How much money can i lodge in Bank account?

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construct_06

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i have approx. €4k in cash and €7k in cheques which i want to lodge in my bank account. I have just finished up my job as im going travelling for 3 months and i got my bonus and holiday pay. Other money is savings and expenses cheques and gift money, got engaged recently aswell.

Anyway i want to lodge in bank today but i am wondering would this amount of money cause concern at the bank and will i have the taxman after me cos im lodging so much money.

Id say there may be an issue from a money laundering point of view?
 
We were lodging €20k into a credit union a few years ago - we had a cheque - I had to run to the bank and get a print out of a statement saying that money had been withdrawn from the account.

Bring as much documentation as you can about the location of this money..
 
construct_06 said:
Anyway i want to lodge in bank today but i am wondering would this amount of money cause concern at the bank

Id say there may be an issue from a money laundering point of view?
Click to expand...
See [broken link removed] for a summary of the money laundering rules.
and will i have the taxman after me cos im lodging so much money.
Click to expand...
Presumably not if you are already tax compliant?
 
I was told once from an friend not to lodge or withdraw more than €2500 in cash at a time as it has to be "reported" within the system. If larger amounts just withdraw over a few days or lodge over a few days. Did'nt think that it applied to cheques as well.
 
If you are lodging a cheque drawn on another Irish bank (and possibly others within the EU), it shouldn't raise any questions.

The €4k cash could/should very well be queried.
 
But the queries would be within the system - not directly asked to yourself at time of lodgement I would think
 
A bank can - and must if they have reason to be suspicious - ask the customer the reason for a transaction. As far as I know this should happen automatically for transactions of c. €12,700+ but at their discretion for others.
 
it is now 2013. how much cash can i lodge into a bank account without questions being asked as i have received a gift
 
i lodged about 5k back in the day in swords and I was heavily queried on it. (it was fully above board)
But when I lodged the same amount in a southside bank, nobody batted an eyelid.
 
back in 07 you would have had to deal with a human. will be a lodgement machine now, they don't ask questions :)
 
Lodged a solicitors cheque for a largeish amount late last year in my local UB branch and they didn't bat an eyelid. Perhaps it depends on the nature of the lodgement as in a solicitors cheque holds more weight than a private cheque... (or a suitcase of used 20's...;)).
 
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