I withdraw between $500 and $1000 from my bank on a regular basis-almost always in hundreds-and no one, not once, has ever asked me about it. The next time someone questions you report them to the branch manager.
My bank asks questions if I withdraw $500 in $100 bills. Do providers prefer large bills? I think that I can get $500 in $50s without attracting a lot of attention
This question comes up frequently. First of all, unless you are withdrawing cash amounts in excess of $10,000, it's nobody's business why you want your cash in $100s or rolled coin. Personally, I hate carrying fat wads of dough no matter what ... although I do think back to the days of carry a fat wad of singles with a single $100 bill on the outside. Yeah, I'm sure that fooled a lot of people into thinking I was a Rockefeller.
If you want to tell your bank teller SOMETHING, I'm sure we can come up plenty of polite "none of your business" replacements. "Nieces and nephews graduation / birthday cards -- make sure they're clean and crisp, please." "My bookie prefers large bills." "I get a lot of free taxi rides since the drivers can't change a hundred."
Courtesy of the Patriot Act the threshold for government scrutiny is now $4,000. This is what tripped up a certain agency that is now closed. As for bank scrutiny of $100s and $50s I've never seen it. I get $20s all the time from an ATM and routinely ask the teller to change them to bigger denominations. All they do is smile and take care of it. They couldn't care less why. So, as Robbin says, change banks. Or give the lady $20s. I doubt she really cares.
Yikes ... I didn't realize that. Is that a "the bank must actually file paperwork" threshold or is that a "raise suspicions" threshold?
Now that I think about it, a certain Governor that is now not a governor got flagged because of sub-10k cash withdrawals but I think there was something else about the pattern of Spitzer's cash flow that raised FBI suspicions.
Maybe it IS safer to ask for a few thou in rolled coin and claim you need it for your vending machine or penny arcade business.
She said that it is bank policy to ask, and that it is on account of security laws. We shouldn't be surprised at this given everything that is going on around us.
I always use the flea market excuse, that is that I like to buy up antiques, and cash is king at such affairs.
I can see the day coming when I'll be asked to sign a form under pains and penalties of perjury; and eventually I think the government will stop printing C notes and maybe even Fifties.
By the way, TSA routinely asks me why I am carrying cash when I go through those full body scanners (I keep the cash in my pockets rather than chance it on the booked luggage or even in my carry-on.) They even ask more probing questions such as where the flea market is and what kinds of antiques I buy, etc. Be sure you have your act together and smile when answering their questions.
It's simply amazing how pathetically paranoid some people are.
I've traveled with thousand of dollars on me...yet to be questioned. And honestly, if some person (be it TSA or some bank teller) asked...I'd have NO problem telling them that I pay hookers...and they like the big bills. That'll end that conversation...with a hearty laugh.
Except for those who apply tinfoil to themselves. They'll then figure that someone will follow them.
If anyone has ever worked in a cash business...and yep, still plenty of them out there that aren't hookers or drugs...it's an everyday deal to have large sums of cash.
Posted By: bigvern
...regarding your currency?
I wouldn't recommend starting a protest prior to boarding an air plane. What possible security threat could your currency prose on a flight?
and I suspect that I'll be on a "do not fly" list the rest of my life.
There is no constitutional right to be allowed to board an airplane, at least not that any court has ever found.
There is evidence that terrorists deal in cash to hide their tracks, so the evidence of having a large sum of cash could be used as a pretext for rooting out a terrorist. Also it is well known that persons who deal in crime generally deal with cash for the same reasons, and the TSA probably feels like they are being useful in harassing those persons as well.
(Don't lose track of the fact that the hobby is, for the most part, illegal activity.)
Now I no longer carry cash on a plane. I just go to local ATM machines and figure the high fees from them are a better deal than the TSA hassle.
The key to getting cash without being questioned is not to withdraw it but to get cash back when making a deposit. I get 3K back without the teller batting an eye, except to ask me how I want it and whether I need an envelope.
Never heard of it. Lat week I withdrew $1,000 and teller asked large bills? I said give $800 in $100 bills, 2 fifty and 5 in twenty bills and that's what I got
My bank asks questions if I withdraw $500 in $100 bills. Do providers prefer large bills? I think that I can get $500 in $50s without attracting a lot of attention
It is your money and the bank is your servant, not your mommy asking what you want the money for. they are suppose to be providing a service not be commenting on your spending habits or ?
$500 isn't that much money. (?) unless maybe you are in some third world country.
Money is money.. as long as you don't short the girl her fee ... doubtful she cares the denomination. (as long as they are at least $20's... all dollars, fives, or tens might be embarrassing to look like a stripper) ha h
$3000 in $20s, very bulky and awkward. So I took them to my bank, merely to get them changed for $100 bills. Instead of just swapping them out, as I expected, they asked for my debit card, checked my account and looked at my activity.
What the hell?
Posted By: pete893illinois
My bank asks questions if I withdraw $500 in $100 bills. Do providers prefer large bills? I think that I can get $500 in $50s without attracting a lot of attention
This sounds like it might have been a case of checking that you were a customer of that bank. When "we" go to withdraw a wad, the bank knows its us accessing our accounts at the bank. If you were just depositing the cash, they'd know it's you putting money in your own account via a paper slip or plastic card.
Rolled coins, cash exchange ($1s / $100s), certified checks and other services are still usually reserved for customers at most banks. I think they just wanted to know that you were a customer of that bank and asked for your card to confirm that (and sort of treat it as a deposit / withdrawal even though it was a straight 20s for 100s swap). That's my guess
When dealing with trading out large amounts of cash, the bank has to be concerned with taking in counterfit bills. By ID'ing the customer they can track where the bills came from.
My suggestion is to actually report your income as some sort of service so you can simply deposit money in the bank. Yea, that means you have to pay taxes but your money is safe. The next best solution is to buy a safe for your home and store your bricks of cash there for your 'rainy day fund' and/or when you can make a large 'under the table' cash transaction.
a business for 20 years, I have my own corporation, and I pay all the taxes I owe to the US government. I do manage my bank account to minimize taxes-- and I had legitimate reasons for wishing to reduce the bulge in my wallet.
Please don't assume that every cash transaction is an exercise in secrecy and/or fraud
I've never been even given a pause when I ask for 100's. And frankly it's none of anyone at your banks business what you are withdrawing any amount of money for in any denomination. It's your money to do with what you want and how you want. This is the first time I've ever heard of such a thing.
I withdraw between $500 and $1000 from my bank on a regular basis-almost always in hundreds-and no one, not once, has ever asked me about it. The next time someone questions you report them to the branch manager.
Thanks to all I'm new to this activity. I think I'll try building up a cash fund over several months. Maybe changing $200 in $20s into $50s wont attract attentio
No banks, no chances of getting a bad bill passed, no questions from nosy tellers. Bitcoin is the perfect currency for the hobby. Great for providers who like to take deposits in advance of sessions, as bitcoin transactions are irreversible.
In addition, you'll have the knowledge that you are supporting the new currency, one which is not based on fiat, or debt, or the permanent war machine of the government.
Get involved, folks. If you really want to change the world, bitcoin is one way to have a real impact.
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Yeah, I'm sure that fooled a lot of people into thinking I was a Rockefeller. 
