Wire transfer question

[Tytan]

what happens if 100 people wire you money? at the same time


won't get blocked because of the amount going in

[Mr.Fiction]

It depends how thick your bank's wire is.

[Chio The Pirate]

what happens if 100 people wire you money? at the same time


won't get blocked because of the amount going in

YARGH! Nope not blocked. A bank is not paypal.

[Kimmykim]

Would depend on your bank as to whether or not they decided to investigate. And if the wires are for 5k or more each, every one will trigger a cash transaction report to the IRS.

[Chio The Pirate]

Would depend on your bank as to whether or not they decided to investigate. And if the wires are for 5k or more each, every one will trigger a cash transaction report to the IRS.

YARGH! I thought it was 10K, did it change since 9-11? I get large wires all the time, and so far the IRS hasn't come sniffin' around me big boat. Thank god

[Tytan]

hi

Would depend on your bank as to whether or not they decided to investigate. And if the wires are for 5k or more each, every one will trigger a cash transaction report to the IRS.

ok thanks for that

[DateDoc]

If you are in the US and you receive more than $10K the bank is required to file a CTR (currency transaction report) with the govt. This can be one deposit over 10K or two or more deposits from the same individual totalling over $10K. If you received 100 wires at once I am sure it would set off a few alarms at the bank and they may file an SAR (suspicious activity report). If you have not done anything illegal you have nothing to worry about. You may have to answer a few questions for the bank and one or more govt agencies though.

[DateDoc]

YARGH! I thought it was 10K, did it change since 9-11? I get large wires all the time, and so far the IRS hasn't come sniffin' around me big boat. Thank god

No, it is still 10K.