Rates Current as of Friday February 10, 2012

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Can you still deposit cash directly into your bank account or open up a CD with cash?

There are no Federal regulations that would prevent you from either depositing cash into your checking or savings accounts or opening a CD with a cash deposit. Federal regulations simply make it mandatory that banks fill out a disclosure form when there is a transaction involving cash in excess of $10,000.00. Banks are also required to disclose cash transactions that are suspicious in nature. In either case, it does not stop a customer from making the transaction even if the amount exceeds $10,000.00.

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