If you are flying with a large sum of cash, or other currency like traveller’s checks, money orders, and bearer bonds, you should check the legalities and custom regulations for the country you are traveling to.
Most countries rely on the traveler to declare any currency exceeding 10,000 USD, EUR, GBP or the equivalent.
Rules and restrictions on traveling with money will vary by country around the world. Be sure to check those laws and regulations before you fly, and if necessary make alternative plans before you fly.
Canadian Law on traveling with large amount of money
In Canada, the limit is 10,000 CAD which is roughly 7500 USD. However, this is not to say that you are not allowed to travel with more cash than this.
There are no laws limiting the amount of cash that you can travel with through the airports. So even if you have 20,000 USD, you are still allowed to take it with you as long as you declare it.
Declaring money when traveling within United States
If you are on a domestic flight in the United States, then there is no limit as to how much cash or monetary values that you can carry. Once again, if you are in doubt, speak to the TSA before your travels.
Once at the airport, the TSA (Transport Security Administration) may ask a passenger who is carrying a lot of cash to account for the money. If the TSA suspects that the money is related to some kind of criminal activity such as drug trafficking or money laundering, they may turn the issue over to a law enforcement agency (TSA has no law enforcement powers).
UK Law on declaring large sums of money at the airport
If you are planning on traveling from the UK to outside of the EU, then you must once again, declare €10,000 or more to customs. You are allowed to take this amount without notifying customs to countries within the EU.
All cash varieties will be included in this, such as, notes, coins, bankers’ drafts and cheques of any kind.
Also, remember, that if you are traveling as a family your funds can still not exceed to more than €10,000,
If you must carry a large amount of money with you, then it is advised that you never put your cash, financial instruments, or precious metals in a checked bag. You also have to be prepared to declare the source of your funds and the reason for carrying the cash to custom officers.
If you’re carrying more than 10k currency then keep it in sight (carry-on bag) and if your carry-on baggage must be searched, insist on keeping your bag in sight, whilst it is being checked.
If asked about the amount of money in your baggage by a TSA agent or other responsible authority, always tell the truth.
If you suspect that you have been a victim of theft, contact an airport police officer or other law enforcement representative immediately (remember that TSA agents are not law enforcement agents)
When in doubt, always declare or ask an officer at the airport.