If only that were true. The instant you put it in a bank it is their money. At that point you became an unsecured creditor to the bank. They are obligated to give that amount back if they are solvent, and they get to ask you all kinds of questions that their gov regulators believe they should ask.
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Bank demands proof what money to be used for before withdrawal.
- Thread Starter U201491
- Start date
If only that were true. The instant you put it in a bank it is their money. At that point you became an unsecured creditor to the bank. They are obligated to give that amount back if they are solvent, and they get to ask you all kinds of questions that their gov regulators believe they should ask.
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The only reason we have large CD holdings and some cash in the bank is we inherited, and are soon to build our dream home. Just hope the baling wire and 100 MPH tape keeps this system together that long
Us too - adding liquidity on an ongoing basis to find and build East. I plan on downsizing IRA (and taking the hit) as additional funds are needed. Off the grid and out of the system to the extent possible (which will never be 100% by any means) is the goal. (That lifestyle change would be wonderful even if the system doesn't do a major collapse.) The bailing wire and tape needs to hold together until that is done though.
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Well, they can ask any question they like do they really have anyway of knowing if I'm telling them the truth when I answer?
"What are you going to do with this money?"
"I'm going to buy a car" (and by "car" I really mean machine gun and ammo, lots and lots of ammo)
"What's your profession?"
"I marry well" I'm a brain surgeon.
"What are you going to do with this money?"
"I'm going to buy a car" (and by "car" I really mean machine gun and ammo, lots and lots of ammo)
"What's your profession?"
"I marry well" I'm a brain surgeon.
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I like yours better.
I am going to steal it - less likely to get me in trouble.
Seriously, I really doubt I will have problems. My credit union has never given me problems before. I believe that the laws haven't changed, some financial institutions have just got some new managers of compliance who changed their internal policies.
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if my job interview goes well and I manage to get a job....I'm definitely just cash paychecks and leave very little in my bank account.
EDIT: I get SSI because of my deafness, and I get it direct deposit electronically each month..though I write checks for rent and bills and cash out the rest, always left very little in the account to prevent exactly this sort of crap.
EDIT: I get SSI because of my deafness, and I get it direct deposit electronically each month..though I write checks for rent and bills and cash out the rest, always left very little in the account to prevent exactly this sort of crap.
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IF I ever get enough money to actually worry about how much I can withdrawl at one time I'm going to be all over this story like white on rice. I'm serious!!!
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"Why do you need this money?"
"Warren called, he said to send lawyers guns and money."
"Warren called, he said to send lawyers guns and money."
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- Thread Starter
- #31
It's 10K so at 9999.99 and below they are not required to.
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Well this is bad, but not as bad as the Fed actually warning people that it may be necessary for banks to have an 'extended Holiday' at some point if there is some 'unforeseen national event.'
The fractional reserve banking system exists only because people are ignorant to the fact that it is a complete scam. Money/debt created out of thin air to financially enslave the masses.
ABC Bank gets 'money' from the private Fed at 1% - sometimes less, who really knows - no audit - then gives you a Visa card and charges you 15% interest, fees, late charges, you name it.
No mobster has ever had it so good.
But because we've been taught since infancy that banks are safe, secure, and always looking out for us we trust them. Big mistake. Pirates and crooks.
I run a small company and I have little choice but to work with banks but as marginally as possible. They believe any funds are THEIRS, not yours. When the days comes where they are given the legal ability to lock you out while the dollar turns to dust via hyperinflation, they will. Count on it. If something can be stolen away from you via strokes from a keyboard, it will be.
Most people here already know about the banks and money creation, but for those who don't, and care to know, this ten minute video sums it up pretty well.
The fractional reserve banking system exists only because people are ignorant to the fact that it is a complete scam. Money/debt created out of thin air to financially enslave the masses.
ABC Bank gets 'money' from the private Fed at 1% - sometimes less, who really knows - no audit - then gives you a Visa card and charges you 15% interest, fees, late charges, you name it.
No mobster has ever had it so good.
But because we've been taught since infancy that banks are safe, secure, and always looking out for us we trust them. Big mistake. Pirates and crooks.
I run a small company and I have little choice but to work with banks but as marginally as possible. They believe any funds are THEIRS, not yours. When the days comes where they are given the legal ability to lock you out while the dollar turns to dust via hyperinflation, they will. Count on it. If something can be stolen away from you via strokes from a keyboard, it will be.
Most people here already know about the banks and money creation, but for those who don't, and care to know, this ten minute video sums it up pretty well.
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PLEASE take the time to watch this and share it!
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"what are you gonna do with this much money?"
"buy a gaggle of midgets and start a chocolate factory..."
"buy a gaggle of midgets and start a chocolate factory..."
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It is $10K, but even if you are close to that amount they report it nonetheless. They also report it if there are a number of transactions that add up to $10K. They aren't so stupid as to say they should ignore the transaction if it is one cent under $10K or there are 4 $2500 transactions in a row.
Anything the financial institution considers "suspicious" they are supposed to report.
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I had that credit union. Walked in and asked to withdraw about $5K in cash. They teller got snippy and demanded I call ahead and make arrangments for "large" cash withdrawls. I asked for the manager and after some mild drama, I asked for ALL my money and took it to a proper bank.
Spreading the wealth start with denying you access to your wealth and then stealing it from you. Keep voting for people like Obama and your wealth with disappear sooner rather than later
Spreading the wealth start with denying you access to your wealth and then stealing it from you. Keep voting for people like Obama and your wealth with disappear sooner rather than later
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This is totally different. Small banks and C/U's often don't have lots of cash on hand. I have ran in to this more times than I can recall but it is easy to give them a heads up.
As far as the "Banks demand proof" Er... Inquire what what you plan on doing with large withdraws is invasion and if one of my banks or C/U start this BS I will have to do more home banking.
USPS has monitored and recorded transactions 10k and over for a long time now.
- Thread Starter
- #38
Most credit unions don't have large amounts of cash and usually need a days notice to get it.
At least they don't give you the third degree and act like they have to approve of what you buy.
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I don't mind that they don't usually have that much cash on hand. And even if I need it with little notice, they gladly give me a cashiers check which I can then use at the bank down the street. I knew that before I opened the account.
No bank I have ever used gave me the 2.5% interest rate on up to $25K in my checking account. Hell, they won't do that for savings either. My CU does.
What I *don't* want them doing is asking what I am using my money for.
I had BECU do that, and a week after I told them I was buying a truck they started sending me all kinds of SPAM wanting to sell me a car loan.
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My father and I have talked about this..
We came to the conclusion that perhaps money might not be well kept in a bank but rather a minimum amount and the rest in cash or invested in hard/physical food, water, protection type of assets.. Some gold or silver.
We talked about the government/banks seizing the money or taxing tye money in peoples savings accounts like in our 401k and IRA.. And what may come of that.
Just wait.. Other countries arent going to purchase our bonds and we wont be able to pay off the minimum interest of our loan/debt and itll all collapse, but before that theyll raid 401s, IRAs and savings accounts.. Wait and see.
We came to the conclusion that perhaps money might not be well kept in a bank but rather a minimum amount and the rest in cash or invested in hard/physical food, water, protection type of assets.. Some gold or silver.
We talked about the government/banks seizing the money or taxing tye money in peoples savings accounts like in our 401k and IRA.. And what may come of that.
Just wait.. Other countries arent going to purchase our bonds and we wont be able to pay off the minimum interest of our loan/debt and itll all collapse, but before that theyll raid 401s, IRAs and savings accounts.. Wait and see.
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