I made a large deposit ($14,000.00) in cash for my employer. The bank called me today asking for my social security number, drivers license, date of birth, etc. It is not my money. I just deposited it. I feel uncomfortable giving this information. They have the company's tax ID number. Is it necessary to have this information on me?
Federal regulations require that the bank report the transaction because it exceeded $10,000 cash. Part of the information the bank must include in the report is identification of the individual conducting the transaction, that would be you. If the bank's teller had been on the ball at the time of the deposit, he or she would have asked for the information before completing the deposit processing.
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Federal regulations require that the bank report the transaction because it exceeded $10,000 cash. Part of the information the bank must include in the report is identification of the individual conducting the transaction, that would be you. If the bank's teller had been on the ball at the time of the deposit, he or she would have asked for the information before completing the deposit processing.
