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DeluxeXL t1_j6l7awd wrote

No. The bank will do the reporting for you. Why do you need to withdraw that much in physical cash?

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lalaba0987 OP t1_j6l7lt3 wrote

For an event abroad.

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DeluxeXL t1_j6l82xz wrote

Don't forget to declare it at Customs.

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lalaba0987 OP t1_j6l88tn wrote

Can you please explain more about that?

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BlazinAzn38 t1_j6l8rhm wrote

When you enter a country you need to declare currency on hand above a certain amount. $10,000 certainly qualifies as requiring declaration

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nothlit t1_j6l8wz2 wrote

> When you enter a country

Or depart, in many cases

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t-poke t1_j6l9jsw wrote

Why do you need to travel with that much cash though? That is a very bad idea, can’t you pay for whatever you’re paying for electronically? What is this event anyways that requires a $10,000 personal loan.

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sammiemo t1_j6nisxz wrote

That might be personal for OP, but I know someone who adopted a baby from China who had to bring cash with them to China to do so. It was nerve wracking for them. This was 15 years ago.

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ColombianOreo524 t1_j6l8j2w wrote

Only if cash is in play. Here are some examples if the loan is at a different bank from your regular bank:

  • Bank A (loan) is withdrawn in cash of 10k or more - would need to be reported. Then you deposit the cash in bank B (your bank) of 10k or more - needs to be reported.

  • Bank A (loan) is transferred to Bank B (your bank) - no report. Then you withdraw 10k or more in cash - needs to be reported.

  • Bank A (loan) is transferred to Bank B (your bank) - no report. Then you transfer or write a check for 10k or more to do whatever you need - no report.

Reporting doesn't matter unless you're doing something illegal though. So if it's just buying something and you think it's better to pay with cash - you're likely fine. If you are doing something illegal, shame on you.

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nkyguy1988 t1_j6l7djw wrote

You talking cash dollar bills?

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lalaba0987 OP t1_j6l7jql wrote

Yes

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nkyguy1988 t1_j6l7pmo wrote

Bank is required to do the reporting for you.

Why do you need to move that much currency? Get a check or bank check.

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lalaba0987 OP t1_j6l7xmd wrote

I don’t know if bank checks work everywhere because some countries use cash more than bank.

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nkyguy1988 t1_j6l8cuc wrote

If traveling you will get into travel declaration requirements with customs. I'd look for alternatives besides traveling with large amounts of cash.

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kittydreadful t1_j6l9c6c wrote

That seems like alot of cash to travel with. Can you wire it to someone instead?

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lalaba0987 OP t1_j6l9p3a wrote

Wouldn’t wire and travel be the same in term of reporting?

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SkyliteBlueSnake t1_j6nyihs wrote

Yeah, but with a wire, you don't have to spend the length of an international flight freaked out about the amounts of cash you have strapped to your body.

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kittydreadful t1_j6lblnw wrote

From experience, no reporting because you’re likely not trying to hide money or do something dodgy. Governments don’t like cash, they can’t trace it. Wires they can trace.

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PM_Georgia_Okeefe t1_j6mtgas wrote

Report to who?

IRS? No. It's not income. The bank will know where the money is coming from in terms of terrorism reporting rules, so it's not your problem. And then it's your money to do with as you please.

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