ATM withdrawal information processing
- Thread starter Educate
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only if the debit card is issued by a real bank. If it is some of the EMI providers around you don't get reported. Anyway, it's possible to trace a debit︀ card if the tax man want to monitor you he can! So better find a︁ way to hide your name and identity!
What about Revolut and similar apps?
Also, don't confuse this with CRS and FATCA. This is a question about whole another issue. It is about ATM withdrawals of large amounts. Legal money, legally earned, just withdrawn in large amounts.
In this case, the "reporting" might come from︀ the institution who owns the bank ATM and not the one that issued the card.︁
Does that make sense?
Also, don't confuse this with CRS and FATCA. This is a question about whole another issue. It is about ATM withdrawals of large amounts. Legal money, legally earned, just withdrawn in large amounts.
In this case, the "reporting" might come from︀ the institution who owns the bank ATM and not the one that issued the card.︁
Does that make sense?
Exactly, why would they? Unless there are laws which makes "amounts withdrawn above X" being automatically flagged and reported for "suspicious activity". Also, not sure how to get anonymous card without using darks? EMIs require you to register your data. For larger sums there needs to be proof of income. Good luck getting that with a dark. Are there maybe any EMIs that provide disposable ATM cards with custom name (so you can change name not to match yours?)
all information is available to the MC / Visa card association so that means your name will be traceable at any time. If the banks report your card because of large amounts you take out of the ATM's you are pretty much fucked, sorry to say so.
Only way out of this control circus is to get a 100% anonymous card somehow!
Only way out of this control circus is to get a 100% anonymous card somehow!
It seems obvious to me that every bank transfer, card payment or withdrawal are under the sharp eyes of the local taxman where it is made. I guess there are some newbies, here...
it's not obvious - at least not for me - how can you support this opinion?
say a German guy goes on holidays to Italy and makes withdrawals of 10k EUR in total during one week from the local ATM (legitimate reason can be for example gambling or whatever people spend bigger money for) - do you think anybody cares? I don't
say a German guy goes on holidays to Italy and makes withdrawals of 10k EUR in total during one week from the local ATM (legitimate reason can be for example gambling or whatever people spend bigger money for) - do you think anybody cares? I don't
if it's for vacation then it's something different. The card will be used X time during one week and never again after so it's easily understandable as someone in vacation. I do believe OP is going to withdrawal︀ a few times every month for a long period. Moreover, this will probably take place︁ in the same neighborhood/city, then the answer I believe is YES : They will know︂ the name of the card holder and can start investigating on those big frequent withdrawals.︃ I would suggest you to travel, cash and bring the cash back where you live︄ or get an anonymous debit card if it exist.
Why would ATM owners give a s**t if nobody complaints about card being stolen or anything?
And if they do care, then what are the limits for withdrawals that they start triggering as suspicious. And which law stipulates it?
Because ATMs belong to a bank. Bank gets commission for every withdrawal. It is not in their interests to report anything unless required by law. Law requires some minimum sum to be reported. It is usually precise.
And if they do care, then what are the limits for withdrawals that they start triggering as suspicious. And which law stipulates it?
Because ATMs belong to a bank. Bank gets commission for every withdrawal. It is not in their interests to report anything unless required by law. Law requires some minimum sum to be reported. It is usually precise.
Tax people care, just transmission of data from ATM, if you're on internet you use VPN I suppose, it's the same you can never be too much carfefull especially with off shore accounts, now everybody says to be discreet, just do as you want but do not complain afterwards
You seem to forget that a bank does not only what's in their interest. They are a regulated body. Do you think not accepting cash and reporting client is in their interest ? of course not, but they do it because they have to.
So even if they're getting a few coins when you cash money, if they have to report multiple big︀ withdrawal from the same debit card, they will do it.
So even if they're getting a few coins when you cash money, if they have to report multiple big︀ withdrawal from the same debit card, they will do it.
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