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Thread: How to receive large sums of money from your Sugar Daddy into your bank?

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    Senior Member funnymoney's Avatar
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    Default How to receive large sums of money from your Sugar Daddy into your bank?

    How do you receive large sums of money from your Sugar Daddy monthly? Is it by cash only or by bank wire transfers? Assuming a Sugar Daddy wants to bank wire the money into your bank account every month then how can you do that but without him getting your real name and address which is necessary information for money transfers in the USA.

    Also if you get say over $10,000 a month then how do you deposit that amount to your bank account without triggering a bank or IRS alert or audit?

    Thanks

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    I don't believe you can send that large of a sum of money annonomously.

    Would it be possible to break it up into smaller amounts sent weekly maybe?

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    Senior Member funnymoney's Avatar
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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Yeah I heard that anything $10k and over can trigger a bank alert but even if a smaller amount is there a way to do it without having to give him your your real banking information like your real name and address?

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    God/dess shanna dior's Avatar
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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Cash is king. You can get flagged for receiving large sums of money at once or consistently (ie. weekly) receiving not insignificant amounts. If you're trying to avoid paying taxes on it, ask for cash in hand instead. That solves the anonymity issue as well, though if he's depositing it via cash at the bank, I believe he'd just need your account number.

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    Veteran Member JoyKitten's Avatar
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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    PayPal does NOT allow transactions relating to the adult industry, but so far, for the few very low end things I've done, this 'Business' account has worked for me. Follow my lead but only AT YOUR OWN RISK of losing your PP account.

    Does PayPal have a maximum amount allowed in any one transaction?
    I'm not lucky enough to have guys sending me more than about $200, but when I do it's via PayPal.......... Only for my very best regular guys.

    I instruct my guys that on their PP transaction they must label the transaction as a Personal GIFT with no comments or other information in remarks. The less they type the less chance I have of being flagged by PP.

    First I created my personal PayPal amount in my real name.
    Paypal offers business accounts, so I chose a generic, non-descript name like XYZ Services. Then I used my stage name as the 'employee' who has signing rights on debit card using the business account. In this way my guys transactions (donations or payments) show up on their side as coming from my business name (XYZ Services). I use my stage name whenever I correspond through the PayPal busniss account, which doesn't seem to cause any red flags with PP, because when I set up the account I designated 'her' as my employee with signing rights.

    Of course both my business account and my personal accounts are linked, I can transfer money between the two. What I don't know is, if someone puts up a complaint with Paypal if my true name will be revealed to them. I would assume so, but I also have THEIR name & PP info, so if stalking is ever an issue, too have some amo to press charges against them too. In 5 years I've never had an issue of any kind.

    I also realize that PayPal is very strict about NO PORN or adult work being transacted through them, SO BEWARE!!! You don't want to lose your Paypal account because you're dealing with assholes. So my example of setting up a PayPal business account to hide your name is at YOUR OWN RISK. I only allow those I trust to be privy to my XYZ Services PP account.

    PS: I also use my 'company' name for privacy on my domain hosting, buying supplies for my cam shows (lube, dildos, costumes, etc.) which makes it easier to track for taxes.

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    Senior Member funnymoney's Avatar
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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    JoyKitten, thanks for the details. I know to not use PayPal in adult entertainment but I am not sure if being a Sugar Baby would be considered that especially since in most cases no sex or sexual activity is being exchanged for money and in that case how would PayPal be able to prove that the account is being used for adult activity when in fact it's not.

    Also does PayPal randomly audit accounts to make sure of this or only when one party has complained, then they react. But in a sugar daddy sugar baby arrangement that is non sexual (yet), the complaining party could always lie and say it is sexual when it's not although highly unlikely but how would PayPal rule or is it just on the complainers words alone that they would close your account?

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    Senior Member funnymoney's Avatar
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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Quote Originally Posted by shanna dior View Post
    Cash is king. You can get flagged for receiving large sums of money at once or consistently (ie. weekly) receiving not insignificant amounts. If you're trying to avoid paying taxes on it, ask for cash in hand instead. That solves the anonymity issue as well, though if he's depositing it via cash at the bank, I believe he'd just need your account number.
    Thanks. The point is not to have the sugar daddy have all your real information. Also as far as the banks, it would not be to avoid taxes but to avoid the bank or IRS wanting to investigate why, where and whom the money is coming from which would probably require both parties to send several legitimate documents and verification information to the banks satisfactory before the money is released to you.

    I guess it seems the only way to get around both like you said is to either have him give you cash in hand if both of you are local or have him mail the cash discreetly to your mailing address or P O Box if he is in another state or country.

