Hello! Hopefully this post doesn't break the rules. I am unsure if this is better suited here or in legal advice. I'd hope that this is the right place because my whole point is to avoid being in a spot where I need legal advice.
I am currently working on dumping Wells Fargo. I want to switch to a Credit Union.
I recently sold some personal items and made a cash deposit of 6k to Wells Fargo. I made the deposit of 6k because I had heard that at 7k, Wells sorta flags the transaction and that could mess up pre qualifying for a mortgage. Since making this deposit, I decided I hate Wells Fargo and need to get out.
When transferring from Wells to a CU, do I need to worry about the amount/frequency that I transfer in order to not throw up any red flags that would delay approval? I know that banks generally go back 2 months from the time of approval and verify all of your funds with a fine tooth comb.
On top of my considerations for simply transferring my current accounts to another, is there a way where this would be interpreted as structuring?
Essentially, I want to transfer about 20k to a credit union without raising any red flags or doing anything against the law. It's fine if I need to do multiple smaller transfers, but I don't know if that is considered illegal or not.
Thanks for the help.
Edit: located in the USA.
Submitted October 12, 2021 at 10:45AM by crazyguy42069 https://ift.tt/3iTVTVz
