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Hello 👋 I’m Humphrey, I used to be a financial advisor, worked in gaming/tech, and started my own eCommerce business. I make practical, rational content on investing, personal finance, the news, and much more with a data-backed approach. My goal is to help you with financial literacy and creating wealth.
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Is that limited to cash?
Even traveling at the airport with lots of cash, the government will confiscate your money.
Yet the Somalis…….
Buy gold instead. Don't put substantial wealth in western banks. Look at what they did in Canada against covid protesters
如果交税了 也没有事的
As a busker, I would sometimes bring in $1000 in cash, and the banker informed me that they'd "have to report this." It was a bit unnerving.
what about if it’s a legit check from a life insurance company? our bank is telling us they will not allow us to deposit it into our checking acct which makes no sense to me bc we’d have to wait a week anyway. then they said their phone number isn’t on the check so it doesn’t count.
If you ask a teller about this, any amount will be reported because that is suspicious.
Nobody will get in trouble to bothering illegal money you
not if they are the ones who gave them to you , bro
You don’t get in trouble for depositing $10k. You just fill out a CTR.
Pay stubs will clear you
Is this a U.S. only thing?
10k in cash
Instead of taxing billionaires correctly, they go after the middle class for peanuts in tax revenue in comparison.
mind your own buisness comes to mind gov has to stop snooping on us
Orange baboon steals 3 mil a week for golf while you can’t even survive
Just buy a super heavy metal safe and put your money in there.
Used to work at a bank, brings back memories filling out CTR's
Just deposit it in 2 separate banks. Solved.
I’m so sick of government and banks
Here's a thought, just split it into 2 bundles of 5K and deposit into two different banks. Problem solved.
This is only for cash. Checks aren't flagged
Put it in a safe deposit box like the mobsters in Casino did. "Get-away money" 😊
There is actually no specific limit. We van raise an STR even for less than 10k if we have r3asonable cause to do so. Most employees dont do it because they hate to file the paperwork or dont know how.
I had $35,000 wired to me back in 2006 and my bank at the time, Washington Mutual, didn’t flag it and didn’t ask me any questions about it. I got lucky because I got that money from winning a sports bet that was from an offshore betting site in Costa Rica. I never reported it and never got taxed on it. It’s like I never had the money to begin with.
When I got fired from my freelance job, they owed me 85K, it was deposited into my paypal, then I transferred it all to my bank without issue. I don't remember if I had explained the source of income, I likely did.
Deposit into different accounts
It’s not illegal. Your transactions will get more scrutiny, but nothing is illegal. It’s your money after all. If not from illegal means, then you’re fine.
Any deposit over $3000
Don't put it in the bank. They will just make a reason to steal it from you. Just bury it in a waterproof box. Even if you could deposit it. That cash will just leave the bank. Then you will need their permission to withdraw it.
just buy a carwash and stuff the money in the cash register lol
this is shit
Why would somone launder money? If they can just buy gold
Spend it! Shop for food, gasoline. Deposit $1000 a month as needed to pay bills. Trickle it in.
Oh, good. Us poors don't have to worry about this.
Why do I have to explain to ghe government where my money comes from if they can just print unlimited money without asking citizens first?
The way things are going rn tho, it won't even be the next decade before the survivors of this economy will have to commit "structuring" just to make ends meets like rent or mortgage and foods and stuff lol
you can buy gold with the cash and put it in safe deposit. No need to explain 🙂
So what you're saying is that my money isn't mine.
Taxation is theft do not pay taxes