Want to transfer 25k?? Best way to avoid flags?

[user3657]

For a petty $200 (discover bank bonus) I want to transfer 25k to a different bank account. What are the flags I need to be aware of? 1k, 10k?

[degsey69]

Any transfer transaction over 10K will be flagged, a number of smaller transfers would be better.

[user3657]

Actually I've been doing some reading and it seems like banks are required to add up cash deposits over a year and if it's 10k it needs to be reported. That's straight from the IRS website:(

However ACH transfers are not required to be reported because that's
Already trackable, but does the withdrawal cause any activity?

[Hank]

Originally Posted by user3657

Actually I've been doing some reading and it seems like banks are required to add up cash deposits over a year and if it's 10k it needs to be reported. That's straight from the IRS website:(

However ACH transfers are not required to be reported because that's
Already trackable, but does the withdrawal cause any activity?

That's my understanding too, kinda similar to the Money Laundering Regulation is the UK/EU.

The general explanation is the size of the transfer is effectively irrelevant to the receiving bank, they are legally allowed to assume that the sending bank has done its due diligence on the source of the funds.

Same as buying a car, wire the money and the dealership wont bat an eyelid, source of monies is not their problem, drop $150k in cash on the table and they've got to ask questions.

Anyway, I doubt there's any red flags for a routine transfer, particularly for relatively modest amount of money.

[agent006140]

Some banks restrict $5k per transaction,some do not.(CFG bank)
Big banks are fine

FYI
https://www.thegatewaypundit.com/202...n-shop-owners/

Originally Posted by Hank

What on earth has a coin collectors Bank deciding to close their account got to do with anything!

Did you mean to send this link to Nigel Farage?

You're a strange character.

just for your FYI,you want every post tailored to your needs,go elsewhere

OP should know where his fund comes from and if there is any problem,he would know better,

Originally Posted by Hank

Kind of a silly reply on a specialised forum of any kind.

But I guess it's the logic I would expect from you.


Here's a suggestion, if you want to post unconnected spam why don't you go elsewhere, indeed I think Aspkin even created an 'everything else' section just for you.

I dont have to do anything you suggest,you can always block me,what is your problem??

[rsot]

there is a difference between wire transferring large amounts vs. physical deposits - wire transferring won't cause that much problem because the money is already in the system and has had "due diligence' like Hank indicated

[murdered_by_ebay]

if it is in the US then civil forfeiture is the biggest risk , this is when money is seized without any proof of wrongdoing and without due process in court

this is a very interesting part of the american democracy where with money you are considered to be guilty until you prove you are innocent

for that reason what is decisive with 25K is the origin and that determines the way to send

[JamesNorth101]

Originally Posted by murdered_by_ebay

if it is in the US then civil forfeiture is the biggest risk , this is when money is seized without any proof of wrongdoing and without due process in court

this is a very interesting part of the american democracy where with money you are considered to be guilty until you prove you are innocent

for that reason what is decisive with 25K is the origin and that determines the way to send

Dam I didn't know that....

[Hank]

Originally Posted by JamesNorth101

Dam I didn't know that....

you wouldn't because they're wrong and has nothing to do with inter-bank transfers.

"In the United States, civil forfeiture (also called civil asset forfeiture or civil judicial forfeiture)[1] is a process in which law enforcement officers take assets from people who are suspected of involvement with crime or illegal activity without necessarily charging the owners with wrongdoing."

[murdered_by_ebay]

there are lots of cases where balances were seized directly from banks , the reason may be anything , for example multiple transfers of just below 10K

this applies to anything financial , property , cash , bank , stocks etc.

[degsey69]

If there is no urgency for the money just set up an ACH to the other account over a few months, that will not be reported.

[rsot]

Originally Posted by murdered_by_ebay

there are lots of cases where balances were seized directly from banks , the reason may be anything , for example multiple transfers of just below 10K

this applies to anything financial , property , cash , bank , stocks etc.

i think you should stop this fear tactic - i know of civil forfeiture and it doesn't just happen without subpoenas etc

[Hank]

Originally Posted by rsot

i think you should stop this fear tactic - i know of civil forfeiture and it doesn't just happen without subpoenas etc

Whist I agree with your first comment, they do seem to post a lot of 'fear tactic' gibberish, much of which is completely unconnected with the initial question (take this thread as an example), your are wrong on the second part. They do not need a subpoena, there has been several high profile cases where law enforcement have simply taken money from folk because they felt it might be crime related without any meaningful evidence...or in some cases they're simply butt hurt or on some power trip.

Like this one...

Watch Cops Seize Combat Vet's Life Savings [RARE FOOTAGE] - YouTube

Watch Cops Seize Combat Vet's Life Savings [RARE FOOTAGE] - YouTube

[murdered_by_ebay]

Originally Posted by rsot

i think you should stop this fear tactic - i know of civil forfeiture and it doesn't just happen without subpoenas etc

they do not need subpoenas , in the US any large amount of money can be seized , they can catch you with 10K cash and just take it if they want

if you want it back you need to go to court which is gonna cost $$$

this is not limited to cash though

[degsey69]

Unfortunately in the USA traveling with large amounts of cash and stopped by the police can lead to having the cash seized if they feel like it is proceeds of crime. It costs to get it returned through the courts.

[Hank]

Originally Posted by agent006140

FYI
https://www.thegatewaypundit.com/202...n-shop-owners/

What on earth has a coin collectors Bank deciding to close their account got to do with anything!

Did you mean to send this link to Nigel Farage?

You're a strange character.

[rsot]

Originally Posted by Hank

Like this one...

Watch Cops Seize Combat Vet's Life Savings [RARE FOOTAGE] - YouTube

Duly noted.

[Hank]

Originally Posted by agent006140

just for your FYI,you want every post tailored to your needs,go elsewhere

Kind of a silly reply on a specialised forum of any kind.

But I guess it's the logic I would expect from you.


Here's a suggestion, if you want to post unconnected spam why don't you go elsewhere, indeed I think Aspkin even created an 'everything else' section just for you.

[ebaystealth1974]

Originally Posted by rsot

i think you should stop this fear tactic - i know of civil forfeiture and it doesn't just happen without subpoenas etc

Yes it does. They will take cash ON THE SPOT in the usa, if they feel it's necessary. Then you have to PROVE it's innocence.

[ebaystealth1974]

Originally Posted by murdered_by_ebay

if it is in the US then civil forfeiture is the biggest risk , this is when money is seized without any proof of wrongdoing and without due process in court

this is a very interesting part of the american democracy where with money you are considered to be guilty until you prove you are innocent

Yes, that's some scary sh1t here in the US. Has happened to several people I know. Even local businesses in the past.

[ebaystealth1974]

Originally Posted by degsey69

Any transfer transaction over 10K will be flagged, a number of smaller transfers would be better.

In the US, they will get you for an ACTUAL crime called Structuring, if they feel you are trying to purposely evade the 10k+ reporting law.

[BlackLion]

Originally Posted by ebaystealth1974

Yes it does. They will take cash ON THE SPOT in the usa, if they feel it's necessary. Then you have to PROVE it's innocence.

This happens A LOT in the States. Most of the time, the individual will pay more in fees attempting to prove they earned the funds legally, that It's not worth fighting for the money anymore. Also, if you're "carrying" the money, and they feel you don't deserve the funds for whatever reason, they'll take it on the spot. You have to be careful.