Structuring is WAY worse than getting 10k reported. They'll shut you down, in the best case - freeze your assets, in the worst
Have them send you a wire transfer. How much did you “let” someone use your card for?
what would be the best way to get paid back by someone who used my card? I dont want to run the risk of the account getting flagged and i also dont want to deposit more then 10k for that to get flagged. Would it help if i made 8k deposits daily until i get paid back or will that get flagged as well?Any help is appreciated.
+1 Stay away from structuring. IRS comes down very hard on this.
Quotes in a signature is annoying, as it comes across as an independent post.
More than that- Structuring is actually illegal, while depositing 10K+ is obviously not (although they may look at what else you’re doing)
Not so obvious, many people think that depositing over 10k cash is illegal. Which leads them to structure. Structuring is only for cash. You can legally deposit checks in any amount. Whether one big check or several small checks is better from a Chase POV, that I don't know
I find it hard to believe this was the reason, might've been the final straw.
they got burned big time once and don't want it to happen again.
Chase is among the strictest when it comes to things like this, they got burned big time once and don't want it to happen again.