The amount of cash you can deposit in a bank depends on the bank's policies and the country's regulations. Generally, in the US, there is no specific limit on how much cash you can deposit, but deposits of $10,000 or more must be reported to the IRS. Some banks may impose their own limits for cash deposits at ATMs or branches. For example, some banks limit ATM deposits to a few thousand dollars per transaction or day. In the UK, some banks have introduced annual or daily cash deposit limits to combat money laundering. For instance, Barclays has a £20,000 annual limit on cash deposits for personal accounts, Santander and NatWest also have limits, such as £3,000 per day and £24,000 in a rolling 12-month period. Therefore, the cash deposit limit can vary widely depending on the bank and country, ranging from no formal limit (subject to reporting large transactions) to specific daily or annual caps. Key points:
- US banks require reporting of deposits $10,000 or more but generally do not limit cash deposits.
- Some UK banks limit cash deposits to around £20,000 annually or £3,000 daily for personal accounts.
- ATM deposits might be limited by machine capacity (e.g., $1,000 to $20,000 per day).
- Business accounts often have different or no limits compared to personal accounts.
It is best to check the specific bank's policies and local regulations for exact limits and reporting requirements.
