The scenario is: you’ve managed to receive ₩500,000,000 (~$337,265) at a Korean lottery (the catch is, only given in cash) which is delivered to you in two duffel bags. However will there be issues when returning back to the USA with that amount of money since it’s bundles of cash via foreign currency when the cap is $10,000 for undeclared amounts?
No you won’t.
They would have paperwork from the lottery provider.
A US bank with foreign offices would handle this fine.
It’s only 300k, which might be a lot for you and I, but in bank terms, it’s like $3…
Source: worked at a top 3 bank
Maybe in your country
Over here you need to establish residency first
You misunderstand.
If you have an account at citi, JPMC, etc. they have branches in other countries that will allow you to do banking with the local branch, including things like currency exchange, travelers checks, etc.
The entity you are interacting with is still Citi NA or JPMC NA, but they can service your requests in other countries.