No it isn't. Over $10,000 the bank generates a CTR (currency transaction report) and sends it to FinCEN. You don't have to explain anything to any teller or anyone else. Their computer system does this automatically without the customer's involvement.
it's the same in the USA. not sure what the limit is though.
No it isn't. Over $10,000 the bank generates a CTR (currency transaction report) and sends it to FinCEN. You don't have to explain anything to any teller or anyone else. Their computer system does this automatically without the customer's involvement.