Cash or credit?

[Guest]

On 5/8/2021 at 3:15 PM, DrownedBoy said:

...

Finally, I'm worried about getting my cash withdrawals reported. Taking out as little as 2K over a series of withdrawals in the U.S. can cause the bank to file a SAR against you, without informing you. And that scares the s**t out of me - more dangerous than using a CC!

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Those forms are used to report a suspicion of money laundering. Unless you're involved in money laundering, I don't see the worry. I highly doubt the Feds have any interest as to whether or not you hire escorts. Worry more about your local PD's vice cops. Now if an escort doesn't report money he earns via credit cards, he could be in trouble...

[Islesguy]

On 11/6/2021 at 3:03 AM, Tygerscent said:

Oh… It’s funny about the Scottish £~ 

 I was in the UK and a busy boy a good four months out of they year prior to the pandemic~ (2012 to 2020).

 When I first started working there one of my Clients gave me a combination of British and Scottish £~ I hesitated~ They caught that and reassured me that there was no problem with the cash. I did ask if I could spend that in London and they said yes there’s no problem, they’re interchangeable. It was a little confusing for me but, I took him at his word~ 

 In my complete ignorance, I actually was unaware that Scottish £ were a viable thing~ 

 I don’t know why but, I think I had this idea that there was just the one currency. I think this idea came from the EU because, once those countries joined together, there was only the euro. You didn’t see drachmas, Lire  and all that other stuff anymore. So some part of me was just a little bit cautious that maybe the Scottish £ were also obsolete~
 They were, of course, fine~ 

 

You may not be aware of this but there are a couple cities in the US that issue their own paper currency. It's perfectly legal as you can spend them only in the cities they are issued. 

[+ Tygerscent]

3 hours ago, Islesguy said:

You may not be aware of this but there are a couple cities in the US that issue their own paper currency. It's perfectly legal as you can spend them only in the cities they are issued. 

Oh ya… I just looked that up~
 Interesting~
 https://www.budgettravel.com/article/four-towns-that-have-their-own-currency_12433
 
Now I want to see how they deal with the exchange around tax time~ Is that considered “foreign income”~?

[Kurtkri]

US specific question: This is more of a question for clients - On average, how much does a person spend on an annual basis spending time with providers? Let’s say one spends $10,000 per year, that’s a lot of trips to the ATM - even spread out throughout the year! Would that raise suspicion? In that case, using Zelle/Venmo/Cash App would make sense right?

[+ FrankR]

42 minutes ago, Kurtkri said:

US specific question: This is more of a question for clients - On average, how much does a person spend on an annual basis spending time with providers? Let’s say one spends $10,000 per year, that’s a lot of trips to the ATM - even spread out throughout the year! Would that raise suspicion? In that case, using Zelle/Venmo/Cash App would make sense right?

I dont think any of us can speak with confidence on “how much” others spend. Let’s assume you see a provider twice a month and they charge $300 for an hour. Plus expenses (travel, meals etc) So let us call it $800 a month. Getting $800 a month from the ATM doesnt seem like a hardship or suspicious. My dry-cleaners don’t accept cards. I prefer to pay cash when I buy the paper. I pay the dog sitter in cash. There are many reasons why someone would need cash. I get the same amount from the bank every month - except December when I take out about double to pay holiday bonuses.