Reliable forms of payment to accept for vehicles...

B00ger said:
Don’t blame the banks, blame the government. We have regulations that require us to track large cash transactions to combat the cartels, organized crime, drugs, and fraud. It’s trained into us as failure to do so is extremely bad juju for the bank and the associate you are directly dealing with.


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papa_smurf said:
Yea, i didn't give them any hard time about it. The answer of buying a used car seemed to be all that he needed to know since he went to grab the cash after that. I did find it odd that they didn't have $13k in 100's at the main Raleigh branch though. Maybe they had more, but just wanted to hold it back instead of giving it all to one person?
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I get the anti-money laundering regulations. But, you’d hafta be a real genius to answer…

”Where did it come from? I just robbed your branch in the next town.”

”Why do I need it? I‘m having lunch today with El Chapo.”
 
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Jeppo said:
I get the anti-money laundering regulations. But, you’d hafta be a real genius to answer…

”Where did it come from? I just robbed your branch in the next town.”

”Why do I need it? I‘m having lunch today with El Chappo.”
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You do seem to pop up in quite a few lunch threads here.
 
Jeppo said:
I get the anti-money laundering regulations. But, you’d hafta be a real genius to answer…

”Where did it come from? I just robbed your branch in the next town.”

”Why do I need it? I‘m having lunch today with El Chapo.”
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Indio and I have our eyes on this place:

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Jeppo said:
I get the anti-money laundering regulations. But, you’d hafta be a real genius to answer…

”Where did it come from? I just robbed your branch in the next town.”

”Why do I need it? I‘m having lunch today with El Chapo.”
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You would be surprised. While we aren’t trained operatives or anything crazy, we are trained in answers that don’t pass the sniff test and to get to know our customers relatively well and the patterns of their transactions. There have been people busted because they say stupid stuff. People in general have pretty standard banking behaviors, and when that behavior is altered dramatically it raises flags.


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It just occurred to me that I can deposit a check up to the amount in question with my phone. That at least expedites getting it into my account as long as I trust the check on receipt. Not sure that there would be any advantage to hand carrying it to a branch for deposit, especially since used vehicle transactions between private sellers often occur outside banking hours.
 
fieldgrade said:
It just occurred to me that I can deposit a check up to the amount in question with my phone. That at least expedites getting it into my account as long as I trust the check on receipt. Not sure that there would be any advantage to hand carrying it to a branch for deposit, especially since used vehicle transactions between private sellers often occur outside banking hours.
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Don't deposit a check if you have reason to suspect it's not good. Take it to their bank and cash it.
 
papa_smurf said:
"It's my money and I need it NOW!"

Ever tried depositing over $10k in cash? Then it's "Where did you get this money?"
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Form 104, formerly 4789, was completed by bank tellers to report cash deposits over $19K.
 
papa_smurf said:
Don't deposit a check if you have reason to suspect it's not good. Take it to their bank and cash it.
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I wouldn’t take it to begin with if I didn’t trust it, and damn sure don’t want to try to cash a twenty thousand dollar check that I suspect is bad. I don’t think they’d cash it anyway for that amount.
 
I asked this question Friday when I was making a deposit because I am going to sell my truck. Best answer was to meet at buyers bank and get bank check made with you there. Second best was to get check from buyer if out of state, go to local branch of bank, they can in house verify, and have them cut you bank check or cash.
 
fieldgrade said:
It just occurred to me that I can deposit a check up to the amount in question with my phone. That at least expedites getting it into my account as long as I trust the check on receipt. Not sure that there would be any advantage to hand carrying it to a branch for deposit, especially since used vehicle transactions between private sellers often occur outside banking hours.
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Not sure it means much but, a benefit of using your phone is you still have the check in hand.
 
fieldgrade said:
It just occurred to me that I can deposit a check up to the amount in question with my phone. That at least expedites getting it into my account as long as I trust the check on receipt. Not sure that there would be any advantage to hand carrying it to a branch for deposit, especially since used vehicle transactions between private sellers often occur outside banking hours.
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Right depositing the check to me isn’t the issue. It is a verification of funds. To me the only way you know that the check is good is by witnessing the check being drawn at the bank. There is no float with a cashiers check. Funds have to be liquid and on deposit in order to draw the check,

Cashiers checks can be faked like any other check and just because it is deposited does not mean it is good and that the funds can’t be rejected at a later time by something like a stop payment. Cashiers checks by law cannot have a stop payment placed on them for 90 days which is more than enough for it to clear.
 
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mj1angier said:
I asked this question Friday when I was making a deposit because I am going to sell my truck. Best answer was to meet at buyers bank and get bank check made with you there. Second best was to get check from buyer if out of state, go to local branch of bank, they can in house verify, and have them cut you bank check or cash.
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Yes taking the check to a branch and having them verify and then cut you a new counter check is also a good approach. That way the funds are clear snd drawn off the bank not an individuals account which should be the case with any cashiers check but the second check would give an additional layer of protection.
 
Jeppo said:
I get the anti-money laundering regulations. But, you’d hafta be a real genius to answer…

”Where did it come from? I just robbed your branch in the next town.”

”Why do I need it? I‘m having lunch today with El Chapo.”
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Like the questions on a 4473 😂. "Are you a fugitive from justice?" Why yes, yes I am... 🤣
 
Jeppo said:
The bank needs to know why you want YOUR money?????
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Unacceptable....Thie happened to me at our local bank Exactly ONE time. I asked for the highest ranking member of staff. He came out and I said....In one hour I want Every dime I have in this bank sitting on your desk, in cash. I'm leaving your bank. After about 10 hard minutes of hand wringing and apologies by 3 staffers, we All decided This would Never happen again....it hasn't. Since every dime I have there [in accounts] was earned by me and taxes paid by me, it is none of their Damn business if on the way home I throw it all out the window.
I now have 2 bankers assigned to me and are a phone call away from producing CASH when I want it. These two folks have risen to the top of South State Banks in our area. When I get the EM asking how my visit went I always praise those two by name in high fashion. Without exception, in the banks I have used in my life, once the top guy at a branch is introduced, you find out that All the others are little self important employees who are more concerned with flaunting their "authority" than real Bankers.
Remember....it's YOUR money....the main reason our local branches don't give out sums of cash is...they don't have it. I have been told several times...I can order it for you on Tuesday and have it for you then. Most times they're to lazy to go open the vault and get it.
Remember it's YOUR Money!!!!
 
I've been looking at bikes around the country and wondering how the transaction would take place if I found something I wanted. I would love to buy something 8 hrs away and drive it home but the logistics would be a pain in the area.
 
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