News for hackers. Stuff that matters.

A comment on EU-wide maximum limit of €10K for cash payments. Parent comment

Re:EU-wide maximum limit of €10K for cash payments by reachableceo on Saturday December 10, 2022 @05:15PM (#33937486)
From the atm or the teller ?

ATM limit of 1k is common.

My small local credit union keeps about 10k in each of the tellers drawers . So you should be able to easily go up to 50k cash withdrawal .

If it’s a large multinational , 100k I suspect.

Also why not just go 10 days in a row and pull out 1k?

[ Parent | on HN ]
Re:EU-wide maximum limit of €10K for cash payments by rmasters on Saturday December 10, 2022 @05:32PM (#33937669)
> Also why not just go 10 days in a row and pull out 1k?

In the US, this could be considered "structuring" to avoid reporting requirements which is a federal crime with a sentence of up to 5 years in prison.

[ Parent | on HN ]
Re:EU-wide maximum limit of €10K for cash payments by wcoenen on Saturday December 10, 2022 @05:51PM (#33937885)
If the reason to pull out 1K/day is a 1K/day limit imposed by the bank, then the reason is obviously not to avoid reporting requirements and therefore it cannot be considered structuring.
[ Parent | on HN ]
Re:EU-wide maximum limit of €10K for cash payments by akimball on Saturday December 10, 2022 @11:13PM (#33940003)
And yet people are prosecuted.
[ Parent | on HN ]
Re:EU-wide maximum limit of €10K for cash payments by humanistbot on Saturday December 10, 2022 @11:59PM (#33940265)
[citation needed]
[ Parent | on HN ]