Just transfer some money after opening the account for the initial deposit. Wait until the paperwork arrives, and signature card signed and returned, and transfer the rest.

Creating many smaller transfers is one way to get flagged.

>Just transfer some money after opening the account for the initial deposit. Wait until the paperwork arrives, and signature card signed and returned, and transfer the rest.
>
>Creating many smaller transfers is one way to get flagged.

DeluxeXL has been around this sub for awhile, I would put great emphasis on his tips.

Yeah bad idea. Like Deluxe said. Open an account. Make an initial deposit. The just transfe the full amount.

There's a difference between having your account frozen and having it reported to the federal government for suspicion.

The former you'd immediately feel. The latter not so much. Most likely you won't be frozen (too many legal hoops for the bank for that).

More likely they'd ask you to explain why you're doing it and how you got the money. And if it's a suspicious explanation or unclear banks are obligated to report the activity to the government and maybe rate you as more risky as a client.

Like another poster said, I'd be more worried about Wells Fargo 😅

There is nothing wrong with what you said because structuring is triggered when people deposit just shy of 10k to avoid the 10k reporting. For what it’s worth I have Wells Fargo checking and ally saving and when I first opened the ally and closed my Wells Fargo savings I transferred 40k +/- with no issues and regularly make 10-15k transfers with no issue

Yes, this is a bad idea.

Yes don't do that. That would be more suspicious and while likely wouldn't get frozen cmwould be more likely