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A comment on Fed announces details of new interbank service to support instant payments. Parent comment

Re:Fed announces details of new interbank service to support... by megiddo on Monday August 10, 2020 @11:25AM (#24110285)
The $10K limit is a federal regulatory requirement. You have to fill out paperwork and provide identification that is turned over to law enforcement for review.
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Re:Fed announces details of new interbank service to support... by jandrese on Monday August 10, 2020 @02:05PM (#24112173)
As an added note: Don't try to get around this by breaking the transaction up into two $5k payments. That's also against the law.
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Re:Fed announces details of new interbank service to support... by megiddo on Tuesday August 11, 2020 @02:25PM (#24123857)
It's called structuring!
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