Comments on: Large and Shady Bank Transfers Are Reported

By: Nicki

Nicki — Wed, 09 Nov 2011 20:58:16 +0000

This is SO lame! Why would they (the bank) have to report any large withdrawals?? I can understand large DEPOSITS, but WITHDRAWALS? how did taking your own money out of the bank become so damn confusing and complicated?? I for one, am sick of the banks and much rather hold on to some cold, hard cash instead! But now reading all this, makes me wonder how I will be able to pull my OWN money out of the bank without having to worry about some lame form being filed against me? It’s my OWN hard earned money! what do they care how I spend it or for that matter, WHERE i choose to keep it?? Guess I’ll have to do numerous, spanned out withdrawals to stay under the radar!

By: Char113

Char113 — Tue, 20 Sep 2011 17:27:02 +0000

If I transfer 20k from my OWN online savings account to my OWN checking account, will this be reported? NOTE: My online savings account is a different bank than my personal checking account- thanks for any information that would be of help.

By: Rob

Rob — Wed, 23 Mar 2011 15:30:43 +0000

Can you ask a bank for a copy of any CTRs they filed? My bank says they rarely file when the customer is a regular. However, I read some bank’s computers will automatically do this.

By: LanaLove32

LanaLove32 — Sun, 13 Feb 2011 15:48:56 +0000

I got a saving account on hold that I haven’t used in 2 months,I am currently waiting for a wire transaction to hit my bank account that is somewhere over $10,000 would I need to worry about the bank reporting this wire transaction and do wire transaction bounce like money orders and checks,be reversed?

By: Tesa

Tesa — Thu, 15 Apr 2010 13:09:16 +0000

PS: I have 2 different accts..one for the house we owned together and one for the residence I’m living in now ( long story )..I split the deposit between those two accts in addition to the three different types of savings I have within each acct( checking, prefered, mint, it’s a bank thing . Now I’m seeing things on the internet about illegal “structuring”! How did making a deposit of my own money get so complicated?!

By: Tesa

Tesa — Thu, 15 Apr 2010 12:58:40 +0000

Do they file that form with a goverment agency and should I be expecting a call from that agencey?

By: Jim

Jim — Thu, 15 Apr 2010 12:31:08 +0000

Mostly nothing, it’s just a form they have to fill out.

By: Tesa

Tesa — Thu, 15 Apr 2010 11:57:42 +0000

I have the same question! I, along with someone I lived with for years, accumlated over $10,000 in cash over the years. He died recently, and I wasn’t comfortable holding on to that much cash so I deposited it yesterday. They took copies of my credit card,ID, asked questions..now I am worried! What happens now?

By: Investor

Investor — Tue, 23 Jun 2009 14:45:40 +0000

It’s sad that someone who even works at a bank truly believes that making multiple deposits under $10,000 to avoid the CTR reporting to the IRS is a crime. It’s not! And you shouldn’t be working in the banking business if you believe so. How is your customer service to people who are making multiple deposits when you are falsely accusing them of being criminals? Get smarter. Get an education. Be better informed.

By: jim

jim — Wed, 24 Dec 2008 13:36:51 +0000

It will most likely be reported to the government.

By: Mo

Mo — Wed, 24 Dec 2008 11:32:50 +0000

If someone deposits a larger sum of like ten million dollars from a bank transfer into their bank account, what will happen?

By: Anonymous

Anonymous — Sat, 11 Oct 2008 15:23:46 +0000

Does anyone know what the IRS/FinCEN does after they receive a report?
I just deposited a large sum of money, and am wondering if they’ll come after me at work or something with all these questions.

By: Anonymous

Anonymous — Fri, 02 May 2008 17:53:27 +0000

I just made a payment of $14,130.00 to my mortgage company
by using a personal check (no cash). Is this something that they
would report to the IRS?

By: JasonP

JasonP — Fri, 24 Aug 2007 19:51:59 +0000

Structuring is also not a crime, just another thing you could be written up for to be flagged (with a SAR instead of a CTR). Its not a crime to make multiple deposits instead of one big one, but it is something tellers look out for to write a SAR for. The SAR basically exists so that people making multiple deposits are written up the same way people making big deposits are. No two are a crime.

By: Tom

Tom — Thu, 23 Aug 2007 02:33:01 +0000

I’m not suggesting that. But to structure your deposits in order to avoid a CTR is a crime. And I do work at a retail bank currently. Not such a bad gig if you ask me.