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Message
re: Anybody ever have the bank turn down a cash deposit
Posted on 10/22/19 at 8:29 pm to tgrbaitn08
Posted on 10/22/19 at 8:29 pm to tgrbaitn08
quote:
They don’t. That’s a definitely red flag
How do you beleive the FED know that $ came out of a Safe Deposit Box?
0
Posted on 10/22/19 at 8:29 pm to Tigahs24Seven
quote:
I just keep some cash on hand in case the world goes nuts
Gold, silver... lead
.. would be much more valuable than fiat paper when the "world goes nuts"
Posted on 10/22/19 at 8:30 pm to ELLSSUU
quote:
How much? What bank? Where?
...If I had to guess.....CHASE
Yup. Chase. Only 20k
Posted on 10/22/19 at 8:35 pm to Tigahs24Seven
Yeah so the deal is...
this isn't directly a AML deal. The amount will catch you up in AML but the description for prepping the $ doesn't have anything to do with AML. Someone at Chase has a sense that the $ you are trying to deposit may have been in a flood or somehow otherwise contaminated. FED has rules on acceptance of contaminated money which is a PITA to banks which makes them place rules on customers. This is especially true in areas where it's flooded in recent years; think SE Texas, Louisiana, parts of Florida, Missouri, Iowa, Illinois etc. This is what you're caught up in. There is some crappy description about reprinting $ which is garbage but the gloves and special bags etc is the clue. Most banks have a similar process for the same reason.
this isn't directly a AML deal. The amount will catch you up in AML but the description for prepping the $ doesn't have anything to do with AML. Someone at Chase has a sense that the $ you are trying to deposit may have been in a flood or somehow otherwise contaminated. FED has rules on acceptance of contaminated money which is a PITA to banks which makes them place rules on customers. This is especially true in areas where it's flooded in recent years; think SE Texas, Louisiana, parts of Florida, Missouri, Iowa, Illinois etc. This is what you're caught up in. There is some crappy description about reprinting $ which is garbage but the gloves and special bags etc is the clue. Most banks have a similar process for the same reason.
This post was edited on 10/22/19 at 8:36 pm
Posted on 10/22/19 at 8:38 pm to Tigahs24Seven
U.S. paper money is actually fabric; 75% cotton, 25% linen. To get rid of the smell, just launder it.
This post was edited on 10/22/19 at 8:40 pm
Posted on 10/22/19 at 8:46 pm to scottfruget
quote:
Every stripper ever must have a glut of those bags cause you know that cash smells like straight arse after a long night of grinding
They launder that money. No, not the shady way, but with Tide.
Posted on 10/22/19 at 8:51 pm to Tigahs24Seven
One more thing....don't know what city you are in but go find a Branch Manager. I think Chase has centralized mgrs meaning one manager may serve severa branches. Explain exactly where the $ came from and that it was never wet.
Ask for their funds availability statement and specifically how it's related to your $. Your post seems to say that you have to send it in as in mail it. Tell me that's not true because that's not the way I remember their policy. Besides that's crazy to mail and their funds avail statement specifically talks about NOT receiving $ from the mail.
Ask for their funds availability statement and specifically how it's related to your $. Your post seems to say that you have to send it in as in mail it. Tell me that's not true because that's not the way I remember their policy. Besides that's crazy to mail and their funds avail statement specifically talks about NOT receiving $ from the mail.
Posted on 10/22/19 at 8:57 pm to Tigahs24Seven
It’s considered mutilated, same as in a fire. Mail to Bureau of Engraving and Printing and they will replace it.
Posted on 10/22/19 at 9:02 pm to Martini
quote:
It’s considered mutilated, same as in a fire. Mail to Bureau of Engraving and Printing and they will replace it.
No that's not true. OPs description sounds like Contaminated not Mutilated. Chase wouldn't be willing to mess with Mutilated.
This post was edited on 10/22/19 at 9:06 pm
Posted on 10/22/19 at 9:10 pm to ELLSSUU
Thanks all....I will get with the bank Manager when I go pick up the "special bag" which they had to order because they didn't have one....
Posted on 10/22/19 at 9:11 pm to ELLSSUU
Posted on 10/22/19 at 9:16 pm to Tigahs24Seven
quote:
Because it smelled like mildew?
Think you misunderstood.
They said it smelled like doo doo.
Posted on 10/22/19 at 9:21 pm to Tigahs24Seven
Yes - F the Banks - keep your cash at home
Posted on 10/22/19 at 9:23 pm to Martini
Decent article but wrong for this case. Money becomes Mutilated when the integrity or value of the $ is in question. Per description it smells bad.
Below is the Federal Reserve's rule.
Below is the Federal Reserve's rule.
quote:
Currency may become contaminated due to: Prolonged exposure to water or other liquids that results in the existence of mold. Exposure to blood, urine, feces or any other bodily fluids, including removal from any body cavity, corpse or animal. Exposure to sewage. Exposure to any chemical, liquid or foreign substance that may pose a health hazard or safety risk.
This post was edited on 10/22/19 at 9:28 pm
Posted on 10/22/19 at 10:35 pm to tigerinthebueche
quote:
Yes. It’s fed rules to try and prevent money laundering. Or so I was told such by the brawd at Chase.
If he laundered the money then it ought not smell like mildew.
Posted on 10/22/19 at 10:40 pm to Open Dore Policy
quote:
If he laundered the money then it ought not smell like mildew.
Some of the worse smelling money has been laundered a few time over and over.
Don’t let the smell fool you.
Posted on 10/22/19 at 11:16 pm to Tigahs24Seven
Congrats on having a SAR report on your file now.
quote:
Suspicious Activity Reports (SAR)
As of April 1, 2013, financial institutions must use the Bank Secrecy Act BSA E-Filing System in order to submit Suspicious Activity Reports.
A financial institution is required to file a suspicious activity report no later than 30 calendar days after the date of initial detection of facts that may constitute a basis for filing a suspicious activity report. If no suspect was identified on the date of detection of the incident requiring the filing, a financial institution may delay filing a suspicious activity report for an additional 30 calendar days to identify a suspect. In no case shall reporting be delayed more than 60 calendar days after the date of initial detection of a reportable transaction.
Under the Bank Secrecy Act (BSA), financial institutions are required to assist U.S. government agencies in detecting and preventing money laundering, such as:
Keep records of cash purchases of negotiable instruments,
File reports of cash transactions exceeding $10,000 (daily aggregate amount), and
Report suspicious activity that might signal criminal activity (e.g., money laundering, tax evasion)
This post was edited on 10/22/19 at 11:18 pm
Posted on 10/23/19 at 12:31 am to MIKEDATIGER
quote:
Yes - F the Banks - keep your cash at home
While most is deposited in banks and a couple of investment accounts, there is a lot to be said for keeping a decent kitty locked in a safe that is fire rproof and too heavy for a couple of burglars to carry out. Alarm system sensor also aimed at safe and dog sleeps in that room as well. Her weight is beneath the weight limit set on the motion sensors.
Now, if you really get into a jam where your cash is no good three main items to have on hand for barter include whiskey, cigarettes, and shite paper.
Posted on 10/23/19 at 1:08 am to scottfruget
quote:
Every stripper ever must have a glut of those bags cause you know that cash smells like straight arse after a long night of grinding.
It’s adorable that you think strippers are making bank deposits.
Posted on 10/23/19 at 2:31 am to Tigahs24Seven
Any fresh dug holes in your back yard? Under your porch?
Asking for a friend.
Asking for a friend.
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