Does it raise red flags changing large amount of money to higher dominations?

[Defying]

Lets just pretend I have a friend that has 10k in 20s and he wants it in 100s. Can he just bring it all in the bank at one time and have them swap it out..

Should he do it in smaller increments? how small?
Should he go to different banks - not just different branches?

 

[buddyboy]

depends, if they know you at the bank then just roll in there and ask them to do it, complain about the guy that bought your car paid you in all 20's

it used to be you could do it at grocery stores... they always need 20's and 10's and 5's and 1's... but probably not so much anymore with everyone using debit/credit cards.

you might try a check cashing place, they might need 20's

anymore you need to have an account at a bank to exchange bills, and a lot of branches don't even have 10k cash on hand.

if you lived close to me I would 'buy' your 500, 20 dollar bills for 98, 100 dollar bills... minus any counterfeit

 

[asweproceed]

I wouldn't do it and this is coming from a guy who has moved large amounts of legitimate currency for a business

 

[boss415]

At my b of a i am waiting in line to deposit my paychecks because there are so many merchants depositing or exchanging small bills. I dont think it would a red flag at a busy bank that deals with merchants.

 

[bounceback]

isn't a shame we have to worry about exchanging bills at a BANK?

 

[buddyboy]

merchants exchanging cash is normal and the bank makes money off those exchanges... an individual exchanging cash would raise an eyebrow, but again if they know you and you casually share a reasonable 'explanation' for the exchange you should be ok... if you roll in there acting shady and no one in the place knows you...well that teller is gonna cover their ass by filling out a SAR

 

[MattyMatt]

Done it numerous times...

 

[jamesbong]

Casino might be a good option if you have one nearby. Buy some chips, putz around a bit, then cash out.

Racetrack would work too. Buy a $1000 voucher from one teller. Make a $2 show bet at a self serve machine, cash it in at another tell for hundreds.

 

[boss415]

Casino might be a good option if you have one nearby. Buy some chips, putz around a bit, then cash out.

Racetrack would work too. Buy a $1000 voucher from one teller. Make a $2 show bet at a self serve machine, cash it in at another tell for hundreds.

Better yet stay and get a form and play a few !

 

[kidman232]

Casino might be a good option if you have one nearby. Buy some chips, putz around a bit, then cash out.

Racetrack would work too. Buy a $1000 voucher from one teller. Make a $2 show bet at a self serve machine, cash it in at another tell for hundreds.

Casino is a good option, buy in for a few thousand at the cage in small bills, tell them other players always yell at you when you buy in slows the game down. as long as you keep it to a few thousand you will be fine

 

[boss415]

Better yet stay and get a form and play a few !

Just thought of this , you can just buy vouchers off the machines at the track without even dealing with a human

 

[RoofTop]

10k in 20's is not that big of a deal

 

[slapshot]

Give your players a higher limit if they only pay in 20s :think2:

 

[TheComputerGroup]

Banks are gonna phase out $100 bills in the near future.......$50's also. F**Ker's want to go to a cashless system. Thegovt wants to keep tabs on everyone, & its not if, but when that happens, the govt will control legalized prostitution, legalized drugs, etc.......

 

[DrunkenHorseplayer]

Casino is a good option, buy in for a few thousand at the cage in small bills, tell them other players always yell at you when you buy in slows the game down. as long as you keep it to a few thousand you will be fine

No need to go to the cage; buy a voucher at a machine.

 

[cloverleaf]

Keep all CASH transactions UNDER $10,000.

$10,000 or more and banks will report it.

$9,900 they won't.

 

[MattyMatt]

Keep all CASH transactions UNDER $10,000.

$10,000 or more and banks will report it.

$9,900 they won't.

Yep. I was gonna say that too.

 

[jamesbong]

Banks are gonna phase out $100 bills in the near future.......$50's also. F**Ker's want to go to a cashless system. Thegovt wants to keep tabs on everyone, & its not if, but when that happens, the govt will control legalized prostitution, legalized drugs, etc.......

It's a little easier said than done and could have unintended consequences, but you are right that is direction some authorities want to go. They will still be legal tender, but they might stop printing new ones and take already existing ones out of circulation.

 

[valium]

Banks are gonna phase out $100 bills in the near future.......$50's also. F**Ker's want to go to a cashless system. Thegovt wants to keep tabs on everyone, & its not if, but when that happens, the govt will control legalized prostitution, legalized drugs, etc.......

Let me tell ya. Wish i had a quarter for ever time i have heard that the government is going to phase out the 100 bill. Been hearing that for thirty years.

 

[jamesbong]

Keep all CASH transactions UNDER $10,000.

$10,000 or more and banks will report it.

$9,900 they won't.

Just be cautious of "structuring" by breaking down a large cash transaction into smaller increments to avoid reporting. It is a crime.