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How do people make wires for millions like it's peanuts?

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PinkCat

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Dec 20, 2022
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#1
I have all sorts of accounts (biz and personal) in several jurisdictions, all legit and clean and still moving amounts bigger than few 10s of thousands is often acompanied with temp freezes, calls, additional checks and what not. Yet people are moving millions, even billions like it's nothing. What kind of setup you need to have in order to be able to move large amounts just like small amounts?
 
#2
I have found that once you have capital it is best to create a new account and declare your intention to use the new account to move a lot of money and since your net worth corresponds to the sums being moved it doesn't trigger any alarms.

Alternatively, private banking is designed exactly for this purpose. CS will move millions for you with very few questions.
 
#6
PinkCat said:
Well I have it, but not everyone accepts it, so banks are still needed unfortunately.
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this is getting better month by month

until then you need to build your image of HNWI and generate artificial turn over which fools silly banking systems based on these metrics
I personally move all my fiat between my 37 accounts :D - in Europe this can be done at no (or very low) cost and the initial setup pays off
 
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#7
Banks have your transaction profile they know your usual transfer amounts and destinations. If you're wealthy and keep several million USD worth of assets with the bank then a $1M bank wire will not raise too much attention and it will be easily executed. If you have a bank account like average joe then a $100K transfer will instantly be flagged by the algo.
 
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#8
turtle said:
Banks have your transaction profile they know your usual transfer amounts and destinations. If you're wealthy and keep several million USD worth of assets with the bank then a $1M bank wire will not raise too much attention and it will be easily executed. If you have a bank account like average joe then a $100K transfer will instantly be flagged by the algo.
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Exactly and as long as you have a solid SOF and can feed the bank what they want, then you are good to go.
 
#10
JohnnyDoe said:
Good photoshoppers solve the issue for $20 a piece
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Using Photoshop has limitations, and while it may suffice for smaller transactions in the low four figures range, it becomes worthless when dealing with larger amounts. Have you had any experience working with compliance officers before? If not, consider taking an AML course to understand how they identify unusual transaction patterns. Although it can be a cumbersome process, it is fascinating nonetheless and will make you have a basic understanding of how these people operate.

Returning to the topic at hand, if you have the resources, it does not make sense to compromise a transaction worth thousands of dollars or more by using a cheap tool like Photoshop. Instead, you could create an operational company that is not tied to your name and invoice this company for work done, ensuring that you have a contract in place as an independent contractor and that you are billed at a specific rate per hour.
Some individuals go the extra mile and match the job to their professional background, ensuring that there is proof of work in case of any inquiries by law enforcement. This way, no one can question whether or not the work was done or how much you pay your workers. It is none of their business. To take it further, consider having your contracts notarized. Bam, now you have a bulletproof source of funds that can break through any compliance wall that most financial institutions have in place.

But yeah, It makes absolutely no sense to have a transaction worth four to five figures be frozen or blocked simply because you chose to use Photoshop and skimped out on the proper steps.
 
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#20
lacomaco said:
It matters if the currency in which you move your money and where you keep your profits could lose so much in a short period of time, that is why
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This is called vola. It also works the other way around. Its mental model and some adjustments you need to deal with this.

Have you moved some into Bitcoin in Mid-Nov, Dec and early January, you are up almost 100%.
 
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