Cash payment limit in the US and Canada ?

**Spunky** · 03-08-2016, 06:20 AM

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

**sarettah** · 03-08-2016, 06:51 AM

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

.

**shake** · 03-08-2016, 06:52 AM

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

**Barry-xlovecam** · 03-08-2016, 06:58 AM

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

**just a punk** · 03-08-2016, 07:33 AM

Originally posted by jezz87

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

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

Originally posted by Spunky

heard of people paying for homes with cash.

Did it myself and not just once.

**JFK** · 03-08-2016, 07:42 AM

Originally posted by shake

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

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

**2MuchMark** · 03-08-2016, 07:56 AM

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'.

**MetaMan** · 03-08-2016, 08:00 AM

Originally posted by jezz87

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

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!

**PR_Glen** · 03-08-2016, 08:09 AM

Originally posted by shake

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

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

Large Cash Transactions

**RummyBoy** · 03-08-2016, 08:21 AM

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

**Google Expert** · 03-08-2016, 08:27 AM

Originally posted by jezz87

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

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

Sounds like discrimination.

**jezz87** · 04-07-2017, 07:10 AM

Originally posted by MetaMan

You need to have your brain examined!
asshole!

I examined your mother last night

**JFK** · 04-07-2017, 07:36 AM

Originally posted by shake

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

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

**Look Chang** · 04-07-2017, 07:46 AM

Originally posted by RummyBoy

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

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

Cash payment limit in the US and Canada ?

Cash payment limit in the US and Canada ?

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