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Bank Or Mattress???

Discussion in 'Non-Vegas Chat' started by RedRiverRose, Sep 11, 2021.

  1. RedRiverRose

    RedRiverRose VIP Whale

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    That is interesting, never got any $50's from an ATM. Here locally they give a couple hundreds and the rest in $20's which I hate. I like all hundreds and then I can break one right there at the ATM since they are bill breakers as well.
     
  2. Valgal

    Valgal VIP Whale

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    I rechecked my bank’s message. It states that they will have to report all inflows and outflows of any transactions over $600. Kind of vague wording.
     
  3. ngrund

    ngrund High-Roller

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    i think that is still only a proposed regulation-that would be so hard on the banks at that $600 level-especially in high cost areas like NY and CA
     
  4. 44inarow

    44inarow VIP Whale

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    It's probably just going to FinCEN, then, and 99% of those reports go in the circular file. If I take the $1k cash I have in my desk drawer to the bank, that's not remotely taxable income (and I say this as someone who's an advocate of reporting all income). And most major banks have a live feed to regulators. This is really just a recordkeeping thing.
     
  5. 44inarow

    44inarow VIP Whale

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    It's just reporting. Everything is electronic these days, so it's only a data feed. Depositing $600 on its own isn't going to be taxed, they're trying to get after eBay vendors and the like.
     
  6. bingoredfish

    bingoredfish Tourist

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    My bank asks the same thin. When I asked why they needed to know I was told they ask because of people getting scammed and to just say it’s for personal reasons, they will ask if anyone is forcing you to take the money out and just say no. I live in Florida and once they explained it to me, I understood.
     
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  7. Rookies11

    Rookies11 Low-Roller

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    For decades, I despised waiting in line in a Bank! A total waste of time and inevitably, always behind souls, poor in nature without ID or semi literate or old ladies (of either gender) with the change purse! The list was endless as a gritted my teeth and looked at my watch. So, I was delighted when Banking moved into the digital 21st. Century.

    Especially so- during Covid! Can’t recall, when I last used a cheque. NOBODY wants them. As Stone Age, as a Traveler’s Check.

    Today, my Banking is virtually 100% on line or at an ATM- if I need physical ca$h.
    * My Bank even offers HOME delivery of that and in Euros, as well as Yankee bucks.
    * ALL my monthly Bills are paid on line.
    * Anything new, is made via eTransfer.
    * As are money transfers to family or friends.

    Of course, EVERYTHING on my Investment side is digital or occasionally over the phone.

    Bank Manager?
    Meh.
     
  8. oghuman

    oghuman VIP Whale

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    I thought $50 bills funny. Why?
    I live in NYC and when I go to my local Chase branch to pick up a few thousand for my first day of my gambling trip I see people in front of me with piles of $100 bills either withdrawing or depositing. They’re business people just doing normal transactions. These tellers are accustomed to cash withdrawals and deposits.
    I guess withdrawal of that amount at a drive-in is
    rare. We don’t have drive-in bank windows anywhere near me. I’ve never in my life ever done that in NYC.
    BTW, all my transactions are also automatically paid online all my other except when I go to casino are online.
    I do have a LOC for any transaction of withdrawals after my one day bankroll is lost.
     
  9. daveg000

    daveg000 VIP Whale

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    I usually use the ATM inside my bank (Chase) to take out $3000 in 100's to add to the $1000, I normally carry. No fuss , If I need more in Vegas, there are plenty of Chase branches to use (we rent a car for our normal 2 week trip).

    The last trip in May I had the first time ever good experience of having to deposit $2500 in the Vegas bank, instead of drawing out, because I was carrying cash over what I was comfortable with after the first three days of the trip.

    I usually TELL my banker when I am going to Vegas, to raise the limit of withdrawals at ATMs temporarily, in case I don't want to run to the bank. For the account I have, Chase will cover the fees for 5 non Chase transactions a month. Very nice in Vegas, where fees can be upwards of $15.
     
