Bill, a man who’s spent most of his life helping others, wrote to me about a bizarre banking encounter that happened after the holidays.
If you’re a charitable person, you need to pay attention to this.
In his words: “Close to Christmas I took $9,500 out of my Citibank account. I knew 19 families/women/girls who were in need, and I decided to give each of them $500.00. A total of $9,500.
Yesterday I received an urgent email notice from Citibank to immediately contact them about my account. Nervously, I called the number and spoke with a woman.
She said: ‘We monitor all our customers accounts and noticed last month you withdrew $9,500.00 from your checking account.’
“Yes,” I replied.
Then she asked, and I quote.
“What did you do with the cash?”
I was dumbfounded and asked her to repeat.
She asked: “WHAT DID YOU DO WITH THE CASH?”
So, I told her it was for Christmas presents.
Then she added, “Are you aware this amount is only $500.00 below the reporting limit the IRS has established?”
“Yes, I said. But that had no bearing on why I selected that amount.”
Needless to say, Bill was shaken.
And for good reason. Here’s a guy who (out of the goodness of his heart) blessed a lot of needy people and now he’s being harassed by the banking police.
His good deed has probably put him on a special watch list as a potential drug runner, terrorist, pedophile or enemy of the state.
These labels become very convenient when someone wants to make a case against you.
This is serious stuff. And it’s another reason why you need to keep money outside the banking system.
Learn how to protect yourself from a paranoid “Big Brother” (HERE).