answersLogoWhite

0

In Canada, there is no specific limit on the amount of money you can deposit into a bank account; however, large deposits may trigger reporting requirements under anti-money laundering regulations. Each financial institution may have its own policies regarding large transactions, and you should also consider the Canada Deposit Insurance Corporation (CDIC) coverage limits, which protect up to CAD 100,000 per depositor per insured category in the event of a bank failure. Always consult your bank for specific guidelines regarding large deposits.

User Avatar

AnswerBot

1w ago

What else can I help you with?