Gifting cash to someone is one of the most convenient methods that many people follow. This is mainly because you can send some money and leave the buying to the receiver’s discretion. In this way, money can either be used to save up to buy something in the future or buy something they need now. Therefore, during the holiday season or birthdays, people prefer to send cash through banks. However, others also prefer sending in holiday cards just as the conventional method.
Along with these cards, people prefer to send in cash as a holiday or birthday gift. However, before sending in, one needs to know about the different rules of sending cash as mentioned by the federal ministry.
Can You Send Cash in the Mail?
Yes, you can send cash in the mail because US Postal Services do not prohibit sending cash in the mail. However, sending money via postal service is unsafe because somebody can open an envelope and take money. Additionally, it is illegal to send cash in the mail for money laundering and tax evasion.
We have gathered that sending money for holidays and birthdays is permissible, but you may be held under scrutiny for sending money. Many people get involved in fraudulent activities, such as gambling, which is not permissible by the federal ministry. Therefore, one needs to be ready for scrutiny if they are sending cash through the postal service. You must, however, remember that as long as money is sent for non-fraudulent activities, you are legally entitled to send it.
Is it illegal to send cash in the mail?
No, it is not illegal to send cash in the mail. However, it is illegal and forbidden to send cash in the mail for money laundering, chain letters, multilevel marketing, and tax evasion.
If, for instance, you are involved in dishonest practices such as any fraudulent activity such as gambling, you may be prosecuted under the state law, and it can hold dire consequences for your career and personal life. In addition, you must be careful if you are sending money through postal mail and be required to answer for any scrutiny that may be imposed upon you. Finally, it is straightforward to fall into traps set by different scammers, so make sure you have a careful eye and a knack for identifying them. In other words, be wary of the consequences.
Some of the consequences involved include the prosecution by federal law. The law is made for the fraud scammers who are interested in such groups. There are also different reactions given to the scams based on which state you are residing in. There can be a significant punishment, or the police may let you go depending on how big a scam you have committed. In addition, you must understand that your record can also rely on it, so it is essential to ensure that you are freed from such issues.
Different mailing companies in the country must also check and report any misguided factors that are reciprocal scams. This is an essential step in part of the transparency and accountability guidelines of the mailing companies. Failure to meet the requirements will also bring the companies in a bad light. Therefore, the state also entrusts the companies to report any offense occurring during the postal services.
Is it illegal to send cash in the mail internationally?
It is forbidden to send cash in the mail internationally in most countries. If you decide to mail cash internationally using international FedEx and other international post service companies will refuse to take packages or envelopes with cash. However, if your courier company accepts money, you can not be stopped to send money less than $10.000 internationally.
What happens in the case of lottery tickets and chains letters?
Sending in the mail chain letters and lottery tickets is illegal. A chain mail is a scheme where people are promised or roped into winning cash awards and checks only if they promise or are willing to forward the scheme to, let’s say, ten other people. In this way, the chain mail continues. However, many people fall victim to it without an actual awarding of the cash prize to the recipient. This is also a scam and is discouraged from making people aware that it is not the proper form of activity to be involved in. If a person sends a chain mail through the postal service or sends in lottery tickets, they are likely to face similar consequences as mentioned above. They may be prosecuted under state law and are likely to face dire consequences affecting their career and personal life. Many states, however, allow for the lottery tickets to be forwarded, so it depends on the location of where you are living.
Conclusion
You must understand that sending money through postal services is never illegal, and you can easily avail of this service if you are sending money for holidays or as a gift. Yes, you may be required to provide additional documents such as your identity card, the information of the sender, and that of the receiver, but if you do so, it only clears the air up. Therefore, you should provide additional documents so that you face no hindrance later on. Furthermore, suppose you are accused of having different activities such as mailing money for scams or other schemes such as chain mails. In that case, you are likely to be prosecuted under state law, and it may have dire consequences. Therefore, be wary and understand when and how to send money while being aware of the laws.
After leaving Wells Fargo Bank in 2014, Daniel began a career as a finance consultant, advising companies and individuals on economic policy, labor relations, and financial management.
At Promtfinance.com, Daniel writes about personal finance topics, value estimation, budgeting strategies, retirement planning, and portfolio diversification.
Read more on Daniel Smith's biography page.
Contact Daniel: daniel@promtfinance.com