$100k in Cash, What Do I Do?

Lscooboo on 17/02/2020 - 10:13
Last edited 17/02/2020 - 13:39

I am currently having ~$100k in Cash that was brought to me from overseas. I want to put them into my bank, but the delivery man advised me otherwise, saying the bank would question and verify the origin of my money. I want no-hassle, should I be worried about what he said?

Update: The money is mine, I used third-party service to deliver them to me as they charged me much lower fee than the bank.
All sorted. Went to the bank, put the whole sum in, they asked for the origin, I gave them the document that I withdrew the money from my oversea bank and the receipt of third-party service engagement. Signed and done.

Financial

Comments

  • ChillBro on 17/02/2020 - 10:14
    +14

    All on black

    • MontyMacaw on 18/02/2020 - 10:54

      That’s a mugs game - Zero is where the money is!

  • Hugh Arse on 17/02/2020 - 10:15
    +5

    Launder it like everyone else - through the pokies

  • Oz8argain on 17/02/2020 - 10:21

    do you have to pay some sort of tax if you bring large amount of money from overseas?

    • djones145 on 17/02/2020 - 10:22
      +4

      I guess the delivery man placed it in their boggie board and got it through customs

    • Zachary on 18/02/2020 - 09:52

      yes, i had to pay tax on a refund that came from overseas.

  • djones145 on 17/02/2020 - 10:21
    +1

    buy a high yield merc

  • dinglejerry on 17/02/2020 - 10:22
    +1

    lol

  • 87percent on 17/02/2020 - 10:24

    "delivery man"?

    is the case handcuffed to him?

    • ego22 on 17/02/2020 - 12:08

      handcuffed to his lower intestine

  • Nalar on 17/02/2020 - 10:26
    +9

    This doesn't seem suspicious at all.

  • holoz0r on 17/02/2020 - 10:27
    +5

    Nice try austrac

  • dust on 17/02/2020 - 10:29
    +4

    Can OzBargain forum posts be used as evidence in court?

  • GG57 on 17/02/2020 - 10:31

    You don't have to worry if it is legitimate.
    The financial institution is required to report transactions over $10k. so you just need to be prepared to provide them with the appropriate info.

  • sw00p on 17/02/2020 - 10:32
    +1

    The best kind of troll posts are the ones that aren't so obvious. Try again.

  • wiipantz on 17/02/2020 - 10:32
    +1

    Suss AF! Just do it in like 10 or so intervals less than 10k ;)

  • cocomelon on 17/02/2020 - 10:33
    +2

    itunes card?

  • Hithere on 17/02/2020 - 10:33

    Can OzBargain forum posts be used as evidence in court

    Only if they are believable and not pure BS like this one is.

  • TheBilly on 17/02/2020 - 10:36

    Believe it or not they don't care, apparently 100k is not a lot of money in this day and age, from experience I can say just call the bank branch the day before you come to deposit because if you just rock up they will get angry at you and potentially tell you to come back another day and re book with them, branches are becoming ever more cashless and they like to plan for things like this. I rocked up 45 minutes before close on a weekend for a large deposit and they gave me lip service to the point it was embarrassing and I am certain to not make that mistake again.

  • mreddie on 17/02/2020 - 10:37

    Name checks out

  • 87percent on 17/02/2020 - 10:52

    op should be a nice person and give it to the other guy with the $50k debt..

  • [Deactivated] on 17/02/2020 - 11:00

    Bitcoin - ether

  • Ocker on 17/02/2020 - 11:43
    +1

    Over $10,000 and the deposit taking institution is required (READ "MUST") to report the transaction to AUSTRAC so be prepared to be able to quantify where the funds came from. (I don't think in a brown paper bag from a delivery man will cut it)

  • Porker on 17/02/2020 - 11:44

    Delivery man = person that smuggled the money into the country without declaring it at Australian Customs?

    I don't see depositing money as a problem - if it's AUD and not illegal, then the banks unlikely to care. If you fear that the deposit amount will attract issue, then I would've thought a plainly simple solution would be to deposit lesser amount (eg. $10k) at a time.

    If the money is illegal in any way, then that's a different story.

  • Ryanek on 17/02/2020 - 11:52

    Suggest you notify AUSTRAC or you have a chance of being audited by the ATO.

  • Numlock on 17/02/2020 - 12:06
    +3

    Ask one of the Asians in Burwood, Eastwood, Central, Rhodes Darling Harbour, Hurstville how they deal with large sums of cash.
    LIke no joke, they buy anything with large sums of cash.

  • elgrande on 17/02/2020 - 12:11

    Lol at delivery man

  • sfk10 on 17/02/2020 - 12:15

    Keep it in an aldi bag.

  • psdillon on 17/02/2020 - 12:30
    +1

    Surely your delivery man has a network of small businesses who would clean it for 15-20%.

  • Debuting on 17/02/2020 - 13:24

    Huh, how did they get your 100k cash to Australia?

    Usually with these transactions there is someone locally who goes and does the deposits into your bank account using an ATM.

  • Zachary on 18/02/2020 - 09:54

    just keep the cash, though do put preventive measures incase you get thieves coming into ur house or wherever ur storing it.

  • OzHunterNSW on 18/02/2020 - 11:34
    -1

    Sounds rather suss and should be investigated.
    They're is a limit to how much you can bring into the country.
    I just hope Customes are reading your post

  • Numlock on 18/02/2020 - 22:27
    +2

    Nice try Xi Jing Ping.

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