do you carry cash or deposit/withdraw at the bank?

[d2arcing]

should I be dumping my coins for cash and then picking up my coins with cash? I do deposits/withdrawals and am thinking I am doing too many transactions... so what do you do?

 

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[enamel7]

Cash is the way to go unless you are in the bad part of town.

 

[obediah]

should I be dumping my coins for cash and then picking up my coins with cash? I do deposits/withdrawals and am thinking I am doing too many transactions... so what do you do?

The way my dump Bank handles the Bags of cash (coins) is they send it off to be counted & credited to my account which takes usually 2 days. I've discovered a bank that credits my account by Friday or Monday at latest, so I just write a check when do this on Tuesday for next batch of coins. It does make me nervous with all this talk about Bank holiday possibly coming, but it is a very convenient way of doing it; sometimes use another Bank to get my coins in which case do so in cash by using ATM drawing out max for few days B4 big day.

I do wonder about the flow of cash going thru my account (25K or so per month) if it is a RED Flag for Homeland inSecurity of the dreaded Uncle we all hate.

 

[Yinzi50]

[/quote]
I do wonder about the flow of cash going thru my account (25K or so per month) if it is a RED Flag for Homeland inSecurity of the dreaded Uncle we all hate.
[/quote]

Definitely it's a RED flag for the government. Recently my last few years tax returns were audited (not in person) even though they only found a very minor thing. But I have to pay extra $30 to correct my 2007 return. Nothing wrong with my 2008 return though. The good thing that I found out is that Uncle Sam still owns me money for my 2005 return (small amount), which I carry the burden of proof. I am just not a very careful form-filler .

Why did this happen to me? I think it's because I run through too many multi-thousand transactions on my bank account for CRH. If I am right ,the software implemented by former NY governor Spitzer in the banking system will automatically catch accounts that have frequent transactions of large amount of coins and cash. This is mainly for anti-terrorism but it will flag anyone includes Spitzer himself. Sometimes I withdrew several thousands to buy boxes from another bank. Once this old lady from this new branch took my DL just for the purpose to send to the government after I got $2K coins.

I would say this to all my fellow hard-core CRHers: be very straight with your IRS returns because you are on the VIP list.

 

[joad]

I always pay with cash...no paper trail.I keep it seperate from bill/spending money.

 

[AGCoinHunter]

Wow, this is a good topic about audits. Never though of that. Thanks for bringing this up.

 

[Fredness]

I keep a detailed spreadsheet on all CRH activities, "...just in case of such a predicament!"
My dump banks prefer $250 or $500 dumps, making it that much easier...

 

[fistfulladirt]

Cash. Sometimes I will deposit the required amount if I make a purchase that week. Banks scare me tho. My money is with a credit union. ffd

 

[d2arcing]

thanks all, will start keeping cash