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#12
02-15-2007, 01:20 PM
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Re: Stars checks can no longer be over 5k
i dont know but it is certainly not a bad thing.
could even just be a security issue (so they know funds are not lost). hell whatever the case its my a goal to get a wire instead of a check next time. 
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#13
02-15-2007, 01:31 PM
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Re: Stars checks can no longer be over 5k
Or just in case this processor goes down, clients don't have 50K chargebacks to their account if the check doesn't clear.
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#15
02-15-2007, 01:37 PM
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Re: Stars checks can no longer be over 5k
I think they did pick up a new check processor. I just got a check yesterday that was 5,000>My Check>1,000 and it was some processor I hadn't heard of before.
The check did not come by currior, however, it did arive only 4 days after I requested it. Also, the processor's address is in the same city as me, which I thought was wierd. Finally, it was drawn from a major U.S. bank.
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#16
02-15-2007, 02:27 PM
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Re: Stars checks can no longer be over 5k
[ QUOTE ]
request 8 $4,999 checks? [/ QUOTE ] Don;t do this. The Treasury department may consider this structuring transactions to keep them below $10,000 or another amount to reduce potetial reporting of the transactions by your bank to government as is required for all transactions over a certain amount. It is a serious crime.
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#17
02-15-2007, 02:39 PM
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Re: Stars checks can no longer be over 5k
Y'all are leaving a trail so solid that the IRS et al couldn't miss it even if they wanted to.
Enjoy!
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#18
02-15-2007, 02:41 PM
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Re: Stars checks can no longer be over 5k
Dont matter if you pay your taxes.
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#19
02-15-2007, 03:10 PM
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Re: Stars checks can no longer be over 5k
[ QUOTE ]
[ QUOTE ] request 8 $4,999 checks? [/ QUOTE ] Don;t do this. The Treasury department may consider this structuring transactions to keep them below $10,000 or another amount to reduce potetial reporting of the transactions by your bank to government as is required for all transactions over a certain amount. It is a serious crime. [/ QUOTE ] Those reporting requirements are only for cash transactions. Checks don't get reported.
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#20
02-15-2007, 03:17 PM
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Re: Stars checks can no longer be over 5k
[ QUOTE ]
Those reporting requirements are only for cash transactions. Checks don't get reported. [/ QUOTE ] False. Any suspicious activity can, and is, reported. Cash, checks, ACH's, wires, whatever.
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