Someone, who may or may not be me, is going to drop ~$5k cash into their checking account today. I realize this is under the CTR threshold. But will an SAR be filed? Despite what you big dicks believe about me, I’m not balling out of control throwing down several $k each week in and out of my bank account.
I think it’s $10,000 threshold. That’s what it was when I worked at the bank in 206.
They can also file one if it’s a repeated pattern. THat is, if you drop $9,999 today, $9,999 tomorrow, $9,999 the day after that, etc. But $5,000 once probably won’t pass muster.
A single deposit of $5k won’t sound any alarms. If you did it several times over the course of a year, yeah, it’ll show up on someone’s radar.
It’s my understanding that you would have to make a few other “unusual” deposits within a month or so for the bank to even think about filing SAR. That’s like 5th hand knowledge though. Even if a SAR is filed though, so what? You’re not laundering money or something else illegal, right?
What makes this unusual, is I keep less than $600 in my checking account at all times. I keep just enough to avoid a maintenance fee. All of a sudden $5k is coming in, I don’t want that single deposit causing a spike in my daily average balance to raise eyebrows.
And Higgy, I refuse to answer that question under the grounds that my answer may incriminate me. I wish to exercise my rights under the 5th and 6th Amendemnt do not consent to any search of myself, my property, or my surroundings. 
officially, $10k+ will trigger a report
but banks are free to report anything under if deemed suspicious. (like $9800 in multiple transactions)
one $5k will be fine. no one will care about that low amount.
You wish to exercise your right to a speedy trial?
My least favorite assignment I can get is dealing with SARs and CTRs. Even if one is filed, I wouldn’t stress it. But to answer your question:
Banks, bank holding companies, and their subsidiaries are required by federal regulations53 to file a SAR with respect to:
- Criminal violations involving insider abuse in any amount.
- Criminal violations aggregating $5,000 or more when a suspect can be identified.
- Criminal violations aggregating $25,000 or more regardless of a potential suspect.
- Transactions conducted or attempted by, at, or through the bank (or an affiliate) and aggregating $5,000 or more, if the bank or affiliate knows, suspects, or has reason to suspect that the transaction:
- May involve potential money laundering or other illegal activity (e.g., terrorism financing).
- Is designed to evade the BSA or its implementing regulations.54
- Has no business or apparent lawful purpose or is not the type of transaction that the particular customer would normally be expected to engage in, and the bank knows of no reasonable explanation for the transaction after examining the available facts, including the background and possible purpose of the transaction.
Based on what you’ve stated, a SAR would automatically get filed
^ That, and assistance of counsel.
I don’t mind if an SAR is filed. There is no malice in play here. I guess I don’t want the funds frozen while they sort through their red tape BS.
It’ll only occur if your black and don’t wear a bow tie.
^You’re. But respect.
haha thanks dude.
Its cool. Their wasn’t no disrespect intended.
Unless you are at a small community bank that doesn’t have it automated. I’d just assume that if you are at a large bank, the $5000 will trigger something in the programs that do that stuff. But like I said, doesn’t really matter either way.