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  10. mrem3200

    mrem3200 VIP Whale

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    I have had various reactions when withdrawing "large" amounts of cash for Vegas trips:

    Just yesterday, I went to get $8,000 for an upcoming trip. The teller first said she wasn't sure if they had that much, ultimately they did. She asked me for a drivers license to process the transaction but that was it.

    Last year, same bank, similar amount but a different teller she asked if I was doing anything fun with the money, I told her I was going to Vegas, she seemed disappointed and sighed and said "well I hope you don't lose it all". She didn't as for ID.

    The year before that, the teller went to get a manager, showed him something on the computer screen. The manager typed a few things into the computer and told me I was all set. They also did ask for ID.
     
  11. Timothy

    Timothy High-Roller

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    Why people can’t just answer politely like some say is beyond my belief. None of yer busnis!

    I always wonder if they visit the doctor like:

    “I’m in pain!”
    “Where are you hurting?”
    “NONE OF YOUR BUSINESS!

    :D

    Just tell the teller already. Not one reason not to tell, unless you like being a **** (fill in yourself).
    I was taught to give replies to the question politely and with a yes m’am/sir.
     
    4th time's a charm?
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  12. oghuman

    oghuman VIP Whale

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    I always give my ID when making a withdrawal at the teller. Why wouldn’t you already have it out to take thousands in cash? Wouldn’t you want that in the event someone else tried to withdraw your money.
     
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  13. Legion

    Legion Low-Roller

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    One of my banks is Key bank in Cleveland area. all I need is my atm card with my pin no ID needed
     
    Last edited: Sep 12, 2021
  14. dmr

    dmr Registered Abuser

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    A while back I was asked for ID when I reordered checks at the bank.

    I asked why and she said that scammers will try to order checks with a new/different address and then have access to the $$$.
     
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  15. Legion

    Legion Low-Roller

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    So much worry about CTR... The IRS doesn’t care if withdrawing seasoned money from your personal bank account..

    Tell the bank like I do it’s none of their business what you do with your money.

    I once was hassled at my local community bank for 25k..

    Called 3 days ahead to say I would be coming in to make withdraw.. Asked for 25k.. O no Mr.Lopez we can’t do that. I asked what they (for shit and giggles) can do. we can do 6500.. I replied can you please do 8500.. Put on hold.. Mr. Lopez we can do 8500.. At that point I said I’m not negotiating with you for my money... I’ll see Thursday at 9.. And I want to close my accounts.. Needless to say the bank manger called apologized and said anytime I want my 25k I can come down and get it.

    Long winded point.. Stand your ground, don’t worry about CTRs.. Hell you can get a CTR if you take a high school football team to longhorn and pay in cash..

    Answer to your question.. with interest rates banks are paying why would you leave any kind of capital at a bank?
     
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  16. mrem3200

    mrem3200 VIP Whale

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    That is the same with my bank, you need to swipe you ATM card and enter the PIN for any transaction with a teller. I guess asking for ID is added security but needing the ATM card and PIN is a pretty good first line of defense.
     
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  17. cjcjcj

    cjcjcj VIP Whale

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    Curious what bank delivers cash to your home?
     
    2022 First Escape
  18. RedRiverRose

    RedRiverRose VIP Whale

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    You were taught well and so was I and that is the reason I answered the teller politely however I was still shocked by the question and I am sure others have been or will be as well.
     
  19. Catzilla

    Catzilla VIP Whale

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    How about I have to bail "name" out of jail. Then see how long it takes for someone to ask that person what they got picked up for. :evillaugh:

    No, no...of course I would not do that. I think I'm making a purchase would suffice.
     
  20. thegov2k2

    thegov2k2 VIP Whale

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    Jimmy Buffett once wrote that his mentor once told him, "It takes no more time to be a nice guy than it does to be an asshole." I totally agree. Who gets hurt by just answering the question?
     
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