As convenient as banks are, I am reducing my reliance on them. They are agents of the government, not safekeepers of my wealth. There is the "bank of the backyard" that is available without fees, 24 hours a day, and is as safe as I want it to be

once all the states are selling drugs legally in each state which is on the way to happening and because they all are seeing Colorado etc getting rich on taxes from drug sales the feds will start taxing the states, as they will want their "fair" share. businesses are coming to Colorado because of legal drug sales. the outdoor retailer trade show left slc not because of wild land garbage but so all those coming to Colorado could get grass legally.
the police have more sniffing dogs for the airport when they leave..

Federal law requires banks to inform the treasury about any deposit of cash of $10,000 or more. It's one way the govt. uses to pick up on criminal activity like drugs or money laundering. Unless you deposited an amount that size, it's more likely the ID check is the bank's way of making sure the depositor isn't using a stolen checkbook. Often thieves will make a small deposit to see if anyone checks their ID, and if they don't, will use the checks as they want. If a teller asks for an ID, even on a small deposit, the checkbook gets tossed.

That regulation has been in place at least since the early 1980s.

I'm learning about how cash economies work here in Santa Fe. Had the need for a lot or work on a newly purchased older home, and almost everyone who could do any sort of work demanded cash payments. Taxes on income are low, and taxes on any goods or services are high, and so New Mexico is one of the very poorest states, given the way the system works. It takes getting used to, being a crook.

I went for almost 30 years stuffing any cash I had left over each week in a drawer and a 5 gallon glass water bottle. I rarely ever took any out and never counted it. After I retired I went to buy a new truck with some of the cash. Car dealer would not accept cash so I had to deposit it in my bank. What a surprise, any deposits of cash over $9,999.00 must be reported to some authority and I was told it is to stop money laundering and illegal gotten gains from drugs or gambling. Who knew it is actually illegal to have in your possession over $10K in cash.

Yes of course you are right. There's no need to "protect" you from someone depositing money into your account - especially cash money. Happened to me too once when I went to deposit a check into my (adult) daughter's account. I couldn't believe it!

Of course I would expect they demand ID for a withdrawal (and a refusal if my name wasn't on the signing card, which it isn't.)

It's all about keeping tabs on you, me, and everyone else.

Under the mattress is looking better and better!

In days gone by, it was a fairly common plot contrivance to frame an official as being "on the take" by making large cash deposits to his account. Of course, this was also pre-surveillance cameras, too.

So, before Christmas I returned an item to Home Depot that was charged on my Pro Home Depot account. On a non-cash transaction they require my Driver's License and Social Security number. My guess is HD is required to send me a 1099 for my refunds if they total over $600. IRS expects me to write off the expenses, but I believe they will now want returns added to income. Just my guess. As the honorable Joe Biden once said, "We are going to tax everything that moves, if it doesn't move we will tax it until it does."

My theory is they are looking for any/all ways to stop the underground economy. I wonder how they will handle cash rent payments, money orders, payday loans, etc.

I went to the bank to make my house payment using part of my Social Security check. New rules from the IRS! I had to fill out all kinds of forms to permit the transaction. The feds want to know everything about cash flow.

It's both security and tracking.

The paperless economy (no greenbacks)? That's all about government tracking and predictive analytics. That's the police state.

Okay, they are tracking the flow of cash.
I think you may be on to something too.
Sheesh!

No, dino, you miss the point. The banksters want to be sure that you are not in competition with the criminals in the Dark Center, for example, by laundering illegal drug money or by having cash that was not reported for taxation. You are a criminal in the eyes of the criminals.

Me dino thinks its time to check an ID when you make a withdrawal, which I actually appreciate.
That would foil a wannabe sneaky thief who thinks using your stolen check book to put a little cash into your account and shortly coming back to take a lot more out is a good idea.
He'd have your balance from the first transaction but the asked for ID for a withdrawal should be a stone wall.
So it's hard to imagine a crook trying to do that. (I have a wild imagination anyway).
That's all me dino could imagine for checking your ID. And that scenario strikes me as a stretch.
Me dino thinks you're on to something.

Most likely you are right.