Withdrawing €100'000 in cash

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Out of Curiosity, if I had a cheque for €100'000 and I wanted to put it into my bank and then withdraw the full ammount in cash.
Would I be allowed?
Would there be a waiting period?
Would there be a load of questions?

yuloni

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Wireless net

Anders Brief Gnu wrote: »

Out of Curiosity, if I had a cheque for €100'000 and I wanted to put it into my bank and then withdraw the full ammount in cash.
Would I be allowed?
Would there be a waiting period?
Would there be a load of questions?

yes no problem, you just need to give adequate notice, some banks its a few days notice that is required, you will be asked obviously why you want that much.

longhalloween

Nobody really uses cash for large payments anymore and I'd say for bank security they can't have huge stacks off €100 notes lying around.

homer911

You can expect lots of questions about the purpose of the cash - only drug dealers work in that volume of cash these days

frozenfrozen

Can I be nosy and ask why you would need to withdraw 100,000 cash?

dlofnep

I don't imagine that they would have 100,000 at hand in the bank. You'd have to lodge it, wait for it to clear and then give them notice for a withdrawal. It might be a few days before they could have it ready.

mikemac1

The only people who use €500 notes are farmers and drug dealers

pegasus1

So what were the Greeks withdrawing in large amounts if it wasn't hard cash?

desertcircus

Bank staff can be held personally liable in terms of money laundering cases if they don't follow certain steps. For a hundred thousand quid, you'd be looking at an awful lot of questions, and the answers would almost certainly be passed onto the authorities.

jameshayes

i can only imagine the interrogation you would get - sure I was lodging 5k a while back and the questions i was asked were unreal!

Caliden

Is there anything illegal from withdrawing 100k (from the sale of land for example) and keeping it on your premises?

Marcusm

desertcircus wrote: »

Bank staff can be held personally liable in terms of money laundering cases if they don't follow certain steps. For a hundred thousand quid, you'd be looking at an awful lot of questions, and the answers would almost certainly be passed onto the authorities.

You'll only get lots of questions if they don't suspect you. If they have any suspiscions, they will avoid questioning you as that might tip you off. Will be very interesting to see how you get on.

Agent Smith

Tell them you want to swim in a baby pool of 5 euro notes.


you'll be asked a f load of questions, but theres no reason why you shouldnt be allowed.

They will have to order the Money tho for you

Turner

I presume they will ask you questions, but surely you are not obliged to say anything unless you wish to do so.

pegasus1

€100,000 all in u.s. dollars because I need to make a cash offer on a gold claim in Alaska..

Mollyd90

took out about 17k of a mortgage drawdown in cash a few years ago to pay workers on my house. I ordered it before hand, the cashier made a few comments but I didnt take any notice. always bought my cars with cash, took out 12k from credit union recently for one. credit union didnt bat an eyelid although was a bit shocked when I started counting it after her and was faster (I worked with in a cash office for a few years)

someone I know saved for years in the bank and wanted to withdraw it and told the cashier that he gave it to them in cash and thats the way he wanted it back, the bank made a big deal about that. cant remember how much it was.

KoolKid

I really don't get this lark from the banks about they don't have it & can't access it. Yet when there is a robbery or tiger kidnapping out goes the cash.

I was getting some building work done a couple of years ago.
In one instance I went in with a cheque for 10k. It was in the branch the cheque was drawn against. The manager was called & he explained he wouldn't have that in cash in the branch . In fairness he sent me to the next nearest branch & rang ahead to clear the cheque.
The second time I needed to withdraw 35k . That had to be ordered a day before. Its a great feeling not having to queue and the manager looking after you instead.

Capri

Gas the way banks go on over here - if you want €100,200,500 notes you have to order them.

WHY would you want them?

