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Disc Jockey
New Member
22 Posts |
 Posted - 12/17/2009 : 09:54:40
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Has anyone had a problem with going to multiple branches of the same bank on the same day ? I want to make a deposit (zinc) at more than one branch of a bank on same day. Does anyone at bank check up on this and question what is happening ? Has anyone had any problems doing this ? One of my suppliers wanted to charge me $5 per box of pennies and I turned them into a dump bank. They have many branches within my reach and this works out better for me. I just dont want a call from a bank administrator asking why I make 3 $35 deposits at 3 branches on the same day
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 12/17/2009 : 10:07:05
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that amount no problem.
when you get into a couple of thousand bucks you'll trigger a suspicious activity report (antimoney laundering) |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Disc Jockey
New Member
22 Posts |
Posted - 12/17/2009 : 10:20:04
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| I work in a casino and am trained in Title 31, the anti money laundering law. It would take a lot of pennies to trigger a Suspicious Activity Report, and I doubt I will cross that threshold. I dont even use a cart and to lug 3000.00 in pennies to the bank would kill me. |
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dakota1955
1000+ Penny Miser Member
2212 Posts |
Posted - 12/17/2009 : 10:48:45
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| I dump more than a $100 at a time at my dump bank. It would seem to be a waste of time to do 3 banks when with that amount you could do 1 or 2 dumps. |
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Country
1000+ Penny Miser Member
USA
3121 Posts |
Posted - 12/17/2009 : 10:53:46
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| Deal in CASH. Ask for CASH back, don't deposit. There is less of an audit trail when you do it with CASH back. Some branches have a policy of watching CASH to a customer over $1000, but others just don't care. Under $1000, there should be no problems whatsoever. |
---> Come to the new and improved realcent: http://realcent.org
The things that will destroy America are prosperity-at-any-price, peace-at-any-price, safety-first instead of duty-first, the love of soft living, and the get-rich-quick theory of life.
– Theodore Roosevelt
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 12/17/2009 : 12:03:07
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I wouldn't worry about it. I go in and out of several branches of one bank all the time. Depositing, withdrawing, dumping. I am talking about several hundred to a few thousand at a time. No one questions it.
You and i are so far under the radar. Just think about the small time handy man. or the backyard mechanic. these guys deal in cash and are always depositing and withdrawing cash. |
You don't have to be the BEST you just have to be.......SLICK
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HoardCopperByTheTon
Administrator
USA
6807 Posts |
Posted - 12/18/2009 : 02:07:30
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I have been known to "occasionally" dump more than $100 at a time. No problems at that level. But I did manage to get cut off from a branch of one of my banks a while back when I crossed that $3k threshhold in a week. I think it was the squeeky wheel on the cart that gave me away.  |
If your percentages are low.. just sort more. If your percentages are high.. just sort more.
Now selling Copper pennies. 1.6x plus shipping. Limited amounts available. |
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 12/18/2009 : 05:36:17
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| there is a law that says 10,000, but then its a criminal offense to structure deposits to avoid that so each bank has its internal rule. so yeah, 3000 might be enough. if you do halves you might hit that |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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Edited by - Lemon Thrower on 12/18/2009 05:37:31 |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 12/18/2009 : 09:03:19
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| I got cut off when I got called into the office and they told me that I dumped more than $5000 in their machine in one week. It is easy to do with halves. |
You don't have to be the BEST you just have to be.......SLICK
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Lemon Thrower
1000+ Penny Miser Member
USA
1588 Posts |
Posted - 12/18/2009 : 10:16:48
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| you should not dump halves in machines. you will get shorted. |
Buying:
Peace/Morgan G+ at $15.00
copper cents at 1.3X
wheat pennies at 3X
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PennySaved
1000+ Penny Miser Member
USA
1720 Posts |
Posted - 12/18/2009 : 10:23:00
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| Before WAMU was taken over by Chase, they had an alert that would pop up when you had what seemed to be excessive deposits and withdrawals. You would have to review your last several transactions with the teller so they could be sure there was no fraud. It happened a couple of times to me because I had online bill pay bills that were being paid and then I was withdrawing money to buy coin. |
SELLING COPPER PENNIES 1.4X FACE SHIPPED......“I sincerely believe that banking establishments are more dangerous than standing armies, and that the principles of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale” Thomas Jefferson |
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Kurr
1000+ Penny Miser Member
2906 Posts |
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Disc Jockey
New Member
22 Posts |
Posted - 12/18/2009 : 10:55:47
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| Im just trying to stay invisible. I like the cash only idea. Right now Im at 1/3 of my monthly goal. Eventually I need to dump 3000 per month and with 3 dump banks and maybe 50 branches all together, I think I can get in and out unnoticed for a long time. For me this is a 10 year plan and the goal is 1000.00 in coppers per month. Im increasing my supply slowly to kind of ease into this. Its a lot of work and time. But I get excited just thinking about it. Someday Ill get back to playing online poker, but that has been put on the back burner for a while. There is good money there, also |
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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 12/18/2009 : 11:00:27
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quote:
Originally posted by Country
Deal in CASH. Ask for CASH back, don't deposit. There is less of an audit trail when you do it with CASH back. Some branches have a policy of watching CASH to a customer over $1000, but others just don't care. Under $1000, there should be no problems whatsoever.
What he said. Easiest way.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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slickeast
1000+ Penny Miser Member
USA
2533 Posts |
Posted - 12/18/2009 : 12:42:57
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quote:
Originally posted by Lemon Thrower
you should not dump halves in machines. you will get shorted.
The last dump of halves was $1999.00. I know this because I found 2 40% halves in 4 boxes. The machine printed a ticket for $2000.50. This is $1.50 MORE than I dumped. When I dump pennies, the ticket always has a few nickels, quarters or SBA dollars listed. I know they are ALL pennies but the ticket usually has some bonus coins on it.
If I have ever been shorted dumping, I feel that I make up for it with the overages that I get. |
You don't have to be the BEST you just have to be.......SLICK
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Edited by - slickeast on 12/18/2009 12:43:30 |
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multiple branches same day deposits
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