Hello, Is there a limit or any Anti-Money Laundering (AML) restrictions on the amount of cash that our export customer can deposit directly into our company's bank account? Our company holds a general trading license. Thanks
Hi, Yes, there are typically regulations and restrictions in place regarding large cash deposits to prevent money laundering activities. These regulations vary depending on the country and the specific financial institution involved.
In the UAE, banks may have their own limits on cash deposits, which can vary from bank to bank. Additionally, there may be reporting requirements for large cash transactions. The threshold for what constitutes a "large" deposit varies, but it's often set at amounts over a certain limit, such as $10,000 USD or its equivalent in other currencies.
In the UAE, banks may have their own limits on cash deposits, which can vary from bank to bank. Additionally, there may be reporting requirements for large cash transactions. The threshold for what constitutes a "large" deposit varies, but it's often set at amounts over a certain limit, such as $10,000 USD or its equivalent in other currencies.
