How to avoid getting my bank account locked/closed for trading bitcoins

[ardana123]

Since i want to do a lot of bank deposits to mtgox/bitstamp and receive withdrawals from them too, ranging in 10000s of dollars, how can i avoid getting my bank account audited/shut down for this... I'm trading with legal money i earned through working, and i want to report all my gains to the taxes at the end of the year. Still, is there something i can do so they dont have any suspicions about illegal activity?

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[Inedible]

For personal trading it'll be fine.

You might still get flagged for the volumes you're putting through but if you can show how the money was legally earned (i.e. your take home pay goes into the same bank accoun) you'll be fine.

The discussions on this forum about accounts being closed down are for when people open business accounts and use it for transfer in/out of thousands of people's deposits/withdrawals.

[TippingPoint]

I'm trading with legal money i earned through working, and i want to report all my gains to the taxes at the end of the year.

Thank you for feeding and perpetuating the corrupt, wasteful, and inefficient system.

[ardana123]

I'm trading with legal money i earned through working, and i want to report all my gains to the taxes at the end of the year.

Thank you for feeding and perpetuating the corrupt, wasteful, and inefficient system.

i don't see any other way, it's either that or go to jail for tax evasion :x

[TippingPoint]

I understand.  The money is on the record.

[crumbs]

I'm trading with legal money i earned through working, and i want to report all my gains to the taxes at the end of the year.

Thank you for feeding and perpetuating the corrupt, wasteful, and inefficient system.

Ohai i launder monyz and wat is this?  
People with no intention of paying taxes tend to phrase their questions intelligently.  

[TsuyokuNaritai]

For personal trading it'll be fine.

You might still get flagged for the volumes you're putting through but if you can show how the money was legally earned (i.e. your take home pay goes into the same bank accoun) you'll be fine.

The discussions on this forum about accounts being closed down are for when people open business accounts and use it for transfer in/out of thousands of people's deposits/withdrawals.

http://www.reddit.com/r/Bitcoin/comments/1huw2a/sold_3_bitcoins_on_friday_got_this_lovely_letter/
https://i.imgur.com/9mLApNK.jpg

This might not be connected to the BTC sale, but at least serves as yet another reminder that banks can shut your personal account down whenever they feel like it, and keep all "your" money unless you can prove where it came from to their satisfaction, or are willing to tie yourself up in litigation to get it back.

[Lethos]

Open up a business account, rather than using your personal account.
It be best if you are honest with the bank on what this going to be used for, the details matter and listen to their advice.

That way that sort of volume, can be considered normal by the bank and also you can keep it separate for your needs of self employment taxes (assumed)