Depositing Cash While Traveling

Bluest

Well-Known Member
#1
I have heard a lot of APs talk about how to manage their cash when traveling: some put it in a safe in the vehicle, some fly with it strapped to their bodies, etc. When it comes to transporting your winnings, if they are sizable... would you consider depositing to a bank account via ATM? If not, why not? I certainly understand that if over 10k it gets reported to the government, but if you're claiming this money, that's not a problem. You have a right to win money. Is it mostly because people prefer to be creative in the income they declare for tax purposes? I would feel nervous strapping 70k to my body, and certainly wouldn't want to leave it in a suitcase or just drive around with it for very long. Anyway, thanks in advance for sharing any thoughts on this issue.
 

21forme

Well-Known Member
#2
CTRs are nothing to be concerned about if you declare your gambling winnings and pay your taxes. I would not deposit cash through an ATM. I would only use a bank teller so everything is counted and documented in front of you.

Be aware that banks outside Vegas are not used to dealing in a lot of cash and if you make frequent cash deposit/withdrawals, your bank may back you off. Chase is notorious for this. If you plan to do frequent cash deposit/withdrawls, you will probably need to open a commercial account and discuss it with the bank manager before opening the account.
 

Bluest

Well-Known Member
#3
Okay, commercial account, that's a great idea. As long as you're declaring, I think it's essentially a business anyway. You make a good point about a live bank teller.
 

KewlJ

Well-Known Member
#4
21forme said:
CTRs are nothing to be concerned about if you declare your gambling winnings and pay your taxes. I would not deposit cash through an ATM. I would only use a bank teller so everything is counted and documented in front of you.

Be aware that banks outside Vegas are not used to dealing in a lot of cash and if you make frequent cash deposit/withdrawals, your bank may back you off. Chase is notorious for this. If you plan to do frequent cash deposit/withdrawls, you will probably need to open a commercial account and discuss it with the bank manager before opening the account.
My situation is different from many professional blackjack players because I don't travel nearly as much, nor play high stakes, so I don't need to have 50 or 100k on me, traveling through airports and such. At my stakes, I only need about 20k for a trip. That is only about twice my daily bankroll. I have arranged higher ATM with drawl limits at my banks that can allow me to get upwards of 5k from ATM's if I need a minor replenishment and for a more major replenishment, I have an account at BofA, and there is always a branch somewhat nearby or on the way to where I am playing. So essentially, I let the bank "move" my money.

In Vegas it is not uncommon to go into a bank and withdraw 20 grand. But I have heard in other locations, even withdrawing a relatively small amount like 10k or 20k, you have to call a day ahead. I don't know. I have never had a problem walking into a branch and withdrawing 10k on a trip. Can't say I have done it a lot, but never had a problem.
 

MJGolf

Well-Known Member
#5
KewlJ said:
I have an account at BofA, and there is always a branch somewhat nearby or on the way to where I am playing. So essentially, I let the bank "move" my money.

In Vegas it is not uncommon to go into a bank and withdraw 20 grand. But I have heard in other locations, even withdrawing a relatively small amount like 10k or 20k, you have to call a day ahead. I don't know. I have never had a problem walking into a branch and withdrawing 10k on a trip. Can't say I have done it a lot, but never had a problem.
I agree with KJ about BOA as there are lots of locations in Vegas and main cities. However, some smaller towns, where there are casinos (mainly Indian ones) do NOT have a BOA. Chase is HORRIBLE. It's depositing that is an issue there. Almost ANY cash deposit requires identification and some record (not a CTR) by them even if it's YOU making a deposit with your OWN money into your OWN account. Pisses me the hell off.
 

Bluest

Well-Known Member
#7
It's just crazy to me, that people have to worry about how to deposit their own money. Well, another thing, how about wrapping it carefully in paper and cloth, and mailing it home? Like to your wife, or girlfriend, or mom. Or even just to your home.
 

Bluest

Well-Known Member
#9
A lot of people send money Fed Ex. I mean, drug dealers and bookies mostly... but people do it. One time a client sent me 800 bucks cash, next day delivery, had to sign for it. It happens. You don't think Fed Ex would be safe enough? Obviously you would disguise it.
 

MrFatCat

Well-Known Member
#10
Kinda surprised nobody else mentioned this -- TSA is the main fear I'd have with $10K+ on me while travelling, they can seize more or less despite your innocence, and you have to prove your innocence to get it back (and wouldn't you know, they miscounted when bringing it in, so you get less back than you lost originally).

And absolutely do not mail cash. Not only is it likely to be stolen by the USPS/FedEx/UPS, but if you mail enough, it'll look even more like you're committing a crime and get seized by the USPIS or FBI.
 

Bluest

Well-Known Member
#11
Possibly, however, I wouldn't mail a package bulging with the shape of 10k bundles, marked Cash! Do not steal! Surely people send cash disguised in other papers, books, etc, and with the millions of packages flying back and forth daily, it probably goes under the radar.
 
Top