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Shop: Kraken Kratom Red Vein Kratom   Unfolding Nature Unfolding Nature: Being in the Implicate Order

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OfflinekronnyQ
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Purchasing Travelers Checks?
    #3251248 - 10/19/04 11:30 AM (19 years, 6 months ago)

Anybody see any red flags if I walked into a bank and bought $3k worth of Travelers chex?

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OfflineRandolph_Carter
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Re: Purchasing Travelers Checks? [Re: kronnyQ]
    #3251407 - 10/19/04 12:14 PM (19 years, 6 months ago)

Not really, altho the cash might raise some eyebrows
No paperwrok involved i can think of.


--------------------
"..all those molecules thrashing their kinky little tails, hot for destiny and the street."  Gibson


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(This has been a +1 production.)

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Offlineonetime
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Re: Purchasing Travelers Checks? [Re: Randolph_Carter]
    #3251614 - 10/19/04 01:04 PM (19 years, 6 months ago)

well you cant just buy that much there is packages like up to limits and shit they make you get certin kind too like 20 $20's and shit it differs bank to bank but 32k is prime to get for a good vaction


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Offlinediscoabe
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Re: Purchasing Travelers Checks? [Re: onetime]
    #3258974 - 10/21/04 12:25 AM (19 years, 6 months ago)

banks don't have to report cash transactions unless it's 10K or over.

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OfflinekronnyQ
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Re: Purchasing Travelers Checks? [Re: discoabe]
    #3260231 - 10/21/04 11:30 AM (19 years, 6 months ago)

I heard $2500 or over...

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OfflineRandolph_Carter
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Re: Purchasing Travelers Checks? [Re: kronnyQ]
    #3260532 - 10/21/04 01:39 PM (19 years, 6 months ago)

http://www.irs.gov/irm/part4/ch25s05.html

"Issuance or sale of money orders, traveler's checks or certain other negotiable instruments for $3,000 or more in currency. "

also m,odified by wether or not you have an accoutn at said banks.

10 grand is the lower limit for deposits/transactions.

Read that page, especially the tables, and you'll find what you need to know.
State laws in this matter generally follow federal, as there aer no state insurance programs for banks.


--------------------
"..all those molecules thrashing their kinky little tails, hot for destiny and the street."  Gibson


Nuke baby seals for Jesus!

(This has been a +1 production.)

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OfflinePNutButta
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Re: Purchasing Travelers Checks? [Re: Randolph_Carter]
    #3263701 - 10/22/04 03:46 AM (19 years, 6 months ago)

I work at a place that sells Traveler's Checks. Since 9/11 we have recieved many official government notices specifically about people purchasing large amounts (anything over $1000) repeatedly purchasing, or simply appearing suspicious while purchasing Traveler's Checks. These notices have listed phone numbers for local, state, and federal (DEA, FBI, DHS, etc) athorities with instructions to call immediately. There appears to be some fear of money laundering through Traveler's Checks / Money orders. There are even punishments (fines mostly) listed in the notices for our failure to contact the proper authorities in the event of these purchases. This appears to be something the govenrment is looking at very closely.

In other words, don't. Purchase small amounts at various locations, over time.

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OfflineRandolph_Carter
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Re: Purchasing Travelers Checks? [Re: PNutButta]
    #3264448 - 10/22/04 11:40 AM (19 years, 6 months ago)

yeah, the limit is 1000 at non-bank places.

Thanks for the first hand tho!


--------------------
"..all those molecules thrashing their kinky little tails, hot for destiny and the street."  Gibson


Nuke baby seals for Jesus!

(This has been a +1 production.)

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OfflinekronnyQ
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Re: Purchasing Travelers Checks? [Re: Randolph_Carter]
    #3267713 - 10/23/04 12:25 PM (19 years, 6 months ago)

I would be going to my bank, so if I walk in there and purchase $3k of checks you think that would arouse any suspicion? I have had up to $5k in my bank account.

