How do you go about depositing such large amounts of money? I hate to be presumptious however we are having 320 ppl and expect to do well (not break even but get some bucks back). How much money can you deposit at once?
AngnShaun
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Re: Bank question related to depositing wedding gifts
at Chase i think the there is are spots for like 20 checks on the deposit slip
ETA: but you can depsoit everything together...
MrsC2010
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Re: Bank question related to depositing wedding gifts
i dont think there is a limit. however, they might not clear it all at once. So lets say you get 15 k back....maybe only 5 k will be available right away and the rest will take like a few days
brittndave
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Re: Bank question related to depositing wedding gifts
as much as you want!
eta: it won't clear for a couple days (all of it at least) and you might have to fill out more than one deposit slip, but they can't limit the amount you deposit
FallBride2010
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Re: Bank question related to depositing wedding gifts
I never thought there was a limit...you will just need to fill out a few deposit slips
KatieG2010
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Re: Bank question related to depositing wedding gifts
not a limit but i heard that you need some kidn of form or letter or some shyttt to deposit more then 10K at one time... i figured you girls would know. I leave for HM the monday after so i want to see if my parents can deposit the money without having an issue...
AngnShaun
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Re: Bank question related to depositing wedding gifts
Posted by KatieG2010
not a limit but i heard that you need some kidn of form or letter or some shyttt to deposit more then 10K at one time... i figured you girls would know. I leave for HM the monday after so i want to see if my parents can deposit the money without having an issue...
that might be for your bank.... i would call them and find out
GiannisWifey
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Re: Bank question related to depositing wedding gifts
I think it has to be done separate transactions...
I know for our eparty, we had to break it up into 2 different deposits on 2 different days
brittndave
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Re: Bank question related to depositing wedding gifts
Posted by KatieG2010
not a limit but i heard that you need some kidn of form or letter or some shyttt to deposit more then 10K at one time... i figured you girls would know. I leave for HM the monday after so i want to see if my parents can deposit the money without having an issue...
if you get more than 13k from one person they might need to write out a gift letter for the irs if they ask about it but just to deposit it you don't need anything.
halfbaked
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Re: Bank question related to depositing wedding gifts
Posted by KatieG2010
not a limit but i heard that you need some kidn of form or letter or some shyttt to deposit more then 10K at one time... i figured you girls would know. I leave for HM the monday after so i want to see if my parents can deposit the money without having an issue...
I think you are thinking of taxes on gifts over 10k, but that's only if it's more than $10k from one person. There shouldn't be any issues.
jm2010
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Re: Bank question related to depositing wedding gifts
i think banks have to report transactions over $10k (in or out of the acct) -- that might be what you're thinking of ... if you don't want it to trigger reporting, you might want to break up the deposits over a number of days ...
JayBee216
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Re: Bank question related to depositing wedding gifts
If you're depositing CASH of over $10K you will need to fill out a tax form.
GR2010
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Re: Bank question related to depositing wedding gifts
Posted by KatieG2010
not a limit but i heard that you need some kidn of form or letter or some shyttt to deposit more then 10K at one time... i figured you girls would know. I leave for HM the monday after so i want to see if my parents can deposit the money without having an issue...
I think this might be for cash deposits/withdrawals in the amount of 10k or more.
KatieG2010
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Re: Bank question related to depositing wedding gifts
frick that- ill just put it under the mattress
joctorre
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Re: Bank question related to depositing wedding gifts
Posted by KatieG2010
frick that- ill just put it under the mattress
NO!!! imagine all the interest you'd be missing out on.... and with rates these days, that could amount to around $4 over a few years!!!!!
Noelsgirl
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Re: Bank question related to depositing wedding gifts
Posted by KatieG2010
frick that- ill just put it under the mattress
I don't blame yah!! at least that way it won't be taxed!!!
