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Banking issue

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  1. lechaim18 lechaim18 is offline

    Minneapolis, MN
    United States

    Posts: 43
    Joined: Jul 06

    Jan 6th, 2011 (1/6/2011 10:01pm)

    My bank recently provided me with a questionnaire asking me to provide details about deposits and withdrawals to my account. They want me to specify the nature of withdrawals being received by third party overseas processors. The bank threatened to close my account if i do not return the form within two weeks. I was wondering if any others have encountered this issue and how the dealt with it. I was advised by an accountant to be vague but truthful. For instance saying that I am buying and selling items.
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  2. aupoker1 aupoker1 is offline

    Posts: 1,753
    Joined: Sep 07

    Jan 6th, 2011 (1/6/2011 10:50pm) in reply to lechaim18

    if its not a huge hassle i would just change banks, or open up a new one at a different bank for poker
  3. MadTiger MadTiger is offline

    Akron, OH
    United States

    Posts: 6,506
    Joined: Feb 06

    Jan 6th, 2011 (1/6/2011 10:58pm) in reply to lechaim18

     
    Originally Posted by lechaim18 View Post

    My bank recently provided me with a questionnaire asking me to provide details about deposits and withdrawals to my account. They want me to specify the nature of withdrawals being received by third party overseas processors. The bank threatened to close my account if i do not return the form within two weeks. I was wondering if any others have encountered this issue and how the dealt with it. I was advised by an accountant to be vague but truthful. For instance saying that I am buying and selling items.

    Vague but truthful is the ticket.

    And, look for new banks anyway, regardless of how this comes out.

    I wish I would do some bank's fucking "homework" about my money. I would be gone with the quickness.
  4. captainhighfive captainhighfive is offline

    Bakersfield, CA
    United States

    Posts: 56
    Joined: Jul 10

    Jan 6th, 2011 (1/6/2011 11:09pm) in reply to MadTiger

    Does close your account imply that you cannot remove your funds prior to closing? Are you required by law, state or government, to fill out the questionaire?

    Note: I just remembered that Minnesota tried to get Internet providers to block online poker sites or something like that, right? It seems that Washington State is cracking down, and Minnesota has a history of distaste for online poker so they may follow suit soon. I hope this is strictly a state thing.
    Edited By: captainhighfive Jan 6th, 2011 at 11:32 PM
  5. MadTiger MadTiger is offline

    Akron, OH
    United States

    Posts: 6,506
    Joined: Feb 06

    Jan 6th, 2011 (1/6/2011 11:45pm) in reply to captainhighfive

     
    Originally Posted by captainhighfive View Post

    Does close your account imply that you cannot remove your funds prior to closing? Are you required by

    Haha, no, he would get his money. No Merge abandoned cashaments.
    Edited By: MadTiger Jan 6th, 2011 at 11:47 PM
  6. kiro15 kiro15 is offline

    ME
    United States

    Posts: 436
    Joined: Dec 05

    Jan 6th, 2011 (1/6/2011 11:54pm) in reply to lechaim18

     
    Originally Posted by lechaim18 View Post

    My bank recently provided me with a questionnaire asking me to provide details about deposits and withdrawals to my account. They want me to specify the nature of withdrawals being received by third party overseas processors. The bank threatened to close my account if i do not return the form within two weeks. I was wondering if any others have encountered this issue and how the dealt with it. I was advised by an accountant to be vague but truthful. For instance saying that I am buying and selling items.

    I don't understand this?
  7. gogonaw gogonaw is offline

    Bonney Lake, WA
    United States

    Posts: 20
    Joined: Dec 10

    Jan 7th, 2011 (1/7/2011 12:05am) in reply to kiro15

    curious as well to which bank is doing this...
     
  8. lechaim18 lechaim18 is offline

    Minneapolis, MN
    United States

    Posts: 43
    Joined: Jul 06

    Jan 7th, 2011 (1/7/2011 12:05am) in reply to kiro15

    When you deposit and withdraw from a site you are, in a sense, buying and selling poker site dollars
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  9. ztnark ztnark is offline

    Chicago, IL
    United States

    Posts: 82
    Joined: Nov 10

    Jan 7th, 2011 (1/7/2011 3:22am) in reply to lechaim18

     
    Originally Posted by lechaim18 View Post

    When you deposit and withdraw from a site you are, in a sense, buying and selling poker site dollars


    With that logic, you could say that any exchange of funds is, "buying and selling goods", right?
  10. lechaim18 lechaim18 is offline

    Minneapolis, MN
    United States

    Posts: 43
    Joined: Jul 06

    Jan 7th, 2011 (1/7/2011 4:21am) in reply to ztnark

    goods refers to something tangible
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  11. duffer230 duffer230 is offline

    Posts: 329
    Joined: Dec 07

    Jan 7th, 2011 (1/7/2011 4:25am) in reply to lechaim18

    the cash is tangible when withdrawn from the account = )
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