GFY Banking Experts: Can you split a check between two accounts? - GoFuckYourself.com - Adult Webmaster Forum

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Diomed

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#1

GFY Banking Experts: Can you split a check between two accounts?

05-08-2009, 12:46 PM

GFY Banking Experts,

I was wondering if you can split a big check between two accounts at the same bank.

Say I have a checking and a savings account at Bank of America for example, and I just got a $14,000 check. I'm wondering if you can put half in your savings and half in your checking.

Basically I'm trying to figure out a way to lower such a large deposit amount because isn't there a rule about depositing over like 8k at once it automatically gets flagged?

I could be off on this, but would appreciate any helpful info.

Thanks guys

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Ice

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#2

05-08-2009, 12:47 PM

I'm sure you can. I'll email you with my BOA account number so you can give it a try

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Daruma

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#3

05-08-2009, 12:48 PM

Not possible - its a single transaction.

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polish_aristocrat

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#4

05-08-2009, 12:53 PM

Awaiting Pleasurepays reply that the IRS already traced your IP and will knock on your door tomorrow morning..

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_Richard_

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#5

05-08-2009, 12:56 PM

considering 8k would flag an account, i'm sure they'd be very interested in why you'd want to split up one cheque between accounts..
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Pleasurepays

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#6

05-08-2009, 12:57 PM

Originally posted by polish_aristocrat

Awaiting Pleasurepays reply that the IRS already traced your IP and will knock on your door tomorrow morning..

The bank won't do that anyway... so its a non issue.
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IllTestYourGirls

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#7

05-08-2009, 12:58 PM

I deposit checks that size all the time. Sometimes they make me fill out a form other times they dont. If you have nothing to hide there is nothing to worry about.

If you are really worried ask the person giving you the check to give you two checks.
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Diomed

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#8

05-08-2009, 01:01 PM

Nice try guys,

but the check was from me selling a car of mine, in which I took a LOSS.

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qxm

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#9

05-08-2009, 01:06 PM

mmm simple... if its a Certified Check there are usually no holds... if it is a money order there might be a hold if the funds can't be verified through the automated system.

If it is a personal or any other type of check there might be a hold if your balance is not enough to cover the amount of the check should something go wrong (NSF)

Now.. if everything clears.. then you can do a simple deposit to one of your accounts and ask the teller to transfer whatever u want to the savings acc.... ... U can also do a deposit with cash back and then take that cash and deposit that amount to ur savings... thats it...

There are no "red flags" on most checks...(unless there is something obviously out of place) ..... redflags pop up when you have a very low balance and all of the sudden u make a large deposit .....also, cash transactions over 10K need to be logged so they will ask you a bunch of things if you do a deposit with cash back.. . deposit and xfer might be the best option....

Last edited by qxm; 05-08-2009, 01:10 PM.

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baddog

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#10

05-08-2009, 01:08 PM

Never heard of a deposit being flagged. Believe you are referring to $10k withdrawals. And no, you will have to deposit it to one account, then transfer part of it after it clears.
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Diomed

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#11

05-08-2009, 01:10 PM

Originally posted by qxm

mmm simple... if its a Certified Check there are usually no holds... if it is a money order there might be a hold if the funds can't be verified through the automated system.

If it is a personal or any other type of check there might be a hold if your balance is not enough to cover the amount of the check should something go wrong (NSF)

Now.. if everything clears.. then you can do a simple deposit to one of your accounts and ask the teller to transfer whatever u want to the savings acc.... ... U can also do a deposit with cash back and then take that cash and deposit that amount to ur savings... thats it...

Much obliged,

it's a check from GMC.

Appreciate the info qxm and illtest ;)

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Diomed

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#12

05-08-2009, 01:11 PM

Originally posted by baddog

Never heard of a deposit being flagged. Believe you are referring to $10k withdrawals. And no, you will have to deposit it to one account, then transfer part of it after it clears.

There we go, that is EXACTLY what I was referring to.

Appreciate that Baddog

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DaddyHalbucks

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#13

05-09-2009, 10:03 PM

Originally posted by Diomed

GFY Banking Experts,

I was wondering if you can split a big check between two accounts at the same bank.

Say I have a checking and a savings account at Bank of America for example, and I just got a $14,000 check. I'm wondering if you can put half in your savings and half in your checking.

Basically I'm trying to figure out a way to lower such a large deposit amount because isn't there a rule about depositing over like 8k at once it automatically gets flagged?

I could be off on this, but would appreciate any helpful info.

Thanks guys

Attempting to hide transactions or break them up to keep them under the reporting limit is illegal. It is called "structuring."

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DaddyHalbucks

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#14

05-09-2009, 10:07 PM

See here:

http://en.wikipedia.org/wiki/Smurfing_(crime)

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polish_aristocrat

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#15

05-10-2009, 11:13 AM

Originally posted by DaddyHalbucks

See here:

http://en.wikipedia.org/wiki/Smurfing_(crime)

Ok, this is stupid

Structuring includes the act of parceling large financial transactions into smaller transactions to avoid scrutiny by regulators or law enforcement. (.....) Typically each of the smaller transaction is below some statutory limit, that does not require a financial institution to file a report with a government agency. Criminal enterprises often employ several agents (smurfs) to make the transaction. However, even otherwise legal business practices can be considered a crime, as detailed recently by an article in Forbes magazine. [3] The article reports that even if "the money is from a legal source, the government can charge you with a crime and/or demand you forfeit cash" if you apply the structuring method knowingly.

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