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317 Million Now.

Topic closed. 30 replies. Last post 2 years ago by lejardin.

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Baton Rouge, LA
United States
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May 7, 2004
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Posted: February 1, 2015, 9:15 pm - IP Logged

Yeah, I'll stick to buying one ticket as well.

I have one ticket for myself and I'm in a pool with 3 tickets that will be divided between 11 people if one wins.

Prisoner Six

"I am not a number, I am a free man!"

    lejardin's avatar - Lottery-014.jpg

    United States
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    November 4, 2011
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    Posted: February 1, 2015, 9:47 pm - IP Logged

    You gotta do what's right for you. Can't understand why people get upset if a winner waits to cash in a jackpot. Not sure I could wait several months. I think I would wait about a month which would be long enough to get the professionals lined up.

    Then again, I'm always thinking it might be better to just take the cash out of the bank and make my own secret bank vault. If you don't actually have it in your possession, you don't have control of it.

    A side note: I have a checking account, and a little savings account which is my "rainy day" fund. So if I happen to have more than 3 "rainy days" in a 30 day period, and I make more than 3 transfers or withdrawals from my savings account within 30 days, I get a friendly reminder from my bank that federal regulations prohibit that. Imagine that. MY MONEY. But they tell me how often I can get MY MONEY.

    If it's not in your hands, you don't have control.

    Good luck.

    was wondering the same thing, is there any bank that doesnt have restrictions on how much you can take your own money out?  These are issues that would need to be determined before putting the funds there.  Fdic provides coverage of $250k lol. I know $5000 at a time was the threshold to withdraw and the bank has to notify the federal government.  I believe this was due to the Patriot Act and money laundering.  You will have had to paid taxes before you got your winnings so wouldnt think there would be any problem withdrawing large sums of money?  I too, want it in my possession and will decide what, when and where.  It's not that I dont trust the banks and government, I just don't trust banks and government, lol. 

    Cypress ring a bell? 

      Taurus$'s avatar - Lottery-043.jpg
      Ft. Washington, MD
      United States
      Member #159267
      September 20, 2014
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      Posted: February 1, 2015, 10:22 pm - IP Logged

      l attempted to follow the example of the recent Jackpot winner from NY by purchasing 10 tickets for last night's draw..have not checked them yet . One thing is for certain- l did not win the grand prize. 

      As for " telling people to play"- we have huge flashing billboards on the side of Highways/ Freeways/ Innerstates out here advertising the Jackpots.Enough said. .

      yeah it sucks. You went with ten ticks and you know you didn't pull it off even though you were hoping it might turn in to something worhwhile if not the jp. My pool at wrk did 8 ticks and we only got back 2 bucks.

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        NY
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        October 16, 2005
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        Posted: February 2, 2015, 3:38 pm - IP Logged

        "is there any bank that doesnt have restrictions"

        Every bank that's not subject to US regulations.

        Of course the restriction really isn't a problem for most people. The limit is actually six, not three, and applies to certain transactions and only applies to savings accounts and money market accounts. You can walk in and ask a teller for a withdrawal  or use an ATM every day if you want to since those transactions aren't limited. Alternatively, you could keep enough in your checking account that you don't need to get money from a different account every 5 days.

          mikeintexas's avatar - tx avatar-1.gif
          Texas Panhandle
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          December 20, 2012
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          Posted: February 2, 2015, 6:21 pm - IP Logged

          was wondering the same thing, is there any bank that doesnt have restrictions on how much you can take your own money out?  These are issues that would need to be determined before putting the funds there.  Fdic provides coverage of $250k lol. I know $5000 at a time was the threshold to withdraw and the bank has to notify the federal government.  I believe this was due to the Patriot Act and money laundering.  You will have had to paid taxes before you got your winnings so wouldnt think there would be any problem withdrawing large sums of money?  I too, want it in my possession and will decide what, when and where.  It's not that I dont trust the banks and government, I just don't trust banks and government, lol. 

          Cypress ring a bell? 

