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#1621145 - 10/27/11 03:43 PM Maximum Cash Withdrawal Limit
Scott832 Offline
New Poster

Registered: 08/17/11
Posts: 11
Loc: Houston, TX
Can I bank limit the amount of cash they allow thier customers to withdrawal? Here is the scenario:

Teller Max Amount: $2,000
Lobby Max Amount: $3,000 but can get approval for more
Total Max Amount: No expception allowed for more than $10,000.

They aren't doing it to avoid CTR's, but they are worried about cash runoff. Can a bank impose a 10K or even 11K max cash daily withdrawal limit?
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Problems cannot be solved at the same level of awareness that created them.
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BSA/AML/CIP/OFAC
#1621914 - 10/29/11 08:26 PM Re: Maximum Cash Withdrawal Limit [Re: Scott832]
MagicCity Online


Power Poster

Registered: 04/28/03
Posts: 2951
Loc: Fort Lauderdale, Florida
I am aware of banks that do this.
$3,000 is often the max allowed; the balance is paid with a Cashiers Check.
It is because the branches simply do not carry much cash.
If a customer insists on a large cash amount, they have to wait for it to be ordered for them, and then they must sign a form which reminds them of the risk of having that much cash and indemnifying the bank.
So yes, you can have it in your policy and decide your limit, with exceptions.

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#1621927 - 10/30/11 01:26 PM Re: Maximum Cash Withdrawal Limit [Re: MagicCity]
Rocky P Online
Power Poster

Registered: 06/24/03
Posts: 5051
Loc: South Carolina
If a bank were to create limits, I would recommend a lobby sign with the information.

Also, check state law if there are any limitations
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