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    My understanding is, Paypal doesn't care what your transaction is about, unless it's blatantly having to do with the adult industry. Sites which deal with sexual activity charge much higher transaction fees for all the charge-backs and fraud problems. Paypal doesn't want any part of dealing with that, nor do most other banking institutions.

    In an attempt to stop foreign money from coming into the country and what-have-you, the government does require any transactions over $10k to be tracked with forms filled out. Your guy needs to send money in smaller amounts. If Paypal will take large amounts, like $2500 a week, you're good to go. Set up a separate business account and use whatever name you've give him as your 'employee', like I did.

    From what you're saying, if he's 'gifting' you money, there shouldn't be an issue.....unless he becomes disgruntled later and changes his mind. I must warn you that the IRS only considers ANNUAL gifts of about $11,000 total as non-taxable, over that, in your PayPal account or bank, is traceable and you WILL be having to pay takes on it. As Shanna Dior pointed out, cash is king. If you can arrange for him to give you actual $100 bills, that would be ideal (Priority Mail with tracking # in a USPS pre-paid box to your PO Box which you've set up in your company name, with your 'Stage Name' as a co-box owner =) That would be ideal for YOU. Then get a safe deposit box at your local bank and store all your cash in there. Maybe invest in gold coins with some of the cash and store them in your bank safety deposit box/vault too (not at home!). My gut is telling me that if you start talking to him about business names and PO Boxes, he's probably going to cool his jets. He's probably using the lure of the $10k a month to get close to you. He wants your real name and real address. Be cautious, and if it seems to good to be true, it probably is. That's MY take on this, but what do I know?

    Good luck with your Sugar Daddy!

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Quote Originally Posted by funnymoney View Post
    Also does PayPal randomly audit accounts to make sure of this or only when one party has complained, then they react. But in a sugar daddy sugar baby arrangement that is non sexual (yet), the complaining party could always lie and say it is sexual when it's not although highly unlikely but how would PayPal rule or is it just on the complainers words alone that they would close your account?
    It's not that PayPal does random audits but that they almost always side with the buyer. In your case, that'd be your SD. Basically, if things go south, he could lodge a complaint and your account would get shut down and/or they'd reverse the transaction(s).

    Quote Originally Posted by funnymoney View Post
    I guess it seems the only way to get around both like you said is to either have him give you cash in hand if both of you are local or have him mail the cash discreetly to your mailing address or P O Box if he is in another state or country.
    I wouldn't recommend mailing cash. No matter how discreet you think it is, it can be found and stolen. Even a cheque is better.

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Paypal will report the money to the government. So will your bank if you keep randomly receiving funds. So if you are fine with claim 100% of the money deposited as income and paying taxes on it, then bank deposit are fine. However, if you plan to not pay taxes on it and claim it was a gift, you can't be receiving regular deposits. Maybe a big one here or there, but regular ones will flag you for an audit.

    SD probably wants to transfer it into your account so he has record that he gave it to someone and can try and claim it as a tax writeoff. I would personally ask for cash.

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    Veteran Member SweetPinkCupcake's Avatar
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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Just ask for cash, seriously. Start using money orders to pay bills and shop with cash. If you have a job other than "cash only" in the adult industry or what not, that has a paper trail, use that money in the bank for investing, saving, online shopping, and paying taxes. Anything else, use cash. Just be smart about it and don't carry a huge wad of it in your wallet or flash it around.

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Quote Originally Posted by shanna dior View Post
    Cash is king. You can get flagged for receiving large sums of money at once or consistently (ie. weekly) receiving not insignificant amounts. If you're trying to avoid paying taxes on it, ask for cash in hand instead. That solves the anonymity issue as well, though if he's depositing it via cash at the bank, I believe he'd just need your account number.
    I agree...CASH and then also a safe.
    "Not one drop of my self-worth depends on your acceptance of me."

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Netspend.com and also the new card walmart and American express have are good. You can always find a walmart and theyre internal atm's don't charge fees for withdrawing money.
    Come party with me for the best time you've ever had at a strip club!-Alissa Jaymes

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    I know this is an old thread, but I am suprised no one has mentioned a greendot card?

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    The reporting threshold was lowered years ago to $ 4,000. All transactions of $4,000 or more are automatically reported.

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Quote Originally Posted by pink_bunny View Post
    I know this is an old thread, but I am suprised no one has mentioned a greendot card?
    GreenDot Card always sucked for that is why I always used rushcard

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Quote Originally Posted by DonaDiabla View Post
    GreenDot Card always sucked for that is why I always used rushcard
    rushcard will eventually cause you the same problems as greendot.

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    Default Re: How to receive large sums of money from your Sugar Daddy into your bank?

    Quote Originally Posted by LAChloe View Post
    rushcard will eventually cause you the same problems as greendot.
    Oh dear, LAChloe, I hope not but it might happen

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