Banks Making It Harder to Deposit Cash Into Others’ Accounts

Citing security concerns, most big banks now prohibit customers from depositing cash into personal bank accounts of which they are not a joint owner or an authorized user. Bank of America, Wells Fargo, and Chase have each adopted such restrictions on cash deposits in an attempt to curb attempts at fraud and money laundering.  This Bankrate article highlights alternative ways to deposit money into someone else’s account.

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