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/biz/ - Business & Finance

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885013 No.885013 [Reply] [Original]

What's the typical procedure for withdrawing $10,000+ from a savings or checking account at one time from a typical US bank?

>> No.885034

If only someone invented a search engine that could answer questions like this

>> No.885050

>>885013
there is no procedure
you go to the bank in person and withdraw the money

the bank submits a file to the government because money of 10,000 or more moved locations in one go, but other than that nothing happens

>> No.885415

This info is usually deep inside independent bank policies which is why I asked. I knew you had to go in to the actual desk.

I believe there is even a waiting period for large sums.

Definitely not the simple procedure it's made out to be here which is why I asked in the first place about "typical" or average procedure..

>> No.885488

depends on if you want to withdraw it in cash or in a bank check. a majority of banks require a couple days notification before hand if you need such a large cash withdraw because they don't keep that many physical paper bills on hand.

>> No.885505

>>885488
This. I tried to take $6k out of my bank once to buy a car and they only could give me $3k and a cashier's check.

>> No.885507

I'd call ahead and ask, because they generally don't keep a lot of cash on hand because they don't like being robbed.

Now if you request 10k to be available on Sep 12 and the bank gets robbed, you become a very interesting person to the FBI.

>> No.885512

>>885507
Request to withdraw $5k+ every day for a year in a high-crime area, yolo

>> No.885515

>>885512
They ask for your account mang.

>Hi WesBanco
>Can I have 5k cash available tomorrow
>Sure, what's the account?
>Oh don't worry you'll know me when you see me

>> No.885530

Anyone else have trouble recently with debit caps? Found out I can't make a purchase over $1k using my debit card. Even if I get it raised, my bank caps all debit card purchases at $2.5k

>> No.885545

>>885515
>collect $1,560,000
>put it in a checking account
>now follow those steps
>????
>profit

>> No.885549

>>885545
I think I'm missing the profit part...

Unless you like being mugged and/or being investigated by the feds.

>> No.885659

>>885530
Fair enough. Fraudulent Debit transactions are hard to rectify, and it's the banks problem directly

Any reason you use debut over credit for such amounts?

>> No.885662

>>885013
>What's the typical procedure for withdrawing $10,000+ from a savings or checking account at one time from a typical US bank?

They will ask for significant ID and verification and report the withdrawal because you are withdrawing a large amount at once.

>> No.885790

>>885013

I pulled 17k at Chase one time. I don't even bank with them. Counting by hand was the longest part....

>> No.886414

Summary of this post: Even if you have it it'll take days or week or months to get it out and the feds suspect you of being a criminal right off either as a thief, hostage taker, or some spy trying to tank the economy.

>> No.886489

>>885790
Did you cash a check?

>> No.886493

>>886414
Basically, but in reality just just ask to withdrawal it and they check if they have enough cash on hand. When ever I have done it, there were no issues. You can call ahead as sometimes there may have been large withdrawals before you and they may be short on cash.

>> No.886496

Withdraw it $9999 at a time.

>> No.886526

>>886496
The only thing worse than having a report sent to FinCen is having a report sent to FinCen that you're trying to evade having reports sent to FinCen. They aren't dummies. Enjoy your audit, investigation, and likely prosecution.

>> No.886528

>>886496
GENIUS

>> No.886544

>>886496
These are called structured withdrawals/deposits and they look even more suspicious to the government than the occasional large withdrawal.

>> No.886582

Just ask for a fucking cashier's check, God damn. Unless you're buying drugs or something else illegal, which you shouldn't even be buying with money withdrawn from your account in those quantities anyway.

>> No.886587

>>886526
But I'm not doing anything wrong and I enjoy fucking with them. Been doing it for decades and haven't been audited yet.

>> No.886637

>>886587
>haven't been audited yet
LOL, FinCen isn't the IRS. I don't mean a tax audit. I mean the Feds have secretly reviewed your financial records and may be electronically monitoring your transactions. You'll never know.

Do some research on FinCen. You'll lose some sleep, and you'll stop being such an edgy cunt and steer clear.

>> No.886660

>>885013

Generally, your bank will have a daily withdrawal limit to prevent fraud. All you have to do is inform the bank you are taking a large amount out at once so they don't flag it.

>> No.886677

>>886414
>Days
Probably not even, a like 2 at most.

And a notice will be sent to the feds. They'll just file that you did withdraw 17k or whatever. They won't investigate unless you withdraw serious money (probably like 50k+) or regularly withdraw large amounts (like that smartass who suggested $9999).

Point is, normal people don't take out massive cash withdraws more than once every few years, if even. Any other behavior is highly likely to be laundering/criminal.

