Can you deposit a check over 10000?

0 votes
asked Oct 29, 2020 in Other-Finance by playlist4443 (910 points)
Can you deposit a check over 10000?

1 Answer

0 votes
answered Oct 29, 2020 by Salmorejo (41,600 points)
Yes you can deposit a check in your bank account for over $10,000.00

There's no limit to the amount of cash or checks you can deposit into your bank account as long as the checks or cash was legally obtained.

However when you do deposit checks of $10,000.00 or more then the bank has to legally report that amount of deposit to the IRS.

If someone wrote you a 1 million dollar check per week or month then you could deposit that check into the bank account as long as it's a good legal check.

Many millionaires get huge deposits of money into their bank accounts weekly and monthly.

The banks don't limit the amount of money you can deposit and in fact they encourage more deposits as the more money that is deposited the more interest the bank makes so they make more money by keeping your money into a savings account or other bank account.

101,241 questions

96,983 answers

1,288 comments

7,002,113 users

...