Banking and large amounts of $£$£

pullthepin

Hey all

This week im going to have £2900 going out of my band account via debit card. my mate goes i have to go in the bank and let them know this money is going out as its a large amount? is this true?

I also have online banking (lloyds tsb)

THANKS!

Mikeyorks

No (it's not true). Provided you have the funds there and the transaction is authorised - there is no reason to notify the Bank in advance. The only time you really have to do that is if you want large sums in cash.

But if the debit is a non-standard transaction (eg car purchase) you may have to physically answer security questions, via the 'phone, when the dealer initiates the transaction. But relatively unlikely for £2.9k.

ManAtHome

Shouldn't need to if enough funds to cover it - I've paid for holdays, put through ISA funds and NS&I certs through (up to £10k) without problems. May depend where it's goiing though (Western Union to Lagos might raise an eyebrow or two...).

[Deleted User]

2.9k isn't enough to bother the banks.. i've put 4k on my debit card before without flinching. They did get a bit odd when I wanted to take 5k out in cash.. once

Kavanne

I recognise this thread, Apprentice.......