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Law for having a certain amount of cash?
I read an article in the news today about people being arrested for having $90,000 in cash on them. I am just curious what the exact amount you are allowed to have on you is? I know if you have this large of an amount in cash, you are not doing anything good with it (haha just buying a new BMW! No big deal! With cash..) But say hypothetically you had this much money legally and wanted, for some reason, to keep it in cash, what is the legal limit? I live in Vancouver, BC but if you know the law for your province or state, I would be curious to know that too. Someone told me that after $10,000 the police will investigate it, but I was wondering if there is a specific legal limit, assuming the cash is legally obtained and to be used for legal things. Thanks!
PS. I don't actually have this much money that I want to keep in cash, just curious :)
Great answers guys! Thanks, I was just curious. I commented on the original article asking about this and got a bunch of uneducated, insulting answers (lots of people said it was a stupid question and that it is completely illegal, which does not seem to be the case). Good to know that some people are actually helpful and not just rude. I would assume Canada's laws are similar to the US regarding this. Either way, carrying around 90 grand is pretty stupid! Legal, but suspicious and stupid.
5 Answers
- HayleyLv 71 decade agoFavorite Answer
Yeah, there's no legal limit in the US. But people with more than that on them are probably looking to hide it from A. the IRS, or B. Customs Enforcement.
That's why, when you leave/enter the country, you must declare if you have more than ten grand on you so that it can be noted. You probably need a good reason why you're carrying that much cash on you instead of say, a check or cashier's cheque, which would be more secure, harder to defraud the government with, etc.
Who would want to be carrying that much cash? You're just a big target for would be robbers.
- Falmaata TLv 41 decade ago
It is legal to carry any amount of cash, but quite imprudent to do so. The money would be suspected illegal and seized and then you have to hire a lawyer to fight for its return.
It is illegal to cross the borders of the US with more than $10,000.
In the United States I did not find law that states how much money you can carry. I guess the answer would be as much as you would be comfortable losing should you be robbed! Always be careful when carrying a large amount of money not to make it obvious that you are doing so! Better to carry a debit card than risk personal injury or even death by unscrupulous characters.
- ?Lv 71 decade ago
In the U.S. there is no legal limit, it's just that police are directed to assume anyone with $10,000 in cash is probably committing a crime. Also, if you have just under $10,000 they assume you're deliberately trying to avoid scrutiny because you're probably committing a crime. You just can't make this stuff up.
- BLLv 51 decade ago
Te police will take any amount of money you have. They can use the excuse you were going to buy drugs with as little as $300. If the confiscate the money, it is up to you to prove where it came from and what you were doing with it. Welcome to America.
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- Anonymous5 years ago
Finders keepers, I say!
