Is it true that in the US their is a withdraw limit of $5000 per month for personal accounts . (Cash Flow Business Banking)

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missywillow

Is it true that in the US their is a withdraw limit of $5000 per month for personal accounts .

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In Money and Finance > Cash Flow
In Money and Finance > Business Banking

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dlyons

Hi Missy,

There's no 'limit' to personal withdrawals in any state in the US that I am aware of. Your bank may have restrictions on cash withdrawals. Some don't carry large amounts of cash and may need to place an order to get it.

There is a federal reporting requirement that banks must report cash transactions of certain amounts, for both IRS and Homeland Security purposes. That amount (fed) used to be $10,000.00, went to $5000.00 and I heard someplace it is now $3000.00.

That just means that the bank files a report. I'd guess that if you were involved in illegal trade, that might be a reason for concern.

The bottom line is to ask your bank.

Answered: Oct 26, 2009