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Old 10-23-2011, 11:02 PM   #21
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Well, I wouldn't do it in cash myself, but mostly because someone with a gun might want to make it their cash. But don't be afraid of the paperwork - the black helicopters are not going to start following you around. It's just a form that goes off into the giant maw of the government. The only people who have to worry about it are the crooks, and then it's just another piece of paper in the jigsaw puzzle that make a conspiracy case. I've walked into banks with millions in cash and only worried about bringing enough donuts for the tellers who have to count it. Even though they knew who I worked for, the CTR form doesn't (didn't anyway) have a space for occupation. They were a pain in the 80's when we had to fill them out by hand, but by the late 90's most of the time it was all computer generated and was a breeze to deal with because it was a form the bank completed and sent in.

Edit: Oops, the new forms do show occupation. (Maybe the old ones did as well and I forgot. )
It's not the CTR's that end up on some Fed's desk ... thousands of CTR's get filed daily .... it's the SAR that the bank generates without your knowledge if/when you appear to be withdrawing or attempting to deposit/withdraw cash in such a manner so as to avoid the filing of a CTR.

CTR's only get pulled up & looked at if some investigative agency is already looking at a person for something.

Most US Attorney Offices have at least a monthly meeting with reps from various of the Federal LE agencies to review SAR's generated within their judicial district. There's no way they can look at every CTR - too many and most of them legitimate transactions.

There's no real reason to worry about a CTR being generated. A person's best bet to avoid investigative interest is to do just do whatever they are going to do regardless of whether a CTR will be required.
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Old 10-23-2011, 11:11 PM   #22
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Originally Posted by Texarkandy View Post
It's not the CTR's that end up on some Fed's desk ... thousands of CTR's get filed daily .... it's the SAR that the bank generates without your knowledge if/when you appear to be withdrawing or attempting to deposit/withdraw cash in such a manner so as to avoid the filing of a CTR.

CTR's only get pulled & looked at if they are already looking at you for something.

Most US Attorney Offices have at least a monthly meeting with reps from various of the Federal LE agencies to review SAR's generated within their judicial district.
SAR's are something new to me - back in the day it was all CTRs. It makes sense to have a different form for suspicious activity though, as I recall going to a school put on by FINCEN that included something about schooling banks that they could file CTRs on suspicious activity below the $10,000 threshold.

I am surprised it goes through the USAs though - figured since FINCEN was Treasury thing it would stay in house, or go to the DEA or Customs ICE - can't remember which was designated as the designated agency for money laundering.

Whatever - in the case instant it still doesn't matter unless the OP has some issues he/she isn't telling us about that would make him pop up as interesting for other reasons. And still my advice is don't do it in cash, for a host of reasons.
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Old 10-24-2011, 01:47 PM   #23
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I've always used cashiers checks. even in 6 figures, never had a problem. Had a wire transfer get lost for several days once.
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Old 11-02-2011, 04:15 PM   #24
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I've used cashier's checks, ACH, and wire transfers. Wires have always worked for me but I find them a little disconcerting because for a few hours (at least from my perspective) your money is in the electronic ether somehow.

In your shoes I'd set up the ACH stuff online -- usually you need a routing number and account number. Find out the ACH limits from both banks; sometimes there are daily limits and monthly limits. Then just go online and schedule your transfers. If you need to do $40k and the limits are $10k, most places will let you set up 4 x $10k transactions for Monday, Tuesday, Wednesday, and Thursday.

If either bank gives you any guff and you feel uncomfortable, you can always imply or state that you are setting it up to move money *into* that account -- they'll likely be glad to help you. Almost all ACH setups can go both directions, so it doesn't really matter.

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Old 11-02-2011, 05:24 PM   #25
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Have done multiple wire transfers and never had an issue.

If BofA gives you a hard time about routing numbers tell them you'll call the FDIC/SEC/FBI/Occupy Wall St and sick the dog catcher on them.
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Old 11-02-2011, 07:19 PM   #26
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For one time transactions or need a paper audit trail I get a cashier check. When I will be doing it on a recurring basis I set up an ACH money link.
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Old 11-02-2011, 08:36 PM   #27
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Thank you all for the feedback. I ended up going the wire-transfer route since TD Bank told me a cashier's check could take up to 4 days to clear due to the fact that I have a new account with them and the first 30 days are considered "risk-prone". Fortunately, no questions were asked by BOA and the money appeared in my TD account right away and cleared the next day. I tried to be as friendly as possible about it, and I still had about $20K left in the account, which I will transfer via personal checks made to myself in the near future, once everything else settles.

I appreciate everybody's input!
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