Kriegenstein
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Kriegenstein3 karma
Why is there an unreasonable amount of information necessary when documenting funds transferring from one account to another? And by unreasonable I mean this:
Going from investment account to checking account for a down payment I had to:
Provide screenshots of beginning balance showing securities and balances prior to liquidation of stocks
Provide screenshots of trade confirmations showing amounts
Provide screenshots post trade showing available cash balance
Provide screenshots of balance transfer
Provide screenshot of checking account prior to receiving transfer
Provide screenshot of checking post transfer showing transferred funds
And after all that I still have to provide a statement that shows everything that had just transpired.
If I have $1000 in my checking account and $40000 in my investment account none of the in between stuff is necessary if the ending & beginning balances are known. I understand they are following the money but injection of additional funds would be immediately caught knowing nothing but the start/end balances and the transfers, which appear on the statement or printouts of account activity.
Why has this process become so convoluted and unnecessary?
edit: for some words
Kriegenstein196 karma
I Have dated a stripper, and will tell you this....you absolutely should take a ride on the crazy train.
Wouldn't ever do it again, but glad I did it once.
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