Bank Atlantic users BEWARE!!!

Bank Atlantic ( in Florida ) is now monitoring all coin deposits to your accounts. I received this certified letter from Bank Atlantic last week for each of my four accounts that i have with them.

I could not get a satisfactoray answer as to why they were closing my accounts, but one of the branch managers i spoke with said it could be they were noticing alot of people looking at coins and returning them and will be putting a stop to it.

Closed one of the accounts today, and bank had to give me certified check.

Anyone else deal with Bank Atlantic get a letter? Any other banks doing this?

Wow, I would dispute this one all the way to the top. This is ridiculous.

Golden Silver

I wouldn't think you would cost a huge bank like that to much money. You and others. Looks like their parent company is taking a hard hit. Is this your main banking center? A lot of people have different accounts at banks with minimum balances that go dormant just so they can CRH. Fact is the majority of banks in Florida are in the crapper. They have probably quit giving away free suckers there lately just to save a buck.

Wow, I would dispute this one all the way to the top. This is ridiculous.

Golden Silver

WOW, that is spooky.

You know I have no job, no real bills other than utilities, plenty of food in closet so just do not write checks or use debit cards, but on very rare occasions like paying annual taxes or semi- annual insurance, other than that the ONLY thing use Bank accounts for is to launder clad (2 Banks) and the 3rd Bank as my Ebay one to sell Silver. If they closed my account(s) I'd be devastated- have to hussle to open another(s) elsewhere. Things are getting crazy way I sees it.

Sigh , I hope this isnt the beginning of the end. Well i am going to up the antie and hit even more banks.I am going to do little in boxes and just ask for loose or rolled halves , customer rolled dimes ,and bank or customer rolled pennies. Guess i am pretty lucky cause i got a bunch of tds in my area and most of the areas i go to.Also am learnin which other banks halve free coin sorters. I also send my wife to the close ones once a week.

This happened to me early on with a smaller bank chain locally that has been in financial problems.

I took it at face value and figured they are trying to remove any expenses from their system to remain soluable.

I'd recommend looking for a larger robust chain to do your business with.

just reading between the lines here.....i think what they are telling you is you are dumping too much at a time and they are having to report your dumps to the i.r.s.  one of my dump banks (the manager) politely asked me to limit my dumps to 8K on any one day just a few weeks ago, and said if i dumped more than that it required extra paper work on the bank.  so i have limited my dumps like he asked and have not had anyone say anything lately.  this bank has tried everything they can think of to get rid of me.  looks like this bank has found a way to get rid of you.....sorry dude

Bank Atlantic ( in Florida ) is now monitoring all coin deposits to your accounts. I received this certified letter from Bank Atlantic last week for each of my four accounts that i have with them.

I could not get a satisfactoray answer as to why they were closing my accounts, but one of the branch managers i spoke with said it could be they were noticing alot of people looking at coins and returning them and will be putting a stop to it.

Closed one of the accounts today, and bank had to give me certified check.

Anyone else deal with Bank Atlantic get a letter? Any other banks doing this?

How were you able to determine that Bank Atlantic is monitoring all coin deposits ? The letter indicates that they are monitoring your account but not all accounts.
I've had banks tell me that I could no longer dump there, but I never had one close an account on me.
How much, and how often were you dumping coin there?

just reading between the lines here.....i think what they are telling you is you are dumping too much at a time and they are having to report your dumps to the i.r.s.  one of my dump banks (the manager) politely asked me to limit my dumps to 8K on any one day just a few weeks ago, and said if i dumped more than that it required extra paper work on the bank.  so i have limited my dumps like he asked and have not had anyone say anything lately.  this bank has tried everything they can think of to get rid of me.  looks like this bank has found a way to get rid of you.....sorry dude

Make sure you are not "structuring deposits" which is agaist the law

The actual law is here:  http://www.law.cornell.edu/uscode/uscode31/usc_sec_31_00005324----000-.html

just reading between the lines here.....i think what they are telling you is you are dumping too much at a time and they are having to report your dumps to the i.r.s.  one of my dump banks (the manager) politely asked me to limit my dumps to 8K on any one day just a few weeks ago, and said if i dumped more than that it required extra paper work on the bank.  so i have limited my dumps like he asked and have not had anyone say anything lately.  this bank has tried everything they can think of to get rid of me.  looks like this bank has found a way to get rid of you.....sorry dude

Make sure you are not "structuring deposits" which is agaist the law

The actual law is here:  http://www.law.cornell.edu/uscode/uscode31/usc_sec_31_00005324----000-.html

That don't apply to CRH'ing, we are not trying to hide assets or profits. e.g. Kent Hovind when the IRS came after him structured withdrawals (of 1/2 million $'s) to be under reporting limits of 10K so  he could get all his money from Banks B4 IRS could get it. Kent is in Fed Prison, but he still has his money when he gets out in 2017 the IRS still wants it too. You can search Kent on Internet, he is a good guy that was chewed up by our corrupt gov. - law(s).

That don't apply to CRH'ing, we are not trying to hide assets or profits. e.g. Kent Hovind when the IRS came after him structured withdrawals (of 1/2 million $'s) to be under reporting limits of 10K so  he could get all his money from Banks B4 IRS could get it. Kent is in Fed Prison, but he still has his money when he gets out in 2017 the IRS still wants it too. You can search Kent on Internet, he is a good guy that was chewed up by our corrupt gov. - law(s).

The law does apply. By having the teller tell him to deposit a certain amount to avoid the filling he is structuring and the feds could if they wanted to prosecute for conspiracy. Will it happen probably not, but the law is on the books and will be used when needed.

HH,
65GT350

That don't apply to CRH'ing, we are not trying to hide assets or profits. e.g. Kent Hovind when the IRS came after him structured withdrawals (of 1/2 million $'s) to be under reporting limits of 10K so  he could get all his money from Banks B4 IRS could get it. Kent is in Fed Prison, but he still has his money when he gets out in 2017 the IRS still wants it too. You can search Kent on Internet, he is a good guy that was chewed up by our corrupt gov. - law(s).

The law does apply. By having the teller tell him to deposit a certain amount to avoid the filling he is structuring and the feds could if they wanted to prosecute for conspiracy. Will it happen probably not, but the law is on the books and will be used when needed.

HH,
65GT350

Yes in certain sense you are correct, they can do whatever they wish to US; we have so many laws in fact we could be guilty of violating one or more at their convenience or desire to persecute.

smurfing --going just under 10,000  the reporting amount day after day is something that drug dealers and other money "asset" hiders do to avoid the tax man & govt "banking" watch dogs

putting in 8,000 a day in coin on several differant days to avoid govt paper work and the "review" that goes with it at the 10,000 level --is clearly dodging the law -- simply put the govt wants to know when your handling large sums of cash / coins to monitor what your doing -- so your find silver or rare coins  by CRHing? --then selling them at a profiet to your local coin store ? in small say 500 dollar units -- are you "reporting" that income on your taxes cuz uncle sam wants to know and get "his" cut of your action .

the govt is just like the mafia --the little guys on the street can not hustle and  "earn" without the "boss" getting a cut or the little guy gets whacked for holding out on the boss-- yep same rules apply to both.

reading between the lines, i am guessing you have had lots of deposits in a short span and they triggered suspicous activity reports under the patriot act.  probably repeated SARs.  they made the business decision that your business is not worth the regulatory hassle.  i don't know how much coin you are depositing but when you think about it from the bank's point of view its a very reasonable decision.

Also, be aware that the magic number is 10k a day, but some banks have a corporate policy that emphasizes a lower threshold.  I've found that BOA triggers reporting on transactions that exceed $8,500.

Hardly "Florida's Most Convenient Bank" huh? Interesting post.

I deal with a couple of Banks, asked them if they were gonna SAR me, the responses were varied but all interesting- they all wondered how I knew about that; anyhow told them specifically what I was doing, one even said they are supposed to but since this person knows what am doing ,well you get my point. Besides what am doing is NOT criminal. And no am NOT paying taxes on what am selling either, & do NOT intend to, and no  do not have a friend in the Infernal Revenue Stealers office; what it is is  am unemployed, for over 18 months now (no Income at all), am laundering my static to dwindling savings searching for Silver, am living on less than and selling less than 4 or 5K a year which on the selling side puts me well below taxable threshold.

Bank Atlantic ( in Florida ) is now monitoring all coin deposits to your accounts. I received this certified letter from Bank Atlantic last week for each of my four accounts that i have with them.

I could not get a satisfactoray answer as to why they were closing my accounts, but one of the branch managers i spoke with said it could be they were noticing alot of people looking at coins and returning them and will be putting a stop to it.

Closed one of the accounts today, and bank had to give me certified check.

Anyone else deal with Bank Atlantic get a letter? Any other banks doing this?

Check this out this guy says banks may close many unprofitable Bank accounts in coming year.

http://finance.yahoo.com/tech-ticker/article/378528/Banks-to-Give-Customers-The-Boot-Analyst-Dick-Bove-Says?tickers=skf,xlf,bac,c,wfc,axp,WU