Is having too many cash deposits a problem? | Ask Banky

Editor-in-Chief Mohamed Salah

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Editor-in-Chief Mohamed Salah

Is having too many cash deposits a problem?

Asked by Banky team 2 months ago 1 views
Banky team Reviewed editorial answer

Cash deposits themselves aren't a problem, but frequent or large deposits that don't match your account type or income might prompt the bank to ask about the source of the funds.

If you have a regular cash income or business activity, be sure to provide proper documentation and avoid using a personal account for business transactions that contradict the account's purpose.

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