How much cash can I deposit?
How much cash can I deposit? Banks are required to report when customers deposit more than $10,000 in cash at once. A Currency Transaction Report must be filled out and sent to the IRS and FinCEN. The Bank Secrecy Act of 1970 dictates that banks keep records of deposits over $10,000 to help prevent financial crime.
What is the new law on cash deposits UK?
A government statement published today (18 August 2023) set the minimum expectations on banks to protect services for people and businesses wanting to withdraw or deposit cash. They can expect to withdraw cash without any fees – something that has been set out in law.