How Much Can I Deposit Per Day at a Bank?

Banks and other financial institutions implement various deposit limits and monitoring practices. These measures enhance security, prevent fraud, and meet regulatory requirements, protecting both customers and the broader financial system. Knowing these guidelines helps individuals manage deposits effectively and avoid unexpected issues.

Bank-Specific Deposit Limits

Financial institutions establish their own internal limits on deposits, which vary based on the type of deposit and the customer’s account history. These limits are primarily in place to manage operational risks, prevent fraud, and ensure the efficient processing of funds. Customers should always verify their specific account limits directly with their bank.

When depositing cash or checks at an Automated Teller Machine (ATM), daily maximums often apply. Some ATMs may limit the number of bills accepted per transaction, such as 40 bills. Daily cash deposit limits at ATMs can range from lower thresholds to $10,000 or even $20,000, depending on the specific institution’s policies.

Mobile deposit limits also vary widely and are typically set on a daily, weekly, or monthly basis. These limits can depend on account type, the customer’s relationship with the bank, or their deposit history. Daily mobile deposit limits commonly range from $500 to $2,500, though some banks may allow higher amounts for established accounts.

For deposits made directly with a teller at a branch, banks generally do not impose strict cash deposit limits. However, for exceptionally large amounts, some banks may have internal thresholds that could trigger additional questions or require manager approval. Financial institutions often encourage customers to contact them directly for precise figures, as these limits are not standardized across the industry.

Government Deposit Reporting Requirements

Beyond bank-specific limits, federal regulations mandate reporting for large cash transactions to combat financial crimes. The Bank Secrecy Act (BSA) requires financial institutions to maintain records and report certain transactions to government agencies, helping to detect and prevent money laundering and terrorist financing.

A key requirement under the BSA is filing Currency Transaction Reports (CTRs), FinCEN Form 104. Financial institutions must file a CTR for any cash transaction, including deposits, withdrawals, exchanges, or other payments, that exceeds $10,000 in a single business day. This requirement applies exclusively to physical cash transactions; deposits via checks, wire transfers, or electronic means are not subject to CTR filing.

The financial institution is responsible for filing the CTR, not the customer. This reporting is a routine regulatory compliance measure and does not imply wrongdoing. The CTR includes details about the individual, account, transaction type, and cash amount, aiding financial investigations.

CTR requirements include aggregation rules. Multiple cash transactions by or on behalf of the same person within a single business day must be aggregated. If the total exceeds $10,000, a CTR must be filed. For example, two cash deposits of $6,000 each made by the same person at the same bank on the same day would trigger a CTR, as the total is $12,000.

Deposit Monitoring and Compliance

Financial institutions maintain Anti-Money Laundering (AML) programs to detect illicit financial activities. These programs go beyond the $10,000 CTR threshold, identifying and preventing suspicious transactions to safeguard the financial system.

Banks must file Suspicious Activity Reports (SARs) with the Financial Crimes Enforcement Network (FinCEN) if they suspect unusual or suspicious activity, even if the transaction amount is below the CTR threshold. SARs may be filed for transactions involving $5,000 or more where a suspect can be identified, or $25,000 or more regardless of a suspect. For money services businesses, the threshold for reporting suspicious activity can be as low as $2,000.

One activity triggering a SAR is “structuring,” the illegal practice of breaking up cash deposits or withdrawals into smaller amounts to evade the $10,000 CTR reporting threshold. This involves making several deposits over days or using different accounts to avoid detection. Structuring is a federal crime, leading to penalties including fines and imprisonment.

Banks may also make “Source of Funds” inquiries about large or unusual deposits as part of their “Know Your Customer” (KYC) obligations. These inquiries aim to understand the origin of the money and mitigate risks. Customers might be asked to provide documentation for legitimate sources, such as property sales, inheritance, gifts, business income, or salary. Providing requested documentation helps facilitate these inquiries and maintain a smooth banking relationship.