Woman talking(l+r), Hands holding money(c)

ibragimova/Shutterstock @melissajaneg/Tiktok (Licensed)

‘I would immediately pull my $$ out and find a new bank’: Woman says bank keeps questioning her about where her money is coming from

‘Banks have been overstepping.’

 

Amara Thomas

Trending

In a viral video, TikToker Melissa Jane (@melissajaneg) shares with viewers that her bank keeps questioning her about where her money is coming from. 

She begins the video by asking viewers, “I need to know if this is happening to anyone else?” 

She continues, “I deposited money into the bank two different times, and they have asked me where it’s from two times. … I don’t need to tell you where I got it from. If it’s a large amount of money or a large sum, they have to report it to the IRS.” 

When do banks need to report a deposit to the IRS?

Banks have to report deposits over $10,000 to the federal government agency, the Internal Revenue Service (IRS), so they monitor for potential financial crime. According to Investopedia, “Under the federal Bank Secrecy Act and USA Patriot Act, banks and other financial institutions must report cash deposits of more than $10,000 with a Currency Transaction Report (CTR) filing.” The $10,000 can come “from either a single cash deposit or multiple deposits in one day that add up to more than $10,000. This rule applies no matter what the purpose of the deposit is,” states Investopedia. 

Yet, Jane argues that her amount was under $10,000. “Both times I have deposited money that do not need to require to be reported to the IRS. … Why do I need to tell the bank where I got my money from?”

She then explains both situations in which she was asked to disclose details about where her money came from. 

“The first time we sold an ATV. Sold that, put it in the bank. It was less than what they needed to report to the IRS, but they still asked me where I got it from. And I’m like, ‘What?’” she recalls.

“The second time just now I deposited three different checks. I and three other families are going on a beach vacation. I put the Airbnb on my credit card, and the credit card bill is coming up, so everyone is writing me checks for the amount that they owe. I went and deposited it, and the bank was like, ‘Why do you have three different checks that’s all for the same amount?’” she explains.

She is visibly frustrated in the video. “I have to now tell you where I am getting my money from. No, this is my bank account, and I get money however I want legally and put it in my bank account.” 

She argues, “Are these banks asking these celebrities where they are getting their money from? I dont think so!” 

The viral video has 1.3 million views and 18,000 comments. Many viewers resonated with Jane’s frustration. 

@melissajaneg Bank workers is this protocol now? Has the depsoit threshold been lowered? Wtf is going on. #bankaccount #wtfisthis #whatisthis #bankdeposit #bankteller #eattherich #letthemeatcake ♬ original sound – Melissa Jane

“Leave your bank and join a credit union near you. They will treat you much better than a bank,” one viewer suggested. Another shared, “Banks have been overstepping. They need to stay in their lane. None of their business.” 

Some viewers shared how they avoid tellers and the questioning. “I just deposit mine in the ATM so I don’t have to talk to people,” one added. Another shared, “My bank’s app allows me to take pictures of checks for deposits. no questions asked.” 

However, some viewers sided with the bank tellers, suggesting they were just doing their job. “I was a former teller. Hated asking people but I could have gotten in big trouble. The tellers don’t have control over regulations,” one viewer commented. Another added, “With a large number of scams out there, the bank is doing you a favor to double-checking the authenticity of the deposits.”

The Daily Dot reached out to Melissa Jane via Instagram for comment.

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