How much cash can you deposit in a bank per month?

There’s technically no legal limit to how much cash you can deposit into a bank account in one month.

Why people think there is a limit

There are plenty of common myths about cash deposits, like: 

• Banks always flag deposits over $10,000 as illegal.

• Depositing cash too often gets you in trouble. 

• All large cash deposits are suspicious to banks.

What is a currency transaction report (CTR)? 

Banks are required to file a CTR with the Financial Crimes Enforcement Network (FinCEN) when a customer deposits more than $10,000, either all at once or in multiple deposits in a short period of time.

What counts toward the $10,000 threshold 

For CTR purposes, cash, cashier’s checks, traveler’s checks, and money orders all count toward the $10,000 threshold.

Important clarification

The $10,000 threshold generally applies per day, not per month or per deposit.

When a CTR is filed

A CTR is an automatic compliance form, but it’s not a red flag that triggers an IRS investigation on its own.

CTR vs. audit

While the CTR is a form filed by a bank about a transaction, a bank audit is a more complete review of a bank’s compliance with anti-money laundering (AML) programs. The IRS may also perform audits on individuals or businesses which could include a review of bank accounts, but a CTR filing doesn’t necessarily mean the IRS will audit your account.

What actually raises red flags: 

Unusual activity that differs significantly from your typical account pattern may prompt additional review by the bank. Red flags may also include multiple cash deposits totaling over $10,000, or someone who tries to cover up where the large deposits are coming from.

Structuring definition

Structuring refers to separating cash deposits of more than $10,000 into multiple, smaller deposits that are less than $10,000.

Examples of structuring

• Depositing amounts just under $10,000 repeatedly (like $9,900)

• Depositing cash at multiple bank branches to try to stay below the $10,000 threshold 

• Depositing $10,000 or more across various accounts to try to avoid reporting

Why structuring is illegal

Structuring is often an attempt to skirt or break AML laws, which is why it’s illegal. 

There is no “safe” amount

Banks are allowed to file reports on deposits below $10,000 if they think there might be suspicious activity.

Suspicious Activity Reports (SARs)

Banks may file SARs with FinCEN if activity on an account makes them think someone is laundering money, committing fraud, sending money to terrorist organizations, or committing other types of financial crime.

Branch deposit limits

Most banks don’t limit how much cash you can deposit, so in-branch is often best if you have a large amount of cash to add to your account.

ATM cash deposit limits

ATMs are usually only able to take in a limited number of bills at once. Each bank will differ, but ATMs will generally be better for smaller cash deposits.

Business vs. personal accounts

Banks must report cash deposits of more than $10,000 for both business and personal accounts. However, business accounts receiving over $10,000 in cash from a customer in the course of trade or business generally must also file Form 8300 with the IRS within 15 days.

Cash-based jobs or businesses 

Certain businesses, like restaurant owners or small shop owners, tend to have more cash-based transactions.

Selling personal property 

Someone selling a car or boat, for example, may receive a cash payment from the buyer.

Gifts or inherited cash

Inheritance or a generous gift may be paid out in cash.

Savings kept in cash

Some people prefer to save up a large amount of cash before depositing it into their account.

Deposit it all at once 

Depositing cash in a single transaction reflects the full amount and avoids the appearance of structuring.

Keep records 

It can be helpful to record how much cash you deposited and when, along with where the cash came from.

Be honest if asked 

If your bank asks about a deposit, providing accurate information can help clarify the source of funds.

Funds availability 

Cash deposits made in person are often available the same business day, though policies can vary by bank and deposit method.

Bank questions or documentation requests 

Your bank may ask questions or ask for extra documentation if you bring in an unusually large amount of cash, or if you start frequently depositing a lot of cash.

Reporting happens in the background 

With transactions over $10,000, your bank files a CTR automatically. If there’s nothing suspicious, most customers aren’t likely to hear about it or even know it was filed.

Trying to avoid reporting 

Intentionally attempting to avoid reporting requirements, sometimes called structuring, is illegal under federal law.

Depositing without documentation 

Documenting where, how, why, and from whom you received the cash may help if the bank has any questions.

Assuming reporting means trouble 

If a bank files a CTR for your cash deposit, it’s simply a compliance process — it doesn’t automatically mean you’re in trouble or did something wrong.

While there’s generally no limit on how much cash you can deposit in a personal bank account, banks do have reporting requirements on cash deposits over $10,000. Depositing large amounts of cash in person and keeping good records can be wise if you have a significant amount of cash to deposit. 

If you have cash on hand and are interested in savings account options, Raisin can help. Visiting Raisin’s Marketplace will help you compare multiple savings accounts at once so you can find the right account for your needs.

The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal, or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on taxes, your investments, the law, or any other business and professional matters that affect you and/or your business.