What happens when you deposit a check over $10000?
Depositing a big amount of cash that is $10,000 or more means your bank or credit union will report it to the federal government.
The $10,000 threshold was created as part of the Bank Secrecy Act, passed by Congress in 1970, and adjusted with the Patriot Act in 2002..
Can the government check your bank account?
The Right to Financial Privacy Act protects your checking account records. … However, state and federal regulations may require access to your bank account including recent statements, deposits and withdrawals for government programs. You can say no but whatever government benefit you are applying for will be denied.
How often does EI get deposited?
every 2 weeksEI payment is issued every 2 weeks after you have completed your online EI report and the direct deposit comes within 2 business days.
Can you get EI if you have savings?
To qualify for social assistance, people have to first spend their assets, including retirement savings, she added. But if people are allowed to stay on EI, they can keep those assets — and better recover financially — once they find a job. … Now less than half of people who lose their jobs can qualify for EI.
How do I check on my EI?
To access information about your EI claim, you will need your SIN and access code, which you will find on the benefit statement that is mailed to you after you apply for EI benefits. The hours of operation are 8:30 a.m. to 4:30 p.m. local time, Monday to Friday.
Can a bank ask where you got money?
There is no law that specifically requires a bank to ask where you get your cash. They are probably just following Governmental and company guidelines on money laundering and have been told to ask that question on deposits of cash over a certain amount. Either that or the teller is just a nosy sod.