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

[toolmanmike]

I don't try to pay in cash any more. It draws too much heat from the IRS and DEA who are alerted on purchases, transfers, etc of $10,000+
I don't need the headaches.

This ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

No one fills out a Form 8300 for cash sales over $10,000. It's supposed to help prevent money laundering and if it's income, taxes are supposed to be paid on it. But.............. The IRS calls it tax evasion if you don't pay but I already paid taxes on the income used to purchase the car in the first place and I paid taxes to have it registered and licenced. Just remember, what we think is right may be against the law and could get us in trouble if we would get caught. $10,000 worth of $100 bills will attract attention unless you use it to buy groceries every week. Don't expect to carry in a breif case full if hundreds into your bank and not attract some attention.

Here ya go:

Learn more…Opens in new tab

Yes, banks are required to fill out paperwork, specifically a Currency Transaction Report (CTR), for any cash deposits exceeding $10,000, which is mandated by the Bank Secrecy Act to help combat money laundering and other illegal activities; this paperwork typically includes the depositor's personal information and details about the deposit.

 

[Sam69sat]

This ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^

No one fills out a Form 8300 for cash sales over $10,000. It's supposed to help prevent money laundering and if it's income, taxes are supposed to be paid on it. But.............. The IRS calls it tax evasion if you don't pay but I already paid taxes on the income used to purchase the car in the first place and I paid taxes to have it registered and licenced. Just remember, what we think is right may be against the law and could get us in trouble if we would get caught. $10,000 worth of $100 bills will attract attention unless you use it to buy groceries every week. Don't expect to carry in a breif case full if hundreds into your bank and not attract some attention.

Here ya go:

Learn more…Opens in new tab

Yes, banks are required to fill out paperwork, specifically a Currency Transaction Report (CTR), for any cash deposits exceeding $10,000, which is mandated by the Bank Secrecy Act to help combat money laundering and other illegal activities; this paperwork typically includes the depositor's personal information and details about the deposit.

Sheesh.....you guys are just banking at the wrong bank. Open an account at TD Bank and you can deposit and withdraw millions without question or paperwork just like the cartels do. All you have to do is give the bank employees a little bribe in the form of a gift card. Cha-ching!!!

TD Bank faces $3 billion penalty for money laundering violations

For strategically underresourced communities, TD Bank's recent $3 billion fine for money laundering hits particularly hard.

rollingout.com

 

[toolmanmike]

Sheesh.....you guys are just banking at the wrong bank. Open an account at TD Bank and you can deposit and withdraw millions without question or paperwork just like the cartels do. All you have to do is give the bank employees a little bribe in the form of a gift card. Cha-ching!!!

TD Bank faces $3 billion penalty for money laundering violations

For strategically underresourced communities, TD Bank's recent $3 billion fine for money laundering hits particularly hard.

rollingout.com

 

[Dennis H]

There is no RIGHT Bank. SCCFCU (now MIRASTAR), BofA, Wells Fargo. All crap.

 

[Cranky]

I call my manager.. " how much cash do you have in the vault"? Well **** that's not enough... "when will you have a $100 K in house". We can have it by Friday.. "good I'll be there to get it". What's it for??? I'm buying drugs...

As matter of fact, I walked out of the bank at 9:45am this morning with $9900 in my pocket without a call... "what do we put on the Revenue Canada paperwork... "going to an auction" !

Drugs! LOL Went to my credit union a few months ago to get money for my Dart....8500 and not a word was said from either me or them.

 

[bob32268]

Financial institutions are required to report withdrawals of $10k or more to the federal government.
Call the bank ahead of time, ask them to have cash for you to pick-up, a lot of times they have to order big bills.
If you don't want Uncle Sam knowing your business, withdrawal < 10k at a time.

You have to be careful on this, even less than 10K, the "Legal" term for this is called "Structuring".... they get you either way !
Tks,
Bob32268

 

[eldubb440]

I just dig up my 5 gallon bucket

 

[Hey-O]

I just dig up my 5 gallon bucket

I use a 1 gallon bucket. I can't leave 5 gallons out of play just sitting around!! It has to work just like I did....LOL

 

[Cranky]

And two pistols...

I only pack one pistol but it has a 13 round mag with one in the chamber

 

[RiverRaider]

I usually call the bank a day ahead of when I am pulling large amounts of cash out. Expect to fill out paperwork to take or deposit larger amounts of cash.
Even if you're only getting one or two grand of cash for making change calling ahead, it gives them time to set aside the 5's 10's 20's etc. for you.
If you're pulling for example 25K out keep the bank slip with the cash and if your stopped and your cash is questioned you have paperwork to show were
it came from. Safety deposit box is a good way to put large amount in safe place and slowly deposit smaller amounts back into your accounts over time.