Just got a call from corporate security from one of my dump banks

[Saabman]

Some guy called and wanted to talk with me about all the deposits I'm making using change. I have an appointment set up with him on Monday. I'm depositing anywhere between a thousand to 1500 dollars a week using 7 different branches. I also use a CU with 4 branches to break it up. So it's not like these guy's see me all the time. Anyway, suggestions?

 

[alaskanfever]

yeah show up with 2000 dollars in dimes or nickles and ask if you can deposit them.

 

[coolpix9]

send him a link to this forum. He will learn all he needs to in 5 minutes.

Due to the Patriot Act, some of these mid-management weiners think they have stumbled onto a gigantic money laundering scheme.

Good luck, JP

 

[$ilver$urfer]

Just be friendly and honest, explain how you order boxes, pick through them for the coins you want, dump the rest, get your cash, rinse and repeat. They will see you are harmless and probably learn something new themselves that will help them in the future if they ever come across another CRHer they feel they need to investigate.

HH,

$ilver$urfer

 

[jeff of pa]

Maybe they wanna Give you a
Depositor of the Month award

 

[Yinzi50]

Sorry to hear this. It should not be a problem. Just tell him that you are a coin collector and look for collectable coins; Bring a Whitman book or something with you. No need to tell him you are looking for silver to make a profit. abIf he mentions the silver, you can agree that some collectable coins are silver but they are very rare to come by.

It is most likely because some young new tellers reported about you. If any teller/local branch manager asks about the large amount of coins, we have to be straight about the purpose (coin collecting) and the source (bought from other banks). We must not dodge their questions in the beginning. This has happened before to a couple of guys here.

 

[favored papa]

If it happened to me I think i would take in an old coin or two and show him what I have found. My barber and a walker would be enough, and tell them how rare they are. So I go through a lot of coins.

 

[mlayers]

I agree just tell him you are a collector and you are looking for older coins......Matt

 

[quiksilver]

first ask him if your doing anything wrong then tell him you collect coins , mostly older ones but also proofs and error coins. Would help if you actually collect coins other then silver.

Ive been waiting for a phone call being as how i dump plenty at different branches with coin counters and am up to about 20 different bank accounts. When that call comes i will focus mainly on the pails of copper pennies i actually have.

whose to say they wont confiscate " their" silver coins

 

[MentalUnrest]

Why would you even go? So far as I know, they are not the police and have no authority to arrange meetings that you must attend. I would be happy to tell them over the phone in 10 seconds what I am doing - but going in for a "meeting" and taking up my time? Not a chance.

 

[KyFreeBird]

Sorry to hear this. It should not be a problem. Just tell him that you are a coin collector and look for collectable coins; Bring a Whitman book or something with you. No need to tell him you are looking for silver to make a profit. abIf he mentions the silver, you can agree that some collectable coins are silver but they are very rare to come by.

It is most likely because some young new tellers reported about you. If any teller/local branch manager asks about the large amount of coins, we have to be straight about the purpose (coin collecting) and the source (bought from other banks). We must not dodge their questions in the beginning. This has happened before to a couple of guys here.

Right on !!!

 

[sneak]

Why would you even go? So far as I know, they are not the police and have no authority to arrange meetings that you must attend. I would be happy to tell them over the phone in 10 seconds what I am doing - but going in for a "meeting" and taking up my time? Not a chance.

This is exactly what I am thinking! You are not doing anything illegal and shouldn't have to explain your actions to anyone!

 

[FreedomUIC]

Why would you even go? So far as I know, they are not the police and have no authority to arrange meetings that you must attend. I would be happy to tell them over the phone in 10 seconds what I am doing - but going in for a "meeting" and taking up my time? Not a chance.

Not a very good idea. If you dodge him, fail to answer his questions in a manner that gives him peace of mind or leave any doubt as
to the legality of your hobby, YOU will be visited by the authorities. Hunt for Golden Silver's thread about his visit
from NCIS (Seriously) and you will understand.

 

[quiksilver]

Why would you even go? So far as I know, they are not the police and have no authority to arrange meetings that you must attend. I would be happy to tell them over the phone in 10 seconds what I am doing - but going in for a "meeting" and taking up my time? Not a chance.

Not a very good idea. If you dodge him, fail to answer his questions in a manner that gives him peace of mind or leave any doubt as
to the legality of your hobby, YOU will be visited by the authorities. Hunt for Golden Silver's thread about his visit
from NCIS (Seriously) and you will understand.

i agree but not for those reasons , this is allegedly a free country but if you dont kiss the ring you may find yourself wishing you had.

 

[runco]

Some guy called and wanted to talk with me about all the deposits I'm making using change. I have an appointment set up with him on Monday. I'm depositing anywhere between a thousand to 1500 dollars a week using 7 different branches. I also use a CU with 4 branches to break it up. So it's not like these guy's see me all the time. Anyway, suggestions?

Be sure to bill him for your time. Time = $$.

 

[Saabman]

Thanks for all the great suggestions! I agree that we're not doing anything wrong but I'm going to show up and try to smooth out whatever they think is going on. I'll let everyone know how it shakes out on Monday!! Have a great weekend everyone......and find lots of silver!!!

Roger

 

[jeff of pa]

Thanks for all the great suggestions! I agree that we're not doing anything wrong but I'm going to show up and try to smooth out whatever they think is going on. I'll let everyone know how it shakes out on Monday!! Have a great weekend everyone......and find lots of silver!!!

Roger

Maybe You'll Be surprised &
he actually wants to make you an offer you can't Refuse.

"Do some Laundering for Him"

or

Maybe he already Knows & wants to put you
on the list to Buy Unsearchd Change.

or a Bucket full of Unusual coins.
(Odd Big Pennies & Coins with 2's & 3's on them)

 

[Rich Hartford]

Some guy called and wanted to talk with me about all the deposits I'm making using change. I have an appointment set up with him on Monday. I'm depositing anywhere between a thousand to 1500 dollars a week using 7 different branches. I also use a CU with 4 branches to break it up. So it's not like these guy's see me all the time. Anyway, suggestions?

I have recieved these types of calls before and the bottom line is that they will try to intimidate you by implying, but never directly accusing you of some type of criminal activity, like money laundering.You can kiss their A$$, cry, and tell them you are just a coin collector,and it is not going to work.They just want you to stop dumping coin.
The best thing to do is not attend any meeting, call them up,tell them that you search coins,and if dumping them at their bank is a problem,that you will simply close your account and go elswhere. That should satisfy them.
If for some reason they continue to question you, politely tell them to *#ck off and hang up the phone.
Nobody is going to come to your door and bother you. Just get yourself another dump bank and find some more silver.
HH
Rich

 

[SFBayArea]

I don't have credit union accounts.. it's better not to go through credit unions. Use a large bank like BofA. They deal with tons of coins everyday because they have merchants going to them. They've never had an issue with my dumps. Small banks like credit unions typically pay extra to get their coins and have small contracts to get coins from larger venders making it more expensive to order something like halves or to send off halves.

 

[GlassyEyed]

Why would you even go? So far as I know, they are not the police and have no authority to arrange meetings that you must attend. I would be happy to tell them over the phone in 10 seconds what I am doing - but going in for a "meeting" and taking up my time? Not a chance.

EXACTLY!!! I'd say meeting? Ok...I'll be eating lunch at Subway on Wensday around noon. Meet me there.