What is 'Source of funds'?

SouthCoast

Or US immigration asking if you are going to the USA to commit acts of terrorism.

runciblespoon

I thought this sort of thing was to make you lie if you've been doing Bad Things. Then, if they catch you, they can say 'Aha! You lied on your form' and can deport you/lock you up/close your account because you committed the offence of lying on your form. And they can do that straightaway, without having to convict you of the Bad Things.

Onawingandaprayer

And on a par with the tin of Cashews we have which says 'may contain nuts.'

GeorgeHowell

'Source of Funds' is typical of the FSA. Finicking about and creating bureaucracy about where ordinary members of the public came by a few thousand pounds, whilst having no idea that major banks were about to go bust.

Mikeyorks

Fred_Bear wrote: »

My question is what should she have told the Post Office was her source of funds? Help please.

You don't say how it was opened .... but there's normally a drop down list to choose from .... if online. And 'Transfer from Bank / Building Society' .... is as deep as I've ever gone. You don't have to aggregate if it's multiple origins - you only say where it's coming from at that point in time.

Fred_Bear_2

She filled in a form at a post office in Birmingham but left the 'source of funds' box empty because she used a cheque from her Nationwide Flexaccount as the deposit. She assumed this was self-explanatory. If she had handed over a wad of notes then fair enough they would need to know where it had come from. Anyway the form was checked and accepted. Her cheque was debited to her account five days later and she assumed the account was open. Unfortunately she had given the PO her home address in London instead of her term time address so when the PO wrote to her asking for her source of funds she did not get the letter until she was next at home and the PO refused to open the account.