Does depositing a large amount of money freeze the account? | Ask Banky

Editor-in-Chief Mohamed Salah

ع

Editor-in-Chief Mohamed Salah

Does depositing a large amount of money freeze the account?

Asked by Banky team 2 months ago
Banky team Reviewed editorial answer

A large sum of money doesn't automatically mean your account will be closed.

Key points

  • The bank may request an explanation and documentation of the source of funds if the transaction seems inconsistent with your account.

  • Provide the true source of funds instead of splitting the deposit or trying to hide it.

Source

Discussion

Join the discussion

Sign in to add your comment or reply to other readers.