ANSWERS: 3
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Banks are required to file a Suspicious Activity Report for any deposit over $10k, but most banks will send one for anything over $3k. Your dad won't find out unless the money is coming out of his account. The SAR goes to the IRS.
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Anything over 3 thousand, not to worry, if it's a loan why didn't she just co sign for you?
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Sir John's answer is not quite correct. A large deposit doesn't warrant a SAR to be filed. SARs are filed for actual "suspicious activity." In all the time I've worked in a bank I've only seen one SAR filed. However, large cash deposits (and withdrawals) happen quite often. The form he is referring to is called a "Large Currency Transaction Report" Most banks call them a CTR. And he is right about the $10,000 point. Many banks do set their own trigger amount below the $10,000, but I've never heard of one doing it for a number as low as $3000. Typically, it's closer to eight or nine thousand. These CTR's are used by the government to help curb money laundering schemes. They are filed at least once or twice a week in the branch I work in, so they are very common and nothing to worry about. The teller will likely only ask for your drivers license and your occupation. Any other info, they already have in you account file. So, yes, they will do a little more paperwork, but your account won't be consider "suspicious."
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