Money question…

[Dejashoot]

My Chase doesn’t like you pulling more than $10k at a time. You rich guys can just keep $50k in your gun safe and don’t worry bout it.

[Burnadell]

I've been in the banking business most of my life. I got my start as a fledgling entrepreneur running my own bank. My shop had an alley that was a direct route between the local wino's domicile and the liquor store. Many of them were always short of money before their next government check arrived. So it was a natural to get in the loan business. Loan them money at the end of the month and collect it at the first of the month before they spent it all.

Some of them tended to take a different route when their note was due. But eventually they always returned to their old habits. I happened to see one overdue client sneaking down the alley. I had been dove hunting the day before and happened to have a pump shotgun close by. He couldn't see me so when he got about even with my door I racked the shotgun and set it in the corner. Evidently he knew what the sound was as. he couldn't pay me fast enough.

Another client when confronted denied having a note due. He actually pulled a knife and threatened to carve me up like a Christmas turkey. His mistake was being too far away when he did it. I happened to have a 2X4 about three feet long within reach. Lesson learned by him. Don't bring a knife to a 2X4 fight.

Eventually I lost my lease and had to move to a new location. So I had to shut my loan business down as it was too far off the wino path. So I decided to start investing in regular banks and let somebody else deal with the deadbeats. It's been a good ride.

Well, there ya go!

Many don't realize that any cash deposit or withdrawal of $10,000 or more...even a series of cash transactions totaling $10,000, requires the bank to send a Currency Transaction Report (CTR) to the IRS.

[SaltwaterSlick]

Last big withdrawal I made was around 15k. Went to a large branch of Wells Fargo first thing in the morning and it was like pulling teeth. Probably took 30 minutes and ended up with a huge stack of 20s and 50s.

Had the exact same thing happen at the Wells Fargo in Humble a few years back.
I haven’t let myself be caught that way since!
If I need cash in a SHTF situation, I ain’t going to the bank (and likely fight the crowd that will be there trying to do the same thing if it is a wide-spread ( state or national) situation.

[M16]

Well, there ya go!

Many don't realize that any cash deposit or withdrawal of $10,000 or more...even a series of cash transactions totaling $10,000, requires the bank to send a Currency Transaction Report (CTR) to the IRS.

Or it could have a SAR ( suspicious activity report). I think the Biden’s had a couple hundred of them.

[eradicator]

Well, there ya go!

Many don't realize that any cash deposit or withdrawal of $10,000 or more...even a series of cash transactions totaling $10,000, requires the bank to send a Currency Transaction Report (CTR) to the IRS.

I just assumed every transaction was monitored.....like everything else

[dgilbert]

Is this a dream thread too?

[bowhntrmatt]

I had a conversation with a banker down in Karnes county a while back. He said that when the oilfield was really going strong there it created a huge problem for them because so many guys would show up on Friday and ask to cash their paychecks that were often 5-10k or more. They had to jump through hoops with the fed to be able to keep more cash on hand.

[Phorizt]

my problem would be that I don't have the money in the bank not that the bank doesn't have enough money.