Terrible idea.

Let's say, god forbid, a tornado comes around and levels the place. You are left with nothing minus the prepaid rent.

It's basically loaning out money with no interest, maybe if the landlord gives you a discount for pre-paying, but otherwise - I would advise against it.

Pay off a debt you have, credit card maybe.. Or open a savings account.

You want to know if it’s reasonable to rent an apartment to hide from your family?

What did you think parenthood involved?

Are you the dad on 6 Feet Under?

I’m gonna try this :) I only have about $700 to save to get back up there and then I’ll start doing extra on the car!

And it avoids keeping all your money at one bank just in case you are temporarily locked out or some other issue, you still can bank with the other until the issue is resolved.

I also keep a small secondary savings account with PenFed credit union and have a credit card with them, just in case I ever need some type of loan they do place a value on having an established relationship with them.

https://www.penfed.org/accounts/premium-online-savings

You should still at minimum have 3 months saved in an emergency fund. You never know what could happen, maybe you have a serious medical issue that leaves you with a large unexpected bill, maybe your car has a bad mechanical failure and it will cost a few grand to fix, etc

You should really budget flights money separate from emergency money too, either on the balance sheet or just have a 2nd savings account

LOL I didn’t even notice that typo. *banked with

It’s a bad idea unless your goal is to make your landlord think he’s about to be scammed. Prepayment scams are one of the most common for landlords. What benefit do you purport to gain in this situation?

Ask your landlord if he would do a discount. If he does do like 5% it might make sense for you.

Otherwise, you want to be sure you will be there for x months ahead, otherwise it’s almost always better to stay liquid with money you know you’re going to need, whether it’s to your current landlord or a new one.

Just transfer some money after opening the account for the initial deposit. Wait until the paperwork arrives, and signature card signed and returned, and transfer the rest.

Creating many smaller transfers is one way to get flagged.

You banned them from your wifi. Lighten up on them

Yes don't do that. That would be more suspicious and while likely wouldn't get frozen cmwould be more likely

There is nothing wrong with what you said because structuring is triggered when people deposit just shy of 10k to avoid the 10k reporting. For what it’s worth I have Wells Fargo checking and ally saving and when I first opened the ally and closed my Wells Fargo savings I transferred 40k +/- with no issues and regularly make 10-15k transfers with no issue

Why?

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Yep, that’s it!

Depends on how confident you are in keeping your job. If you expect to be fired it's probably better to look for another job while having the next month covered. If you're good at your job there should be no reason to prepay. Also if you save at a bare minimum the equivalent of one months rent every paycheck you should be more than capable of weathering the proverbial storm.

Oh I was planning on depositing maybe 10k at a time. Just makes me more comfortable. Is that a bad idea?

We did this for the first year after relocating to a new city. It was the smart move for us as it allowed us to take the time to find the right jobs and the right location for home purchase.8 years later and everything worked out great

Most leasing companies have closed this loophole. Honda, for example, forced me to but mine out from a Honda dealership.

Thanks, that's exactly my plan. Still use atms and checks.

That's why I'm leaving. Mostly though because my savings interest is basically zero!

If you have a long history with WF then consider keeping the checking account with them and using Ally for a savings account or similar product. I've had WF quickly resolve any fraud related issues and I believe my long history with them facilitates that, so I keep them around for the checking account only since checking accounts is where most issues happen.

I may be wrong but I thought this wasn’t allowed in NYC

What if the home burns down?