Cash limit

HarbingerOfLunch · 20 February 2017 at 2:14PM

Hello. I have been trying to find a simple, straightforward answer to this question: how large does a cash transaction have to be before alarm bells start ringing and the shop in question has to report it? All I hear about is 'money laundering', and laundered money being used to fund terrorism etc, which I think we all know in 99.99% of cases is nonsense. The sum I'm thinking of is about £3,500.

jimjames · 20 February 2017 at 2:17PM

I guess it depends on the shop and type of transaction. I think you're probably a bit out on the numbers though, I'd suspect that money laundering would be a lot more than 0.01% of all large cash transactions

eskbanker · 20 February 2017 at 2:56PM

HarbingerOfLunch wrote: »

Hello. I have been trying to find a simple, straightforward answer to this question: how large does a cash transaction have to be before alarm bells start ringing and the shop in question has to report it?

There isn't a simple straightforward answer to that question - apart from anything else it would be somewhat self-defeating if there was a published/known limit of £x if it just triggered a plethora of dodgy transactions at £x-1!

Why would you want to use cash for such a high-value transaction, and (in your view) is it the norm for the type of purchase you're making?

Cash limit

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