In the US, it’s a “Currency Transaction Report”: https://www.fdic.gov/news/financial-institution-letters/2021...

The bank collects the information necessary to submit that form at the time of transaction.

You’re also required as an individual to file IRS Form 8300 if you accept >$10k in payment: https://www.irs.gov/businesses/small-businesses-self-employe...

Also not in the US, i am using the term IRS because people are very used to it on the internet.

Banks in the US and EU are legally required to report large transactions. I know for a fact that in Europe, that cash handeling over 10.000 euro gets reported.

That includes withdrawals and deposits. The later gets even more questions asked regarding the "origins" of the money.

There are other fun events that we have seen, like transferring 15.000 euro from my wife to her brother (between countries), that had the money blocked as the bank needed to investigate the origin of the money. So the bank starts calling you to figure out what the money is, what is it used for, where does it come from, bla bla bla...

Why are you giving 15.000 to your brother. Is it a GIFT!!! Translation: Can we TAX it! I suspect that banks in some EU countries get a cut from reported money that can be taxed by the tax office (that is just my speculation).

No, it was his money that he loaned to us for a house buying, and that we returned, but they really tried to push the "gift" narrative. Large money transfers (above 10k), triggers investigations.

And as you can guess, large cash deposits or withdraws get even more questions.

Here is a fun tip: Just transfer or deposited money in small amounts, whenever you feel like it. Avoids the questioning like your some kind of criminal.

So ironically, you perform actions like a criminal (will do to avoid detection), just to avoid getting questioned like your a criminal. Hahahaha...

I feel like we have no more privacy in our lives with everything being monitored and checked. Your browser spies on you, your OS spies on you (W11 Recall even worse), your smartphone, you get tracked by Wifi signal in the streets, your customer store card (that they push and push) is to track your buying habits, the banks track your every movement for the tax office, you can not even freaking sell stuff on ebay and get reported.

Like 3000 Euro is nothing. You sell a few piece of PC hardware and you hit that limit. And Amazon/Ebay/... report your behind. And now its about backdoors in encryption because you may be hiding something. What, you do not want to share your talks on XYZ platform to your wife, family. What are you saying, illegal stuff????

We are really moving to a dystopian world and have been for a long time.

> Here is a fun tip: Just transfer or deposited money in small amounts, whenever you feel like it. Avoids the questioning like your some kind of criminal.

Breaking up deposits into smaller amounts is a crime called structuring.

I wouldn't recommend doing this as an alternative to dealing with the reports and scrutiny on larger transactions.

Your bank will file a report with FinCEN that says that you withdrew (or deposited, or transferred, or whatever) the money. They can/will also separately report suspicious transactions, including patterns of transactions that seem designed to evade the reporting requirements.

What grocery store is cashing checks in the 7-10k range?

Not sure. Apparently walmart you can cash up to 7500 for half the year and 5000 other half for tax return purposes I guess. Still maybe you can get paid weekly instead of biweekly.