The $10,000 is on a rolling 12 month year. If you deposit cash of $10,000 or more in a 12 month period OR if you cash checks for $10,000 or more in a 12 month period, then an SAR is completed.

Cashing checks is when you cash them with a bank teller.

If you deposit the check and then withdraw the money, then it's not part of the $10,000 calculation.

David

Do you have any support for this?

This is not even close to my experience (4 years in branch banking).

Oh, really? Perhaps you could quote the relevant piece of legislation.


Dude, not cool.

Just had a SAR filed on me. Went to buy $2,000 MOs with $500 OVs. My first time at this particular grocery store. First clerk was ringing them up, on the fourth OV another senior clerk came over and said only one card could be used and it had to have my name on it. She tried to void the whole thing but was unable. She called the head manager over. They took and looked at the OVs and my DL. I heard them talk about prepaids and the manager told the clerk "go ahead, make sure to do a SAR". I got the OVs back and needed to pay for the last MO, yet I couldn't remember which OV hadn't been used. So, a few declines until I got to the unused one. Probably didn't help matters. She wrote down my DL info but did not ask for SSN.

How much cause for concern is something like this?

Little cause for concern, I would opine.

I never try to get 2k in MOs in a visit anywhere. It just causes nervousness for some cashiers who aren't used to large amounts. Although, ebay sellers are accepting MOs as a cheaper alternative than increasing their item's price to account for PayPal's fees, so it is common to buy MOs to make ebay purchases (but 2k is pushing it).

Is there a way to figure out if a SAR has been filed on you? An online database somewhere?

I think that we only know when the black vans pull up outside of our house or job.

I'm worried about the purchase of them causing an issue.

Aren't we supposed to not know a SAR has been filed?

Right, I think the bank or whatever is not supposed to tell you, which is why I asked if there was an online database where you can look that information up.

Maybe I'm being unclear...

I was trying to buy some MOs the other night at WM and got this error when the cashier tried to add a 7th MO to the transaction. I've never come across this before and it might be a fluke. I might be back tomorrow and see if I get the same error again. Anyone else run across this?

http://i222.photobucket.com/albums/d...ps3xw5aigl.jpg

7 MOs?!? Why would you be doing that much in one transaction. Have you ever done that much before?

LOL, that's a typical transaction for me. I very rarely do less than 7 or 8 at a time. Once you get your spending pattern down it goes through with no hiccups what so ever.

That's my first suggestion. I'm not saying that buying that much in one trip is bad but you that you are probably hitting some threshold by doing so much in 1 transaction. Buy some during one transaction and then do a second.

I buy that many ALL the time. This is the first time I've had an error with more than 6. Doing two separate transactions is guaranteed to get flagged on the 2nd transaction and not go through. I know from personal experience.