Depositing $20,000 + in a bank?

Discussion in 'Market Discussion' started by Roses, Dec 16, 2019.

Depositing $20,000 + in a bank?
  1. Unread #1 - Dec 16, 2019 at 4:07 PM
  2. Roses
    Joined:
    Aug 6, 2018
    Posts:
    308
    Referrals:
    0
    Sythe Gold:
    283
    Vouch Thread:
    Click Here
    Discord Username:
    Diamonds#7813

    Roses Forum Addict

    Depositing $20,000 + in a bank?

    I was wondering if a bank would question me if I opened a bank and deposited $20K in? Earned it from selling GP over the course of 2 years and just held onto it. Any help/tips would be appreciated. I don't think they would question how I earned it? and I would be kind of embarassed to say I sold game currency?
     
  3. Unread #2 - Dec 16, 2019 at 7:12 PM
  4. Lean
    Joined:
    Feb 22, 2012
    Posts:
    4,672
    Referrals:
    1
    Sythe Gold:
    67
    Detective Trole Pool Shark Le Kingdoms Player Member of the Month Winner

    Lean Grand Master
    leanbean901 Donor Retired Global Moderator

    Depositing $20,000 + in a bank?

    Yes, They're going to ask you where the money came from, and want verification.
     
  5. Unread #3 - Dec 16, 2019 at 9:48 PM
  6. Loyal 2 da game
    Joined:
    Jan 5, 2006
    Posts:
    4,685
    Referrals:
    0
    Sythe Gold:
    667
    Two Factor Authentication User

    Loyal 2 da game Formerly known as Loyal To The Game

    Depositing $20,000 + in a bank?

    I've deposited and withdrawn all sorts of large sums between $10,000-$18,000 when buying/selling vehicles/equipment. Banks never ask me questions. YMMV.
     
  7. Unread #4 - Dec 16, 2019 at 10:35 PM
  8. Roses
    Joined:
    Aug 6, 2018
    Posts:
    308
    Referrals:
    0
    Sythe Gold:
    283
    Vouch Thread:
    Click Here
    Discord Username:
    Diamonds#7813

    Roses Forum Addict

    Depositing $20,000 + in a bank?

    Are you trolling? Cause it's really none of their business.

    @Loyal 2 da game thank you

    looking for other opinions !
     
  9. Unread #5 - Dec 16, 2019 at 10:51 PM
  10. Lean
    Joined:
    Feb 22, 2012
    Posts:
    4,672
    Referrals:
    1
    Sythe Gold:
    67
    Detective Trole Pool Shark Le Kingdoms Player Member of the Month Winner

    Lean Grand Master
    leanbean901 Donor Retired Global Moderator

    Depositing $20,000 + in a bank?

    No, I'm not trolling. They're going to ask you where the money came from. Go find out for yourself.
     
    ^ MAGZ and Money like this.
  11. Unread #6 - Dec 16, 2019 at 11:32 PM
  12. MohtasaUnique
    Joined:
    Sep 1, 2007
    Posts:
    6,234
    Referrals:
    2
    Sythe Gold:
    145
    Discord Unique ID:
    158831078964985856
    Discord Username:
    MohtasaUnique
    Christmas 2015 Potamus

    MohtasaUnique Pour out a little liquor for the dead homies
    Retired Global Moderator

    Depositing $20,000 + in a bank?

    This is not true whatsoever, it is their business. Banks aren’t YOURS, they’re trusted establishments that hold your money but are also bound by federal regulations that prevent money laundering, tax fraud, and theft.

    Whether they ask you or not is a matter of policy for the bank in question, but they’re well within their right to ask. I suspect you already know this, since you’re asking the question if they will or not.
     
