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Bank Deposit Limit Changes?


RichardF
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...a question has come up that there may have been changes to the bank deposit limits. I know there are some 'cash deposit' limits, I believe around $15,000 pesos a month, but what about deposits via bank transfer such as using 'Wise' or what used to be called 'Transferwise'. Many if not most of us transfer our monthly pensions and other incomes down to cover local living expenses, and these sums can easily exceed $50,000 pesos... but these are not cash deposits. Have there been any changes recently. This issue may have been covered, I looked but didn't see anything recent. On the net everything seems old and dated, some info back to 2010...What is the current situation?     

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I am with Intercam and top up the account from time to time with a cheque from my Scotia Canadian account which is always larger than any amount that you have mentioned. Intercam treats it as a cash deposit the very day it's posted even though they don't get the $'s to them in less than 5 business days.

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There was a 15000 cash deposit limit (IDE). If you got above this limit the bank withheld some taxes about 2%. This rule has been removed in 2014 and was only for cash deposits. Nowadays the banks only have to inform SAT about cash deposits to your accounts which SAT will use to compare with your tax declarations.

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2 hours ago, ednet94 said:

There was a 15000 cash deposit limit (IDE). If you got above this limit the bank withheld some taxes about 2%. This rule has been removed in 2014 and was only for cash deposits. Nowadays the banks only have to inform SAT about cash deposits to your accounts which SAT will use to compare with your tax declarations.

Does not apply to most of us.

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