I was curious about domains and looked for something. The domain was available, but it cost over $1,000,000
What would happen if I clicked “add to cart” and tried to buy it if…
- I couldn’t afford it
- I could afford it
Does someone reach out since it’s a big sale? How do they confirm I have the money? Who does the money go to?
Assuming I don’t have the money, at what point would I get blocked? I assume they don’t just process giant purchases the same way as $10 ones
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The person you’re replying too doesn’t know what they are talking about. Once you start moving around several thousands of dollars (10k?) they will always ask you so they can document it and report it to the IRS/FBI if necessary. In my experience, once you move around enough money to have to go to a banker’s desk verses a teller window they will want to know what’s going on.
If I deposit 10,000 in cash I have to make a declaration where it came from. Cash. If I take out 30,000 in cash there is nothing they ask other then they have me sign a waiver that states they are not liable it I get mugged or spend it on some scam. This is it into or out of my personal account. If it is cash into my business accounts, they never care.
If it is transfers between accounts, I can send millions. There is no light that goes off unless it is out of country or into the country. Domestically they are not following this.
I moved 12,000,000 million last year and no one batted an eye. Other then the lawyers involved, no one really cares. I am sure the banks double checked any large transactions but if they do, I am not aware of it.
As for taxes, they were made aware of it when I filled my financials at the end of the year. Taxes paid then.