Will the bank teller ask you the source of cash?

[solarv]

Will the bank teller ask you the source of cash if you want to deposit lots of cash and coin?..wondering...

[gilboman]

no..but they will/need to report cash deposits in excess of like 10 or 15g to the gov't/police i think

[Arrow]

I believe only over a certain amount. I don't know the details any more specifically than that though.

[Avenger]

No, it is not their business.

[anandwww]

Will the bank teller ask you the source of cash if you want to deposit lots of cash and coin?..wondering...

i am not sure why they need to know. Anyway the security agencies might be getting info from financial institutions if there is something suspicious in your account

[gilboman]

No, it is not their business.

they are required by law if you deposit over a certain amount in cash to report it ;)

and it is their business if they dont want to be accused of money laundering ;)

[tlamm]

I deposited 7 grand last year, they asked the source. May depend on the bank/branch.

[Avenger]

they are required by law if you deposit over a certain amount in cash to report it ;)

and it is their business if they dont want to be accused of money laundering ;)
I never said they do not report it. Different banks have different reporting amounts. As for the deposit, they just flag it if it is over that amount, you do not need to tell them. If they find it suspicious after it is flagged, they will investigate then. You are not required, nor should you be asked for the source. I have deposited multiple thousands a few times over the last two years and never been asked. I have never done more than $8000 in one pop though.

[B40]

You have to report if over $10k due to money laundering laws.

[Kurtz7834]

You have to report if over $10k due to money laundering laws.

This correct, however, in the real world correct procedure is not always followed by bank staff. Chris Mathers is an ex undercover RCMP cop who dealt with money laundering and he describes filling in completely silly info on the source of funds sheet. His entertaining and enlightening book 'Crime School: Money Laundering' details this, I'd recommend it.

[Avenger]

Lol.. I love when people think they know something.

5 seconds later:

:lol:

Anyway.. I know in Nova Scotia, if you are buying a car and want to pay cash, if you are paying more than $5000, they are legally required to call the police and verify where the money has come from.

Try READING before bashing. The TELLER will not ask you. The deposit will be done and funds held, and a followup will be done by someone else AT A LATER TIME.

[B40]

This correct, however, in the real world correct procedure is not always followed by bank staff. Chris Mathers is an ex undercover RCMP cop who dealt with money laundering and he describes filling in completely silly info on the source of funds sheet. His entertaining and enlightening book 'Crime School: Money Laundering' details this, I'd recommend it.

Yes...you are right. You can say "won it at the casino", end of story.

[tlamm]

Try READING before bashing. The TELLER will not ask you. The deposit will be done and funds held, and a followup will be done by someone else AT A LATER TIME.


The Teller asked me. They also asked me 6 years ago when I deposited the monies we received from our wedding.

[steve.m]

crazy Bashers. gotta call ppl "kid". Be more polite like "I disagree..."

[D-Sisive]

i know over 5k , scotia bank asks

but the answer to the question is always casino

[Kurtz7834]

For anyone curious about this stuff, here's a link to Chris Mathers' book:

http://www.amazon.ca/exec/obidos/ASIN/1552635848/qid=1136503034/sr=1-1/ref=sr_1_0_1/702-6695409-4330410

There is a chapter called 'Getting money into banks' that is directly related to the questions in this thread.

It's short, fun read and you can probably find it at your local library.

[Avenger]

Maybe the employee I dealt with was not following procedure (scotia). I have made 1 $6000 and 1 $8000 deposit over the past 2 years. On the $8000 I had to fill out a form for source with it, and it indicated the funds would be released after a review of the source and follow up with me if needed, or something to that effect. The teller themself will not ask you, you either get a form, or there is no issue. With the form you just hand it in with the cash and you might get called back, or so I would assume, but I never heard back or had a problem with my second deposit.

[gilboman]

The teller themself will not ask you, you either get a form, or there is no issue. With the form you just hand it in with the cash and you might get called back, or so I would assume, but I never heard back or had a problem with my second deposit.

so the teller asks you to fill out a form for source of cash is different than them asking you :confused:

[Avenger]

Oh man, still trying to defend your statements! You crack me up kid!


The tellers ask you all kinds of crap, they do ME anyway. So it's absurd to say *NO* teller will *EVER* ask you where the huge amount of cash has come from :lol:
Whatever, go troll somewhere else, I am not going to argue with a condescending individual such as yourself, evidently it will get nowhere! I am going by my experiences and those of people I know, which from viewing this thread, seem to be inconsistent in results to say the least.

[Sajjad]

Why not just do small but significant amounts over time, sure you'll pay fees. But they won't be suspicious will they?

BTW, so what do you deal? ;)

[Avenger]

Why not just do small but significant amounts over time, sure you'll pay fees. But they won't be suspicious will they?

BTW, so what do you deal? ;)
I had withdrawn a couple grand to buy a car, and had some laying around from random things still. I ended up getting a really cheap car and did not need all the thousands. Maybe that is why there was no issue, as most of the deposit had been withdrawn a week or two prior.

[Kurtz7834]

Why not just do small but significant amounts over time, sure you'll pay fees. But they won't be suspicious will they?

BTW, so what do you deal? ;)

This is what real money launderers generally do, as Mathers described in the book I mentioned.

20 deposits of $500 generally attract way less attention than 1 deposit of $10,000. You can also get different people to deposit at different branches.

The book is so cool, it reminds me of Goodfellas, it teaches you to think like a criminal in the interest of avoiding being ripped off by criminals.

[solarv]

I have a fren brought $400 coins into the bank to get some paper notes...the bank teller asked him the source of coins....damn annoying...

[Avenger]

I have a fren brought $400 coins into the bank to get some paper notes...the bank teller asked him the source of coins....damn annoying...
If I take coins to any bank but the one I have an account with they refuse to do lots of coins, even my bank sometimes tries to get off by saying I need to use plastic wraps or some other technicality. Coins are a pain!

[gilboman]

I have a fren brought $400 coins into the bank to get some paper notes...the bank teller asked him the source of coins....damn annoying...

did he tell them he stole it from the salvation army donation spheres or knocked over a bunch of vending machines:lol:

[solarv]

did he tell them he stole it from the salvation army donation spheres or knocked over a bunch of vending machines:lol:

he is in the laundry business...not money laundry...