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

[Post Toastie]

I usually don't have more than $40 on me ever... thats what credit cards are for. If my credit card gets stolen my bank calls me and lets me know before I would know many times.

There are many circumstances where I would rather not use my card. Purchases are too easily tracked...

[02ducky]

You must be a drug dealer... It's for the children

[ChunkyMonkey]

Don't they have to prove something to take it?

No they dont.. My partner's $50k in cash were seized by DHS because he didn't have paper trail. He had to prove that its all taxed money to get it back. $3000 in lawyer fee and 3 months later, he got it back. It was ridiculous. Gold/silver/diamond investors deal with cash only sometimes.

[DingleBerns]

I don't carry any cash on me, only plastic. All my cash is in the bank and i use the card to build up miles.

Edit: I lied, I carry $1.08 on me everyday for a breakfast burrito on the way home from work (only because there is a $4 minimum to use plastic).

[KestrelBike]

I sold my bike a few years ago for $7,000, and that cash was burning an incredible hole in my pocket as my sister demanded we go pumpkin shopping immediately afterward. Couldn't get to my credit union fast enough heh.

[Storm]

There is no law regarding how much cash you are allowed to carry. The $10,000 number is how much the bank must report if you make a deposit or withdrawal in cash. (And multiple $9,999 transactions to avoid the report is a crime too).

The problem is that if police find a large amount of cash, they confiscate it - claim that its the proceeds of crime - and make you prove its not.

Someone tell me exactly how in the h**l this is not a violation of the 4th and possibly 5th amendments.

BTW, I've been very aware of this law for the past 25 or so years and it still p**sses me off!

[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?

[brutal]

You can carry around as much in cash and gold as your helicopter will allow if you're Rich Wyatt.

[Post Toastie]

You can carry around as much in cash and gold as your helicopter will allow if you're Rich Wyatt.

Word!

[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.