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Originally Posted by thinkx
they do but anti-money laundering laws require 100k+ movements, talk to your bank tell them your biz and what you do. And if you told them youre doing internet designish kinda stuff - this would be a good moment to check if they accept adult. Cause if they dont then this is the beginning of the end Im afraid. If they do, sort it out, if youre receiving 10ks of checks they gotta relax imho.
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Na thinkx!! There are varying reasons for asking for "source of funds" (too many to list here) and these start at $10K. Both the bank and financial regulatory authority know exactly what the corps do - they are really not interested in having opinions on the adult biz - that's perfectly legal.
BTW... It's not that there is a number of wires/checks totalling $10K - the banking regulators only require a source of funds where any one receipt is $10K or over.
It was actually easier to provide data to the regulatory authority and have them then issue a document to cover all transactions and give the bank a copy, tho is is prob not normal but also covers large money values in other non-adult business.