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.
That’s an immediate “close the account” and go to a different bank.
Every bank in Canada has to ask these questions when you're withdrawing cash over a certain amount. It's a federal regulation.
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.