Buy a fire/water resistant gun safe. Bolt to floor. Stack cash out of the clutch of the banks in case there is ever a run on them again. If that’s not an option,so as not to raise red flags limit amounts to under $10k at once.
Where does that money actually go since the bank doesn’t keep but a minor fraction of deposits on hand?
there are no red flags if you can legitimately prove where the money came from. if he shows them a receipt for the car then its all good. The worst he will have to do is fill out a form.
I understand that. Is it worth the hassle? And again…for me…no way I’d want loads of cash tied up in the bank knowing how the system works. JMHO
Props to Newman for being debt free either way…feels good don’t it? 8)
^^^ gain ANY transaction that seems to be shady can be recorded. Law only states that that the $10K limit MUST be recorded and a forum filled out. I had approx $50K in my safe I had to put in the bank when I was bought the motel and actually went to the bank and set it on the counter. The tellers eyes lit up and said you’re not serious are you? I thought you only filled out a form if you did a withdrawl. needless to say I visited alot of banks in WNY that day to deposit money and get cashiers checks.
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And when I put 5,000 into my first niagara acct in lkpt they made me fill out a formand asked and they said since they didnt know me it was their policy for 5k or above.
i’m sure that if he is talking about being debt free, a good part of that 42 grand probably went directly to paying the loan off so he release the lien on the title in order to sell the car… So i’m guessing the actual deposit into an account was much less than 42 grand, and probably won’t raise any “red flags”.
Or i’m completely wrong.
Congrats on the sale! I thought for sure you Jinxed it by posting it up. LOL Kinda trusting of the guy to give you cash. You could walk away with the money and have very little trace of the transaction.
Selling a house only takes about 3 months (otherwise you are asking too much). An apartment lease can keep you stuck in a place for longer than that…
X…
You are much more likely to get flagged by staggering it. They don’t have a max as to what you can deposit, maybe small banks do, but at $10k you need to do federal paper work. That doesn’t mean banks don’t notice when people are constantly depositing $9900 into accounts. If you can prove where you got it, you just deposit it all at once.
They also question you upon withdrawing over $10k, but I didn’t have to fill anything out for $11k.
The amount is the same for crossing the border, and flying. If you can prove it’s legit you just fill out the paper work. Obviously people who can’t do this try and smuggle it, and if you get caught, that aint cho moneys no more.
A few things:
Some of you guys are fucking strange
Some of you guys do not read
Some of you guys are REALLY fucking strange
You guys are recommending some of the strangest shit when all he did is sell a car and should have no issue depositing it and going about his life as normal. No need to build a super secret tree fort or anything like that. PS I deposited 18k in cash and nobody kidnapped me in my sleep or anything.
:lol:
this!
I could chime in with a whole bunch of regurgigation from the annual anti-money laundering class they make us take, but I really dont want to think about that right now. It’s slightly less exciting than watching grass grow.
why would you need to save for a house in Michigan? I can buy 2 off ebay with the cash stashed in a sock in my basement… (that’s not actually where i put it:) )
Newman, congrats on being debt free but you know what’s better than being debt free? Working toward and being close to debt-free while not having compromised.
You’re too awesome to need ot liquidate shit to get debt free… that is something Beck would do… 
step your game up fuckaroo… also, i texted you with the intent to lowball you on the 5zigen 18’s… respond.
congrats to making a turn away from the car scene. I keep my BMW around but have only put about 400 miles on it this whole year so far. Home, family, and entrepreneurship endeavors are much cooler now.
what does white fade to…a whiter white?