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:



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