          I used to think that any single transaction (withdrawal or deposit) under $10k was "safe" but I recently read that multiple transactions in a year for $10k or more total from the same agent must be reported.  Also, any "suspicious" activity (withdrawal or deposit) of $5k or more from someone who doesn't normally make those types of transactions "can" be reported.   I believe in some cases the bank's reporting the activity to the govt. means they also have to notify the person doing the activity, but it can be months after it's been reported.  (I know if MY bank reported me for "suspicious" activity that would be the very last thing they'd do with anything to do with my funds)

          I've made some fairly large transactions (well, to ME, anyway), one not but ten or so years ago - I sent a cashier's check for $9500 to a friend (a loan repayment w/ interest), thinking it was just under the threshold and it must have been OK b/c I never got any notification about it.  OTOH, I did notice a federal inquiry on a credit report not long afterwards. 

          You can get around the $250k FDIC max insured funds by depositing larger amts. in banks that participate in the Certificate of Deposit Account Registry Service (CDARS).  You make the $250+ deposit and they spread the extra around to other banks that also participate in the program.   (There's a bank in the area I want to move to if I win that participates in that program, they pay 1.5% on five yr. jumbo CDs but I don't know if that would be what would be paid on the other accounts.) There's another program for money market accts.

          I agree 100% with you about banks and govt.  I have friends who live in Cyprus and have meant to ask them how they fared with their money, but keep forgetting.   They're good online friends, have been for 15 yrs., but I'm also loathe to ask such a personal question.  I think they were OK when the dust settled.

          I've read several horror stories of people carrying large sums of cash and being stopped for a traffic violation and consenting to a search, knowing they hadn't done anything wrong (other than speeding or whatever caused them to be stopped) and having their money confiscated.  Not long ago a woman here in the Panhandle had that very thing happen to her;  she was an antiques dealer and went to a lot of estate sales and carried cash (and a pistol in her purse)  because so many of them will only take that or certified checks.  It took her nearly a year and a good chunk of the money the cops took from her to get it back.   Sure, a lot of the time it's drug money, but I think this case was one of the cops not wanting to admit they were wrong and hoping maybe she'd just give up and let them keep the money.

            rcbbuckeye's avatar - Lottery-043.jpg
            Texas
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            October 23, 2007
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            Posted: February 3, 2015, 8:49 am - IP Logged

            "is there any bank that doesnt have restrictions"

            Every bank that's not subject to US regulations.

            Of course the restriction really isn't a problem for most people. The limit is actually six, not three, and applies to certain transactions and only applies to savings accounts and money market accounts. You can walk in and ask a teller for a withdrawal  or use an ATM every day if you want to since those transactions aren't limited. Alternatively, you could keep enough in your checking account that you don't need to get money from a different account every 5 days.

            On the occasion that I have made more than "3" withdrawals or transfers out of my savings account within a 30 period, I have gotten a letter from the bank explaining that federal banking regulations limit such transactions to 3 per 30 days. When I investigated this on the bank's website, which took  some hunting, I found the same explanation. Doesn't matter if I transfer via website, or atm, or teller.

            It's not a problem for me usually. But there have been a few times that something unexpected came up that I needed my money. And it is my money. And people should not be told how to handle their money by a government. It's the principle of the matter.

            CAN'T WIN IF YOU'RE NOT IN

            A DOLLAR AND A DREAM (OR $2)

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              Kentucky
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              Posted: February 3, 2015, 9:10 am - IP Logged

              Yeah, I'll stick to buying one ticket as well.

              Based on the ticket sales for Saturday's drawing, there was only a 21% chance of somebody winning the jackpot. It's been almost a year when 91.5 million tickets were sold for one drawing; what jackpot amount do you believe will trigger a ticket buying frenzy?

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                Maryland
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                January 2, 2015
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                Posted: February 3, 2015, 9:12 am - IP Logged

                On the occasion that I have made more than "3" withdrawals or transfers out of my savings account within a 30 period, I have gotten a letter from the bank explaining that federal banking regulations limit such transactions to 3 per 30 days. When I investigated this on the bank's website, which took  some hunting, I found the same explanation. Doesn't matter if I transfer via website, or atm, or teller.

                It's not a problem for me usually. But there have been a few times that something unexpected came up that I needed my money. And it is my money. And people should not be told how to handle their money by a government. It's the principle of the matter.

                The basic issue at hand is the TYPE of account.  If I understand correct back in the late 90's the government put these rules on savings accounts vs a checking account as to define the difference between the two.  Right now with the SUPER low rates on savings accounts, to me doesn't make sense to have one.  Just use a checking account and you should be all set.  Also try contacting your credit union for more info they seem to want to take the time to explain things like this. 

