I have asked my bank just a few days ago if I can withdraw 10k at once. They raised my limit accordingly and said it is no problem at all with the ATM.
10k needs to be reported to federal authorities, which is annoying but not a big deal. They would someone prefer you to withdraw less, but they won’t tell you this as withdrawing just under 10k a few times to escape reporting is a bigger deal than a single larger withdrawal that must be reported. (come to think of it, this 10k number is 20 years old, probably changed since)
When dealing with that much money It is generally best to work electronically. There are logs of what happened so if there is trouble investigators can figure it out. Cash is anonymous and so if there are problems you have less ability to catch whoever stole it. I’m assume that your need for money is legal of course.
I have asked my bank just a few days ago if I can withdraw 10k at once. They raised my limit accordingly and said it is no problem at all with the ATM.
10k needs to be reported to federal authorities, which is annoying but not a big deal. They would someone prefer you to withdraw less, but they won’t tell you this as withdrawing just under 10k a few times to escape reporting is a bigger deal than a single larger withdrawal that must be reported. (come to think of it, this 10k number is 20 years old, probably changed since)
When dealing with that much money It is generally best to work electronically. There are logs of what happened so if there is trouble investigators can figure it out. Cash is anonymous and so if there are problems you have less ability to catch whoever stole it. I’m assume that your need for money is legal of course.
What authority are you thinking about?
The IRS and the Financial Crimes Enforcement Network.
https://www.investopedia.com/how-much-cash-can-you-deposit-at-a-bank-8553483
This was part of the Bank Secrecy Act and the PATRIOT Act passed by Bush and later again by Obama.
They are from a very foreign country. They can lick my.
Well the above commentor assumed you live in the US.
I had already found that out
This is some top tier us defaultism
Nice. Didn’t know there is an -ism for it 🙂