1. Welcome to PlowSite. Notice a fresh look and new features? It’s now easier to share photos and videos, find popular topics fast, and enjoy expanded user profiles. If you have any questions, click HELP at the top or bottom of any page, or send an email to help@plowsite.com. We welcome your feedback.

    Dismiss Notice

can I take out 10k cash out of bank.

Discussion in 'Commercial Snow Removal' started by plow3232, Feb 19, 2011.

  1. plow3232

    plow3232 Senior Member
    Messages: 139

    ok this is off topic, but I need help now and I didn't get any info. Can I deposit 10k check and then when it clears cash it? my dad said that they only give you 3k and other person said no problem. I need to know because I plan on buying a suv and will need to travel this week. this will be in a personal bank account thanks
     
  2. Um call your bank and ask maybe?
     
  3. blogsdon

    blogsdon Member
    Messages: 63

    From what I understand you can do it but it will be delayed some due to Homeland security. Any deposits or withdraws over 9999.99 are checked out by homeland security to make sure it is not a terrorist funding operation. The bank must report all transactions above that amount.

    Just what I remember hearing. JMHO.
     
  4. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,045

    Yes as long as the money is clear in your account and the bank has enough cash on hand.
     
  5. Camden

    Camden PlowSite Fanatic
    Messages: 6,598

  6. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,045

    Your better off paying with a bank draft anyways, it's treated the same as cash and that's how I buy vehicles in Canada or the US.
     
  7. lilpusher

    lilpusher Senior Member
    from Indiana
    Messages: 140

    I have cashed checks over 10k a couple of times without depositing. They will have to report it to homeland security for amount larger than 10k. I did have one tell me to come back later so they could get cash out of the vault
     
  8. lilpusher

    lilpusher Senior Member
    from Indiana
    Messages: 140

    Btw I agree with JD Dave. Safer , much much safer
     
  9. PrimoSR

    PrimoSR Senior Member
    Messages: 553

    You can take out any amount to want...as long as the bank has that much cash on hand. All banks have a risk level and won't keep more than x amount in cash. If you deposit a $10k check there will be a hold placed on it for x number of days, they may however make some of it available if they can verify funds. Also, they will file a Suspicious Activity Report because of the amount of the deposit/withdraw and the fact that is was deposited and withdrawn in the same week. However a SAR doesn't mean anything as long as you are not doing anything illegal.
     
  10. Mr.Markus

    Mr.Markus PlowSite Fanatic
    Messages: 5,160

    Ummmmmmm... Where ya going????....Just askin...... no reason......just curious! Need a lift?
     
  11. PrimoSR

    PrimoSR Senior Member
    Messages: 553

    x3................
     
  12. plow3232

    plow3232 Senior Member
    Messages: 139

    thanks everyone, I think I'm going to do the bank draft but it takes the same as a check to clear, and I need to be gone the same day I get there. This is BS
     
  13. plow3232

    plow3232 Senior Member
    Messages: 139

    that's not what the bank said. I wish I could do it like that. This is becoming stressful
     
  14. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,045

    A bank draft is as good as cash. I buy vehicles from people in the US and I'm in Canada and they accept this as a form of payment. The money is taken directly from your account when the bank draft is issued. Not sure what the problem could be.
     
  15. plow3232

    plow3232 Senior Member
    Messages: 139

    I thought the same thing until the bank said that it could be as same as a check.
     
  16. bizzo15

    bizzo15 Senior Member
    Messages: 107

    Yeah don't used a regular check, Have your bank issue you a bank certified check. It will clear as good as cash because the issuing bank is guaranteeing the availability of funds. It may cost you a few bucks but it's definitely worth it
     
  17. JD Dave

    JD Dave PlowSite Fanatic
    Messages: 11,045

    A bank draft is basically a certified cheque both will work in his situation. Once you give a person and a bank draft or certified cheque there is no way to cancell it as the funds have already been taken from your account.
     
  18. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Is this check drawn on same bank that you have? If so you can get the cash right away.
     
  19. PrimoSR

    PrimoSR Senior Member
    Messages: 553

    Depending on where you live it may also be call a cashiers check.
     
  20. grandview

    grandview PlowSite Fanatic
    Messages: 14,609

    Don't forget ,banks are closed on Monday for Presidents day.