General Question

RedDeerGuy1's avatar

Can one give deposit money to any bank account without consent?

Asked by RedDeerGuy1 (14361points) January 5th, 2019

Just wondering.

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11 Answers

YARNLADY's avatar

Yes, if you have the account number, you can make a deposit.

LadyMarissa's avatar

My bank is getting funny about accepting deposits from just anyone. I can make as many deposits as I need to make with NO problem; however, you cannot go in & deposit money into my account even IF you know the account number. Plus IF my deposit exceeds $10,000 I have to fill out a stack of IRS paperwork explaining where I got the money. It’s the same with withdrawing large sums of cash.

stanleybmanly's avatar

Not any more. The process varies from bank to bank, but get this, the Bank of America and Chase will no longer allow me to deposit anything including CASH in my wife’s account. And Chase demands my ID to deposit cash in my own account.

rebbel's avatar

I can do six cash deposits, in my own account, per year, for free.
After that I have to pay a certain amount per deposit (something like €3)

zenvelo's avatar

You can deposit checks if you have ID and they can trace it back to you. This and restrictions on cash deposits are anti-money laundering protocols.

If a stranger could just deposit money in your account, it would become untraceable. There would be little reporting for tax collection.

Inspired_2write's avatar

As long as it is set up between both parties and the bank.But rules have changed as I had this set up alright ( transferred online),but not in person as I found out later ( awhile back) that when one deposits in person to an others acct then the deposit slip also gave all the information of the depositors acct???? Which means that one could easily take out funds as well!
They finally stopped giving out that info on blank checks and now block that info out when giving a receipt to the depositor.

JLeslie's avatar

A few years ago I had trouble at a Bank of America, but now Bank of America again in the last two years seems to not care, and doesn’t question a deposit being made. All the other banks I go to I have no problem depositing money into someone else’s account.

In fact I don’t get ID’d at all when I make a deposit lately. It’s usually checks, but once in a while it’s cash. Almost never over $10k. The last time I deposited more than $10k I don’t remember if I had to show ID or not.

Some bank accounts charge a fee to the account holder if too many transactions are done. I wonder if that was part of the problem?

Harper1234's avatar

My son’s bank would NOT let me his mom make a cash deposit into his bank account..
He’s in the CG and out to sea and his bills are automatically taken out of this account.
He asked me to put $50 in but they refused. And told me they thought it was a stupid
rule too!

Tropical_Willie's avatar

@Harper1234 Can the mother get a deposit slip? ? Just because . . . .

LadyMarissa's avatar

I’m of the opinion that banks have stopped allowing others the ability to make deposits into others accounts because they want you to make a wire transfer so it can be traced & they get to charge you a transfer fee.

Unless they’ve changed the rules in the last 10 years or so, he could set Mom up with a Limited Power of Attorney over that account.That way she can make deposits & withdrawals when he’s out of town. I had to do that at one point in tie with my husband. @Harper1234 They won’t allow you to make a cash deposit. Would you be able to deposit a check? If so, put the cash into your checking account & then write a check to deposit into his.When your son gets back, have him talk to the bank about how to get you permission to make deposits on his behalf. Where they will argue with you; as their customer, they should be willing to find a solution for him!!!

JLeslie's avatar

@Harper1234 I wonder if you had been a man if they would have just deposited it? I say that only because your son is a man, and I don’t know anywhere that requires ID for a deposit. Or, maybe if it was a check? Although, I deposited around $1,000 cash not too long ago into a friend’s account.

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