Skip to content

Can Bank Decline to Give Large Amount of Cash?

Answered by: 

Can the bank decline to provide cash to a customer (when the amount exceeds $100,000 in one transaction)? I was always under the impression that the bank can decline any transaction if it puts the bank or it's customers at risk. Can you provide support (whitepaper or otherwise) for your opinion. This is not a "run" on the bank just one customer wanting a large quantity of cash for their own personal reasons.

I've not seen any rule that allows you to refuse the customer, their money. Savings accounts contractually allow you to require a request seven days in advance. Some deposit agreements specify advance notice for large withdrawals regardless of the account type or that only $X will actually be cash, the remainder in a cashier's check or wire.

Large withdrawal requests are not unheard of. In most cases these customers understand you need time to have the cash available, especially if the request is made at a small branch.

Many discussions have been in the threads on this. Generally it is accepted that you should do what you can to ensure this isn't a scam. Have counsel prepare some type of hold harmless so that the bank isn't responsible for this person walking out with all the cash. Remember your CTR. And you may want your own security guard to escort the customer until they're off your property to reduce your liability in the event of a robbery.

First published on 3/26/12

First published on 03/26/2012

Filed under: 
Filed under security as: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics