Originally Posted by susie0808
It's very similar with the banks but different. Lets say you decided to buy a long arm machine that cost $7,000.00 . You want to pay cash for it. So you go to the bank and with draw the money. The tellers will ask you what the money is for.I think it's none of their business. But they say it's the IRS that will want to know when their books get audited. Anything over 5,000.00 you have to tell them.
I work for a Credit Union and this statement is untrue. You do not HAVE to tell them anything-it is your money you have the right to say "It is none of your business"....
Hugs
April