Personal Finance

Sticky REquest : IS it okay to make a large deposit? All your deposit questions here!

  • Last Updated:
  • Feb 10th, 2018 8:06 pm
[OP]
Deal Expert
User avatar
Jan 27, 2004
43417 posts
6658 upvotes
T.O. Lotto Captain

Sticky REquest : IS it okay to make a large deposit? All your deposit questions here!

FAQ

Q : My mom gave me $2500 . . . If I deposit it in my bank account will I get in trouble?
A : No.

Q : My mom gave me $30,000 . . . If i deposit it in my bank account, will I get in trouble?
A : No. All transactions over $10,000 get reported to fintrac. It does not mean your accounts will get frozen or you will go to jail or anything like that. IF they're giving it to you to help buy a car, or down payment etc etc... IT is fine.

Any other questions?
2 replies
Deal Expert
User avatar
Dec 11, 2005
19192 posts
1687 upvotes
Does this really need to be a sticky.... ?
To be nobody but yourself - in a world which is doing its best, night and day, to make you everybody else - means to fight the hardest battle which any human being can fight; and never stop fighting. -- E. E. Cummings
Deal Expert
User avatar
Aug 18, 2005
19584 posts
4188 upvotes
Burlington-Hamilton
You should add versions of these questions for the following situations:
- Under the table employment or contracting income
- People on OSAP or other student loans
- People on other social assistance
- People who pay child support and may be behind
- Casual Gastronomist -

Top