Cash payment limit in the US and Canada ?
 

So here in Europe this is totally ridiculous...
in Spain for any payment in cash, the limit is 2,500?
If it's higher, then you MUST send the money through bank wire or cheque.

I was wondering if there are any limit in cash payment in the USA and Canada ?
Can i buy a car in cash ?

This is just out of curiosity

Haven't heard of it here in Canada. heard of people paying for homes with cash.

In the US if a single transaction is over $10k then it usually has to be reported to the feds but there is not a limit on the amount of a transaction that I am aware of.

https://www.irs.gov/Businesses/Small...Dealership-QAs

.

No limit in Canada, although I think large cash transactions are reported to the government by some business.

All cash transactions over $10K must be reported to FinCen under the US Treasurie's AML regs.

Suspicious cash transactions under $10K are reported with the discretion of the recipient.

The exception would be known customers making cash deposit to a bank for their business e.g.; daily cash receipts. Sales tax (like VAT) is declared on these monies so they are not ''under the table'' cash payments, money laundering (cough cough) or terrorism funding -- those are the intents of these laws.

No, I cannot walk into the Porche dealer with a bag of cash and drive out in a new Porche under the radar in the USA :1orglaugh

Here in Europe the only limit for cash is the size of your suitcase.

Did it myself and not just once.

You have to report 10k and over , or the banks are obliged to, if you deposit that much !:2 cents:

In Canada you can buy and sell anything in any amount in cash. If you deposit more than $10k at a time, the bank reports it to the gov'.

dude IT'S CASH! Who fucking cares! You're worried about washing a few grand? You need to have your brain examined!

The F B I is outside your door right now! QUICK BURN THE 10K!

asshole!

That isn't true. at least not without reporting it. Anything over 10k

Large Cash Transactions

Cash (in paper form) isn't going to be around for much longer...

What if you don't have any CCs or bank accounts?

Sounds like discrimination.

I examined your mother last night

YES, there is a limit in Canada 10K, anything over gets reported to FINTRAC :2 cents:

Europe is ending the 500 Euro bills in December 31, 2018...

yeah I swear cash flow is the damn most annoying thing in business, making the money is easy but they have such fucked up regulations and forms and limits etc.......that it makes it nearly impossible to run a legit business.

$10k AUD is the limit in Australia too. Anything beyond that gets reported to the govt.

Once saw a guy depositing $9999 at the bank...

You can spend as much cash as you want in USA. It's YOUR job to declare where it came from when you have it. It's safer to have it in the bank...

My friend got pulled over with 50K cash and they kept it cause he had an illegal mexican chick with him.

The Swiss will still have large bills.

it´s because of the laundering, especially here in Spain :2 cents:

nope - the same thing what happend in spain (already since 5 or 6 years) will be adapted from all other european countries in the next 2 or 3 years.

the plan is to get rid of 80% cash payments til 2022 - in norway i.e it is already like that and over 80% of payments are electronic payments there.