How to Carry Cash to the Bank

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Cardboard box.
Hey, it worked for hundreds of thousands of coins.

gobigorgohome said:   Depending on how much cash, I would only carry "at most" $9999 to deposit each time.I can't believe people are this dumb. There is nothing wrong with depositing >$10k in cash... I do it all the time. But if you're structuring deposits to avoid reporting requirements, you are undoubtedly going to get flagged... big time.

Crazytree said:   gobigorgohome said:   Depending on how much cash, I would only carry "at most" $9999 to deposit each time.I can't believe people are this dumb. There is nothing wrong with depositing >$10k in cash... I do it all the time. But if you're structuring deposits to avoid reporting requirements, you are undoubtedly going to get flagged... big time.

If you do 10k deposits once a month or so, no big deal. If you have unreported $$ to deposit every week or so, it does get flagged. 15k a week of cash is a little weird.

ZenNUTS said:   LordB said:   I'm rather confused how credit card offers result in large piles of $20s. Does anyone get how this is supposed to happen?

Maybe the OP took FW's advice and invested his profits in H&B.
so has anyone figure out what OP is talking about yet?

Guess he's somehow buying prepaid AMEX/visa/mc cards with his cc. Maybe at the supermarket? Or he's a troll.

This is a question I've had for a while but didn't want to make a thread.

For those who do all of their banking online how do you guys deal with cash? I really want to quit my B&M bank altogether but can't since I still need their ATM to deposit cash. Anyone have a work around?

Medikit said:   This is a question I've had for a while but didn't want to make a thread.

For those who do all of their banking online how do you guys deal with cash? I really want to quit my B&M bank altogether but can't since I still need their ATM to deposit cash. Anyone have a work around?


Could you purchase a money order with the cash and send it in as a deposit? I hope that does not sound dumb, but I have not dealt with money orders much. Other than that I do not see a way to get cash into the account, unless it accepts deposits at the machines.

alamo11 said:   Crazytree said:   gobigorgohome said:   Depending on how much cash, I would only carry "at most" $9999 to deposit each time.I can't believe people are this dumb. There is nothing wrong with depositing >$10k in cash... I do it all the time. But if you're structuring deposits to avoid reporting requirements, you are undoubtedly going to get flagged... big time.

If you do 10k deposits once a month or so, no big deal. If you have unreported $$ to deposit every week or so, it does get flagged. 15k a week of cash is a little weird.
Nobody cares about unreported income... if you're hauling major unreported income the dumbest thing you could possibly do is deposit the cash. Nobody with any level of sophistication is ever going to do that.

What they're EXTREMELY worried about is money laundering... especially of foreign drug or terrorist money. Great article in the WSJ last week about money laundering by Macau-based gambling junket organizers in Las Vegas.

Just ask the teller to put all the cash into an unmarked envelope. Be sure to say things like, "And no funny business, either!"

wow ...i want know those too.

I hired a body double to go to a different bank at the same time as me on the other wide of town. Anyone posted on my house waiting for me to leave will see my double, follow him, while I leave through an underground tunnel going out the other side.

It worked well for years but he started an affair with my secretary and my wife sees the way my secretary looks at me (because she thinks I'm my double, since neither my wife nor my secretary know I have a double) and thinks I am cheating on her.

My double enjoys motor boats and had an accident where he lost some fingers so I had to cut the same fingers off too in order to maintain the illusion.

Some here may say that I'm paranoid, however I frequently travel to he bank with several hundred dollars cash at a time and I don't want to be the target of professional robbers.

Wise guys always keep their money in a roll, beaner on the outside.

A $20 bill (or any U.S. bill) is 0.043 inches thick. That means that a stack of 232 bills will only be an inch thick. (Any bills coming OP gets out of an ATM can't be too folded or wrinkled, or else they wouldn't feed properly.)

So, as long as you limit your deposits to at most $4,640 at a time, you're talking about a stack less than a inch thick. So, stuffing it in a pocket would work to conceal it.

ThePessimist said:   A $20 bill (or any U.S. bill) is 0.043 inches thick. That means that a stack of 232 bills will only be an inch thick. (Any bills coming OP gets out of an ATM can't be too folded or wrinkled, or else they wouldn't feed properly.)

So, as long as you limit your deposits to at most $4,640 at a time, you're talking about a stack less than a inch thick. So, stuffing it in a pocket would work to conceal it.


If he has two pockets, he could double it!

Not sure what the problem is here. Hell, in my day (2008), citi gave 5% back on everything, including coins from the mint! Those damn things are heavy, and one time, I tried to take 5000 of dollar coins to Bank of America, and they turned me away, claiming that they had no place to store them!

All you are carrying here is pieces of paper.

Why deposit it? Much safer keeping it in places nobody would suspect

Send me some money and your address, and I'll send you a nice bag to put the 20's in.


***Since I won a schwag bag on talk like a pirate day, I got a Scrooge McDuck canvas bank bag

http://www.fatwallet.com/static/i/uploaded/SCHWAG.jpg

I also have no idea how stacks of 20s accumulate from credit card bonuses, but I used to actually have this problem back when I played poker online. I cashed out to this ewallet called Neteller, which you could then in turn load on to a neteller debit card. The problem was they charged you to load the card, to withdraw from the card, and the ATM charged you as well. Every withdrawal costs $6 so I wanted to use the ATM that had the largest allowable withdrawals, which I found was $800 per transaction and $2500 per day at one bank near my house. I wasn't a member of that bank so I would have to drive it across town to my actual bank when I wanted to deposit.

