Alternative To Cashiers Checks - Amounts over 1000 USD

[synchro.surfer]

Hey all

This is something thats been bouncing around my brain for a couple of years now and I haven't really found a "great" solution to it ...

So cashiers checks are usually tied to your bank account ... Well , if you end up depositing thousands of dollars for cashiers checks over and over and end up over that 8-10 thousand mark in a year it can make you look suspicious to the Eye Are Esss , potentially.

So ... the only thing i've come up with is multiple 500 dollar money orders BUT even then if you get them all at the same place they ask for ID and log it most times. So they're still keeping track unless you bounce around to 12 different locations until you've added up to your total. And even then , who the fuck wants to cash 12 money orders ...

"Uh yeah , I closed my bank account so all I have are these 12 money orders for 800 a piece , does that work?"

I'm sure it would work but there's gotta be SOMETHING to stay under all the radars when having to drop a large CHECK on someone.

???

 

[Strainhunter]

.......

So ... the only thing i've come up with is multiple 500 dollar money orders BUT even then if you get them all at the same place they ask for ID and log it most times. So they're still keeping track unless you bounce around to 12 different locations until you've added up to your total. And even then , who the fuck wants to cash 12 money orders ...

.......

Walmart has MO machines.


.

 

[GoGreenGiant]

I work in finance and go through AML (Anti Money Laundering) training every year. (USA patriot act shit)
I'm a little confused, are you trying to write out money in form of a check to someone, or collect money in your bank account?

"So cashiers checks are usually tied to your bank account" - No, if you're writing a check out to someone, they do a cash withdraw and then a money order transaction, just like if you walked into a pay day place with cash. If you're collecting in your bank, then it is attached to your account in that your statement shows you have a shit ton of small deposits that add up to a lot over time (bad)
Forget the old $10,000 rule for now, the patriot act made it much worse. Banks are required to have controls in place to identify and file SARs (Suspicious Activity Reports) for anything that looks fishy - Specifically someone depositing a shit ton of cashiers checks.
Best bet is to spread out a few mid sized transactions over several institutions, one time deals, or regular (but seeming legitimate) transactions.

Cash is King, you can get into trouble trying to legitimize too much that isn't.

BTW, I think the best way to clean money is in real estate, they call old houses a money pit for a reason. Sink that cash in, flip it, and get a clean check from the title agency at closing. You gotta pay taxes, but what's the saying... can never avoid death & taxes?? Plus, you should get a profit off it.

Anyway, that was rambling, but please, don't go around trying to deposit 12 money orders.
If you're trying to drop a large check on someone... write it strait from your account if it's in there, else give em cash!

 

[Strainhunter]

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Best bet is to spread out a few mid sized transactions over several institutions, one time deals, or regular (but seeming legitimate) transactions.

.......

Hmmm I like your informative post.

According to your training what amount is considered a "mid size transaction"?

 

[joe fresh]

yeah good post GGG...im tuned in to see where this leads....