Currency Limitations

3 sounds good but you could also get that money into savings fund or an none bank card that will charge higher commission

>>1026441

You could just keep it and use it for buying any shit you need in person.

>>1026441
Autism.........not even once.

>>1026448

I have sufficient funds to do that already. I need to save this money for the future and by storing it away physically, it will help me achieve that goal.

It is my understanding that carrying anything over AUD $10,000 is considered suspicious. If I were to organise, in advance, with my local bank branches to convert in $5,000 increments, do you think there would be an issue? Anyone have experience with this stuff before?

>>1026452
well obviously never deposit more than 2k unless your'e a retard
something like 10k will have you with an interview before deposit

>>1026454

Thank you. That is the kind of advice I need. I could have been arrested if I took in the whole thing at once, see?

Do you have experience in this area? Why can't I take in more than 2K? If I did this operation in 2K increments, it would take a while.

>>1026456
http://www.austrac.gov.au/threshold-transaction-reports-ttrs#structuring

TTR requirements apply for transactions 10,000 and over

>>1026465

Very helpful. Thank you. I will have to read this to get a better understanding of what it talks about, but what I gather is, to avoid bureaucracy, I should keep to $2,000 conversions.

Keep it under $9000, no problems. Also why do you want to put it in a bank? You will have to declare it for tax and centrlink reasons if you do (if it's deposited in a bank account in your name)

>>1026473
And the A TO can and might audit any savings you have in interest bearing accounts and investments if you don't declare them on your tax return or income assessments

>>1026473

Re-read my original message, buddy. For those very reasons, I do not want it in a bank. I am only taking it to a branch in order to convert the miscellaneous notes into 200 $100 notes.

Don't take 5K into a local branch you autist, they'll report you to the tax office.

Take $500, and do it week after week at different branches until you're done.

Holding cash, while tax-free, isn't a good investment. Even what you're paying tax on interest, at least you are gaining interest. Keep 50% of the cash, and spend the rest on a off-the-books investment that the tax man doesn't know about.

Think of something that you think will go up in price in the future. Even something as mundane as unopened Nintendo 64 games, New Old Stock car parts, physical gold/silver, etc etc.

>>1026441
Honestly if there is no rush i would just do it at 1000 at a time maybe once a week over a few months until you get through the full 20k. that way no questions come up and if they do its easily dismissed, just say you're buying something used and want all 100 bills for the transactions (something stupid like a used gaming pc or used 60" tv or something off CL)

once its all converted just convert as you save instead of sitting on a bunch of cash until it becomes an unmanageable amount like you did this time.

>>1026477

$500 per week for 20K? How many unique bank branches do you think I have access to?

>>1026478

I would do that, but how is it even possible? I have to use bank branches for the bank I am with. There are only two locally. They will obviously notice me coming in 10 times per branch throughout the next few months.

>>1026494
>There are only two locally

would of been useful info in your OP m8. It was a stupid choice to sit on that much cash in the first place man. either take it slow with the conversions and just deal with the fact that you have different bills, its really not that big of deal to have a bunch of 50s instead of a bunch of 100s unless you're legit autistic.

>>1026476
Yeah sorry .I realised after i posted.
Have you thought about buying a $20000 piece of art or antique or jewellery? Even easier to carry and store.

>>1026441
Batch them together in small $100 bundles, write $100 on a post-it and keep them together with a paperclip.

You're welcome.

>>1026504

I regularly sell rare film collectables on eBay and that stuff takes years to sell for the price I want it. Converting the money to a solid through the purchase of an item I don't want and probably couldn't sell would not be a smart financial move (but, then again, getting arrested with $20,000 of unexplained cash isn't, either).

>>1026510

Find a material good that has a deep market then. Have a look at sold listings on ebay.

Remember, if you sell on ebay the ATO can still come after you for earnings.

>>1026514

Really? eBay transactions are processed separately, via PayPal predominately. The ATO have no record of my purchases there and I would never declare them. I don't see how they would know. I'm not running an organised business.

>>1026478

I feel that this is good advice. So, what is the consensus with the amounts I can take in?

The responses in this thread have ranged from 9K to $500. I'm thinking $2500 per conversion. Thoughts?

>>1026520
I would leave the house with 4k, hit each of your 2 banks for 2k and do this once every week on different days of the week and different times so there is a minimal chance of getting the same clerk. if you're really worried wait 2 weeks in between exchanges

>>1026520
The smaller the safer really. $1k to $2k amounts. Have you thought about going to buy forex, then when you sell it again to AUD you could ask the forex counter for highest denomination.
Not sure what their reporting requirements are but I had no problems doing $1k USD or 30k PLN to AUD last year

>>1026536
>>1026531

Thank you for the feedback. My only obstacle is if I am required to actually notify the bank in advance, via a recorded telephone line. If I keep doing this, it will make me very suspicious. Surely they should have $2000 worth of $100 notes on site?

>>1026540
I don't see any reason why a bank wouldn't if the teller your at says she doesn't have 100s ask for a manager or ask her to check with the other clerks. the bills will be there.