How about travelling overseas without the bulkiness of 100x€50 notes when you could have 10x€500 notes:cool:
- to places without ATM's where cash is king and they willingly change €500 notes without a 'third degree' grilling and 'consulting the manager' pettiness that goes on here.
One time I was going through Madrid, I happened to have about €100 in €5's in my trouser pocket and I was pulled aside by security who called over the Guardia Civil who just laughed at the security guard's 'panic':P

someone I know saved for years in the bank and wanted to withdraw it and told the cashier that he gave it to them in cash and thats the way he wanted it back, the bank made a big deal about that. cant remember how much it was

We only give OUR cash to the bank for safe keeping, they don't say when we're giving it to them ' We reserve the right not to give it back in the same way you gave it to us'

KoolKid

Those €500 notes are a laugh. Its easier to change a cheque.

wonski

When i lived in Netherland the local shops wouldn't even accept 50euro note for grocery. No shop would accept anything over 50.
Didn't stop my boss paying me at the end of the week in 100/200 notes. Couldn't spend any of it over the weekend...

Davidth88

Slightly OT.

I had to chaprone a Chinese lass who was doing some work for us , she had never been out of China before. The company had given her a cash advance of a couple of thousand Euro , all in 200 and 500 !!

i took one look at the cash and realised we had a problem , in the end the only way I could change them was by talking to the customer and he took he to his bank ( this was in The Netherlands ) and he got them changed .

GoodisonPark

I bought a car in the UK last year and gave my bank 3 days notice that I wanted £15k Stg in cash , when I went in to collect I was interrogated as to why I wanted that amount in cash !!

KoolKid

A bank manager told me before you are not obliged to answer any questions like this. It's your cash and you're entitled to withdraw it. If the bank have suspicions its up to them to contact the relevant authorities.

TopTec

The authorities are only interested in the source of the cash. If it comes from your own account and there are records of its lodging you dont need to explain to anyone why you are withdrawing.

When you pass it on then that person/company might need to explain where it came from.

TT

Anyone

Odds are a money laundering report will be made which goes to the Revenue and the Gardai. Its up to them to investigate it after that.

daveirl

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frozenfrozen

If you told them you wanted the money for coke and hookers would they be able to stop you from taking it out?

seamus

frozenfrozen wrote: »

If you told them you wanted the money for coke and hookers would they be able to stop you from taking it out?

No. Though they could report it to the Gardai.

To a certain extent you have to consider from their point of view that they may be deemed to have a certain amount of responsibility in handing over that kind of cash. Large cash sums aren't typical.

If a man with mental health issues walked in, withdrew €50,000 and then burned it in the street, his family would possibly have a case against the bank if the bank said that they hadn't asked any questions.

The purpose of the questions is really to check to see that you're not doing anything stupid and try to save you from yourself - "Some guy on the street is selling fine Italian leather jackers for just €500 a pop - 50% off - so I told him I'd take 100 and pay him in full up front".

I've taken out a chunk of cash to buy a car before. The BOI on Camden Street has a little private secure room where they count out the cash for you, so they're not handing out wads of cash in front of everyone. You get to skip the queue too.

If you ordered a huge amount, like €100k, they'd probably recommend that you bring in something substantial to carry the money in, like a briefcase. Two hundred €500 notes wouldn't really fit in an envelope.

frozenfrozen

seamus wrote: »

No. Though they could report it to the Gardai.

To a certain extent you have to consider from their point of view that they may be deemed to have a certain amount of responsibility in handing over that kind of cash. Large cash sums aren't typical.

If a man with mental health issues walked in, withdrew €50,000 and then burned it in the street, his family would possibly have a case against the bank if the bank said that they hadn't asked any questions.

The purpose of the questions is really to check to see that you're not doing anything stupid and try to save you from yourself - "Some guy on the street is selling fine Italian leather jackers for just €500 a pop - 50% off - so I told him I'd take 100 and pay him in full up front".

I've taken out a chunk of cash to buy a car before. The BOI on Camden Street has a little private secure room where they count out the cash for you, so they're not handing out wads of cash in front of everyone. You get to skip the queue too.

If you ordered a huge amount, like €100k, they'd probably recommend that you bring in something substantial to carry the money in, like a briefcase. Two hundred €500 notes wouldn't really fit in an envelope.

Do they still give out 500 euro notes? I read an article somewhere saying that the Irish ones were worth 900 euro since they were so rare now

wonski

frozenfrozen wrote: »

If you told them you wanted the money for coke and hookers would they be able to stop you from taking it out?

They will be more than happy to join the party...