    ^ MAGZ, Money and JSand like this.
    Last edited: Dec 16, 2019
  13. Unread #7 - Dec 16, 2019 at 11:57 PM
  14. Trey
    Joined:
    Nov 19, 2005
    Posts:
    961
    Referrals:
    0
    Sythe Gold:
    1,251
    Vouch Thread:
    Click Here
    Discord Username:
    Trey
    Purugly Swellow Tangrowth Venomoth Staryu Pikachu Lairon Who did this to my freakin' car! Hell yeah boooi Friendship is Magic
    Why can't I hold all of these feels? TOKI! AM'S YOU WEARINGS MY PANTS? Green Finger Torchbearer 2016 Rakashrug Hoover (9) Easter 2013 Easter 2019 (2) Easter 2020 (2) Valentine's Day 2016
    Valentine's Day 2018 Valentine's Day 2019 Valentine's Day 2020 Christmas 2018 Christmas 2019 (2) St. Patrick's Day 2019 St. Patrick's Day 2020 Halloween 2015 Halloween 2019 Summer 2019

    Trey Apprentice
    $500 USD Donor

    Depositing $20,000 + in a bank?

    If it's cash and you are in the US then they will do a currency transaction report for anything $10,000+. It's related to the tracking of money laundering. They may not ask too many questions if you already have an account with them because they'll likely already have all the info they need such as occupation, SSN, birthday, etc.

    Currency transaction report - Wikipedia
     
    ^ JSand likes this.
  15. Unread #8 - Dec 17, 2019 at 12:02 AM
  16. Brad Kelly
    Joined:
    Jun 13, 2019
    Posts:
    85
    Referrals:
    0
    Sythe Gold:
    85

    Brad Kelly Member

    Depositing $20,000 + in a bank?


    This, one deposit now and one next month would save you a lot of potential headache. At the end of the day its the bank's discretion and results vary greatly.

    I have had bank workers straight interrogate me over large deposits and some are cool with a simple explanation. Not worth the hassle.
     
    Last edited: Dec 17, 2019
  17. Unread #9 - Dec 17, 2019 at 5:42 AM
  18. JSand
    Joined:
    Nov 3, 2013
    Posts:
    1,494
    Referrals:
    0
    Sythe Gold:
    2,041
    <3 n4n0 Wait, do you not have an Archer rank? (2) Potamus Pokémon Trainer Easter 2019 Sythe's 10th Anniversary Spam Forum Participant Two Factor Authentication User Heidy Lawrence

    JSand Guru
    $50 USD Donor New

    Depositing $20,000 + in a bank?

    Anything above $10,000 in cash and they are legally required to complete a CTR (currency transaction report) unless you’re exempt. They are SUPPOSED to question you in order to properly complete the form however many don’t and just fill out the form with their own explanation of the source of the funds.

    1 CTR isn’t going to trigger much of anything so don’t be too worried.

    Do not try to do what many idiots do and structure the deposit. (Make multiple deposits below the CTR threshold) This is more suspicious and would/could trigger a suspicious activity report which may cause an investigation.
     
    ^ POPEYES likes this.
    Last edited: Dec 17, 2019
  19. Unread #10 - Dec 17, 2019 at 6:09 AM
  20. Sound
    Joined:
    Feb 23, 2018
    Posts:
    1,486
    Referrals:
    1
    Sythe Gold:
    2,880
    Vouch Thread:
    Click Here
    Discord Unique ID:
    546603616518012939
    Discord Username:
    SOUND#0001
    Two Factor Authentication User Poker Chip Lawrence Extreme Homosex Gohan has AIDS <3 n4n0 (3) Potamus

    Sound Safe & Sound ~ Discord: SOUND#0001
    Sound Donor

    Depositing $20,000 + in a bank?

    This depends heavily on where you're located. The fact nobody has pointed that out is strange to me.
    Nobody can answer this for you. Call the bank and ask.
     
    ^ POPEYES and Liam like this.
  21. Unread #11 - Dec 17, 2019 at 9:58 AM
  22. Dunworry
    Joined:
    Jul 15, 2014
    Posts:
    29,264
    Referrals:
    203
    Sythe Gold:
    1,298
    In Memory of Jon Former OMM Dragon Claws

    Dunworry Reality is perception
    Retired Global Moderator Dunworry2 Donor

    Depositing $20,000 + in a bank?

    In the US any deposit of $10K+ is tracked and sent to the IRS I believe? I’m not sure to the extent I just know it’s 10K
     
    ^ HNCdice likes this.
  23. Unread #12 - Dec 17, 2019 at 10:45 AM
  24. Loyal 2 da game
    Joined:
    Jan 5, 2006
    Posts:
    4,685
    Referrals:
    0
    Sythe Gold:
    667
    Two Factor Authentication User

    Loyal 2 da game Formerly known as Loyal To The Game

    Depositing $20,000 + in a bank?

    bear in mind I am in Canada, may be different here. Maybe my local bank branch sucks. The teller I always seems to get is a moron. Still, they literally never ask
     
  25. Unread #13 - Dec 17, 2019 at 1:05 PM
  26. Money
    Joined:
    Feb 16, 2018
    Posts:
    791
    Referrals:
    0
    Sythe Gold:
    1,375
    Discord Unique ID:
    536006977277526017
    Discord Username:
    Pakora#2771
    Christmas 2019 St. Patrick's Day 2020 Easter 2020 Easter 2019 St. Patrick's Day 2019 Tier 1 Prizebox Valentine's Day 2019 Two Factor Authentication User

    Money Previously known as Pakora
    $200 USD Donor New

    Depositing $20,000 + in a bank?

    They're supposed to question you. The amount depends on country, but 20k would be screened at pretty much every bank unless you're exempt or they're just neglecting the system.

    Regardless, there shouldn't be an issue unless you've constant low inflow/outflow with low net worth, and you suddenly pop up with 20k cash.
     
  27. Unread #14 - Dec 17, 2019 at 6:17 PM
  28. Luvers
    Joined:
    Jul 24, 2019
    Posts:
    411
    Referrals:
    2
    Sythe Gold:
    937

    Luvers Forum Addict

    Depositing $20,000 + in a bank?

    Nobody will care. This is not the kind of money a bank will pay much attention to.

    Pay your taxes and you will fine.

    Also, this is a pretty silly way to manage 20k. I'd put this in a vanguard s&s ISA in a global index tracker.

    Open a high interest savings account and put aside 5-10k as a emergency fund to be safe.
     
  29. Unread #15 - Dec 17, 2019 at 7:20 PM
  30. Fyrix
    Joined:
    Mar 12, 2017
    Posts:
    23,759
    Referrals:
    43
    Sythe Gold:
    4,784
    Vouch Thread:
    Click Here
    Discord Unique ID:
    574588629343797257
    Discord Username:
    rpgstock#0777
    Toast Wallet User Two Factor Authentication User SytheSteamer Dragon Claws Lawrence (2) Easter 2020 Hoover St. Patrick's Day 2020 Extreme Homosex
    Homosex Tier 1 Prizebox (2) Nitro Booster (2)

    Fyrix Selling RSGP [CRYPTO - Zelle - PayPal]
    $200 USD Donor New

    Depositing $20,000 + in a bank?

    Banks are required to question you if you do 10K + deposit for regulations. If you do lower amounts to avoid that, its called structuring.
     
    Last edited: Dec 17, 2019
  31. Unread #16 - Dec 17, 2019 at 11:58 PM
  32. Alexandre
    Joined:
    Nov 19, 2018
    Posts:
    3,277
    Referrals:
    122
    Sythe Gold:
    85,742
    Vouch Thread:
    Click Here
    Discord Unique ID:
    322771938579578887
    Discord Username:
    ALEX#7316 (ALL CAPS)
    Articuno Moltres Zapdos Aerodactyl Blastoise Venusaur Charizard Charmeleon Charmander Pikachu
    Mewtwo Venomoth Chansey Nidoking Nidoqueen Scyther Alakazam Ponyta Rapidash Raichu
    Tier 1 Prizebox Tier 2 Prizebox Tier 3 Prizebox Tier 4 Prizebox Seadra Kingdra Spearow Fearow Weedle Dragonite

    Alexandre I failed my way to success.
    Alexandre Donor

    Depositing $20,000 + in a bank?

