i want to go deposit some wedding money - will the bank give me a problem if it is a very large amount all at once?
***********just called the bank and they said it is fine lol
GiannisWifey
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Re: deposit at the bank question
I think you can only deposit up to a certain amount at a time - I think 5k? if its checks, its not a problem, but actual cash, I think you will have to divide it up - we had to do this for our eparty and also I remember from my sisters wedding
Isn't this only if 1 gift is $10K or more? Not if the total of all of the checks is $10K.
RitasEngaged
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Re: deposit at the bank question
it is a check from one of my accounts and from DH's - everything between cash and checks have been deposited - its just moving the money to one account
FutureMrsSoltan
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Re: deposit at the bank question
Posted by RitasEngaged
it is a check from one of my accounts and from DH's - everything between cash and checks have been deposited - its just moving the money to one account
i dont think its a probably when your tranfering. Your just moving from one account to another.
it is a check from one of my accounts and from DH's - everything between cash and checks have been deposited - its just moving the money to one account
i dont think its a probably when your tranfering. Your just moving from one account to another.
but its different banks
GiannisWifey
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Re: deposit at the bank question
I don't think if you are transfering from one bank to another it matters.....
lets say you have personal at Commerce and you wrote out a check against it to your Chase account, its fine. You are just depositing money into your other account. Fh does it all the time for business into 2 totally diff banks and he doesn't run into any problems. When they see the cash, thats when flags go up.
kerber981
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Re: deposit at the bank question
Noooooooo don't divide it up. It's actually against the law. It will appear as if you're trying to hide something. If it's over 10k they'll fill out a questionnaire./form but there are NO issues with that. It's just standard protocol. fyi...I'm a bank auditor.
MrsCM
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Re: deposit at the bank question
I deposited everything at once
RitasEngaged
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Re: deposit at the bank question
Posted by MrsCM
I deposited everything at once
but was it all seperate checks?
RitasEngaged
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Re: deposit at the bank question
Posted by GiannisWifey
I don't think if you are transfering from one bank to another it matters.....
lets say you have personal at Commerce and you wrote out a check against it to your Chase account, its fine. You are just depositing money into your other account. Fh does it all the time for business into 2 totally diff banks and he doesn't run into any problems. When they see the cash, thats when flags go up.
ok so lets say i write a check from my capital one account for $4K
DH writes me a check for $20k from TD Bank
and i deposit it to my state bank account that would be fine?
i just dont want to get taxed on it
MrsCM
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Re: deposit at the bank question
Posted by RitasEngaged
Posted by MrsCM
I deposited everything at once
but was it all seperate checks?
It was easily 40 checks
GiannisWifey
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Re: deposit at the bank question
Ok i really have no idea how to answer - I just claled my bank and the girls like no you can deposit anythign you want at once.......I said what about 10k and over? oh wait I don't know.....then she comes back and says you can make any deposit necessary at one time, regardless how many checks or how much cash. I would just call your bank or accountant and ask, its prob the safest bet
RitasEngaged
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Re: deposit at the bank question
Posted by GiannisWifey
Ok i really have no idea how to answer - I just claled my bank and the girls like no you can deposit anythign you want at once.......I said what about 10k and over? oh wait I don't know.....then she comes back and says you can make any deposit necessary at one time, regardless how many checks or how much cash. I would just call your bank or accountant and ask, its prob the safest bet
ok thanks
FutureCap
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Re: deposit at the bank question
banks only care if you are taking out alot at once... they will take as much as you want to deposit
kerber981
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Re: deposit at the bank question - update
You can do ANYTHING you want/need on your account as far as deposits and withdrawals go (except for limits on ATM cards).
The 10k reporting is not something who anyone that is not doing something wrong should worry about.
All of this stuff that's being talked about (splitting it up, keeping it under 10k, etc) is unnecessary (and in fact is considered evading CTR reporting which is illegal).
If you make multiple deposits in a day that equal over 10k you're still subject to CTR.
eta: It's actually 10,000.01 and over not inclusive of 10,000 even.
Also, bank's don't care the size of your withdrawal either. It's your money and you can take it out. If it's a large sum they sometimes ask you to call ahead so that they can take it from the vault but that's convenience only - not a requirement.