>> No.886685

>>886637
I haven't attracted meaningful attention for the last several decades. By now, they are used to me moving a lot of money around on a regular basis. Occasionally I throw in a strange looking transaction to entertain myself. I know what FinCin is, dickwad. I've never made a single illegal transaction or tried to illegally dodge a single dollar of tax in my life, so I don't give a flying fuck what they are looking at.

>> No.886696

>>886685
>I know what FinCin is, dickwad. I've never made a single illegal transaction or tried to illegally dodge a single dollar of tax in my life
Obviously you don't since you keep talking about taxes. FinCen (not FinCin) doesn't investigate tax fraud.

Obviously you're trolling and don't have $999 -- let alone $9999 -- to tease the government. Which is a shame, because you'd be a great example of social Darwinism.

>> No.886712

>>886696
My investment portfolio is hovering around the mid 7 figures these days. How's yours doing?

>> No.886713

>>886712
On the internet, everyone is a millionaire.

>> No.886722

>>886712
>My investment portfolio is hovering around the mid 7 figures these days. How's yours doing?
Kek Next time you want to play the "I'm rich" card remember that there's always someone with a lot more than you. In this case, that someone is me.

>> No.886803

>>886489

No, swiped my debit card as credit. Any bank is required to accept per MasterCard/Visa agreements to do business with these banks. It was a "cash advance".

>> No.886804

>>886722
do you just come on here to fuck with people? or do you ever chime in with a better attitude?

>> No.886837

>>886804
There's an archive if you want to see what I've contributed (or not contributed) to the board. Make up your own mind.

Zero fucks given either way.

>> No.886845

>>886587

>yfw cops take that cash as civil forfeture

>> No.886926

>>886722
Rekt

>> No.887005

>>886803
Were you in a town that allows gambling perhaps?

>> No.887009

>>885050

Depends on the bank. Truth is, a majority of banks don't have more than $100K in cash sitting at the bank. Most banks have a withdrawal limit of $5-10K. If you want to take out more than that, then you would have to notify them and they will schedule a day you can come and withdrawal that amount. That said, I have no idea what a person would need that much cash for. If you are buying a car or house, then you would be better off writing a check.

>> No.887420

>>886712
>In this case, that someone is me

>rekt

>> No.887451

As a teller for two years at two different institutions, yes you can withdraw that no problem.
Do you live in buttfuck nowhere?
Call to have your money ready.
Living anywhere else?
You're set.
1 thing, banks will report you and take down a bunch of your information, (what do you do, what will it be used for[car]) if you have cash on you over $9,000, that's still whether you're withdrawing or depositing. If you don't want to waste your time take it out in two chunks, maybe even 3 if you play it safe and under 5K

Or a single cashier's check will do. See if you can have the cashier's check fee waived by being chill with the bossman or having set up good prior reputation with tellers....ultimately we're the ones that inform the Feds of a suspicious withdrawl

Brah, I'm sure other tellers here can tell you, banking is laid back and chill. Tellers can pull strings to help you You may never have to pay for checks and other shite. All banks are equal, rates change, find a branch with good people and you'll be set.

That's it, continue onwards comrade.

>> No.887575

>>886803
No. Outside Spokane.

>> No.887604

>>886713
Yet 99% of them don't know how to move money or even do basic banking in some cases.. They are either fake or living off their parents wealth and stupid.

>>887009
Buy from owner situations where wire transfer doesn't work logistically or buying non-fiat or foreign currency and more..

>>887451
This is a closer post. Accurate and answers OP.

Basically you have to go in to the bank, verify a lot and expects the feds to take notice, and unless you're at a major branch in a big city you'll likely be waiting for a transfer..

>> No.887688

>>885512
This is technically illegal. It's called structuring

>> No.887691

I withdrew 70k and got a cashiers check

>> No.887814

>>887688
It's only illegal if the intent is to avoid having the bank report the transactions. If you're in an all-cash business, or you just like setting up a physical pool of money in your indoor pool, it's not illegal.

Pretty much it's another charge to tack onto money laundering or other racketeering.

>> No.888192

>>887688
Great point anon. Innocent people have had the IRS freeze accounts because of this. At the end of the day, they aren't going to come after you for withdrawing your own money. If you are that paranoid, sounds like you need to go get some gold and bury it.

>> No.888193

>>888192
....which remind me.

>> No.888220

>>886845
That's the thing that really scares me.

>> No.888241

Ihad a super good deal come up and i tried to withdraw 15k cash and they told me i had to pre order it....so i got pissed and the chick told me I can withdraw 2k at different branches so i went on a withdrawing spree across the cities