# $10,000 cash limit out of date



## hermes (Jun 5, 2011)

Does anyone have experience filling out the currency form and leaving Canada with more than 10K? Any hassles or is it straightforward? I can prove legal source of funds but I am concerned that whoever investigates such things won't be able to call my bank as it will be after hours.


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## I'm Howard (Oct 13, 2010)

ATM, why carry cash when it can so easily be transferred??


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## marina628 (Dec 14, 2010)

Maybe to Avoid some taxes?Or buy in to a high stakes poker game?I go to Vegas once a year with more than 10k and never have any issues.But that is vegas


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## MoreMiles (Apr 20, 2011)

marina628 said:


> Maybe to Avoid some taxes?Or buy in to a high stakes poker game?I go to Vegas once a year with more than 10k and never have any issues.But that is vegas


If you don't declare it and get caught, your money would be confiscated.
You will need to prove your money is "clean"... it's like "guilty until proven innocent" type of mentality.

You need to fill a form in advance for transporting over $10,000 cash equivalent.


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## marina628 (Dec 14, 2010)

I am playing in the WSOP this year and going to Vegas for an extended stay. I will be spliting $25000+ with my husband to carry with us and we give a written request to our bank for a large cash withdraw and have our bank manager give us a written letter of receipt for the withdraw .And I declare the money and last year they did not even ask to count it .As stated my experience is only with Vegas .and have done it every year for a few years now ,they may pass judgement on us as we are leaving but that is extent of my issue.


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## yyzvoyageur (Apr 10, 2009)

hermes said:


> Does anyone have experience filling out the currency form and leaving Canada with more than 10K? Any hassles or is it straightforward? I can prove legal source of funds but I am concerned that whoever investigates such things won't be able to call my bank as it will be after hours.


It's straightforward.

I'm not the guy who investigates such things (that's FINTRAC), but I am one of the guys responsible for making sure those forms get completed. My advice can be boiled down to these points:

1. Ensure you declare when arriving in Canada as well as before departing if you're carrying more than CAD 10 000.00 or equivalent. If departing at an airport, you can declare the money at the local CBSA office. If you're leaving for the USA, you are supposed to report to CBSA prior to reporting to US authorities at the preclearance facility (you're reporting twice). Upon arriving at an airport in Canada, you simply mark the appropriate question "yes" on the declaration form.

2. It's a straightforward process generally. No one at the airport will be calling your bank. I suppose FINTRAC may when they get the form, but that's beyond my job description.

3. Yes, it's best to carry some documentation indicating where the funds came from even if that's just a bank withdrawal slip, but if nothing seems out of the ordinary I doubt you'll be asked to prove anything.

4. Bear in mind that the law encompasses "monetary instruments" as well as cash.

5. The 10 000 limit includes all currency you're carrying, which is to say if you decide to carry a bundle of hundred dollar notes amounting to CAD 9900.00 in an attempt to avoid declaring the money, that's fine, but be sure to add up your pocket change and the other bills in your wallet (Canadian or foreign currency). Your currency could be subject to seizure if you're not careful.


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## OhGreatGuru (May 24, 2009)

I'm Howard said:


> ATM, why carry cash when it can so easily be transferred??


If you read some other threads you will see that there are some parts of the world where it is not so easy to transfer money electronically. There are other ways of transferring money to most parts of the world, but some may be slow and have fees.

However, travelling with $10K cash is certainly unusual. I was unaware of the limit, but am not surprised given the FINTRAC rules.


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## yyzvoyageur (Apr 10, 2009)

OhGreatGuru said:


> However, travelling with $10K cash is certainly unusual. I was unaware of the limit, but am not surprised given the FINTRAC rules.


It's actually not very unusual. For example, it's very common with many Chinese people. Just to be clear, there is no limit on the amount of currency one can travel with. One can travel internationally with $5 million in cash quite legally, but it would have to be declared.


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## LondonHomes (Dec 29, 2010)

I don't think I have ever been asked that question at a land border, nor been required to fill out a question form either.

Be prepared with the proper paper work just in case you are. But I think that the method with the least hassle would be to just drive across and catch a flight on the US side.


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## yyzvoyageur (Apr 10, 2009)

LondonHomes said:


> I don't think I have ever been asked that question at a land border, nor been required to fill out a question form either.
> 
> Be prepared with the proper paper work just in case you are. But I think that the method with the least hassle would be to just drive across and catch a flight on the US side.


In a land border situation, the law still requires (on the Canadian side at least) that one report the currency even if a customs officer does not specifically ask the question. My educated guess is that the US law is similar in that regard.


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## bootsnixon (May 10, 2011)

I've only had to do it once, but it was no hassle. A couple of years ago, I was wanting to buy a vehicle from the states. I had one lined up from the internet but wanted to take cash ( instead of a money order/ bank draft) in case I did not like it and then I could still purchase a different one.
I filled out the form stating how much I had and when I went through customs, the agent asked what it was for and that was it. He did not ask to see it or anything else. No hassle at all, but perhaps I got lucky with a lazy customs agent.


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## I'm Howard (Oct 13, 2010)

I have a U.S Bank Account that we transfer money to over a period of six months or so, that is our walking about money.

I use a CC for most and pay with my T.D U.S Bank Account.

Prepay your CC then take cash advances.


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## smihaila (Apr 6, 2009)

Just out of curiosity - is gold bullion technically considered "money instruments"?
Also, is it detectable by metal dectors?

Another (a bit paranoid but when it's your money you'd better be) question:
What IF, by officially declaring what you're carrying would put a whole gear in motion that keeps thieves in the know etc (i.e. an insider from Government might advise someone)


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## dP21 (Apr 1, 2011)

I'm Howard said:


> I have a U.S Bank Account that we transfer money to over a period of six months or so, that is our walking about money.
> 
> I use a CC for most and pay with my T.D U.S Bank Account.
> 
> Prepay your CC then take cash advances.


Which CC are you using? The TD USD?

If so, by pre-paying do you forgo the interest paid on the cash advance?


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## Elbyron (Apr 3, 2009)

dP21 said:


> Which CC are you using? The TD USD?
> If so, by pre-paying do you forgo the interest paid on the cash advance?


I recently got a TD USD Visa card, but I was told that it couldn't be used in any ATM (local or foreign), and I was never asked to set up a pin for it. So unless I was misled, I think the question of whether pre-paying this card will avoid cash advance interest is rather moot.


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