black thieves use white masks to rob check cashing shop

[s0me0nesmind1]

thats my point. who would pay a fee when the banks do it for free?

Money Laundering. Little to no record. If an illegal immigrant came in to cash a $50,000 check - do you think they would ask questions?

 

[AustinInDallas]

Money Laundering. Little to no record. If an illegal immigrant came in to cash a $50,000 check - do you think they would ask questions?

elaborate please

 

[Svnla]

thats my point. who would pay a fee when the banks do it for free?

A lot of people (millions or over 28% of US households) do NOT have any type of banking or credit union membership. It could be because of bad credit or previous check bouncing or whatever.

Link = http://www.forbes.com/sites/halahto...ber-of-americans-without-bank-accounts-rises/

If they get pay by checks, they have no choice but go to those check cashing places. Also, banks around here charge fees to cash check if you are not one of their clients.

Those places are high risks, from robberies to bad/fake checks to fake IDs and so on but they have very high profit margins.

<<----- knows a few folks in those types of businesses.

 

[s0me0nesmind1]

elaborate please

Banks have auditing all over their ass. That means dollars need to be accounted for at all times. If you have ever worked at a bank and one fo the teller's/cashiers behind the counter comes out of their shift off by $0.50 cents, they will be in DEEP SHIT. In addition, the person will likely have to have an account with the bank which includes handing over a drivers license + SSN (I'm not sure? I've never had to simply cash a check for straight cash). So if a lawn mowing company that doesn't pay taxes cashes in a bunch of check payments - that is a lot more likely to be tracked down. In addition, the same could be said for drug money I suppose. All money leads to somewhere.

At a place that makes some interest off cashing a check, they have no auditing nor do they really have an obligation to (AFAIK - someone else can correct me here). They simply use their liquid assets (cash) to exchange a check payment for their own cash money at the cost of a likely % fee of the check value. One is the most liquid form of money, the other is not. Also, the check place might be taking slight risks if the checks possibly bounce? Again, I've never been to these types of places, so I'm no expert.

 

[NikolaeVarius]

Money Laundering. Little to no record. If an illegal immigrant came in to cash a $50,000 check - do you think they would ask questions?

Are you kidding? Hell yes they would.

Banks have auditing all over their ass. That means dollars need to be accounted for at all times. If you have ever worked at a bank and one fo the teller's/cashiers behind the counter comes out of their shift off by $0.50 cents, they will be in DEEP SHIT. In addition, the person will likely have to have an account with the bank which includes handing over a drivers license + SSN (I'm not sure? I've never had to simply cash a check for straight cash). So if a lawn mowing company that doesn't pay taxes cashes in a bunch of check payments - that is a lot more likely to be tracked down. In addition, the same could be said for drug money I suppose. All money leads to somewhere.

At a place that makes some interest off cashing a check, they have no auditing nor do they really have an obligation to (AFAIK - someone else can correct me here). They simply use their liquid assets (cash) to exchange a check payment for their own cash money at the cost of a likely % fee of the check value. One is the most liquid form of money, the other is not. Also, the check place might be taking slight risks if the checks possibly bounce? Again, I've never been to these types of places, so I'm no expert.

So why do you keep saying things without giving evidence?

 

[CPA]

Banks have auditing all over their ass. That means dollars need to be accounted for at all times. If you have ever worked at a bank and one fo the teller's/cashiers behind the counter comes out of their shift off by $0.50 cents, they will be in DEEP SHIT. In addition, the person will likely have to have an account with the bank which includes handing over a drivers license + SSN (I'm not sure? I've never had to simply cash a check for straight cash). So if a lawn mowing company that doesn't pay taxes cashes in a bunch of check payments - that is a lot more likely to be tracked down. In addition, the same could be said for drug money I suppose. All money leads to somewhere.

