Seems like a good idea before there is a bank run due to various reasons. Do I have to report a withdrawal of like 5k?
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Or wire transfers. Not withdrawals, usually
False. They look at withdrawals as well. Even the person who worked at a bank who commented here said it. Part of the patriot act or some shit
That’s right, it is part of the Patriot Act. Worked for a bank for many years. Every single cash transaction (deposit or withdrawal) over $10k gets a Currency Transaction Report. Cash being the operative word. Wires or checks don’t fall under that rule.