will the bank report me?

Question

will the bank report me to the government for taking out 10,000? i heard that’s the limit but i’m so confused. someone told me this and i’m paying cash for a car. I have more than that but I know I can’t take out so much at a time. please no judge mental comments or smart remarks I really don’t know lol i’m 23.
and may I add I earned all of this money working and taxes!

Answer

For what? It’s your money.

Answer

No. If it was $10,001 they would have to fill out a report. It'd mandatory by the government to prevent fraud. It'd part of the regulations banks and credit unions have to follow by law. I'm a banker and fill these out often

Answer

No it's non of their business

Answer

I worked at a bank for 7 years. The amount is anything over 10,000 so may it be a dollar or some change. It’s called a CTR, currency transaction report, this is to help with any embezzlement, terrorist and other illegal activity. 
If you’re not doing anything wrong than your fine! ☺️

Answer

I would recommend looking this info up on google. You will find you answer there. But let’s just say there are many laws in banking surround money laundering, embezzlement, and funding of terrorist activities that require information being submitted to the government. Ex banker here, lead teller customer service.

Answer

Banks usually limit because they only have so much there in a day. They tried to tell me I can’t take out more than 2k (smaller bank) and I said I’d like to withdraw all my money and close then. They put in a request to have the money I needed the next day as to not lose me. They are a good bank and I’ve been with them for years, just had to explain why I needed the money. Also if anything’s reported its to check for fraudulence cuz people usually rarely need to take out that much cash for something. You should be okay though! Just provide proof of purchase if anything

Answer

“A currency transaction report (CTR) is a bank form used in the United States to help prevent instances of money laundering. This form must be filled out by a bank representative who has a customer requesting to deposit or withdraw a currency transaction greater than $10,000.”

will the bank report me?

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