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LSP2005
Bunny kisses are so cute!
Member since 5/05 19461 total posts
Name:
L
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Spin off to gift list - a reason for maintaining a list
I have seen here people thinking that it is tacky to have a list but for those of you that want to purchase a home any time soon and plan on using the gift money towards the down payment on your new home, many banks want to see where your money comes from. A list like this could help you come time when you want to purchase a new home.
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Posted 9/5/11 4:06 PM  |
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Long Island Weddings
Long Island's Largest Bridal Resource |
LL514
LIF Adult
Member since 4/10 1901 total posts
Name:
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Re: Spin off to gift list - a reason for maintaining a list
i really don't think a bank is going to ask you to fork over your wedding gift spreadsheet. I'm pretty sure the bank statements with the check deposits will suffice if need be
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| Posted 9/5/11 7:31 PM |
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waterspout4
My loves
Member since 5/06 19150 total posts
Name:
Kelly
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Re: Spin off to gift list - a reason for maintaining a list
Posted by LL514
i really don't think a bank is going to ask you to fork over your wedding gift spreadsheet. I'm pretty sure the bank statements with the check deposits will suffice if need be
Ours did. 
In fact, we had to prove why my husband made a $400 deposit in the month before we bought. THE CHECK WAS FROM ME!!!!!!!!!! He was paying a bill with it. I had to prove I got the money legally. (AND I HAVE A JOB!) It was the most ridiculous stuff I have ever been through in my life. Ugh. 4 years later and my blood still boils.
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| Posted 9/5/11 7:47 PM |
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missfabulous
#mommyneedswine
Member since 6/09 10031 total posts
Name:
Colleen
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Re: Spin off to gift list - a reason for maintaining a list
I agree! We just recently bought a house and they questioned EVERY single deposit!!
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| Posted 9/5/11 8:20 PM |
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Jan1975
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Member since 8/09 3846 total posts
Name:
Sarah
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Re: Spin off to gift list - a reason for maintaining a list
Posted by missfabulous
I agree! We just recently bought a house and they questioned EVERY single deposit!!
Yup, banks want to account for every cent. They would probably ask for your first born if they could.
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| Posted 9/5/11 8:30 PM |
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Shroggie
Don't Worry...Be Happy
Member since 5/06 6261 total posts
Name:
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Re: Spin off to gift list - a reason for maintaining a list
My best friend had to hand in copies of every wedding check she deposited...she had 250 guests!!
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| Posted 9/5/11 8:32 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Spin off to gift list - a reason for maintaining a list
Posted by LL514
i really don't think a bank is going to ask you to fork over your wedding gift spreadsheet. I'm pretty sure the bank statements with the check deposits will suffice if need be
I was asked to get from the bank copies of all the checks people wrote us for our wedding. Bank statement was not sufficient enough
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| Posted 9/5/11 9:21 PM |
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butterfly20
Party of 5 - 2015
Member since 4/06 7390 total posts
Name:
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Re: Spin off to gift list - a reason for maintaining a list
the banks have gotten stricter now..... i'm guessing in part because they want to make sure you won't default. It use to be a bit easier.
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| Posted 9/5/11 10:53 PM |
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dpli
Daylight savings :)
Member since 5/05 13973 total posts
Name:
D
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Re: Spin off to gift list - a reason for maintaining a list
Posted by Mrs213
Posted by LL514
i really don't think a bank is going to ask you to fork over your wedding gift spreadsheet. I'm pretty sure the bank statements with the check deposits will suffice if need be
I was asked to get from the bank copies of all the checks people wrote us for our wedding. Bank statement was not sufficient enough
Seriously? Just out of curiosity, did you do that? I would be surprised if someone called me up looking for a copy of a check I gave them. I would probably send it, but I can't imagine having to contact 100 people for copies of checks. What a hassle.
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| Posted 9/6/11 11:55 AM |
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jilliibabii
Mrs. O'Connor
Member since 6/10 12821 total posts
Name:
Jillian
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Re: Spin off to gift list - a reason for maintaining a list
Posted by SweetApril
Posted by missfabulous
I agree! We just recently bought a house and they questioned EVERY single deposit!!
Yup, banks want to account for every cent. They would probably ask for your first born if they could.
 DAMN! This scares my pants off.
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| Posted 9/6/11 11:57 AM |
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emilylives
biking
Member since 12/09 2163 total posts
Name:
Emily
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Re: Spin off to gift list - a reason for maintaining a list
I'm pretty sure it's just recent deposits, though. They asked for documentation on deposits from the last 3-4 months from us. It's not like I needed to show them documentation on my college graduation gifts.
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| Posted 9/6/11 12:01 PM |
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Babymakin
LIF Adult
Member since 12/10 920 total posts
Name:
Sarah
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Re: Spin off to gift list - a reason for maintaining a list
I'm actually scratching my head at this. They want to know where the deposits come from?????
Is it thT they want to mKe sure you are making money legally? I actually don't understand this??
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| Posted 9/6/11 12:08 PM |
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Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
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Re: Spin off to gift list - a reason for maintaining a list
I didn't have any issue like this with my bank when buying my house.
but we burned through our wedding money on our honeymoon  our benefactors were as generous as THEY could be, but we don't come from well off people.
we saved money for over a year for the dp on our house.
I also don't have a list to do "tit for tat" our people don't have much money, we are in a pretty good financial position. gift matching would not be something I would ever dream of doing. it makes me ill, actually....to give less than I could afford or normally would b/c someone else gave ME less. No. not how I roll.
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| Posted 9/6/11 12:17 PM |
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nrthshgrl
It goes fast. Pay attention.
Member since 7/05 57538 total posts
Name:
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Re: Spin off to gift list - a reason for maintaining a list
Posted by Babymakin
I'm actually scratching my head at this. They want to know where the deposits come from?????
Is it thT they want to mKe sure you are making money legally? I actually don't understand this??
My guess is that it's the Bank Secrecy Act
We didn't have to do anything when we got married but that was 11 years ago.I'm sure they've cracked down since then.
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| Posted 9/6/11 12:24 PM |
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acm1899
LIF Adult
Member since 1/11 1085 total posts
Name:
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Re: Spin off to gift list - a reason for maintaining a list
I assume banks want to know this information because they want to differentiate between what is income, one-time gifts, and what could be a loan. People could show a high-bank balance to get a loan approved, meanwhile it's not really their money but money that someone lent them just to show more money in the bank than what they really have. For your initial deposit I don't think it really matters where you got the money from, but to show proof of income, especially if you're self-employed, it could make a difference.
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| Posted 9/6/11 12:27 PM |
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Danamz
LIF Adult
Member since 6/06 1978 total posts
Name:
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Re: Spin off to gift list - a reason for maintaining a list
Posted by Babymakin
I'm actually scratching my head at this. They want to know where the deposits come from?????
Is it thT they want to mKe sure you are making money legally? I actually don't understand this??
YES.. it is crazy what banks are requiring now!
To think 5 years ago they were handing out NO DOC LOANS!!! Then THEY had to be bailed out when people foreclosed on their mortgages!
I know a couple with impeccable credit, who tried to refinance... went through MONTHS of forwarding HUNDREDS of documents to the bank.
They Had to show where every penny came from and were ultimately denied because of an "unexplained large deposit" it was $300.
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| Posted 9/6/11 12:30 PM |
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