[retiredguy123]

Originally Posted by dewilson58

Nope.
The reporting requirement is at $10,000.

True, but, even if the amount is greater than $10,000, I don't think the bank needs to determine where you got the money. They just need to report the transaction to the IRS.

[cj1040]

We have an act in NH and one at Citizens in The Villages....we pay from either one...they are used to out of state checks. We were going to get a mortgage at Citizens so we did that before closing but then found better rates on line.

[dewilson58]

Originally Posted by retiredguy123

True, but, even if the amount is greater than $10,000, I don't think the bank needs to determine where you got the money. They just need to report the transaction to the IRS.

Yes & No............they need to know where the cash came from.......what type of transaction ie: RE transaction, personal services, debt payment, etc.

[Dr Winston O Boogie jr]

Originally Posted by manaboutown

I retained my 30+ year old BofA account originated in CA which I can use all over the country. My Schwab account provides me with an ATM card I can use free anywhere, including at the convenient Citizens First ATMs peppered all over The Villages. Works for me.

My wife had an account with BoA. It was fine except they didn't have any golf cart accessible locations near us.

[Malsua]

We have owned in TV for several years now. We saw no particular need to change from our NJ bank which we like.

That said, Ebay changed their payment method and now requires access to a checking account. I was looking for somewhere to park money that didn't give Ebay access to our main checking account and I found Ally bank.

I have to say, I love it. No fee checking, you get a debit card and they pay a small bit of interest on balances as well. It has Zelle and transfers in and out have been a breeze. It also doesn't send up red flags if you transfer money into Crypto accounts like Coinbase or Kraken. It's an FDIC insured bank. My NJ bank cancelled those transactions on me 4 years ago. I would have had .2 bitcoin for $100!

Wire transfers are cheaper than my NJ bank and it has more features on the phone app than my NJ bank. Heck, even the picture taking for remote deposits is easier. Great bank! Banking, Investing, Home Loans & Auto Finance | Ally

[retiredguy123]

I like having a credit card issued by the same bank where I have a checking account. That way, I can discuss credit card issues with a live person. And, I can pay my credit card bill in a few seconds by just transferring money between accounts online from a single website.

[wmcgowan]

Originally Posted by Fuzzyjourneyfan

We do put most things on a credit card, but I was thinking that we would need a check to buy a used car. Can you use an out-of-state check to buy a used car in Florida?

I have used my credit card for automobile purchases - there is a limit to how much you can charge. ($2K?) However - It builds up point quickly that I mainly use for free rooms at Marriott when we travel- !

[Otis64]

jabacon——I, too, keep my acct in another state (with a credit union I’ve been with for over 40 years) because of their superior service. I also opened a BofA acct here in TV because I thought I needed access to all their ATMs and was unhappy about being charged when I used them. Found out from my CU that the ATM in front of Publix on 466 is part of a network that my CU belongs to & there is NO charge to use that ATM! Ask your out-of-state bank if they belong to the Co-Op network.

[laboutj]

Originally Posted by dewilson58

Nope.
The reporting requirement is at $10,000.

Wilson you are usually right on the money with your posts, but I have to correct you.

It is true that the reporting requirement is anything over $9999.99 to the fed, that is for any transaction. When it's a new customer the bank has to collect all kinds of personal information, like source of funds, whether you're a politically exposed person, etc...... The bank has to know who they are dealing with and there are KYC and OFAC rules in place that they must follow.

[DAVES]

Originally Posted by Fuzzyjourneyfan

We bought a house, but we will not be able to move in for a few months. We would like to open a checking account to buy large items, like a used car. Are there banks that you would recommend (or not recommend) for this purpose? Can we just use our out-of-state checking account in Florida (part time residence) or do we have to open a checking account in Florida? We will be in Florida several months out of the year.

A possible alternative. If, you have a brokerage account they offer free checking.
Were you to open a Florida checking account and use it to buy,"large items," you would need to have a large enough balance in the account so that checks do not bounce.
May be old news but a local check must be cleared by the bank in two days, an out of town check will take 10 days to clear. A credit card gives you many advantages including the right to cancel in 24 hours and more power to dispute any issues. The reason why some businesses refuse to take a credit card. IE the stereotyped used car lot that moves every week or three.

[Kay Hartt]

I moved here to TV about 5 years. I did my banking at BBandT in Greensboro, NC. I used the same account and just changed the addresses on the checks I ordered. Worked out fine on both ends. Then I suspected that some idiot from who knows where tried to hack me online. The BBandT just changed the numbers on my account and all's been well since. Kay.

[DAVES]

Originally Posted by Malsua

We have owned in TV for several years now. We saw no particular need to change from our NJ bank which we like.

That said, Ebay changed their payment method and now requires access to a checking account. I was looking for somewhere to park money that didn't give Ebay access to our main checking account and I found Ally bank.

I have to say, I love it. No fee checking, you get a debit card and they pay a small bit of interest on balances as well. It has Zelle and transfers in and out have been a breeze. It also doesn't send up red flags if you transfer money into Crypto accounts like Coinbase or Kraken. It's an FDIC insured bank. My NJ bank cancelled those transactions on me 4 years ago. I would have had .2 bitcoin for $100!

Wire transfers are cheaper than my NJ bank and it has more features on the phone app than my NJ bank. Heck, even the picture taking for remote deposits is easier. Great bank! Banking, Investing, Home Loans & Auto Finance | Ally

There is something magical about being able to speak to a local, human being.

I am in the process of dealing with a government organization. No phone that anyone will answer. Only option on line chat. You wait almost an hour. Your on line chat is with
#4008. You get no help. You get a note your time has expired. I do wonder if 4008 is human or artificial intelligence.

[Westie Man]

back in 99. She wanted an explanation from me and it felt like an interrogation. This was before the senior scams were common and I was not a senior.

[emb2458]

Citizens is the best. Pays the most interest. I switched to Chase. Terrible ATM and pays very low interest. They all don't pay much these days but I found Citizens First Bank is best over all. 352-753-9515

[Stu from NYC]

Originally Posted by Westie Man

back in 99. She wanted an explanation from me and it felt like an interrogation. This was before the senior scams were common and I was not a senior.

Why in the world would she even ask for an explanation if you are known to the bank as a customer?