• When you click on links to various merchants on this site and make a purchase, this can result in this site earning a commission. Affiliate programs and affiliations include, but are not limited to, the eBay Partner Network.

How to Withdraw Large Amounts of Your Own Money (Cash) From Your Bank Account

A little off topic, but anyone have experience going through TSA at the airport with a large amount of cash? Going to Carlisle, plan to buy alot of parts.
 
71RRHI said:
A little off topic, but anyone have experience going through TSA at the airport with a large amount of cash? Going to Carlisle, plan to buy alot of parts.
Click to expand...
If it's over 10 grand just declare it. It could be 10 million... just declare it and you've done your part.
 
SlingLow said:
That is what is called structuring which is mentioned earlier in this thread. If multiple withdrawals that are under the reporting threshold are made in close proximity to each other, the bank will report it. You may as well withdraw it all at once and save the time and fuel.
Click to expand...

dadsbee said:
Yep, ^^^ exactly what will get your investigated. Just prearrange to get what you need, even if it's 150 large. Go in, make them count it out, tell them you're off to an auction in the morning and need to be prepared.
Click to expand...
Investigated by who ? Withdrawing your own money is Not a crime ? Just like what you want to do with it, is No One's business, but your own...
 
VANDAN said:
Investigated by who ? Withdrawing your own money is Not a crime ? Just like what you want to do with it, is No One's business, but your own...
Click to expand...
You're missing the point. The government is watching where cash goes. Walk in, grab a LARGE amount and just tell them you're buying a car. Going in every couple of days and getting just a 100 bucks under the minimum reporting requirement just clicks their windows of someone aiding and abetting crime, or terrorists. Just the way it is..

Doing it your way.. the bank reports you after the fact. We have a 3 week window up here, more than 5 grand total withdrawn in 2 weeks from any bank / account / etc has them on their tippy toes. Just call the bank and tell them you need 200 grand to buy a car... done deal. I don't even sign a declaration on that one..
 
71RRHI said:
A little off topic, but anyone have experience going through TSA at the airport with a large amount of cash? Going to Carlisle, plan to buy alot of parts.
Click to expand...
Carrying a lot of cash today is a financial risk, especially at an airport where you consent to a search by the nature of boarding a plane.
 
Does everyone here understand Credit Unions involved in any cash transactions of other's money are subject to the same "suspicious Activity report" requirements as any bank of any size?
The only difference is how they on a case-by-case basis determine what is potentially "suspicious" that they can defend and avoid a possible fine of what is not "suspicious".
Credit Unions have no special exempt status.
Even a car dealership must report a cash transaction if over $10K.
 
j-c-c-62 said:
Even a car dealership must report a cash transaction if over $10K.
Click to expand...
Yep.. we can't even give a car dealership more than 2K cash now. Gone are the days that you could bring your buddy in to buy out your lease with a bag of cash! That said, I bought my '66 HP2 through a used car dealership so that we (and the actual seller) didn't have to do the pay tax on "appraised value ****" with the Service Ontario. That bag of cash will remain silent, will not speak it's opinion, does not exist.... lol
 
Surprised this hasn't been mentioned, decades back when I deposited large cash deposits (legit) over a certain threshold, the bank used to charge 1%? to count the deposit.:realcrazy:

But then I reside in So Florida.:lol:
 
hemi71x said:
This thread got me to thinking what i need to do with my bank account in regards to what i need to do, before i conk out, and get planted in this planet Earth.
I'm a bachelor, live alone, no wife, or kids, no family.
So, what happens to my cash that i have in my bank account, when i die, and not around anymore?
Need to set something up with the bank, letting them know, and get it onto their records, who i would like to get my money, when the time comes, when i conk out.
Always something for this old man to think about.
I do have a will made out, who gets my car, gold, guns, but didn't think of my cash.
I could get hit by a bus tomorrow, or keep on living for another 7 to 10 years.
Who knows, i'm currently 71.
Click to expand...
A properly executed will would provide for a 'remainder', which is anything not specifically deeded or bequeathed. That would cover your bank accounts, personal possessions, and anything not specifically mentioned elsewhere in the will.
VANDAN said:
Investigated by who ? Withdrawing your own money is Not a crime ? Just like what you want to do with it, is No One's business, but your own...
Click to expand...
True, but understand it is a 'suspicious' activity report. Anything you do to make it look more suspicious increases your chance of repercussions, like withdrawing multiple amounts below the limit several times or refusing to give a reasonable explanation to the bank personnel. It just adds a negative to the report that will be made. 'Refused to explain - became agitated' instead of 'Buying a '65 Coronet'.

As far as the who, I would think the IRS maybe? It might depend on what they think you're guilty of. If it's interstate, maybe the FBI. If it's drugs, probably the DEA. If it's taking millions of dollars in bribes from China and Ukraine, then nobody.
 
Hey, nobody can you deny you from getting funds to support your coke habit! Bank tellers just laugh when they ask "what's it for" and you say buying coke...

