[slowandeasy]

Hello everyone

My family just came from the bank where we took grandpa to get a cashiers check
Since my sisters bank does not charge for cashiers checks we took him there OK I am trying to make a long story short grandpa had saved over 2000.00 in cash and was now ready to put a double marker on granny's grave so he had the check made out to the memorial place any way after it was done the teller asked him for a picture id and said if any one comes in with cash over a thousand dollars they are required to inform the gov. Is this true? Or did he not understand? {he is 84} If any one can explain this I would appreciate

[ScottGem]

Hmmm I thought it was $10K. Any cash transaction of $10K or more requires ID and reporting to the IRS.

[topladyj]

Okay scottgem is right about the 10,000 they have to file out a ctr (curency transaction report) and send it to the government.
I also do money transfers and in my state of Oklahoma they just passed a law to where if you send money over 1,000 then they have to get your drivers license number and social security number from you. We do not turn it in but moneygram keeps a record of it as well as we do. Basically to watch out for people money laundering.
So with this said this is all I can think is that your state law has required them to get the number. Hope this has helped.

[IllinoisChip]

Yes indeed . The Patriot Act stiffened the requirements and banks to report "suspicoius" transactions, which can include cashier's checks over $1K. It's intended to fight money laundering and financing of terrorism.