Ledger to Ledger

[Star Ship]

Pardon my ignorance, but could someone please explain what "ledger to ledger" is - as I hear alot about how we can't do "ledger to ledger" when cashing in dinars.

[20MillionDinar]

Let's say you have an account with Bank of America and I also have an account with BOA. Then you go into the bank and make a "ledger to ledger" transfer it is basically an internal wire transfer between your account and my account.

[dinariac]

Pardon my ignorance, but could someone please explain what "ledger to ledger" is - as I hear alot about how we can't do "ledger to ledger" when cashing in dinars.

Ledger to ledger is where a bank will transfer funds from one account to another account within its own system. Wire transfers are between two different banks. With a ledger transfer, Uncle O and the US Treasury and the IRS would not be able to easily trace monetary transactions. However, with a wire transaction of over $10,000, notification is required to be sent to the appropriate government agencies.

RRRRVVVVVVV T T T T T T T T T I I I I I I I I I M M M M M M M E E E E E E E E E :woot:

[Star Ship]

Thanks for the explanation, friends. Appreciate the quick response.

[jbbdolphins]

I was curious about that too! I was planning on cashing in at a local bank and then transferring to my USAA account. Oh Boy...I think I need a good tax attorney!!!