Is there a limit to how much cash one can deposit in their checking account?

Answer 1

You can deposit as much as you want, that's why it's called a bank, but the problem is where you got it from can you prove it it wall legally made!? anything over 10K in Unites STATES of America is IRS investigateble!

Answer 2

There is actually no limit to the amount of cash you can have in your account. but there are certain rules in India

1. If you deposit cash of > Rs. 49,999/- you need to provide your PAN number during the transaction

2. If you deposit cash of > 10 lacs you need to provide the source of income

if you are able to provide the above mentioned information you are free to have as much cash as you want in your account.

Answer 3

This would largely depend upon your bank, but theoretically no. However, in the US only the first $100,000 is protected by the FDIC per bank assuming your bank is covered, which the vast majority are.

Answer 4

There's not really a limit. In the US, banks are required to report transactions in "currency" of $10,000 or more to law enforcment (specifically, the Financial Crimes Enforcement Network) using a form called a CTR (Currency Transaction Report). However, there's nothing actually illegal about large transactions per se, they're just watched for evidence of suspicious activity.

Note that trying to deposit $10,000, being told that a CTR will be filed, and then pulling a dollar out of the pile to make it a deposit of $9,999 instead will definitely be regarded as suspicious activity.

Another thing that's regarded as "suspicious" is making deposits of, say, $8000 in multiple branches of a bank on the same day, or a repeated pattern of large-but-slightly-under-10k transactions on successive days.

Basically, if you have a legitimate need to make a large cash transaction, go ahead and do it, because trying to hide it looks a lot more like, well, like you've got something to hide.

Answer 5

50000 only but having pancards 50000 above

Answer 6

it depends on what the bank tells you, but usually the safest amount to deposit in a bank is around P250,00.