Reply
Moderator
webhopper
Posts: 7,230
Registered: ‎09-16-2011

Re: Anyone see any risk here?


FrugalRican wrote:

webhopper wrote:
 Also the bank has procedures for making sure they aren't depositing illegal money. Nothing says illegal more than you walking in and depositing thousands in cash.... something to think about

They do, but it's not the act of depositing $11,000 in cash that makes it suspicious.

It's when you tell a person the "why" and then they decide they want to deposit $9,000 instead.

 

But I've seen plenty of people who sell a car, or property, or other things that make that one-time deposit and have a valid reason for doing so.

But I've also seen people who will deposit $9,990 each time and that's definite grounds for a Suspicious Activity Report, which is just as bad.


 

I saw a guy walk in with a duffle bag full of cash once. It made me very uncomfortable. Also was in line at electronics department and.witnessed a kid with a backpack full.of cash buying a video game system. The cash still had the white banding around each bundle.

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+