Banking and Cash Vent...

[MossRoad]

But we all had passports the last few times. Maybe that helps? :confused3:

 

[Industrial Toys]

Sou Crossing. I guess, they asked the purpose of the visit, I said to get this wood chipper, and I supposed they asked if I was carrying cash or taking cash into the country, to which I answered totally honestly. Eventually, they relaxed, and were joking about some movie involving a wood chipper, and I got to see their rack of impressive ARs.

 

[Diggin It]

3) Paypal was just a baby step. As business became more virtual, it was only a matter of time before more virtual "money" came along.

Harassing law-abiding citizens over minor amounts of money may be causing people who otherwise wouldn't be interested, to consider the various digital options out there.

4) Govts increasing efforts to enforce (and harvest taxes from) cash regulations, could accelerate the move to digital currency, potentially beyond their control altogether.

And yet, they do little about gift cards or this silly 'virtual money' nonsense that is almost completely untraceable by design.

Elect me as your next President and I'll outlaw most of that.

 

[Diggin It]

But we all had passports the last few times. Maybe that helps? :confused3:

Yeah, your 'papers'. We never even had to show ID at all back then.

 

[radios1]

When was the last time an officer stopped you and had his K-9 in or around you're vehicle? My guess is never...

MAINE is not a major drug trafficking route, Florida and Texas to up to the Northern States is.. THAT is where searches for drugs and money is concentrated.. and if someone thinks Police can't be corrupt, Google Frank Serpico, he STILL has to hide because his entire Precinct was corrupt, and he turned them in!!..

 

[aczlan]

Last time was last summer. Into canada at Windsor, out at niagara falls. in and out a few times at niagara. My kid did the same thing a couple weeks ago. No problems or hassles.

Same here, they ask if we are bringing in alcohol, drugs, tobacco, etc but never how much money we are bringing in (we are always going to visit family though, so perhaps that's part of it).

Aaron Z

 

[ultrarunner]

That sounds like a new bank policy not a new law. That's why the banker couldn't tell you about the 'law'. The only law regarding depositing large sums of cash is when the amount exceeds $10,000. I used to own laundries and I would deposit more than $10,000 cash a week, sometimes more than $10,000 at a time. However, it was into a business account so the bank never made me fill out the required form because businesses are exempt from reporting. If my wife made the deposit, it was a rare thing and she would have to show ID if the teller didn't know her. I was on a first name basis with everyone in the bank as I was in there over 100 times a year. Banks are running scared as they don't want to be seen as fronts for illegal activity especially if you are depositing cash into a personal account even though most smart criminals avoid using banks at all unless it is a laundering operation. If your bank is 'getting into your business', find another bank.

Yep... this is a business account with Tax ID number established in 1983... plus the business has all the required licenses and pays a Gross Receipts Tax on every dollar collected.

The only thing that crossed my mind is there are many new businesses with business license and paying/collecting taxes selling Marijuana since it was deemed legal in California. I believe Oakland was one of the first in the nation in this.

Oakland has plans to open a State Chartered Bank because too many of these dispensaries are targets... sometimes hundreds of thousands of dollars on hand as everything is cash...

The city doesn't like collecting tens of thousands of dollars at city hall in cash as these businesses must pay for everything in cash.

The US Bank Manager said the policy is enforced on deposits of $500 or more in cash but could not or would not say more.

This is also in an area where all the tellers are walled off behind plexiglass just like are Post Offices here.... as are they all are.

When I travel to Washington State... the US Bank branches I have visited in WA are like being in a different world... they have beautiful architecture… lots of windows, lighting and always snacks and water to go and no Plexiglass.

As some have commented it could be a California Bay Area thing?

As a side note... there have been times... as when I bought tractors when I requested a Cashiers Check and was going to be charged for the check... so I would say forget the check and give me cash... which never goes over well and they relent and waive the check fee.

US Bank is not a small bank... they swallowed up lots of smaller banks... when I was buying the Washington Property I let the manager know I needed to wire funds to close and would be coming in the next day... and I did.

Thing is no one in the branch had the authority to approve the wire... over their limit and none of the area branches could either as all the managers were away for a manager meeting that day... this was 2005...

This thread is bringing back memories...

 

[Jchonline]

Its simple just take your money elsewhere.

 

[ultrarunner]

Its simple just take your money elsewhere.

Yep... did that Friday.

It is interesting reading the posts from those with no issues and those that have had problems with cash... both here and in other countries.

 

[Diggin It]

And yet, they do little about gift cards or this silly 'virtual money' nonsense that is almost completely untraceable by design.

Elect me as your next President and I'll outlaw most of that.

