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#1621145 - 10/27/11 07:43 PM Maximum Cash Withdrawal Limit
Scott832 Offline
New Poster
Joined: Aug 2011
Posts: 11
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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#1621914 - 10/30/11 12:26 AM Re: Maximum Cash Withdrawal Limit Scott832
MagicCity Offline

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MagicCity
Joined: Apr 2003
Posts: 3,003
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 05:26 PM Re: Maximum Cash Withdrawal Limit MagicCity
Rocky P Offline
Power Poster
Joined: Jun 2003
Posts: 7,659
Florida
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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