Like I said a WAY back, get to know your tellers and managers. I have two tellers I've had for 35 years.. gonna suck when they retire, but I've been "training" the next ones.
 
dadsbee said:
LOL Mark, it's actually just day to day money. I'm a dinosaur that can't use an ATM, I don't even have a debit card. I pay cash and always know what's left in my wallet. LIke the TV advert.. "What's in your wallet"..
Click to expand...
Last time to use an ATM was probably 30 years ago and needed about 200 bucks on a weekend....and that dang thing dished out all 5's! That was my last time to use an ATM after having at least 6 people waiting behind me to use it. Screw that crap.
j-c-c-62 said:
Does everyone here understand Credit Unions involved in any cash transactions of other's money are subject to the same "suspicious Activity report" requirements as any bank of any size?
The only difference is how they on a case-by-case basis determine what is potentially "suspicious" that they can defend and avoid a possible fine of what is not "suspicious".
Credit Unions have no special exempt status.
Even a car dealership must report a cash transaction if over $10K.
Click to expand...
Yup....I understand.....but never had any problems with the CU asking me what I'm using the money for....
j-c-c-62 said:
Surprised this hasn't been mentioned, decades back when I deposited large cash deposits (legit) over a certain threshold, the bank used to charge 1%? to count the deposit.:realcrazy:

But then I reside in So Florida.:lol:
Click to expand...
Never had that problem either. Don't know who you are banking with but my banking here doesn't doo dat! Deposits or otherwise....
 
dadsbee said:
Like I said a WAY back, get to know your tellers and managers. I have two tellers I've had for 35 years.. gonna suck when they retire, but I've been "training" the next ones.
Click to expand...

My motto is, you can catch more flies with honey than vinegar, If that doesn't work, put a foot up their ***. LOL.
 
AR67GTX said:
This isn’t Bank of America by chance is it? My wife has been trustee/executor on an estate where they held the estate funds. They are absolutely terrible.
Click to expand...
So is/are Wells Fargo...
I went through that type of deal too
dealing with my Uncle, then my Granddad's estate, inheritance
for me & my father, he's still at Wells Fargo too :BangHead:
why some people choose to use them 2 banks BofA & WF ?,
I will never know...
You're just a an account # to them & nothing more
&/or they use funds of yours, for them to profit off of &/or to loan out,
at 10 time what they pay for savings...
I know the world revolves around making a profit,
they are "allegedly" extortionists, they've both been hacked several times over
or sell your info & personal address, phone, e-mail, S/S# & ID/Lic.#
they aren't safe IMO, they are not your friends...

At my bank I call them & tell them I will need $X amount
by so & so day, so they can have the cash on hand...
I was told they can have any or all my account available, within 24 hrs
they don't keep it all on hand, most of it goes to a/the main branch/s
most transaction are done digitally today, even here out in the sticks...
My bank co-owner/manager told me;
"I could get as much as I need, if or when I need it"
but;
"That they only have a select amount on hand, for daily use"...
he also said; "My account/s exceeds that amount"...

My bank I won't use the name here, is a smaller bank
it's a few private investors, more local community owners, farmers & ranchers
I know everyone working there locally too, we are mostly on 1st or last name basis
(like Norm walking into Cheers)
it only has like 15 (if that maybe) branches in total, mostly all small rural banks
serving small rural communities, only a few in bigger areas like Modesto & Oakdale
or all across Northern Calif. valley & foothills/mountains/the Motherload...

I've never had any issue
even depositing, the regs are 'you say where the $$ comes from'
on certain levels of cash... Check deposits or wire transfers, don't seem to meet that scrutiny...
I've always just said; "buying or selling a car/s", I've never filled out any paperwork "YET"
but with the current so-called leaders in Sacramento or DC, that may have changed...

There are consequences for who you choose to handle your funds or as leaders
I'll leave it at that...
 
Last edited:
71RRHI said:
A little off topic, but anyone have experience going through TSA at the airport with a large amount of cash? Going to Carlisle, plan to buy alot of parts.
Click to expand...
Dave, I can help with that problem once you arrive!!
 
dadsbee said:
Do I need to send my Wife down for you? She's closed at least 3 banks in town in the past 35 years. Piss her off, she makes a real scene, demands cash.. makes them count every last dollar out of the vault to close her accounts and then they lock the door until Fargo or Loomis can bring them more money in the next few days to reopen!
Click to expand...
Wayne.....your wife is a keeper. Do not ever let her go. :thumbsup:
 
You must log in or register to reply here.

Similar threads

Richard Davis
Bank finally let go of my cash, able to make the purchase
Replies
16
Views
938
Davefinan
D
FU64RY
Unbelievable: Sold car now he want's his money back
10 11 12
Replies
238
Views
19K
JackR
JackR
Stowe
Beware of this Scammer
2
Replies
35
Views
5K
Cranky
Cranky
eldubb440
sometimes it's hard to let stuff go
2
Replies
27
Views
1K
Budnicks
Budnicks
1967coronet
U.S. postal keeps going down hill.
2
Replies
30
Views
2K
GetX'd
GetX'd
Auto Transport Service
Back
Top