should have had my brother the industrial engineer with me. He would have caught that!

it was originally 10K, but I think they are now reporting even 5K.............

Also, the banks tellers are trained to spot the elderly who have been taken in by a countless number of scams who are withdrawing large amounts of money in cash as requested by the scammers.....

So, taking out $6k multiple times over a few days, for example, will definitely get yo on the list.

Supposedly they started that decades ago yo catch drug dealers

people from scams. You can still withdraw over $10k, but the bank has to be satisfied you’re not getting scammed in some way. While I guess the intentions are good, I dont like it someone could refuse to give a customer their money.

The $10k reporting limit on cash deposits is a federal government reg. The bank has to report it.

As a general rule, the Internal Revenue Service (IRS) requires that Form 8300 be filed if a business receives more than $10,000 in cash from an individual buyer through a single transaction or two or more related transactions. Form 8300 is required if any part of the transaction occurred within the United States or its territories. This IRS rule applies to everyone: individuals, companies, corporations, partnerships, associations, trusts, and estates all must file Form 8300 by the 15th day after the transaction takes place.

On the bank’s side, banks and financial institutions are required to complete a Currency Transaction Report (CTR) for cash transactions that exceed $10,000 in a single day. CTRs are required for that $10,000 amount even if the amount is exceeded by multiple transactions. A CTR will include the name of the individual completing the transaction, as well as their bank account number, address, and social security number. There are also penalties for financial institutions that fail to file a Currency Transaction Report when required.

Additionally, when a transaction seems suspicious—meaning it could point to money laundering or the client appears to be trying to avoid BSA reporting—the financial institution is required to file a suspicious activity report (SAR). An SAR reports the suspicious activity to the Financial Crimes Enforcement Network (FinCEN). Suspicious Activity Reports are filed by banks confidentially, and there are penalties for banks who disclose to a client that they have filed an SAR.

https://www.moderntreasury.com/learn/bank-secrecy-act

The Bank Secrecy Act

The BSA was originally passed by the U.S. Congress in 1970 and signed by President Richard Nixon into law on October 26, 1970. Shortly after passage, several groups attempted to have the courts rule the law unconstitutional, claiming it violated both Fourth Amendment rights against unwarranted search and seizure, and Fifth Amendment rights of due process. Several cases were combined before the Supreme Court in California Bankers Assn. v. Shultz, 416 U.S. 21 (1974), which ruled that the Act did not violate the Constitution. Until the 1980s, there was a "prolonged period of inaction", but financial institutions eventually complied with the BSA's reporting requirements.

The statute has been amended several times, including provisions in Title III of the USA PATRIOT Act, which amended the BSA to require financial institutions to establish anti-money-laundering programs by establishing internal policies, procedures, and controls, designating compliance officers, providing ongoing employee training, and testing their programs through independent audits. There was an attempt to include another amendment in 2018, called the Illicit Arts and Antiquities Trafficking Prevention Act (IAATP). As the name implies, its aim was to restrict illegal trafficking of art in the United States which has the highest rates of money laundering in the world. It was not passed in the United States House of Representatives. This was because the aim of the IAATP did not directly correspond with the aim of the BSA which, according to Congressman Luke Messer, sponsor of the bill, is to "counteract terrorist financing and crack down on terrorist organizations like ISIS".

https://en.wikipedia.org/wiki/Bank_Secrecy_Act

A smart bank teller saved my mother from a scam

Most likely a SARS , Suspicious Activity Report was still filed with the IRS and reported as structuring. You didn't fool anyone.

It's been my spouse's job at the bank for over 20 years.

thinking a bundle of cash would get me a better deal! However, I got pretty annoyed that I was expected to explain how I planned to use my money. Going under the limit by $1 did give me the satisfaction of not having to explain myself to some 19 year-old.

They were just doing the job as required by law.

First of all, nobody cares if you buy a tractor. Had you just taken out the money you wanted, it would have been a simple CTR report that just gets filed. Since you structured, it became a SARS which receives more scrutiny by the IRS

I wish had more experience with large deposits and withdrawls! I might know more about these things.

