/biz/ - Business & Finance

Bank of america. They'll let you do anything if you pay them enough in fees.

>>6515977
>>6516057
just how stupid do you burgers feel now for fighting our bank secrecy (which still applies to swiss plebs, btw.)?

Td bank is giving me shit next time I try to buy and they block my transaction Im gonna switch banks

Regions Bank

>>6516160
Lucky that theyre only blocking transactions, I know someone who's Bofa account got terminated because of Crypto transactions.

Havent looked into credit unions yet

>>6516057
easily the best bank in terms of customer service. they stay out of ur shit and dont cause any problem where they dont need to

>>6516335
im calling bullshit on that.

>>6516408
I mean IDK man

I'm not shitting on Bofa or anything, just what I've heard/seen. I myself use Bofa, and the whole issue with banks is the only thing keeping me from going into crypto right now

I have Wells Fargo. I’ve never had more than 800 dollars in my bank account . Last week I transferrred like 60k in crypto and they froze it and called saying they need me to come in and speak to someone regarding this transaction. I’m scared honestly . What if they take my money?

>>6515977
Huntington is pretty dope, they've never had an issue with my weird online purchases; when my card got skimmed they fixed everything in minutes and sent me a new one in the mail a week later.

>>6516610
You dumb nigger. You're supposed to do it in small sums over months.

1. buy gold from website that accepts btc.
2. sell gold at coinshop.
3. use or deposit cash

>>6515977

etrade, they literally give 0 fucks about what i do, sent and received 5 digit transfers from bitstamp without them batting an eye. usaa froze my account when I tried sending money to cuckbase

>>6516610
Isn't it pretty weird that "your money" isn't really your money and a bunch of people can take it?

>>6516610


worst case they will propose you to take half and guive it for tax.

>>6516610
Fucking kek

OP to answer your question, I have a friend cash out in a country with no taxes and then wire me the money. So far I've had no problems.

You can fucking lie about your occupation to the bank, you know. You can say you're a super rich investor who makes millions per year. They can't do shit.

>>6515977

Anons listen, before you send in a huge transaction go in to the bank and talk to a banker they can help get it through without it getting flagged.

>>6516750
Yeah very wierd being an American where i am supposedly free

>>6516718

good way to do it

>>6516750
This is why all of you need to buy a giant fucking safe and put your money in it.

In fact, what if we started an insurance company for money?

coinbase > paypal > bank

>>6516793

time to do something about that

Have no problems in EU with SEPA transfers,but lately i'm getting some additional numbers and letter (after investigation i figured out it's a german code for "report this amout to finanzamt,it's like the german IRS") but don't care,not coz i'm not in germany but they'll gotta remind you who the master is

I haven't cashed out a lot at once but I am thinking Schwab is a good choice. They have a lot of good investment options too. Wells Fargo is 100% for mexicants

>>6516925
hello maximum amount of tax possible! And dont forget to audit me in a few years, looking forward to that

>>6516986

i've only taken out like $1K

>>6515977

Really interested in this as well. I had a tiny crypto investment go crazy and see over a 300x return so far. I made my initial purchase with my bank but I just don't know what good it's going to do when I go in and try to explain to someone that I turned a few C notes into nearly six figures.

>>6517117
I think its pretty good that you've bought in with your bank. They must be aware to some degree that the crypto market has boomed.

>>6517117
Thats my entire worry. I don't want to get into it until I have a reliable way of turning it into usable currency.

>>6517176
please don/t just,don't,you'll become a proud owner of a pink wojak folder.

>>6517172

Yeah but that was just the initial go in. I bought a shit coin and used shape shift to do my first few transactions before I knew I had to ever pay tax or keep a record of this stuff. One of the ones that went nuts was from like $2 worth of BTC from faucets. I have about 5 coins I have been sitting on for a few years and they all have gone up far past my expectations.

I'm hoping to find a tax person to help me get a game plan sorted for keeping me in the clear then having a chat with someone from my bank about not getting my account closed down.

If you are bringing in money from foreign exchanges to your account the bank will probably file a suspicious transaction report. I don't know if the IRS later uses these to verify whether or not you filed the paperwork for foreign accounts which crypto exchanges would qualify as. Most of you won't do it because you didn't know and won't ever get caught, but some of you will. It is a $10,000 fine for failing to file FBAR. Most of you who owe capital gains taxes won't have the cash to pay the bill and won't be able to get the money in time if it is a large sum. Everyone dealing with crypto should file an extension this year to wait and see if the IRS clarifies any rules. With all the new buyers there will be tons of errors I'm sure.