What Happens When You Withdraw $10,000 or More From Your Bank Account? Here's the Truth in 2026

Planning to withdraw $10,000 or more in cash from your bank account? The government will find out about it.

But don't panic, unless you plan on doing something illegal.

Here's what really happens when you withdraw $10,000-plus in cash -- and why you probably shouldn't worry about it.

Why banks report large withdrawals

When you withdraw (or deposit) $10,000 or more in cash, your bank is generally required to file something called a Currency Transaction Report (CTR).

That report goes to the Financial Crimes Enforcement Network (FinCEN), which is part of the U.S. Treasury.

FinCEN uses these reports to spot money laundering and other crimes. CTRs have helped the government bust criminals for things like:

• Drug trafficking
• Organized theft
• Ponzi schemes
• Large-scale tax evasion

In most cases, though, these reports are routine, and you'll never hear a word about them.

Two things you should never do when withdrawing $10,000 or more in cash

There are a couple of ways to get yourself in trouble -- or at least cause yourself a headache -- when withdrawing $10,000-plus in cash.

1. Don't try to dodge CTRs

Splitting a large withdrawal into smaller ones in order to avoid CTRs is called "structuring," and it's illegal. Just withdraw as much cash as you need, when you need it.

2. Don't lie to your bank

When you make a large withdrawal, your bank may ask what it's for. You don't have to answer, but refusing to answer -- or giving a suspicious answer -- might raise red flags. Your bank can delay or even deny the withdrawal.

Long story short: If you're not doing anything wrong, then don't act like you are.

What you should do when withdrawing $10,000 or more

1. Call ahead

Your bank may not always have $10,000 on hand. It's best to call ahead and schedule a pickup; then the bank will have the funds ready for you.

Your bank may also let you choose the mix of bills, e.g., $8,000 in hundred-dollar bills and $2,000 in fifties.

2. Bring your photo ID

Your bank will need to see a valid photo ID before handing over your cash.

3. Be honest if asked what the money is for

You don't have to go into detail. A simple answer is enough. For example:

• "For home renovations"
• "For personal expenses"
• "To buy a car"
• "For travel"

4. Ask about safer alternatives to cash

There's some risk in carrying a lot of cash around. If you don't absolutely need physical cash, consider another option like:

• Cashier's check
• ACH transfer
• Wire transfer

5. Put the money to use ASAP

The less time that cash spends in your hands, the better. Cash can be lost, damaged, or stolen, and it earns no interest.

The safest place for your money is an FDIC-insured high-yield savings account. Your money is protected if the bank fails (up to $250,000 per person, per bank), and you'll earn interest.