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what is the largest amount i can do a cash withdrawl for without getting a red flag

 
mrs.clueless
User ID: 1365455
United States
05/03/2011 11:03 AM
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what is the largest amount i can do a cash withdrawl for without getting a red flag
will a 8k Withdrawl give u a red flag on your account
Anonymous Coward
User ID: 658249
Netherlands
05/03/2011 11:03 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
25k where I live
Anonymous Coward
User ID: 1309109
United States
05/03/2011 11:04 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
yea probably if it is not something you normally do..if u can go to the bank and withdraw it and give them a story about buying a used car or something, should be fine
Anonymous Coward
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05/03/2011 11:05 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
Anything $10k or over requires the bank to make a report to the IRS. The bank is also required to report if you make a series of smaller withdrawals that add up to $10k or more.
Anonymous Coward (OP)
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05/03/2011 11:05 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
yea thats what i'm doing i'm going to buy a car i seen on craigslist
Anonymous Coward
User ID: 1368055
United States
05/03/2011 11:06 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
Who gives a fuck ? It's your goddamn(Lord forgive me)Money!
Anonymous Coward
User ID: 1347056
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05/03/2011 11:06 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
will a 8k Withdrawl give u a red flag on your account
 Quoting: mrs.clueless 1365455


9999
klc_infowarrior

User ID: 1242991
Canada
05/03/2011 11:07 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
$1000 here...they start asking questions and want to know why you can't use your debit card instead (to make purchase)

Most banks don't carry much physical paper anymore..its all numbers on a screen. I doubt they even have $8000 sitting in the vault...they'd prolly have to order it.

Last Edited by klc_infowarrior on 05/03/2011 11:09 AM
Live the life you love..Pick a God you trust..And don't take it all too seriously...
Anonymous Coward
User ID: 1249032
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05/03/2011 11:07 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
so what if it's reported to the IRS? is there some new tax I never heard of?
klc_infowarrior

User ID: 1242991
Canada
05/03/2011 11:08 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
...

Last Edited by klc_infowarrior on 05/03/2011 11:08 AM
Live the life you love..Pick a God you trust..And don't take it all too seriously...
Anonymous Coward
User ID: 1257667
United States
05/03/2011 11:09 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
There are federally mandated targets in the US for notifying the IRS, but it's bigger than that. As an employee of a large Bank of American origin, I can tell you that they use a program called "Know The Customer (KTC)" which mandates that account reps, tellers, etc know pay close attention to what your usual business is for deposits and withdrawals. If you suddenly deposit or withdraw an unusually large or different amount, they will flag you for review, regardless of whether it meets the $9,999 flag for IRS notification. So, in essence - if you do something dramatically out of your normal routine they will report you and start watching you closely.
spock
Anonymous Coward
User ID: 1257667
United States
05/03/2011 11:11 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
so what if it's reported to the IRS? is there some new tax I never heard of?
 Quoting: Anonymous Coward 1249032


If they report to the IRS you get put on a special review list for money laundering and illegal activities. They'll crawl up your ass with a microscope and watch EVERYTHING you do financially for a long time.
1984
Anonymous Coward
User ID: 1309109
United States
05/03/2011 11:12 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
yea thats what i'm doing i'm going to buy a car i seen on craigslist
 Quoting: Anonymous Coward 1365455


You should be fine then..I did same thing..my bank is pretty small though. They asked if they could see it after I bought it...and I did go ahead and drove it up to the bank for them to see..I didnt have to but they were small town folks and I knew they just wanted to see what the car looked like..You should have no problems at all.
Anonymous Coward
User ID: 1221764
United States
05/03/2011 11:12 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
$1000 here...they start asking questions and want to know why you can't use your debit card instead (to make purchase)

Most banks don't carry much physical paper anymore..its all numbers on a screen. I doubt they even have $8000 sitting in the vault...they'd prolly have to order it.
 Quoting: klc_infowarrior


Wow that sucks. If my bank asked me why I needed it I'd tell them to fuck off and I'll take all my money out and go else where. I do large withdraws sometimes. They never say anything. Just get the manager to sign it and hand it to me. I can tell you that they do have a lot of money in the second drawer, possibly over 10k. Vaults probably have 100k in them I would think.
Anonymous Coward
User ID: 1311939
United States
05/03/2011 11:17 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
$1000 here...they start asking questions and want to know why you can't use your debit card instead (to make purchase)

Most banks don't carry much physical paper anymore..its all numbers on a screen. I doubt they even have $8000 sitting in the vault...they'd prolly have to order it.
 Quoting: klc_infowarrior


Wow that sucks. If my bank asked me why I needed it I'd tell them to fuck off and I'll take all my money out and go else where. I do large withdraws sometimes. They never say anything. Just get the manager to sign it and hand it to me. I can tell you that they do have a lot of money in the second drawer, possibly over 10k. Vaults probably have 100k in them I would think.
 Quoting: Anonymous Coward 1221764


They have to have somewhere around 10-13% of their customers total deposits physically at the bank.
Girl Genius

User ID: 1133676
United States
05/03/2011 11:19 AM

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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
There are federally mandated targets in the US for notifying the IRS, but it's bigger than that. As an employee of a large Bank of American origin, I can tell you that they use a program called "Know The Customer (KTC)" which mandates that account reps, tellers, etc know pay close attention to what your usual business is for deposits and withdrawals. If you suddenly deposit or withdraw an unusually large or different amount, they will flag you for review, regardless of whether it meets the $9,999 flag for IRS notification. So, in essence - if you do something dramatically out of your normal routine they will report you and start watching you closely.
spock
 Quoting: Anonymous Coward 1257667


Exactly what I suspected.
For nothing is secret that will not be revealed…

:blue-faeries:
Anonymous Coward
User ID: 1366528
United States
05/03/2011 11:22 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
so what if it's reported to the IRS? is there some new tax I never heard of?
 Quoting: Anonymous Coward 1249032


If they report to the IRS you get put on a special review list for money laundering and illegal activities. They'll crawl up your ass with a microscope and watch EVERYTHING you do financially for a long time.
1984
 Quoting: Anonymous Coward 1257667


Fuck it thats why I would never store large sums of money at an official bank. Id make my own cubby hole bank vault or something.
YaRight

User ID: 1219589
United States
05/03/2011 11:26 AM
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Re: what is the largest amount i can do a cash withdrawl for without getting a red flag
Few things I know

One…. small branch banks don’t have that much cash so go to the main bank


Two…. They are right if you start to move monies “large” in and out they will flag you for review.

Third… It is YOUR money so you can take whatever you want out as long as your clean I see no issue.

Some things to remember …. If you are just talking it out from fear of bank lock down then you better have a good plan on where you will keep it …. Remember house fire / robbed whatever = bye bye $

Last Edited by YaRight on 05/03/2011 11:27 AM
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