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  • Carrying large amounts of cash legal?

    This may be a silly question but one of my friends is under the impression that carrying large amounts of cash, over $10000, is somehow illegal. I cannot see any reason why it would be. Last year I bought a new car with cash but like any sane person I used a cashiers check. If I was an idiot and withdrew $54000 in cash (assuming my bank would even allow that) and drove to the dealership would any laws be broken? I believe my friend is wrong here isn’t he?

  • #2
    Originally posted by threeofnine View Post
    This may be a silly question but one of my friends is under the impression that carrying large amounts of cash, over $10000, is somehow illegal. I cannot see any reason why it would be. Last year I bought a new car with cash but like any sane person I used a cashiers check. If I was an idiot and withdrew $54000 in cash (assuming my bank would even allow that) and drove to the dealership would any laws be broken? I believe my friend is wrong here isn’t he?
    Your friend is correct. Anyone with more than $10,000 cash in their possession should PM me ASAP. I'll be happy to take the illegal money off your hands and dispose of it in accordance with federal, state and local requirements. No questions asked.

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    • #3
      Originally posted by not.in.MY.town View Post

      Your friend is correct. Anyone with more than $10,000 cash in their possession should PM me ASAP. I'll be happy to take the illegal money off your hands and dispose of it in accordance with federal, state and local requirements. No questions asked.
      Unfortunately I currently only have $9999.99 on me otherwise I’d certainly contact you

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      • #4
        Originally posted by threeofnine View Post

        Unfortunately I currently only have $9999.99 on me otherwise I’d certainly contact you
        Have you checked your home and vehicles for loose change? If you've got $9,999.99 of cash on you...and then unknowingly sit on a couch that has a penny stuck between the cushions...then you're considered to be over the threshold and are subject to arrest and seizure.

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        • #5
          Originally posted by not.in.MY.town View Post

          Have you checked your home and vehicles for loose change? If you've got $9,999.99 of cash on you...and then unknowingly sit on a couch that has a penny stuck between the cushions...then you're considered to be over the threshold and are subject to arrest and seizure.
          Well, after a quick trip to Taco Bell I’m down about $8. I’ll dig through my couch as soon as I’m back home to see if I can make it up.

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          • #6
            Under Federal law, you're required to carry that quantity of cash in a stainless steel briefcase, handcuffed to your wrist. Unless you're a gameshow host, and I'll assume you aren't if you're eating at Taco Bell...
            "He who fights with monsters might take care lest he thereby become a monster. And if you gaze for long into an abyss, the abyss gazes also into you."
            -Friedrich Nietzsche

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            • #7
              Only if crossing a US Border, and it’s not illegal, just mandated reporting.
              Now go home and get your shine box!

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              • #8
                Originally posted by threeofnine View Post
                This may be a silly question but one of my friends is under the impression that carrying large amounts of cash, over $10000, is somehow illegal. I cannot see any reason why it would be. Last year I bought a new car with cash but like any sane person I used a cashiers check. If I was an idiot and withdrew $54000 in cash (assuming my bank would even allow that) and drove to the dealership would any laws be broken? I believe my friend is wrong here isn’t he?
                A bank will allow you to take out that much money, assuming you have those funds available. Otherwise, how would you close your account? Banks gain and loss customers all the time. They may throw a fit and have you sit with the branch manager but they can’t stop you. BofA didn’t even bother going above the teller level.
                semper destravit

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