FlyerTalk Forums - View Single Post - Suspicious Activity Reports to the IRS when buying or depositing money orders.
Thread: Suspicious Activity Reports to the IRS when buying or depositing money orders.
View Single Post
Old Mar 11, 2016, 1:21 pm
  #1106  
Schutzee
 
Join Date: Apr 1999
Location: Northport, NY
Posts: 1,732
Originally Posted by Gitangali
This is a newly open checking account. Bank manager seemed very nice, so I sent him an email, told him that hey I have a credit card that offers me rewards and as a result I will be depositing $4-5K MOs per week, do you see any problem with it? The manager said there is no problem and there is no monthly limit. I have saved the email as a proof that I did check. Does this make me free from structuring and SAR business?
IME the branch wasn't the problem. TD Bank's back office AML people flagged me for suspicious behavior (depositing substantial amount of money orders) after a year. The branch knew I was minting points and had no problem with it. TD closed every account associated with me including my minor children, a church group I was treasurer of, three businesses, personal, and a guardianship account for my incapacitated mother. TD wasn't willing to discuss it at all.
Schutzee is offline  
Reply