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Updated almost 7 years ago,

User Stats

43
Posts
9
Votes
Chris Penny
  • Union City, CA
9
Votes |
43
Posts

Money pass through bank account and effect to refinancing

Chris Penny
  • Union City, CA
Posted

I have a bank account, called Bank A, that, for a specific reason, needs to have multiple money pass through. By that I mean I constantly need to move money from another account to this Bank A, then immediately wire the same amount from this Bank A account to another trading account. 

Now if I refinance my home, or buy another one, I understand that the lender would check every bank account and ask for an explanation of any nonregular large deposit. Given that I would have multiple large deposits, but at the same time I wire the amount received immediately to another account, do I have to explain this to the lender?

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