Personal Finance

Can my wife write me a $30k personal cheque? Simplii Financial

  • Last Updated:
  • Dec 8th, 2018 6:32 am
[OP]
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Feb 9, 2003
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Can my wife write me a $30k personal cheque? Simplii Financial

My wife has come into a bit of money due to her role in a successful kidnapping/extortion scheme. She's going to max out her TFSA and then we want to transfer about 30k to max out mine. She can't transfer direct from her Simplii account to my Questrade account, something we learned the hard way, not long ago. Can she just write me a personal cheque? I thought there was a $10k max on personal cheques but I can't find any indication of that despite scouring Simplii's site. We both bank with them but have individual accounts, nothing joint.

TIA.
19 replies
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Jan 9, 2011
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i6s1 wrote:
Dec 5th, 2018 12:33 pm
My wife has come into a bit of money due to her role in a successful kidnapping/extortion scheme.
Suitcases full of $100 bills is how most people in your situation would handle this. Bitcoin is pretty popular too.
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Newbie
Nov 23, 2018
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I did the e-mail money transfer and receive the fund instantly.
But for $30k, might take a couple of days to get them all transferred. Beats getting hold for a week though.
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Dec 27, 2009
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BRKAMZN wrote:
Dec 5th, 2018 2:31 pm
I did the e-mail money transfer and receive the fund instantly.
But for $30k, might take a couple of days to get them all transferred. Beats getting hold for a week though.
I can only do so much per day, and I think it would take me far longer than a week to do $30K worth.
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Nov 23, 2018
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Chickinvic wrote:
Dec 5th, 2018 3:00 pm
I can only do so much per day, and I think it would take me far longer than a week to do $30K worth.
I can squeeze through $10 a day. I guess everyones' security level differs.
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BRKAMZN wrote:
Dec 5th, 2018 3:19 pm
I can squeeze through $10 a day. I guess everyones' security level differs.
I'm pretty sure that would be the exception, not the norm.
[OP]
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Feb 9, 2003
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BRKAMZN wrote:
Dec 5th, 2018 2:31 pm
I did the e-mail money transfer and receive the fund instantly.
But for $30k, might take a couple of days to get them all transferred. Beats getting hold for a week though.
Yeah, I looked into that.

"Is there a limit on how much money can be sent or received by INTERAC e-Transfer?

Each individual INTERAC e-Transfer® must be for a minimum of $0.01 and a maximum of $3,000. The limits for sending INTERAC e-Transfers® are as follows:

For any 24-hour period, a maximum of $3,000 may be sent
For any 7-day period, a maximum of $10,000 may be sent
For any 30-day period, a maximum of $30,000 may be sent
"
Newbie
Nov 14, 2014
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Mississauga, ON
You can write a cheque up to $25,000,000.00 so you're good for a whole lot more kidnapping/extortion schemes!
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May 8, 2009
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OP, since you and SO both bank with Simplii, you should add a new joint chequing account. That way, she can move $30k internally from her separate account into joint account. Then you can move the $30k out of there.

Simplii is a beast. You can have as many accounts as you want, and they can be separate or joint to whichever other account holder you want.
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i6s1 wrote:
Dec 5th, 2018 12:33 pm
My wife has come into a bit of money due to her role in a successful kidnapping/extortion scheme. She's going to max out her TFSA and then we want to transfer about 30k to max out mine. She can't transfer direct from her Simplii account to my Questrade account, something we learned the hard way, not long ago. Can she just write me a personal cheque? I thought there was a $10k max on personal cheques but I can't find any indication of that despite scouring Simplii's site. We both bank with them but have individual accounts, nothing joint.

TIA.
Did she really do the extortion? If she did, then you must be a honest person. You could have said she inherited some money.
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May 31, 2018
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Is money acquired through kidnapping/extortion deemed to be earned income for CRA tax purposes? Or is it more like lottery/gambling winnings?

Or is it reCapture? Heh, see what I did there...capture...kidnap...

I'll go get some coffee...
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Dec 11, 2005
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Dunno where you heard there is a 10K max on personal cheques. The economy would grind to a halt if that was the case.
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Nov 25, 2014
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FarmerHarv wrote:
Dec 6th, 2018 7:04 am
Is money acquired through kidnapping/extortion deemed to be earned income for CRA tax purposes? Or is it more like lottery/gambling winnings?

Or is it reCapture? Heh, see what I did there...capture...kidnap...

I'll go get some coffee...
There shouldn't be any tax due. In fact the wife should register as a charity and give out a donation receipt post-extortion so the victim can claim it and have more to extort next year.
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