Almost as if on cue, reviewing a news feed, I find this:

Terrorists Turn to Bitcoin for Funding, and They're Learning Fast
NY Times | Sun Aug 18, 2019 18:12 UTC

The authorities have begun to raise alarms about a steady uptick in the number of militant groups using the hard-to-trace digital currency.

 

[buckeyefarmer]

Find another bank to do business with. They don't want your's.
I haven't been in a bank in 15 yrs. I use a credit union.

Sold a tractor this past week. Told the guy I wouldn't take a check.
The guy went to the bank and withdrew 7K cash while I unloaded the tractor at his home.

My credit union wants 2 days notice for withdrawl over 1k.

 

[atsah]

MAINE is not a major drug trafficking route, Florida and Texas to up to the Northern States is.. THAT is where searches for drugs and money is concentrated.. and if someone thinks Police can't be corrupt, Google Frank Serpico, he STILL has to hide because his entire Precinct was corrupt, and he turned them in!!..

NY isn't?? They traffic drugs up here from the Bronx daily.. We put them boys away up here..

 

[Bird]

It is interesting reading the posts from those with no issues and those that have had problems with cash... both here and in other countries.

My credit union wants 2 days notice for withdrawl over 1k.

I been a member of my credit union for more than 50 years. I know I was a member in 1966. I can't recall ever having a problem with them. If I needed cash, there was a time when it was a bit inconvenient and a longer drive to get to their office, and their nearest office now is just about 20 miles from here.

However, I can get cash from ATMs at QuikTrip with no service charge. I did recently go into one of them and withdrew $750, and I know there used to be (and may still be) no more than 2 ATM withdrawals per day, but that's never been a problem for me.

 

[lilranch2001]

Under CAF, they don't have to prove anything, nor even accuse you of anything. It's up to you to prove your side, if you even get the chance to. There are PDs around the country funding their daily operations that way. Vote me in as President and I'll end CAF once and for all.



I don't remember the last time I had more than $100 cash on me. Everything I do is electronic. If I'm going to a small store that I know doesn't take CCs (like the Amish ones), I'll hit an ATM on the way.

Many employers now will not issue paychecks. All pay is Direct Deposit. All Federal and many State payroll and benefits transactions are Direct Deposit only.

Sort of like supreme court nominees needing to prove they didnt rape someone 30 years ago.....

 

[Howling]

The big banks are getting picky on cash.

A year ago my daughter in DC need money. Took $1000 cash and her account number to Bank of America. They refused the cash deposit. Their policy is only the account holder (with ID) can deposit cash. They pushed electronic transfer app that still would have taken 2-3 days to get her the money.

Never problems with my local bank. Even after merger with another small bank. 13 branches now. Personal, business accounts and mortgage all there. Greeted by name by the tellers. The way banking should be.

 

[Diggin It]

I went to BOA once.

Once.


(Nobody ever gets that reference!!)


I had a check drawn on the same BOA branch. The refused to cash it without a $10 'service fee'.

 

[MossRoad]

Yeah, your 'papers'. We never even had to show ID at all back then.

We didn't either "back then". Been going since the mid 80s. Only the last few years did we need a passport.

 

[kenmac]

it's VERY risky carrying large sums of cash!. if Police stop you for any reason, and they ask to search your car, and you say yes, and they find the cash, they take it, and it's up to you to sue to get it back!. it could take YEARS, or you may never get it back!. meanwhile, they use your money to fund their department!.. one example here, but there are MANY others!. Police abused civil forfeiture laws for so long that the Supreme Court stepped in. But one ruling won'''t end it. btw, if you say no to a search, they will send for a drug sniffing dog, if you don't know you don't have to wait for that according to the Supreme Court, and when the dog gets there, they can claim the dog smelled drugs, or just make the dog alert on command, and then they have probable cause to search your vehicle and seize your cash!..

I will never consent to an illegal search. They'll have to get a warrant if they want to search my vehicle.
If they find money and no drugs. they better keep it in a safe place if they illegally take it.
I will sue and get more than they illegally took

 

[Diggin It]

I will never consent to an illegal search. They'll have to get a warrant if they want to search my vehicle.

You could be detained along the side of the road for possibly hours while they do that. Or they may impound your vehicle for holding at a secure location pending the warrant, sending you home on foot.

If they find money and no drugs. they better keep it in a safe place if they illegally take it.
I will sue and get more than they illegally took

Seizing cash or property under CAF is not illegal. If you don't like it, lobby your Federal legislative reps to get it ended.

 

[buckeyefarmer]

I don't know why anyone uses BOA. B..tards of America...