|
 |
Home >> Checks/Money Orders >> Money Orders
Deposits of Money Orders
If I deposit $6,000 in one bank, and the same day I deposit another $6,000 in a different bank, will this deposit be reported to the goverment? Is a depositof money orders of more than $10,000 reported to the government?
What is the rule and regulation of buying money orders? Assuming that a deposited money order is not reported to the government, what if I want to deposit $12,000, but I converted the cash to money orders by buying two for $6000 each? How will this deposit work? I am just curious about this matter.
|
|
 Your curiosity could get you into trouble, if you deliberately arrange transactions in order to avoid reporting requirements that cover transactions in currency of more than $10,000, and we will not advise you. Please read a brochure provided by the U.S. Treasury Department's Financial Crimes Enforcement Center (FinCEN). You can link to it here.
Published on BankingQuestions.com 4/02/09
|
| |
|
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