    I dropped in 13k earlier this year because I wanted to pay off my car with it. (I sold my btc for straight cash to someone). They simply asked where the money came from (I said from my house) and then verified if I still worked at the same job etc. Been fine but I guess my high salary from my job made it so they didn't care. I'm too scared to go and deposit more atm, waitting for next year and trying my best to pay all my expenses with cash atm.

    If you wanna avoid taxes on it, best bet is probly to stop touching your paychecks and pay everything with that cash. (groceries, gas, night outs, I can even pay my houses taxes with cash every 3 months lol)

    If your money is in Paypal, you should sell it to some traders for 95% for cash in hands, few big guys on here do it.

    Keep me updated this always interests me
     
    ^ Roses likes this.
    Last edited: Dec 17, 2019
  33. Unread #17 - Dec 18, 2019 at 8:27 AM
  34. Roses
    Joined:
    Aug 6, 2018
    Posts:
    308
    Referrals:
    0
    Sythe Gold:
    283
    Vouch Thread:
    Click Here
    Discord Username:
    Diamonds#7813

    Roses Forum Addict

    Depositing $20,000 + in a bank?

    Lots of good information thank you everyone.
     
  35. Unread #18 - Dec 20, 2019 at 4:02 PM
  36. Theboatyfozi
    Joined:
    Aug 5, 2019
    Posts:
    3,835
    Referrals:
    1
    Sythe Gold:
    722
    Vouch Thread:
    Click Here
    Discord Unique ID:
    670600290587770900
    Discord Username:
    fozi#3750

    Theboatyfozi Click Here To Buy 1 Def Pures

    Depositing $20,000 + in a bank?

    yes bro for sure they gonna ask you , 20,000$ not a small amout... gl
     
    ^ MAGZ likes this.
  37. Unread #19 - Dec 22, 2019 at 9:26 AM
  38. GudMe
    Joined:
    Dec 29, 2014
    Posts:
    210
    Referrals:
    0
    Sythe Gold:
    351
    Discord Unique ID:
    495360596431339530
    Discord Username:
    GudMe#5328
    Baby Yoda Two Factor Authentication User Heidy Potamus

    GudMe Previously known as 3gud5me
    $25 USD Donor New

    Depositing $20,000 + in a bank?

    Hey,

    If you dont mind me asking... cash in hand as in bitcoin or meet face to face? Thanks for the information.
     
  39. Unread #20 - Dec 22, 2019 at 11:45 AM
  40. Alexandre
    Joined:
    Nov 19, 2018
    Posts:
    3,277
    Referrals:
    122
    Sythe Gold:
    85,742
    Vouch Thread:
    Click Here
    Discord Unique ID:
    322771938579578887
    Discord Username:
    ALEX#7316 (ALL CAPS)
    Articuno Moltres Zapdos Aerodactyl Blastoise Venusaur Charizard Charmeleon Charmander Pikachu
    Mewtwo Venomoth Chansey Nidoking Nidoqueen Scyther Alakazam Ponyta Rapidash Raichu
    Tier 1 Prizebox Tier 2 Prizebox Tier 3 Prizebox Tier 4 Prizebox Seadra Kingdra Spearow Fearow Weedle Dragonite

    Alexandre I failed my way to success.
    Alexandre Donor

    Depositing $20,000 + in a bank?

    Meet the person yeh, for these big amounts its worth it, even if they keep 5%, alot better then giving 40% to the government during taxes
     
    ^ Ronin and MAGZ like this.
< Whats the only way to avoid chargebacks? | What happens when a "trusted seller" quits ? >

Users viewing this thread
1 guest