If your wife had to deal with this kind of stuff for 20 years, I bet she’s got some good stories!

I've heard your same scenario before from her

The sad ones are the romance scams. One older local woman is convinced Garth Brooks is in love with her and once he gets divorced from Trisha Yearwood, he is coming to get her, but needs $4500 first. Multiple local women have also expressed that Mel Gibson wants to marry them and needs them to send money as well. Not just women, men have also come in with similar stories about Jeniffer Aniston or Shania Twain.

Is that legal?

My father was scammed by a contractor while I was asleep. We called the bank and they immediately stopped a check. But the credit card he also used said they needed proof of fraud to stop payment!

I called the company at 2 am and told them if they did not return the money on the card I would be calling the police to report them for fraud. Even though the scammer from company showed up again to work the next morning, (after I had told him not to and made them stop work and leave), and harassed my father on the phone, I was still able to get all the money back. Someone senior in the company came to arrange it all a day later and the scammer got some sort of reprimand suspension. I should have reported it to the police anyway.

I did write a review about what they did and that it was all planned in advance after an estimate visit. The senior person told me they lost work after the review, and asked me to update it. A few months later he called me asking for forgiveness etc. I said if all the scammer got was a reprimand and you lost 2 jobs that was nothing compared to me ending up in the hospital not long after due to stress and our house being torn to shreds when all you were supposed to do was fix a door. We ended up having to do new siding and a new roof, they also left the roof exposed. I woke up to them tearing up the roof and tiles on the house and banging, with multiple people there and they were throwing tiles off the roof everywhere. I went out in my pajamas screaming at them to stop after my father told me what happened.

They can contact local law enforcement to let them know and hopefully talk them out of it.

Finally, they can refuse to participate in facilitating wires and close the account. Sometimes, after a scammer has drained someone's life savings, the children of the victim decide to blame the bank instead of their mother or father.

were put in place in recent years to protect people and banks from scams, which are rampant. As a result banks scrutinize transactions in a way that they did not previously. The tellers ask more questions, and the computers use AI to detect suspicious transactions.

I’ve transferred $50,000 to my daughter twice so she could buy an house and another $15,000 this January. No questions no problems no delays.

It’s so obvious

My family including my sister always used to yell at me for talking politics so much, now she often is the first to bring it up.

fuckhead started crashing the market and putting tariffs in etc. I will be buying used now for sure. Fuck you USA!!!!

idiots fell for a con man's crap.

* https://www.cargurus.com/Cars/listing/407166975 there's EUV's too.. all battery .. tiz the way and the life . . . in level 2 chargin FL" .

You'll find that DU has some of the smartest people with some of the best sense of humor you'll find anywhere.
Enjoy your stay.

Welcome

SS card. They removed that in 1972. They should have never taken that off the card.

The Traverse is made in Michigan. Otherwise Chevy's large SUVs and trucks have some US made options like the Tahoe. Most of their lower priced vehicles are imported.

I’m gonna drive the hell outta what I have.

on 4/1/25. The salesperon said they were swamped with customers who wanted to get vehicles before the tariffis kick in.

US vehicles built by UAW workers would likely be exempt.

Last edited Thu Apr 3, 2025, 10:46 PM - Edit history (1)

My business will probably go dormant. I rep a 1/2 dozen aluminum extruders and diecasters in India. Trump is hitting india hard with whatwe believe amounts to be a 50% tariff on these products from India.

Who wins? Russia! Trump will probably grant Putin MFN trading status with the USA. Who is gonna stop him?

So my key customers are freaking out. There's a bidding war for US limited extruding capacity right now....US producer prices are going up, up, up! And guess what....what business, in their right mind, will invest in $100-250MM plants to produce more capacity with these low tech, dirty, low-paying jobs?. Hey, where is the labor going to come from? Kicking immigrants out means we'll be seeing Republicans reduce the child labor age. They will have to; in order to support mom and dad.

Who loses? We do. This is how we regress under Republican Fundamentalism.

Don't give it out to anyone else. Ever.

It's not necessary for a credit check, don't let them BS you.