Originally Posted by
Chimp
The banks official reason was that John was "no longer associated with a law firm" and the private banking level we were in was for attorneys.
The real reason, as far as we are concerned, was because of several years of both large deposits, large withdrawals, and many transactions just under 10K. I can understand how it looked like we were avoiding 10K deposits, but we explained to them that we have a rental property and the tenant rarely pays in one full payment for the month. And due to the rental amount, there were lots of 7-8K deposits, then 2-3K deposits a week later. And they were sometimes personal check, sometimes cashiers check, sometimes transfers. And on top of that John and I would transfer just under 10K each to fund our personal accounts. And then there were odd amount deposits of either checks or cash from gambling and cash withdrawals. So it's completely understandable that they were suspicious, but as I said, we could explain every transaction.
And if anyone is wondering why we put up with a renter like that, it is because he pays far more than anyone else would and, although he is not always consistent with the payments, he always pays.
Now, I don't want to say too much on this, but the renter is willing to pay us a premium because he cannot find many, if any, other place to rent or buy, due to past history. I know the bank is familiar with his name, unrelated to us. So it is possible for that to be part of the reason they were suspicious of us.
But I am surprised, Dan, to hear that you think it possible that they contacted the casino. But who knows.