I was not able to do an electronic transfer because the recipient bank would accept an electronic transfer only from a checking account, and not a savings account - and the account from which I withdrew the funds was a savings account. (Why they have this rule, I have no idea -- but that's the rule). I could have used a cashier's check -- and in retrospect I probably should have done that -- but I was annoyed by the ten dollar fee for such a check.
The bank from which I withdrew the funds asked me for ID and asked me my occupation. I am not sure why they asked my occupation, but I had no objection to the question. Whatever they want to know (within reason) is fine with me.
They did not ask me why I am making the withdrawal. (If they had asked, I would have simply told them that I am depositing the funds at another bank which pays higher interest).
In hindsight, this was probably a dumb thing to do. Then again, I have done lots of dumb things in the past, and I am sure I will do lots of dumb things in the future. So I guess it is just part of a pattern
Since I did not get robbed, and the recipient bank had no problem accepting the cash, really my only concern at this point is whether it will increase the risk of an IRS audit. I am totally honest on my tax returns, but I am sure the process of an audit would be annoying and time consuming.
The bank from which I withdrew the funds asked me for ID and asked me my occupation. I am not sure why they asked my occupation, but I had no objection to the question. Whatever they want to know (within reason) is fine with me.
They did not ask me why I am making the withdrawal. (If they had asked, I would have simply told them that I am depositing the funds at another bank which pays higher interest).
In hindsight, this was probably a dumb thing to do. Then again, I have done lots of dumb things in the past, and I am sure I will do lots of dumb things in the future. So I guess it is just part of a pattern
Since I did not get robbed, and the recipient bank had no problem accepting the cash, really my only concern at this point is whether it will increase the risk of an IRS audit. I am totally honest on my tax returns, but I am sure the process of an audit would be annoying and time consuming.