                Looking forward to hitting PB tomorrow and then not worrying about a $3 fee or so to do more than 3 transactions out of an account -- Thumbs Up

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                  Kentucky
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                  Posted: February 3, 2015, 9:28 am - IP Logged

                  On the occasion that I have made more than "3" withdrawals or transfers out of my savings account within a 30 period, I have gotten a letter from the bank explaining that federal banking regulations limit such transactions to 3 per 30 days. When I investigated this on the bank's website, which took  some hunting, I found the same explanation. Doesn't matter if I transfer via website, or atm, or teller.

                  It's not a problem for me usually. But there have been a few times that something unexpected came up that I needed my money. And it is my money. And people should not be told how to handle their money by a government. It's the principle of the matter.

                  Some banks offer interest bearing checking account, but with enough money to buy a small country, I doubt most people would keep the majority of their money in tiny interest bearing savings or checking account.

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                    NY
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                    Posted: February 3, 2015, 4:51 pm - IP Logged

                    On the occasion that I have made more than "3" withdrawals or transfers out of my savings account within a 30 period, I have gotten a letter from the bank explaining that federal banking regulations limit such transactions to 3 per 30 days. When I investigated this on the bank's website, which took  some hunting, I found the same explanation. Doesn't matter if I transfer via website, or atm, or teller.

                    It's not a problem for me usually. But there have been a few times that something unexpected came up that I needed my money. And it is my money. And people should not be told how to handle their money by a government. It's the principle of the matter.

                    You can handle your money any way you want to. When you voluntarily deposit it in the federal banking system you have to follow federal banking regulations.  Those regulations restrict certain transactions on money market and savings accounts to 6 per month.  If your bank really thinks the federal limit is 3 you might want to think about finding a bank that knows what the rules are.

                      DetroitLionBoy's avatar - Detroit01

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                      Posted: February 3, 2015, 4:57 pm - IP Logged

                      On the occasion that I have made more than "3" withdrawals or transfers out of my savings account within a 30 period, I have gotten a letter from the bank explaining that federal banking regulations limit such transactions to 3 per 30 days. When I investigated this on the bank's website, which took  some hunting, I found the same explanation. Doesn't matter if I transfer via website, or atm, or teller.

                      It's not a problem for me usually. But there have been a few times that something unexpected came up that I needed my money. And it is my money. And people should not be told how to handle their money by a government. It's the principle of the matter.

                      as that commerical would say "ITS MY MONEY AND I NEED IT NOW!"

                      Cash 4 life 3/5 numbers= $25 (9/1/14)
                      TAKE 5 4/5 numbers= $775.00 (2/21/15)

                      im bound to win the jackpot!!  Cool

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                        New Hampshire
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                        Posted: February 3, 2015, 11:20 pm - IP Logged

                        I have 5 quick pick lines for myself and 8 quick pick lines  for the work pool I run.

                          Poo Nanny's avatar - 2649029

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                          Posted: February 4, 2015, 12:25 am - IP Logged

                          Must not be to big of a issue to take as much money as you want out of the bank. I see rappers show up at strip clubs with extremely large sums of cash just to make it rain.

                            lejardin's avatar - Lottery-014.jpg

                            United States
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                            Posted: February 4, 2015, 1:02 pm - IP Logged

                            I used to think that any single transaction (withdrawal or deposit) under $10k was "safe" but I recently read that multiple transactions in a year for $10k or more total from the same agent must be reported.  Also, any "suspicious" activity (withdrawal or deposit) of $5k or more from someone who doesn't normally make those types of transactions "can" be reported.   I believe in some cases the bank's reporting the activity to the govt. means they also have to notify the person doing the activity, but it can be months after it's been reported.  (I know if MY bank reported me for "suspicious" activity that would be the very last thing they'd do with anything to do with my funds)

                            I've made some fairly large transactions (well, to ME, anyway), one not but ten or so years ago - I sent a cashier's check for $9500 to a friend (a loan repayment w/ interest), thinking it was just under the threshold and it must have been OK b/c I never got any notification about it.  OTOH, I did notice a federal inquiry on a credit report not long afterwards. 

