Depositing a large sum of money by check?
Filed in Bank Scholarships on Oct.12, 2011
Issue by Desperate: Depositing a big sum of money by check out?
Can I deposit a scholarship verify at Lender of The usa for $ 2000. This is free income that does not need to have to essentially go to training but it will, just not now. Will the financial institution need anything at all special to do this?
Many thanks
Very best answer:
Solution by ♥Chastons Wifey♥
Indeed, you can deposit that. There are no requirements required.
Know greater? Leave your individual response in the feedback!
October 12th, 2011 at 5:06 am
If you have an account there, you can deposit anything you wish into it. The bank is only going to care if you make a habit of regularly depositing huge amounts of cash. Otherwise, they don’t even notice what you do.
In the real world, one $ 2000 check really isn’t all that much money, even though it might seem so to you now.
October 12th, 2011 at 5:34 am
You can deposit up to $ 10,000.00. After that your bank would have to file a Currency Tracking Report (CTR for short).
October 12th, 2011 at 6:17 am
$ 2000 is no big deal. You can deposit up to $ 9000 cash without any red flags. If you go over that then you must let the bank know where it came from. BS huh? It’s your money, what does it matter how you got it. Thats the goverment for you, always wanting their cut for doing absolutely nothing.
October 12th, 2011 at 6:30 am
NOPE!! just deposit it. Nothing required. Good to hear that it will go to education, even if it’s not at this moment.
October 12th, 2011 at 6:37 am
Yes, you can deposit it into your account. The bank will require nothing special to do this; just a deposit slip and if you don’t have one, they will even make you one.
Imback_missme is half right. Only CASH transactions over $ 10,000 are reported to the IRS via a CTR.