Regardless of your business type and industry, it is safe to say that handling and transporting cash and sensitive documents is important. A business that is running with a high level of cash flow such as retail stores and restaurants have a higher need for locking money bags. You cannot simply put your large amounts of cash in a paper envelope as you can end being a victim of theft. Here are some ideas on how to carry large amounts of cash safely.
A businessman, employee or salesperson that needs to frequently carry cash in their hands while traveling across different locations must be mindful of these tips.
Alternate the time and days when you need to deposit cash to deter being tailed.
Be inconspicuous. Avoid carrying a briefcase for cash. Rather disguise cash in a money bag with lock.
Visit different locations at different timings to ensure that your traveling pattern is not easily recognizable or detected.
Avoid giving wages to your employees in public.
Avoid traveling to the bank on a registered company vehicle. Traveling anonymously with unnoticeable locking security bags is recommended.
Get insured.
Where to Hide Your Cash When Traveling?
Whether you are going to the bank to deposit cash or on your way to conduct a substantial cash transaction, utmost care must be taken to ensure safety. This experience can be nerve-wracking as you try not to be identified as someone carrying large amounts of cash. you can misplace the money accidentally in a mix-up of other hold items.
Learning how to carry large amounts of cash safely will help to keep you relaxed and confident. But where exactly can you hide your cash?
Wear a Money Belt
A money belt is as a protective accessory that is worn under the clothes. You can use it to carry large amount of cash discreetly. Other type of money belts can wrap around the waist or around the thighs. The major benefit of a money belt is a pickpocket can’t access the cash kept in the belt. The disadvantage is the same. You yourself cannot access your cash easily. A zipper money belt can be replaced with a money bag with combination lock. You get easy to your cash in public yet away from the crooks. A money bag with combination will look conspicuous though.
You can store cash in clothes with secret pockets. There are special clothing articles that come with hidden compartments typically sealable with a zipper or Velcro. The pocket is placed hidden at a location not easily accessible to pickpockets. There are whole ranges of travel clothes available with secret pockets especially for travels gear. Secret pockets are good for hiding a small sum but it is not ideal for carrying larger amounts.
Carry a Dummy Wallet
This is more of a misdirection tactic. Carry a conspicuous dummy wallet while your wallet with actual cash remains hidden. It would be just a second wallet carrying a little amount of cash in it. The advantage of having a dummy wallet is that you can hand it over in case you get mugged. The mugger would think he made off with your wallet to his dismay. To make your dummy wallet strategy effective, your actual wallet should be hidden in an inconspicuous place. To make your dummy wallet like a real one, put in some fake or expired credit cards and receipts.
Divvy Up Your Cash
Try to avoid carrying all your cash in one bag or pocket. When going out to pay large amounts of cash, you can divide your cash into several batches. You can hide the cash in different locations. Put some of the cash in a wallet, a backpack, a money bag with lock, or a shoulder bag. Sure it’s inconvenient, but if you really want to keep the cash safe, this will be effective.
Disguise with Stationary and Documents
Another great idea for carrying a large amount of cash in public is to disguise the cash. You can place the cash in a document bag or any big bag that would allow you to conceal the cash with books or stacks of documents.
Carry an Anti-Theft bag
One thing that garbage bags commercial have taught us is some things are tougher than others. Anti-theft bags are built to be durable and cut-proof. An anti-theft bag or a durable money bag with lock will slow down and even deter crooks and pickpockets.
Conclusion
There are plenty of options for safe transport of cash. Being inconspicuous might be the best option but that isn’t always an option. Should you need to transfer large amount of cash that makes inconspicuous difficult, you can opt to use a locking money bag or a locking bank bag.
I always lock the zipper of my small cross-over bag with a simple open-close key clip. It's an extremely simple measure, but it will make it more difficult to quickly unzip your bag and steal your wallet. I especially felt safer in crowded streets, busses etc. Simple clip to keep your money safe.
You may bring into or take out of the country, including by mail, as much money as you wish. However, if it is more than $10,000, you will need to report it to CBP. Use the online Fincen 105 currency reporting site or ask a CBP officer for the paper copy of the Currency Reporting Form (FinCen 105).
Where to safely keep cash at home. Just like any other piece of paper, cash can get lost, wet or burned. Consider buying a fireproof and waterproof safe for your home. It's also useful for storing other valuables in your home such as jewelry and important personal documents.
In addition to keeping funds in a bank account, you should also keep between $100 and $300 cash in your wallet and about $1,000 in a safe at home for unexpected expenses. Everything starts with your budget. If you don't budget correctly, you don't know how much you need to keep in your bank account.
It's legal to travel with more than $10,000 in the United States and abroad. You have the right to travel with as much money as you want. However, during international travel, you need to report currency and monetary instruments in excess of $10,000.
Conceal it – Use money belts, hidden wallet compartments, or discreet bags to avoid broadcasting you are carrying valuables. Vary storage – Divide cash into envelopes, bags or pockets throughout your luggage/clothing.
Even though it is technically not illegal to travel with large amounts of cash, it is definitely suspicious to many law enforcement officers. Carrying a large amount of cash can result in asset forfeiture and seizure, even if you are not arrested for an offense. Welcome to the world of asset forfeiture.
Having large amounts of cash is not illegal, but it can easily lead to trouble. Law enforcement officers can seize the cash and try to keep it by filing a forfeiture action, claiming that the cash is proceeds of illegal activity. And criminal charges for the federal crime of “structuring” are becoming more common.
Although TSA can't take your money, they might call a law enforcement officer to seize it for civil asset forfeiture. So, how much cash can you fly with? You can fly with any amount of cash. No law prohibits you from bringing any amount of money on a flight.
You shouldn't place cash in your checked luggage. This is because your bags are out of your sight and a lot more people have access to them. They also go missing much more often so it is safer to keep in your hand luggage where you can control its location and track its whereabouts much more easily.
case you are worried about having to remove your belt at airport security checks, there are money belts that are specifically designed to pass through airport screening without setting off metal detectors - these belts which are known as "Beep Free Money Belts" and they are completely made without any metal that would ...
YOU ARE ALLOWED TO CARRY AS MUCH CASH AS YOU WANT OUT OF AND INTO THE UNITED STATES. To summarize up front: no, you are not restricted to traveling with sums of $10,000 or less. In fact, you could travel with a checked bag stuffed to the brim with cash — as long as you declare the amount beforehand.
However, if the value of the money exceeds $10,000 USD, passengers must declare the amount they are carrying at customs and fill out all required forms and documentation. This applies to individual travellers, group travellers and business travellers.
In addition to keeping funds in a bank account, you should also keep between $100 and $300 cash in your wallet and about $1,000 in a safe at home for unexpected expenses. Everything starts with your budget. If you don't budget correctly, you don't know how much you need to keep in your bank account.
Introduction: My name is Allyn Kozey, I am a outstanding, colorful, adventurous, encouraging, zealous, tender, helpful person who loves writing and wants to share my knowledge and understanding with you.
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