                            You can get around the $250k FDIC max insured funds by depositing larger amts. in banks that participate in the Certificate of Deposit Account Registry Service (CDARS).  You make the $250+ deposit and they spread the extra around to other banks that also participate in the program.   (There's a bank in the area I want to move to if I win that participates in that program, they pay 1.5% on five yr. jumbo CDs but I don't know if that would be what would be paid on the other accounts.) There's another program for money market accts.

                            I agree 100% with you about banks and govt.  I have friends who live in Cyprus and have meant to ask them how they fared with their money, but keep forgetting.   They're good online friends, have been for 15 yrs., but I'm also loathe to ask such a personal question.  I think they were OK when the dust settled.

                            I've read several horror stories of people carrying large sums of cash and being stopped for a traffic violation and consenting to a search, knowing they hadn't done anything wrong (other than speeding or whatever caused them to be stopped) and having their money confiscated.  Not long ago a woman here in the Panhandle had that very thing happen to her;  she was an antiques dealer and went to a lot of estate sales and carried cash (and a pistol in her purse)  because so many of them will only take that or certified checks.  It took her nearly a year and a good chunk of the money the cops took from her to get it back.   Sure, a lot of the time it's drug money, but I think this case was one of the cops not wanting to admit they were wrong and hoping maybe she'd just give up and let them keep the money.

                            Mike, Rc, etc., thanks for all the responses and information.

                            Very interesting an inquiry on your credit report over a paid back loan.  Credit reporting, ugh that is another issue that is a total CROCK. 

                            Looks like this is where the financial advisors would come in, they should know where to put large lums of money.  For the privilege of (temporarily?) depositing your funds in their bank, let the bank manager deliver the cash.  I have never been treated badly by any bank, am not and never been rich but I do know firsthand how the rich ARE treated and it sure is different from my experience lol. 

                            My goal would be to go cash for as long as cash is still viable, and even that is getting hard to use at times.  Gold, silver would be my investment.  CDARS is something to look into so thanks for the info. 

                            There is no way if police took my money and I had not done anything wrong, would I give up and let them keep the money, they picked the wrong person.  Would make no difference if I had multi millions or a hundred.

                            Ooops, error "Cyprus" not California Cypress.  That was a real eye opener to me and I have NO DOUBT it could and would happen here in America.

                            Good Luck if you play tonight PB.  I never look at the advertised amount, it is all fluff, for me the net of $165 mil would be split three ways and even with that $55 mil each is too much to comprehend but sure is fun to dream, Let's Win.

                              mikeintexas's avatar - tx avatar-1.gif
                              Texas Panhandle
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                              Posted: February 4, 2015, 8:24 pm - IP Logged

                              N/P, lejardin.   I'm sure that bank reported the transaction since I hadn't made any so large (or even close to it) before w/ them.   Maybe my appearance gave the bank employee cause for concern - when I'm "cleaned up", I've been told I look like a cop or undercover detective, but when I'm scraggly and dressed in sweats, etc., I've been told I look like a drug dealer.  I'd prefer people think I was a preacher or porn star, but that's just me. <grin>

                              Yep, I have always thought that sometime in my lifetime that cash transactions would be very rare and it's getting to that point now.  I don't use cash much - other than buying the occ. soda and lottery tickets, I use credit cards. (I have pretty much quit using my debit card because of security risks) I've got a friend who thinks this cashless society is one more step to the "Mark of the Beast" thing, but I don't know.  I check gold and silver prices when I think of it and the history is particularly interesting.  I bought some silver - not a lot - back in the mid-80's and sold some of it for a couple dollars/oz. profit, wish I had hung onto it now but I needed the money then.  My ex bought some small gold coins, but somehow we didn't split those up when she and I split.   (The worst thing was she got the Hoover and I got the cats.  After a while, if I had known how to and had the guts, I could have knitted another cat.)

                              I don't keep a lot of money in my checking account - mostly b/c I don't have a lot, but when I'm flush and doing well, I transfer from savings when the checking is low.  I do a lot of online transactions, Amazon,  Google Play music, e-books, paying credit cards, etc. and want to make sure I don't get hacked and my account drained.   I have notifications on my credit cards for over certain amts. and for multiple transactions and if I win, I'm going to make sure my money is even safer than now.   That bank I mentioned in my earlier post also offers Kasasa checking accounts, paying a pretty good rate on balances above a certain amt.  The only other stipulations are that you use online banking and use your debit card so many times per month.