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December 3, 2014
Overdrafts: Latest Regulatory Feedback, Guidance & Best Practices Webinar
David Dickinson and Jerod Moyer

December 4, 2014
Freebies, Bonuses and Contests
John Burnett and Andy Zavoina

December 9, 2014
Bankruptcy: Creditor Do's and Don'ts
Sam Ott

December 10, 2014
Branch Audits: What Is Going On Out There?
Patricia Cashman

December 11, 2014
Setting up New Accounts for Trusts
Mary Beth Guard

December 17, 2014
Integrated Disclosures - An Implementation Strategy
Mary Beth Guard and Jack Holzknecht

December 18, 2014
Loan Review Best Practices for a Community Bank
Bob Fritzlan

December 19, 2014
PREPAID PRODUCTS - Understanding the CFPB Proposal
John Burnett



Topic Options
#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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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: 2871
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: 4742
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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