Is there a limit to how much a bank can give you in cash? Like $6,000.00???... out from your savings account or checking...
2007-08-12 12:20:30 · 4 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Depends on the bank. I know my bank only allows a daily withdrawl of 3000.00 USD. Your bank may be different. You will need to contact them when they open.
2007-08-12 12:28:13 · answer #1 · answered by Herr Oberst 3 · 0⤊ 0⤋
Legally they can give you whatever the balance of your account is. Any transactions of $10,000 or more must be reported to the Treasury Department. The purpose of this reporting has NOTHING to do with taxes. It is designed to detect money laundering and other financial crimes. A single transaction will literally never be noticed.
As a practical matter, no bank has unlimited amounts of cash, If you wish to make a large cash withdraw, it wouldn't hurt to call ahead to make sure they have enough cash available. $6,000 should be no problem.
2007-08-12 14:29:20 · answer #2 · answered by STEVEN F 7 · 0⤊ 0⤋
A bank isn't going to give you more money back than you have in your account unless they make you a loan. Some banks have restrictions on very large amounts involving hundreds of thousands or millions of dollars. They may require a few days notice for such large withdrawals. On smaller withdrawals, it should not be a problem with most banks.
2007-08-12 12:28:11 · answer #3 · answered by Flyby 6 · 0⤊ 0⤋
It's typically $3,000 for cash.
Any transaction of $10,000 or more is automatically reported to the IRS.
2007-08-12 12:32:34 · answer #4 · answered by Anonymous · 1⤊ 1⤋