Sam Spade wrote:
edbehnke wrote:
it just isn't fidelity. many now require a 'real' address for your accts.
And, as usual, some responders to this thread missed the important point. All of this hassle doesn't kick in until a LARGE sum of money is involved all in one chunk.
IF.....you have accumulated a lot of money in accounts with one company and then you change your address and take out small sums occasionally.....NO PROBLEM.
The problem comes in when you move a large sum all at once.
The Feds are trying to make the banks help root out money laundering to support illegal activities......terrorism mostly.
Most people will never run into this problem. First you need to have cash into 6 figures or more. Then you have to move a big piece of it all at once.
10,000 is the trigger. I deposited funds (a large amount) from a real estate deal. I went to take a large amount out and the bank informed me all what was going to be involved with that with the gov. :R
I ended up just taking out cashiers checks for under 10 as I needed it when I went full time to avoid all that.