This was what I did for a living for a couple of years back when I was 18-20 so it was a pretty frequent occurrence. I had one pretty big tournament score for 20k and spent a whole week grabbing stacks of 20s out of the ATM like this. Ahh those were the days, before congress came in and started banning stuff.

How much are we talking here? I'd guess you could carry at least $10k in your pockets in 20's. Otherwise, just put it in a duffel bag or something, and ask them if they have an office or someplace you can go to count it so it's not out for everyone to see.

They do look at you funny if you show up with large cash transactions at the bank, though.

awstick said:   I also have no idea how stacks of 20s accumulate from credit card bonuses, but I used to actually have this problem back when I played poker online. I cashed out to this ewallet called Neteller, which you could then in turn load on to a neteller debit card. The problem was they charged you to load the card, to withdraw from the card, and the ATM charged you as well. Every withdrawal costs $6 so I wanted to use the ATM that had the largest allowable withdrawals, which I found was $800 per transaction and $2500 per day at one bank near my house. I wasn't a member of that bank so I would have to drive it across town to my actual bank when I wanted to deposit.

This was what I did for a living for a couple of years back when I was 18-20 so it was a pretty frequent occurrence. I had one pretty big tournament score for 20k and spent a whole week grabbing stacks of 20s out of the ATM like this. Ahh those were the days, before congress came in and started banning stuff.


Didn't they have a free eft option?

valueinvestor said:   awstick said:   I also have no idea how stacks of 20s accumulate from credit card bonuses, but I used to actually have this problem back when I played poker online. I cashed out to this ewallet called Neteller, which you could then in turn load on to a neteller debit card. The problem was they charged you to load the card, to withdraw from the card, and the ATM charged you as well. Every withdrawal costs $6 so I wanted to use the ATM that had the largest allowable withdrawals, which I found was $800 per transaction and $2500 per day at one bank near my house. I wasn't a member of that bank so I would have to drive it across town to my actual bank when I wanted to deposit.

This was what I did for a living for a couple of years back when I was 18-20 so it was a pretty frequent occurrence. I had one pretty big tournament score for 20k and spent a whole week grabbing stacks of 20s out of the ATM like this. Ahh those were the days, before congress came in and started banning stuff.


Didn't they have a free eft option?


For an illegal transaction? (not that I agree with the law, but the workarounds using a neutral party were there for a reason) Look up RICO and it becomes obvious why all the other methods went away.

RedWolfe01 said:   valueinvestor said:   awstick said:   I also have no idea how stacks of 20s accumulate from credit card bonuses, but I used to actually have this problem back when I played poker online. I cashed out to this ewallet called Neteller, which you could then in turn load on to a neteller debit card. The problem was they charged you to load the card, to withdraw from the card, and the ATM charged you as well. Every withdrawal costs $6 so I wanted to use the ATM that had the largest allowable withdrawals, which I found was $800 per transaction and $2500 per day at one bank near my house. I wasn't a member of that bank so I would have to drive it across town to my actual bank when I wanted to deposit.

This was what I did for a living for a couple of years back when I was 18-20 so it was a pretty frequent occurrence. I had one pretty big tournament score for 20k and spent a whole week grabbing stacks of 20s out of the ATM like this. Ahh those were the days, before congress came in and started banning stuff.


Didn't they have a free eft option?


For an illegal transaction? (not that I agree with the law, but the workarounds using a neutral party were there for a reason) Look up RICO and it becomes obvious why all the other methods went away.


Completely off topic, but it's not illegal if online gambling isn't illegal in your state. This is a common misunderstanding of UIGEA. Read the text of it and you won't find anything defining "illegal gambling."

valueinvestor said:   RedWolfe01 said:   valueinvestor said:   awstick said:   I also have no idea how stacks of 20s accumulate from credit card bonuses, but I used to actually have this problem back when I played poker online. I cashed out to this ewallet called Neteller, which you could then in turn load on to a neteller debit card. The problem was they charged you to load the card, to withdraw from the card, and the ATM charged you as well. Every withdrawal costs $6 so I wanted to use the ATM that had the largest allowable withdrawals, which I found was $800 per transaction and $2500 per day at one bank near my house. I wasn't a member of that bank so I would have to drive it across town to my actual bank when I wanted to deposit.

This was what I did for a living for a couple of years back when I was 18-20 so it was a pretty frequent occurrence. I had one pretty big tournament score for 20k and spent a whole week grabbing stacks of 20s out of the ATM like this. Ahh those were the days, before congress came in and started banning stuff.


Didn't they have a free eft option?


For an illegal transaction? (not that I agree with the law, but the workarounds using a neutral party were there for a reason) Look up RICO and it becomes obvious why all the other methods went away.


Completely off topic, but it's not illegal if online gambling isn't illegal in your state. This is a common misunderstanding of UIGEA. Read the text of it and you won't find anything defining "illegal gambling."


According to the feds it is, due to regulation of interstate commerce. If you were wagering with an intra-state operation then you are fine, but for some odd reason (wonder what THAT one was) all these sites were located out of the US. When the courts starting restricting the Wire act we got UIGEA in response. Not being silly, the Fine Upstanding Citizens who wrote it went after the financial transactions instead. The Gambling is perfectly legal under federal law, sure. Getting the money other than in person or in-state? Not so much.

They left the third party processor as a loophole, most likely because there are so many other uses for it. Most of the common ones still opted out under government pressure, regardless of what it says in the act. (paypal, moneybookers, even Western Union, visa and MC put restrictions in place as well) Proving that they had heard the old adage about "the guy with the bat will keep swinging at you if he misses unless you get out of the way." "Designated Payment System" is the legal term, as I recall.

The act is only enforceable against the gambling providers by design.



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