Question: How Much Cash Can I Deposit In My Bank Account?

Asked By: Matthew Wright Date: created: Jan 07 2021

How much cash can you deposit in a bank at one time

Answered By: Andrew King Date: created: Jan 10 2021

Last week, the government announced a new rule to prevent people from depositing large amounts of cash in their bank without mentioning the PAN. Till then, you could deposit up to Rs 50,000 in cash per transaction without giving the PAN.

Asked By: Richard James Date: created: Jun 25 2021

How much cash can you deposit before it is reported to the IRS

Answered By: Gilbert Allen Date: created: Jun 28 2021

When do banks report deposits to IRS? Banks and credit unions are required to report a cash deposit of $10,000 or larger. In addition, if two transactions within a 12-month period seem related and their total exceeds $10,000 they must be reported.

Asked By: Kyle Turner Date: created: Nov 28 2020

How much money can be deposited in a savings account

Answered By: Curtis Gonzales Date: created: Nov 29 2020

In regular savings account, 4 free cash deposits are allowed per month. On 5th deposit, Rs 150 per transaction plus taxes will be levied. Here customer should note that, deposits of up to Rs 2 lakh is free per account per month in home branches.

Asked By: Sean Rodriguez Date: created: Feb 05 2022

Is it OK to deposit large amounts of cash

Answered By: Tyler Robinson Date: created: Feb 07 2022

There is nothing inherently illegal about depositing large amounts of cash, and law enforcement has better things to do than investigate large one-time deposits. (Breaking the deposit into multiple smaller deposits to avoid the report is illegal, even if the money is legit.)

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