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OfflineRandolph_Carter
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Re: Purchasing Travelers Checks? [Re: kronnyQ]
    #3267763 - 10/23/04 12:39 PM (19 years, 6 months ago)

I wouldn't sweat it.....but if they start asking about paperwork/ident/signing things, tell em you're kinda iffy on that.

Worth a shot, fer sure.  Just remember to not show up for a week or so to keep the illusion intact.
People only know what you tell them, or someone else. :smile:


--------------------
"..all those molecules thrashing their kinky little tails, hot for destiny and the street."  Gibson


Nuke baby seals for Jesus!

(This has been a +1 production.)

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OfflinePNutButta
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Re: Purchasing Travelers Checks? [Re: kronnyQ]
    #3274754 - 10/25/04 09:33 AM (19 years, 6 months ago)

Quote:

I would be going to my bank, so if I walk in there and purchase $3k of checks you think that would arouse any suspicion? I have had up to $5k in my bank account.




A few things to think about.

Your age is important. A twenty-something wanting to exchange $3k in cash for checks will arouse suspicion. Hell, just about anyone wanting to do that will arouse suspicion. I would imagine most people who work at banks are a little paranoid (the whole getting robbed thing) and most likely trained to be on the lookout for suspicious activities (money laundering, drug dealing -- which could lead to money laundering, fraud).

You don't want to arouse suspicion, so I assume you don't want anyone to know where the money came from and/or where it is going.
  • Where did this money come from? If it is money from selling drugs, or some other illegal activity, then this is exactly what the bank tellers are looking for! The fact that you are using a system with extensive safeguards in place to prevent you from doing exactly what you are planing on doing (that's a mouth-full) is a Bad Idea. Nothing wrong with trying to out smart the system, but why take unnecessary risks?
  • What are you planning on doing with these checks? If you buy them from your bank, they are easily traceable back to you. Checks from your bank do not an anonymous transaction make.
  • Will you have to deposit the money first? My bank makes me deposit the money in my account before I can get a Cashier's / Traveler's Check. If you want to minimize the paper trail on this cash, it would not do to have a deposit listed on your account transaction summary.

If for some reason anyone questions your activities, you would want a pretty solid alibi. Buy a plane ticket to some exotic locale. Take a vacation. That way you have a reasonable excuse.

I hope you have picked up that I am trying to discourage you from this plan. Using questionably acquired money to get checks, easily linked back to you, in order to purchase things you'd rather not be associated with is just not good planning.

Best of luck with what ever course of action you choose. Please be safe.

P. Nut Butta

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OfflinekronnyQ
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Re: Purchasing Travelers Checks? [Re: PNutButta]
    #3278298 - 10/26/04 04:43 AM (19 years, 6 months ago)

I was gonna need travellers checks because I was going to travel out of state to buy a new car but it looks like I found something locally so I won't be needing to buy them now.

Bank officials do piss me off in the way that they try to scrutinize you all they can. I had to report some stolen checks and I am naturally anxious a lot and that definitely made them give me some weird looks.

I really hate banks altogether, but I'm too lazy to pay my bills by mail so :tongue:

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Invisiblesir tripsalot
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Re: Purchasing Travelers Checks? [Re: kronnyQ]
    #3294824 - 10/29/04 06:05 PM (19 years, 6 months ago)

I work in a credit Union(in canada). Honestly, if you are not a member there they may refuse you. And we are encouraged to ask what the money is for. If you pay for it with 10's and 20's thats a triple red flag. And as far as doing a large cash transaction form: we can do it for any amount, we HAVE to do it for $10,000 Canadian though. That's to prevent shady people from coming in and asking for $9,900. Be prepared to answer questions. The person there may go through your banking history and see if this si typical of you.


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"Little racoons and old possums 'n' stuff all live up in here. They've got to have a little place to sit." Bob Ross.

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