How much cash can you carry? Is there a law?

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Originally Posted by Ridge

I don't regularly carry cash. I rarely have more than $20 in my pocket, which is already uncommon.

Why don't you like keeping money in the bank, where it's actually insured if it's lost or stolen?

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For me personally, I don't mind keeping money in the bank. I just take issue with a percentage of every transaction made with a piece of plastic being taken by a bank. We often complain about inflation, but we seldom talk about the increase in the costs of goods as the result of including a middle man when we buy everything from electronics to a can of soda at a gas station with a credit or debit card.

Out of principal, I use cash whenever I can. As was also mentioned in the thread - I also don't care for anyone to know what I purchase and when. It is between me and the seller.

Also, the 10k limit on a deposit is the trigger to fill out tax related forms, but the deposit amount to get you 'flagged' (a report filed) at the bank is much lower. Somewhere around 3-6k.

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Originally Posted by Ridge

... Why don't you like keeping money in the bank, where it's actually insured if it's lost or stolen?

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http://www.silverdoctors.com/us-bank...ends-dec-31st/

http://westernrifleshooters.wordpres...nking-and-men/

The percentage being taken is taken from the person receiving the transaction. If they are charging you for it, then that is in violation of their credit card service agreement, and they can be prevented from using those services in the future.

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Originally Posted by davsel

http://www.silverdoctors.com/us-bank...ends-dec-31st/

http://westernrifleshooters.wordpres...nking-and-men/

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The first link is extremely biased, as they are trying to move you away from paper currency to their product. How many places actually take gold/silver as payment? Can you buy groceries with silver?

The other is an opinion piece from someone with no background in the financial or economic sectors.

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Originally Posted by Ridge

The percentage being taken is taken from the person receiving the transaction. If they are charging you for it, then that is in violation of their credit card service agreement, and they can be prevented from using those services in the future.

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Correct, Ridge. But do you not think that expense is considered when they price their goods?

It's not that it's illegal, but they'll certainly be curious about you carrying more than $10K at a time. Namely when you're traveling somewhere. They won't give you too much guff if you're on your way to buy a car cash (and can provide proof of income if necessary), but if you're taking an international flight and have $125K in a briefcase, they're going to have some questions for you.

The bank told me that also

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Originally Posted by hobowh

it is my understanding tat the 10k limit on transactions was changed to 5k several years ago for banks etc. That is what the credit union told me when I deposited my fathers inheritance check for him.

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Don't like banks, just got divorced. Just like having the cash

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Originally Posted by Ridge

I don't regularly carry cash. I rarely have more than $20 in my pocket, which is already uncommon.

Why don't you like keeping money in the bank, where it's actually insured if it's lost or stolen?

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Well it sounds like the biggest worry is having the Police steal it

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Originally Posted by brokenscout

Well it sounds like the biggest worry is having the Police steal it

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LOL..sadly, the truth.. not necessarily the police.. just the big .gov in general where ever your money in what ever form.