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I already have a Chase account. They don't accept wires and I've been advised not to deposit in my personal account, lest it be frozen. I guess my question is, is it safe to deposit checks or wire transfers once a month? Every other month? And how much or little should I deposit over the course of a year? 9K in checks looks like structuring, even if spaced out, no? I'm leery of withdrawing 10-20K all in one year.
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Sports_Rookie | 32 |
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What happened?
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steve224 | 8 |
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"...That's not actually true, the 10k rule is a hard rule requiring the bank to report the deposit, banks have their own rules and regulation on how to deal with "questionable" deposits even if its under 10k. No bank want to be named in some money laundering scandal.
Banks have software to detect patterns. Plenty of people have been investigated for making 9k deposits because of the 10k rule. If there is any signs of a irregular deposit pattern above your normal usage you will be flagged." ---- So what it the best way to deposit? I set up a new account at Citibank, but I don't know if depositing foreign checks is better or worse than receiving foreign wire transfers. And I don't know how I should space them. |
dollardream | 1 |
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What's the best way to take out 30K. I've lost 40K, won 30K, but can't file tax returns because it's via my parents. I don't want to take out checks for 2500 or bank wires for 5000 too often. I've opened a separate bank account for these transactions so as not to get my personal account frozen, but I'm also concerned about depositing foreign checks into a new bank. I deposited a 3K check some 10 years ago, and sure, one or two checks per year probably doesn't draw red flags. But do I keep it to just three or four checks for 2500? Or two bank wires for 5K? That sounds like structuring even if I deposit every other month.
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dollardream | 1 |
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What's the best way to take out 30K. I've lost 40K, won 30K, but can't file tax returns because it's via my parents. I don't want to take out checks for 2500 or bank wires for 5000 too often. I've opened a separate bank account for these transactions so as not to get my personal account frozen, but I'm also concerned about depositing foreign checks into a new bank. I deposited a 3K check some 10 years ago, and sure, one or two checks per year probably doesn't draw red flags. But do I keep it to just three or four checks for 2500? Or two bank wires for 5K? That sounds like structuring even if I deposit every other month.
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Sports_Rookie | 32 |
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