Thursday, December 8, 2011

Depositing/Withdrawing a lot of Cash Red Flags?

Hi guys i have a question. I withdrew a lot of money within a few months period. I probably withdraw like $700 every few days from the atm machine and did it for like 2 months. I had also withdrawn a few times $2000 and $3000 as well. So at the moment, I have around $15,000 in my home at the moment.





Is it true that if you withdraw $10,000, then a Suspicious Activity Report will be shown for you? Or is this only for cash DEPOSITS as oppose to withdraws. The thing was i did many withdraws for around $800. The thing is right now i'm going to deposit around $9,000 back into my checking account. This was pretty much the same money that i withdrew a few months ago.





The thing about me is i have NEVER deposited cash ever into my checking account in my life. I have done many bank transfers and deposited checks into my checking account but not once deposited cash. Would it be a bad idea to deposit this entire amount at once? The thing is i don't want any SAR filed for me but would it be a bad idea to just deposit this slowly back into my checking account? Would it be safer to deposit say $1000 every week or so? I heard something like if you deposit $9000 one day and then $9000 the next day, it will get flagged.





And is there a way to ever know if my bank ever filed a SAR on me? I recalled there was one time i got asked for id when withdrawing from the teller but the thing was it was a bit over $3000 i recalled. The times that i withdrew under $3000 at a teller, they never asked me for it.





Do people ever face any scrutiny if they deposit under $1000 like once every 2 weeks or so then? I feel like i'm in a bad situation because i withdrew so much money a few months back from the ATM and did it so many times.|||The Suspicious Activity Reports are for those deposit/withdraws/wire transfers over $10,000 in personal accounts. I think it is odder to have made so many withdraws and just leave the cash sitting around the house, at least you could have put it in an interest bearing account if you would not miss the money from your checking account.

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