What/where is the safest place to keep several thousand dollars;?
Maybe to get a little interest. Mainly; where I can get it in my position if I need it within a short??
- 1 decade agoFavorite Answer
Depends on how much a "several" thousand dollars is. The Bank Secrecy Act requires banks to report cash transactions that exceed $10,000 to the IRS. As long as the money was obtained by legal means, you have no problems. You're right on the "little interest". The average interest rate on a savings account (less than $10,000) is 1.05% or less.
- 1 decade ago