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Home >> Accounts >> Checking Accounts
Withdrawing $30,000
I have 30K sitting in a checking account right now. How would I take that out so as not to have any problems? Can the bank refuse to release my money for any reason? Should I take cash, or a cashier's check? If I close the account and take the money, will the bank notify anyone? Is taking the money on an American Express Debit card an idea?
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 If you wish to withdraw your funds, visit the bank and complete the necessary withdrawal form. Under most circumstances, you should not run into any problems. Of course, if you are involved in any legal cases involving unpaid obligations, and the bank has received garnishment orders or an attachment on your funds, that would affect the amount the bank could allow you to withdraw. If the funds were deposited to your account by check and the bank placed a hold on the deposit, your access would be restricted until the hold is released.
Read an article on our website describing "What Your Bank REALLY Tells the IRS". It may answere some of your questions about the form in which you take the funds.
If your bank sells prepaid debit cards (such as those offered by American Express and others), you may be able to take some or all of your funds in that form. Talk to the bank about availability and its policies or restrictions on dollar amounts for such purchases.
Published on BankingQuestions.com 11/18/10
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