At a place that makes some interest off cashing a check, they have no auditing nor do they really have an obligation to (AFAIK - someone else can correct me here). They simply use their liquid assets (cash) to exchange a check payment for their own cash money at the cost of a likely % fee of the check value. One is the most liquid form of money, the other is not. Also, the check place might be taking slight risks if the checks possibly bounce? Again, I've never been to these types of places, so I'm no expert.

ain't that the truth.

 

[s0me0nesmind1]

ain't that the truth.

Feel free to correct me 😛 I'm interested in the answers too given I haven't been to one.

Given the general stance of those types of places, I'm under the impression they don't give a shit as long as the check cashes and they get their interest.

 

[AustinInDallas]

A lot of people (millions or over 28% of US households) do NOT have any type of banking or credit union membership. It could be because of bad credit or previous check bouncing or whatever.

I had no idea it was so hard to get a bank account? I thought you just walk in and sign some papers.

So if a lawn mowing company that doesn't pay taxes cashes in a bunch of check payments - that is a lot more likely to be tracked down.

most of what you said didn't make sense, but this part did.

So these places make huge profits(the one in the link had 200,000 in cash at the time) because people cant get a bank account, and they want to avoid taxes? Amazing

 

[s0me0nesmind1]

I had no idea it was so hard to get a bank account? I thought you just walk in and sign some papers.



most of what you said didn't make sense, but this part did.

So these places make huge profits(the one in the link had 200,000 in cash at the time) because people cant get a bank account, and they want to avoid taxes? Amazing

Bank accounts pay you interest on holding your money. This interest is taxed. Hence, this data needs to be reported to the IRS every year come tax season. Typically done on a 1099-INT.

In order to know who it is that is earning this interest, as far as I know they need a social security number to properly report this.

 

[CPA]

Feel free to correct me 😛 I'm interested in the answers too given I haven't been to one.

Given the general stance of those types of places, I'm under the impression they don't give a shit as long as the check cashes and they get their interest.

My issue with your post is that you say all these things, then qualify them. Either support your stance or ask someone that may know something. Don't assume.

 

[W.C. Nimoy]

He's doing pretty good.

 

[W.C. Nimoy]

Jesus H Christ on a crutch, do you people ever get tired of trying to find racism in any and everything? The robbers were black men using mask of white men, that's the whole point of the fucking article, and mentioning it doesn't make someone a racist.

You people? You people?!

 

[alien42]

Jesus H Christ on a crutch, do you people ever get tired of trying to find racism in any and everything? The robbers were black men using mask of white men, that's the whole point of the fucking article, and mentioning it doesn't make someone a racist.

lol, Jesus H Christ on a crutch, do you people ever get tired of blowing a gasket over nothing? i pointed out a very simple fact that the thread title is "black thieves" yet the OP then posted "uhh, "they're" was referring to criminals. not a race."

my point is valid and you're response was that of a child, or racist, take your pick, lol.

 

[purbeast0]

lol, Jesus H Christ on a crutch, do you people ever get tired of blowing a gasket over nothing? i pointed out a very simple fact that the thread title is "black thieves" yet the OP then posted "uhh, "they're" was referring to criminals. not a race."

my point is valid and you're response was that of a child, or racist, take your pick, lol.

you're still a dbag for race baiting.

 

[Svnla]

I had no idea it was so hard to get a bank account? I thought you just walk in and sign some papers.

Well, it is not hard if your banking record is clean when the banks/CUs run the ChexSystems or similar things on you when you want to open a new account.

But if you had a few bouncing checks, unpaid fees, and other adverse actions against you before from previous banking institutions, then good luck with that.

Also, a lot of poor people are having problems with banks because of new requirements for free checking accounts such as higher minimum requirement (mine is $1,500), direct deposit, and so on.

It is not that rosy/easy if you dig a little deeper.

 

[alien42]

you're still a dbag for race baiting.

you really don't think the OP was race baiting?

the funny thing is i called them out on it and now i am the dbag?