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Under the new law, the maximum that may be deposited each year is what

Under the new law, the maximum that may be deposited each year is what
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Answer #1

CASH DEPOSITS:

There is no limit for Cash Deposit at Banks. However banks report deposits above $10,000 to IRS.

CHEQUE DEPOSITS:

a. Through ATM or Bank Teller

There is no limit.

b. Through Mobile Deposit Option

This option allows you to Deposit Cheque through Mobile App just by clicking the photo of cheque and uploading the same.

However different banks have put a limit on this option. Such limits are based on daily and monthly limits.

Daily Limits: Vary from $500 to $5000 per day

Monthly Limits: Vary from $1000 to $50,000 per month

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